Powell Will Pass on Cabinet Post

Colin Powell doesn’t want a job in Barack Obama’s “historic” administration, preferring instead to see a new generation of leaders. “Why? I've done it,” Powell told the Wall Street Journal today in Hong Kong. The Bush-era secretary of State, who endorsed Obama last month, also assured Chinese business leaders that the president-elect will listen to allies, “perhaps more than the past administration.”

Powell said Obama’s victory will remind the world, “Ah, that's the America we remember, that's the America we want to see.” (More Barack Obama stories.)