AFTERNOON CHATTER

New Mexico Governor Bill Richardson has withdrawn his name as Barack Obama's nominee for Commerce secretary. Richardson is evidently wrapped up a grand jury investigation that will affect his ability to get confirmed as a member of Obama's cabinet.

President-elect Obama released a statement this afternoon saying that he accepted Richardson's withdrawal "with deep regret." Obama also said he felt that Richardson was putting the nation first to avoid any delay in filling the post.

A federal grand jury is investigating how a California company that contributed to Richardson's political activities won a New Mexico state contract worth more than $1 billion.