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NY1 will have live coverage of the president-elect's first public appearance since Tuesday's victory, which is scheduled to begin at 2:30 p.m.

Obama and vice president-elect Joe Biden received their first high security briefings Thursday.

Aides say Obama plans to meet with economic advisors Friday to discuss the nation's economic woes.

Meanwhile, Obama's cabinet began to take shape Thursday, as Illinois Congressman Rahm Emanuel accepted Obama's offer to serve as White House chief of staff.

Emanuel, who served in the Clinton administration, currently serves in the House Democratic leadership and will have to resign his seat to run Obama's staff.

There are also reports that Senator John Kerry is vying for the position of secretary of state, though a spokesperson for Kerry denied it Thursday. There is also speculation that Robert Gates may be asked to stay on as defense secretary.

A number of New Yorkers are also being floated as potential members of Obama's White House inner circle.

Two men with local ties are believed to be in the running for treasury secretary. Timothy Geithner, the head of New York's Federal Reserve Bank, and Paul Volcker, the Federal Reserve chair in the Carter and Reagan administrations, are both said to be vying for the spot.

Schools Chancellor Joel Klein is on the list for Education Secretary, according to the Washington Post. Klein's office has not commented.

Environmentalist Robert F. Kennedy Jr. is being considered for head of the Environmental Protection Agency. Kennedy Jr. backed Obama over New York Senator Hillary Clinton in the primaries, as did his cousin Caroline Kennedy, who's reportedly being talked about as ambassador to the United Nations.

Meanwhile, the Bush administration has already arranged security clearances for some Obama staffers and is providing work space and policy briefings starting today.

President George W. Bush met with hundreds of employees on the South Lawn of the White House this morning and told them the transfer of power is a hallmark of democracy.

"Some of you may be anxious about finding a new job, or a new place to live. I know how you feel," he said. "But between now and then we must keep our attention at the task at hand because the American people expect no less."

The outgoing and incoming commanders-in-chief will meet next week to discuss the transition. Aides to Obama say he and his wife Michelle will visit the White House Monday.

Treasury Secretary Henry Paulson says he too will work closely with the president-elect, as the country grapples with its worst financial crisis in decades.