I'd toot my own horn on this one, but it was so obvious I don't think I deserve much credit: Rudy Giuliani isn't running for Governor, after all.
Repeat after me: Mayor of New York City is a dead-end job. The two things that can be counted on are the NYC Mayors will not go on to higher office, and that the press (where are many of them located?) will spend way too much time speculating on the future plans of NYC Mayors. Lindsay, Koch, Giuliani...the ones who are foolish enough to believe the hype just wind up making fools of themselves. Having already achieved that distinction in the 2008 Republican primary in Florida, it didn't seem in the cards for Giuliani to try again. Especially since, as the Times says, he'd be losing money on the deal -- and since it's obvious that his national megaphone on terrorism is undamaged by his years out of office or the presidential campaign debacle.
Granted, I should be careful here -- he apparently hasn't ruled out a Senate bid -- but I'll be surprised if he does that, either.
I don't know that the New York Mayor iron law is as firm as the one that Larry Sabato touts about VA Governor elections (the party of the White House gets punished; credit to Sabato for a good call this time around), or the impossibility of winning a presidential nomination from a House seat, but I'm willing to trust in it until proven wrong. And, alas, I'm equally willing to trust that reporters will continue to ignore that law and spend way too much time on implausible stories such as the Bloomberg-for-President boomlet from the last cycle.
UPDATE: Not so fast! Apparently he's in...at least for now, at least according to one story...for the Senate race. Can't win 'em all; of course, the Iron Law is intact until and unless he actually wins something. We'll see, including whether he actually makes the Senate contest.
YET ANOTHER UPDATE: I should have known better; first update above only shows that the last sentence of the original post was correct. My fault for paying any attention to it.