While former NYC mayor Rudy Giuliani will make an official announcement that he's not running for office next year during an appearance with NY State gubernatorial hopeful Rick Lazio, he did speak with WABC 7's Lisa Colagrassi about why he wasn't running.

He explained, "None of them has to do with not wanting to it. I would've loved to run for either governor or the state Senate, they're both great honors. I love public service. It just happens to be that right now, both of the enterprises that I'm in—Bracewell & Giuliani and Giuliani Partners— are at a critical point." (Video at WABC 7.)

Baruch College professor David Birdsell is skeptical that Giuliani can make a political comeback, "It's hard to see where he picks up from here. If you add another couple of years, you get further away from the 9/11 reputation. You get further away from New York's mayor and further away from the things that make Giuliani, 'Rudy Giuliani.'"