After weeks of speculation, Bob Kerrey has announced that he won't be running for Chuck Hagel's Senate seat in Nebraska and that he will instead remain president of the New School in New York. "I nearly said yes to leaving," he said in a statement just released by the school. But, he added, "for my family and me now is not the time for me to reenter politics as a candidate." Kerrey's statement did not address worries some Democrats had over his recently revealed connections to jailed controversial fund-raiser Norman Hsu. But he did say he would not stay out of political debates. "I am deeply troubled about the direction of our country. And the idea of returning home to Nebraska to lead a political campaign based on a promise to do my part to change the direction was very appealing," he explained. "Some argue that university presidents should avoid public debates and controversy. I believe differently and, fortunately for me, so do the trustees of The New School."

Related: Bob Kerrey, Cockblocker [NYM]