January 20, 2004 - Posted at 7:59 a.m. CDT
ST. LOUIS, MO - Dick Gephardt is conceding the Democratic presidential nomination today, acknowledging after a disappointing fourth-place finish in Iowa that, "this didn't come out the way we wanted."
The St. Louisan who rose from a city alderman to become majority and later minority leader in Congress has called a 1 p.m. news conference at the America's Center convention center, where aides say he will formally withdraw.
Backed by almost two dozen labor unions, Gephardt went into Iowa with high expectations.
But senators John Kerry of Massachusetts and John Edwards of North Carolina had the momentum in the race's final week, finishing first and second respectively. Howard Dean was third, and Gephardt a distant fourth.