Update 1:26PM: President Obama's statement:

"I look forward to working with Senator-Elect Franken to build a new foundation for growth and prosperity by lowering health care costs and investing in the kind of clean energy jobs and industries that will help America lead in the 21st century."

Update 1:22PM: Amy Klobuchar, Minnesota's senior Senator: "Norm Coleman did the right thing for our state."

Update 1:13PM: Video of Coleman's concession. Senator-elect (ain't it fun to say that?) Al Franken will speak at 2:15 Pacific time.

Update 1:02PM, from Coleman's press conference: "We have reached the point where future litigation damages the unity of our state....I congratulate Al Franken on his victory."

Original post: Can you say Senator-elect Al Franken? Finally!