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This announcement from the White House would seem to indicate that Rob Portman won't be spending time preparing for a running-mate announcement:
President George W. Bush today announced the designation of a Presidential Delegation to Santo Domingo, Dominican Republic to attend the Inauguration of His Excellency Leonel Antonio Fernández Reyna, President of the Dominican Republic, on August 16, 2008.

The Honorable Robert J. Portman, Former Congressman, United States Trade Representative and Director of the Office of Management and Budget, will lead the delegation.

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Trade