Since his failed Congressional campaign last year, retired Air Force Major General Bentley Rayburn has been working on a number of projects–but, contrary to some reports, a U.S. Senate bid isn’t one of them.

“Those rumors are stuff people made up,” Rayburn says. “I’m a realist. I’m not thinking about it.”

Instead, the former president of the Air War College is focusing on business and non-profit work.

This past weekend, Rayburn was in Seattle, where he was helping with a group called Military Community Youth Ministries, an organization that helps troubled teenage children of military personnel abroad.

He’s also working with several companies to develop near-space vehicles designed to fly in the outer reaches of Earth’s atmosphere.

Rayburn came on the Colorado political scene in 2006, when he ran in the 5th Congressional District primary against Jeff Crank and Doug Lamborn. Lamborn won that contentious, often-dirty primary; two years later, he won again against Crank and Rayburn.

A number of pundits have included Rayburn’s name when talking about possible GOP candidates to face U.S. Senator Michael Bennet in 2010.

But Rayburn says he doesn’t see himself running for political office in the near future.

“I’ll keep an open mind, but it’ll have to be the right opportunity at the right time,” he says.

As for Jeff Crank’s post-election activities, he’s now lobbying for the Colorado Chiropractic Association. He also hosts a Saturday morning radio show in Colorado Springs.