From the New York Post's Page Six:
Confident that he'd have a chance to win, Rudy Giuliani is rounding up his top political advisers for a possible 2012 presidential run, sources tell Page Six. Sources say the tough-talking former mayor "thinks the Republican race will be populated with far-right candidates like Mitt Romney, Sarah Palin and Mike Huckabee, and there's opportunity for a moderate candidate with a background in national security." Giuliani has even scheduled a trip to New Hampshire for next month to meet with constituents in the state that failed him in January 2008, when he placed fourth in the Republican presidential primary.
Rick Brookhiser, a big Rudy backer in 2008, thinks this would be a "terrible idea" if true.