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 | Hi everyone, The celebration’s over, and now it’s time to focus on a new transition. Two days after his historic victory, President-elect Barack Obama isn’t wasting any time as he begins to form his administration. Today, Illinois Congressmen and former Clinton White House staffer Rahm Emanuel accepted the post of chief of staff. Chief White House correspondent Jim Axelrod traces Obama's steps in forming a cabinet and Wyatt Andrews will take a look back at how presidents of the past have made the transition. Meanwhile, what does the future hold for Republicans, after losing the Presidential election – and losing more House and Senate seats? Jeff Greenfield looks into his crystal ball to see the future of the Grand Old Party. There's more grim news about the economy today. Retail chains posted their worst October sales results since the data was first tracked in 1969, and long-term jobless claims reached a 25-year high. Sandra Hughes reports on what this could mean for the upcoming holiday season. Next: It could be an amazing breakthrough in cancer research. Doctors have decoded the entire genome of a person who died of the disease and located mutations that might have caused it. This is a markedly different way to study cancer, and as Dr. Jon LaPook reports, it could lead to innovative new treatments. No city has been hit harder by the troubled economy than Elkhart, Indiana. Unemployment there has nearly doubled in the past year, and the hard times are trickling down to many different businesses. Tonight, Seth Doane shows us how one restaurant with a dozen workers…needs a miracle just to stay open. Finally tonight: It would be quite an understatement to say that the Obama family is about to experience a major change. I’ll show you what Michelle, Malia and Sasha can expect when they begin their new life in the White House. See you later!
Katie Couric
CouricandCo@cbs.com
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