NPR 2008-08-26

The Democratic National Convention in Denver has begun. Party Chief Howard Dean officially gaveled the four-day gathering 1 to order, where the faithful are expected to rally around and nominate Barack Obama to be the party candidate for the White House. "The 45th quadrennial National Convention of the Democratic Party will now come to order. " On tap for later tonight: a tribute to Massachusetts Senator Edward Kennedy who is currently battling brain cancer, and a speech from Michelle Obama in which she's expected to present what the campaign referred to as a personal view of her husband.

Senator Obama meanwhile campaigned today in Davenport, Iowa, the state where he won the caucuses 2 back in early January, starting a string of victories that led to his capturing the nomination 3. NPR's Don Gonyea is traveling with the Democratic hopeful.

In an appearance before an invited audience of about 250 at a fairground not far from the Mississippi River, Senator Obama continued his attacks on John McCain, saying McCain is running a campaign not based on ideas but rather one that focuses more on tearing down the Democratic candidate. "And the truth, and most people don't really think John McCain is gonna shake things up. The real argument the Republicans are making is Obama's risky 4. They're not talking about their plans, they are talking about me. " Obama says the real risk is in electing someone who will continue the policies of George W. Bush. Senator Obama campaigns over the next two days in Missouri and Montana before arriving at the Democratic Convention in Denver on Wednesday. His acceptance speech is Thursday. Don Gonyea, NPR News, traveling with the Obama campaign in Davenport.

GOP presidential candidate John McCain called Obama an honorable man this morning at an event in Phoenix 5, but said there are stark 6 differences between them. McCain then spent much of the rest of his day raising money in California. From Member Station KXJZ in Sacramento, Ben Adler reports.

The Arizona senator stopped on his way into a downtown Sacramento hotel to greet a modest crowd of supporters and protesters. Sacramento resident Diana Brate held a McCain Romney '08 sign’, "I really believe this would be the ticket that would take him over the top. " and said she is(was) worried about Barack Obama's tax policies. "I think that'll just tatter the whole economy whatever we have left. " After McCain's lunchtime fund-raiser-1, 000 dollars a plate or 2, 300 dollars for entrance and a McCain '08 lapel pin', the senator headed for Southern California for an evening fund-raiser in Beverly Hills. He also taped an appearance on NBC's "Tonight Show". For NPR News, I'm Ben Adler in Sacramento.

On Wall Street, the Dow Jones Industrial Average fell 241 points today, ending the session at 11, 386. The NASDAQ was down 49 points to close at 2, 365. The Standard & Poor's 500 fell 25 points today.

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The European Union and the US are calling for the two breakaway provinces in Georgia, South Ossetia and Abkhazia, to remain part of Georgia, despite unanimous vote by Russia's Parliament that would grant the restive 7 Republics their independence. German Chancellor 8 Angela Merkel today said recognizing the two provinces as independent would create a very difficult and critical situation for the territorial 9 integrity of Georgia. The White House voiced a similar view, while also announcing that Vice 10 President Dick Cheney will make a trip to the former Soviet 11 republic next month.

Up to 10 inches of rain is expected to cross parts of Georgia this week, the effects of Tropical Depression Fay. NPR's Kathy Lohr has more.

Fay's strongest effects have been felt in the southern part of the state where heavy rain pounded Grady County. Some 6, 000 homes and businesses were without power over the weekend and a ten-year-old boy drowned while playing in a drainage ditch, apparently 12 swept up in the rushing water. Fay is blamed for a total of 13 deaths, 11 in Florida, one in Georgia and one in Alabama. In North Georgia forecasters say as much as 10 inches of rain could fall in the next couple of days. In this region, which has experienced three years of drought, the rain is a welcome relief. More than three million people get their drinking water from Lake Lanier, and that reservoir is more than 17 feet below what's considered full. As the storm moves across the southeast, forecasters say parts of Alabama, Tennessee, Mississippi and eastern Louisiana are likely to get several inches of rain. Kathy Lohr, NPR News, Atlanta.

Crude Oil Futures 13 ended the session slightly lower today. The near-month contract for benchmark grade crude fell 14 cents a barrel, to end the session at $114.45 a barrel on the New York Mercantile Exchange.