Don Walton confirms it:

Sen. Chuck Hagel will announce Monday he’ll not seek re-election next year.

Hagel also will tell an Omaha news conference he does not intend to be a candidate for any office in 2008, clamping a lid on speculation he might be pondering a late-inning presidential bid.

In a prelude to Monday’s announcement, he conferred Friday with Senate Republican Leader Mitch McConnell of Kentucky.

Later, Hagel gathered his Washington staff together to inform them of his decision, according to sources close to the senator.

Hagel’s departure at the end of 2008 will bring an end to a meteoric 12-year Senate ride that propelled him to national prominence as the most outspoken Republican opponent of President Bush’s Iraq war policies.

Don Walton has the story:

Bob Kerrey stepped to the brink of a possible 2008 Senate bid Thursday.

Kerrey placed a conference call to New School University trustees in New York City to inform them he may be returning to Nebraska.

A decision on whether to return to his roots and attempt to once again represent Nebraska in the Senate is likely “within the next couple of weeks,” Kerrey said in a telephone interview.

This pretty much lines up with the timeline of Hagel’s decision. By Labor Day, we’re going to know what the field looks like.

The national take from Kos. And the local take from the NNN.

I’ll put something up a little bit later when I have some time on my take.

A couple of weeks ago, Jon Bruning released his Q2 fundraising numbers, coming in at over $720,000 for the quarter, a very good number for a primary challenger.

Now, incumbent Republican Senator Chuck Hagel, who two weeks ago said that his campaign would be “well beyond” the amount raised by Bruning, has clocked in at $387,000, a large portion of that coming from a May fundraiser featuring Senate Minority Leader Mitch McConnell.

The conventional wisdom crystallizing on the ground here is that Hagel is blocking for Johanns - though it’s unclear if Johanns will get in the race, and the longer he waits, the stronger Bruning looks.

As we move closer to the fall, expect some movement one way or the other.

(Like I said, my frantic pace returns quickly.)

OWH:

 Nebraska Attorney General Jon Bruning said Monday that he had raised $721,200 by the end of June to prepare for a possible campaign against incumbent U.S. Sen. Chuck Hagel.

It’s not enough to scare Hagel away, though it’s certainly enough to suggest that Bruning’s not going to have much trouble raising money.

Hagel’s political director Kevin Chapman said Monday the campaign won’t report its fundraising figures until the deadline, “but we’ll be well beyond $700,000.”

Interesting statement. Was the high-dollar fundraiser that Hagel held back in May that successful? Hagel’s playing his cards pretty close to the vest, though Republican donors seem to think that hes going to opt out of a run for reelection. It’ll be interesting when the numbers come out just when his biggest contributions came, and from where.

It’s also worth noting that Bob Kerrey’s still got about $400,000 cash on hand from his old Senate campaign account, should he decide to run. And the Democratic donor base, together with money from the DSCC, can definitely hold its own - even when outspent by a significant margin. See the 2006 election for a good example. Whether it’s Kerrey, Fahey, or Kleeb, we’re going to be ready for another tough fight in 2008.