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Today on cnbc.com

Good morning. Our quote of the day comes from Gerald Ford: "Our long national nightmare is over." That of course was the former president referring to the end of Watergate. As you probably know-- Ford died last night in California. He was 93. Ford was the only U.S. president to serve--without having been elected to the office.

Prior to taking over as vice-president for Spiro Agnew and then replacing Richard Nixon as president--Ford had only been elected to the U.S. House of Representatives. Remember WIN (whip inflation now)? Ford had about a 7% inflection rate to deal with when he was in office. We'll be having reaction to his death through the day.

FYI: Ford played college football at the University of Michigan and was reportedly offered a contract by the Green Bay Packers. He played center.

Other topics and guests include the meeting between the two CEO's of Toyota and Ford . Could a merger of sorts be in the works? On "Morning Call" we'll have a stock favorite segment. We'll also be following the holiday retail sales figures.