Gingrich won’t run for President:

Former House Speaker Newt Gingrich on Saturday decided against running for president in 2008 after determining he could not legally explore a bid and remain head of his tax-exempt political organization.

Gingrich, 64, said the change of heart, which came as aides readied the NewtNow.org Web site and prepared to file campaign papers, was the result of legal advice that running for president would require stepping down as chairman of his organization, American Solutions (for Winning the Future).

That group is the latest vehicle for the Georgia Republican’s musings about politics and policy, and opened its first “ideas summit” Saturday at a Georgia college an hour west of Atlanta.

Looks like the Republicans last hope has now been extinguished. They might as well stay home next November.