UPDATED 11/12/10 12:43 p.m.
CHICAGO (CBS) - Could failed U.S. Senate candidate Alexi Giannoulias be getting into the mayoral race to go up against Rahm Emanuel?
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It turns out the answer is no.
But earlier in the day, the rumor was that the Democrat Giannoulias, who lost to Republican Mark Kirk on Nov. 2, plans to meet later Friday with about half a dozen aldermen to hear what they have to say about a possible mayoral run.
Even though he lost, Giannoulias picked up about 80 percent of the vote in the city of Chicago for the Senate seat formerly held by President Barack Obama, and he enjoys strong name recognition.
Analysts said he was preferred by some aldermen, who fear Rahm Emanuel will attempt to run the City Council with an iron fist if he is elected.
Giannoulias, 34, rose to prominence when he was elected state treasurer in 2006 with the backing of then-Senator Obama.
But as he began his Senate campaign, he was taken to task for his association with his family’s Broadway Bank, which failed in April. The bank was also the subject of revelations that it loaned $20 million to two convicted felons.
Some analysts said right off the bat that they did not expect Giannoulias to get in the race, but that he thought it can’t hurt to listen to the aldermen.
Meanwhile, others candidates are expected to make their runs official this weekend.
Emanuel plans to announce formally on Saturday, while U.S. Rep. Danny Davis (D-Ill.) and state Sen. Rev. James Meeks (D-Chicago) are both expected to enter the race officially on Sunday.
U.S. Sen. Carol Moseley Braun has not officially announced, but she is allowing news organizations to refer to her as a mayoral candidate.
City Clerk Miguel del Valle and former Chicago City Colleges board chairman Gery Chico have already announced their runs officially.
CBS 2′s Mike Puccinelli contributed to this report.