Sarah Palin, the Alaska Governor announced that she resigns from her post on July 26 and will not seek re-election to a second term in 2010.

Palin held a conference in her hometown Wasilla, Alaska and declared that she wants to spend more time with her family. Of course there are rumors saying that Palin might run for presidency in 2012.

Palin’s place will be taken by Lt. Governor Sean Parnell, at the end of the month.

This year Palin might come out with a book about her Alaskan childhood. The book seems to cover also her political beliefs and her family life, including the pregnancy of her teenage daughter, Bristol Palin, who gave birth in December to a son, Tripp. "In fairness to my family, this is going be a good opportunity for them, too, because there have been so many misperceptions out there about who we are and what we believe in, and I'm excited to get to put my journalism degree to work and tell my story as it relates to my family,"Palin said.

Palin will be working at this book with the Harper Collins imprint and despite the fact that the financial terms weren’t established yet, she could sign for a multimillion-dollar contract.