03/28/2008 02:45 am ET Updated May 25, 2011

Dem Bob Kerrey Says He Won't Run For Hagel's Senate Seat

ABC News' Teddy Davis Reports: Former Democratic Sen. Bob Kerrey announced Wednesday that he will not leave his job as president of The New School in New York City to run for the Nebraska Senate seat being vacated by retiring Republican Sen. Chuck Hagel.

"I have decided I will not leave The New School to become a candidate for the United States Senate in Nebraska," said Kerrey. "The reason is simple enough: For my family and me now is not the time for me to re-enter politics as a candidate."

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