"A well-placed source says that the president will 'most likely' drop Dick Cheney from his re-election ticket and his first choice for a replacement is former New York City mayor Rudy Giuliani," MSNBC's Jeannette Walls reports.
Update: "White House officials are laughing off the still-circulating rumor that Rudy Giuliani may replace Vice President Dick Cheney on the Republican ticket," the New York Daily News reports.