NY1 is covering Governor Eliot Spitzer's drive from his apartment to his midtown office like the white Bronco chase. It is a glorious day for New York, and the nation. Spitzer was accompanied on the walk from his home to his motorcade by his wife and Ted Wells—disgraced former Bush administration official Scooter Libby's attorney in that Plame thing. Gawker contributor Jim Behrle suggests that Spitzer also ought to be fined for having his "black SUVs driving like dicks in the bus lane." The motorcade just arrived at Spitzer's office, so we shall report on the contents of soon-to-be-former Governor Eliot Spitzer's resignation speech as it happens, after the jump. Update: All done! Video of the speech and our INSTANT RESPONSE, after the jump.

Eliot Spitzer is going to resign any minute now (or sometime in the next few hours). The resignation will be announced today, and will take effect next Monday. Last night the Times said, rather cryptically, that his wife wanted him to stay on (no reason why—she wanted him out of the house?), others report that Spitzer was holding off on a resignation until his lawyers could get federal prosecutors to promise not to charge him with anything. The New York Post can exclusively report that Governor Spitzer wanted to "set the mood" before his illicit tryst with an unknown "classical-music CD." Oh, and the Guv has enjoyed the company of hookers for ten years or so (or, as the Post puts it, he "has been hopping into bed with harlots for as long as a decade and traveled as far as Florida for steamy trysts"). He is a good tipper. A NY1 reporter just announced that the press gathered outside Spitzer's apartment are "waiting for the money shot." Update: An announcement will come at 11:30. At his apartment, at his midtown office, from room 871 in the Mayflower Hotel—no one knows! It might just be a letter, placed in an envelope with a thousand dollars cash and left on the media's dresser.

• Spitzer paid to see a lady and he's sorry. He said so on the TV.
  

Well, Eliot Spitzer has not resigned as Governor of New York. Not yet, at least. But Fox News' report may still be accurate. The governor's statement sounds like a farewell. He begins in the past tense, and goes on to say that change is a matter of ideas, rather than individuals. That is to say, even if Spitzer's political career is over, his ideas will live on. Good luck with that. Here's the statement: "We sought to bring real change to New York, and that will continue. I have acted in a way that violates my obligations to my family, and violates my or any sense of right and wrong. I apologize first and most importantly to my family. I apologize to the public, to whom I promised better. I do not believe that politics in the long run is about individuals. It is about ideas, the public good, and doing what is best for the State of New York. I am disappointed not to live up to the standard I set for myself. I must now dedicate some time to regain the trust of my family."

Eliot Spitzer, crusader against Wall Street's abuse of individual investors, is to resign as Governor of New York State, according to Fox News. If true, this marks the end of a remarkable political career. Just over a year ago, when the former Attorney-General took power in Albany, he was widely regarded as the one politician determined enough to break the administrative gridlock in the state, and a possible presidential candidate for the Democrats if he succeeded. Instead, Spitzer's resolve was easily mistaken for arrogance; the governor became bogged down in a political war with state Republicans, and the seemingly incorruptible crusader is now under indictment for prostitution charges, according to Fox.

Well, there goes any hope of political reform in New York State. The New York Times is reporting on the newspaper's website that Eliot Spitzer is connected to a high-class prostitution ring. By connected, one presumes they mean the New York Governor, until recently touted as a future presidential contender, was shagging the call-girls. Emperors Club, which rented out prostitutes at rates of up to $5,500 per hour, was broken up last week by federal investigators; but administration officials would not disclose whether it was that particular agency that had identified Spitzer as a client. The ethos of Emperor's Club must have resonated with the notoriously perfectionist and hard-charging Governor. The outfit's slogan: "for those accustomed to excellence."

An Improvised Explosive Device went off in Times Square at 3:43 this morning, according to a statement released just a few minutes ago by the NYPD. In other, less sensationalistic words, a small homemade bomb went off just in front of the Army recruiting station. No injuries. The Mayor is expected to give a press conference a half-hour ago, "but he's running late." We'll update if he says anything interesting. (Update: He didn't.) The cops are looking into whether this bomb was anything like the ones that went off outside the Mexican and British Consulates in 2007 and 2005, respectively. Those crude devices were toy grenades filled with gunpowder, making the term I.E.D. sound even more generous. But hey, terror. Update: Cops say a witness saw a guy on a bike, with a backpack, and a hood. Which matches the description of the mysterious guy spotted outside the consulate attacks. This madman must be stopped before he inexplicably blows up a tiny bomb well outside another building at an hour when it will hurt no one. (CNN clip, regarding this mad bombing suspect, after the jump.) [NYT]

Sam Zell's national tour of Tribune Company offices has been charming: the old coot has blasted overpaid executives, bought morale-improving pool tables and sworn at journalists. But the entertaining show can't change one basic reality: Tribune's newspapers are flailing; Zell is an over-leveraged corporate raider who'll cut costs; and he'll end up just as hated as the company's former overlords. Case in point: Newsday, Tribune's New York flagship, is cutting 120 jobs. This memo just came across the company email.

According to well-placed sources, the entire internet in all of downtown Chicago has been out of service for two days now and no one has noticed.

All the parts of the internet that care about such matters have been speculating as to what Saturday Night Live will do about Barack Obama. They don't really have anyone qualified to impersonate him right now, especially as blackface is more or less out of style. A couple sites have reported rumors that sketch comedian and comedy writer (and thin black man) Donald Glover will join the cast, possibly even this weekend, in order to ensure that the Democratic hopeful will be properly parodied. Comedy Central's Insider blog has the story and the Chicago Sun-Times thinks it's a done deal. But! We went to school with Donald! He, like us, was in NYU's Dramatic Writing program. So we checked Facebook and learned, direct from Donald, that all of this speculation is unfounded. Donald auditioned, but hasn't been asked to join the cast. His wall message (of hope) is attached, click to enlarge.

"Students Prefer Easy Courses and 'Hot' Professors" [TaxProf Blog]

Wily old Rupert Murdoch. His media conglomerate, News Corporation, is in talks to merge its social network site, MySpace, with Yahoo, reports the Wall Street Journal. Why is this so clever?

[AFP]

The prettiest remaining candidate in the race for the presidency is finally calling it quits. Former Massachusetts governor Mitt Romney, who has so far won mostly states he's actually lived in, will address the Conservative Political Action Conference at 12:15 today to say "ARE YOU MONSTERS HAPPY NOW?" and then stalk off forever. A nation mourns. [Time]

The New York medical examiner's office declared today that actor Heath Ledger died of an accidental overdose of anti-anxiety drugs and sleep aids. Autopsy and toxicology results find that Ledger wasn't under the influence of illegal substances at the time of his death at his SoHo apartment on January 22nd. "The medical examiner released results of the toxicology report Wednesday, saying Ledger died as the result of acute intoxication by the combined effects of oxycodone, hydrocodone, diazepam, temazepam, alprazolam, and doxylamine." [WNBC]

eBay employees have just received an email from longtime CEO Meg Whitman announcing her retirement. She joined the company 10 years ago, when it had a mere 30 employees; it now has 14,000. John Donahoe, as expected, will succeed her as CEO. Rajiv Dutta, currently CEO of PayPal, will take Donahoe's job as head of eBay's auctions business. Whitman will remain on the board. Strange, that: In an email to employees, Whitman says it's "time for a new leadership team," and yet all the same faces are staying in place. Here's her full memo to employees.

John Battelle's online-ad rep firm, Federated Media, has hired a small investment bank, Savvian LLC, to "manage investor interest," according to a source close to the company. What does that mean? Hopefully Battelle wasn't giving interested investors his customary greeting, shown here. FM sells advertising and performs other services for blogs in specific subject areas. It's especially strong in tech, representing TechCrunch, GigaOm, and VentureBeat, among others. Online ad networks are fashionable among investors right now, so it's possible Federated could be entertaining buyout offers. But Battelle's choice of a banker is curious: Savvian is known for helping companies in dire straits. It's also known for getting smaller media companies sold to larger ones — such as BeliefNet, recently purchased by News Corp. with Savvian's help.

For full coverage of the actor's life, and death, click here.

"This is being looked at as a possible overdose, but that is not confirmed yet," NYPD spokesperson Paul Browne said today, addressing the suspected suicide of actor Heath Ledger at a downtown apartment. According to reports, the medication found around his naked body "appear to be over the counter" sleeping pills. WNBC's sources say two bottles of sleeping pills were found near the body, one containing prescription medication and that fire officials had said the 911 caller reported a man not breathing, with a "cold" body. TMZ reports that an autopsy is scheduled for tomorrow. UPDATE: One of Ledger's close friends tells US magazine his death was shocking, but not surprising. "We saw it coming. Heath has gone though a rough road of trying to get sober."

Police are now saying they suspect suicide in Heath Ledger's death today at a Manhattan apartment owned, says the Times, by actress Mary-Kate Olsen. Prescription pills were found around the actor's "naked and unconscious" body.