Liberal National coalition leader Tony Abbott started his new day as Australia's prime minister elect just like any other -- riding his bike near his Forestville home.<br/> <br />(UPSOT)<br/> <br />Abbot swept into office on Saturday curshing the governing Labor party in a federal election that ended six year's of Labor power.<br/> <br />His coalition won 88 seats to Labor's 57 in the 150 seat parliament.<br/> <br />(SOUNDBITE) (English) INCOMING PRIME MINISTER, TONY ABBOTT, SAYING:<br/> <br />"I now look forward to forming a government that is competent, that is trustworthy and which purposefully and steadfastly and methodically sets about delivering on our commitments to you, the Australian people."<br/> <br />Outgoing Prime Minister Kevin Rudd admitted defeat and said he would not stand again for the Labor leadership.<br/> <br />(SOUNDBITE) (English) AUSTRALIAN PRIME MINISTER, KEVIN RUDD, SAYING:<br/> <br />"Geez, I thought we'd lost. (Crowd laughing)"..<br/> <br />"I know that Labor hearts are heavy across the nation tonight
