His office just released a statement:
“Last week I communicated to Sen. Obama and his presidential campaign my firm intention to remain in the United States Senate, where I believe I am best equipped to serve the people of Virginia and this country. Under no circumstances will I be a candidate for vice president.
This is good news. The best of all possible worlds is for James Webb to actually want to be a force in the Senate and a leading national voice on foreign affairs. That’s what his experience and temperament best prepare him for. Democrats have to stop trying to solve their inadequacies on national security through the superficial fix of presidential resume searches and begin building a strong party infrastructure around the issue. Serving in the Senate, Webb could become the locus around which that infrastructure is built.