While some observers have speculated that the current Secretary of Defense, Robert Gates, will be asked to stay on and serve the Obama administration, we've uncovered rumors within the Department of Defense (DoD) that predict Sen. Chuck Hagel (R-Neb.) will be the next to sit in that chair.

A Vietnam War veteran and a strong critic of the conflict in Iraq, Hagel compared the Iraq War to Vietnam.  In Hagel's new book, America: Our Next Chapter, he said he believes that the Iraq War is one of the five biggest blunders in history.

Early in his political career, Hagel was a congressional staffer, lobbyist, and deputy administrator of the Veterans Administration.  He left government to co-found Vanguard Cellular, a mobile phone manufacturer that made him a millionaire several times over.  After several years in the private sector while working closely with non-governmental organizations, he moved back to Nebraska to find more success as the president of the McCarthy Group, an investment banking firm.  In 1996 he ran for the US Senate and indicated that, were he to be elected, he would retire in 2008 after two terms in the Senate.

Since his election to the Senate in 1996, Hagel has been chair of both the Senate Global Climate Change Observer Group and the Senate Oversight Task Force. He also serves on the NATO Observer Group. Hagel has served on the Board of Trustees of the Manville Personal Injury Settlement Trust and as Chairman of the Agent Orange Settlement Fund. He has actively participated in civic, educational, and charitable organizations.

True to his word, Hagel is retiring from the Senate at the conclusion of his present term.

Those close to him and to Obama circles have always placed Hagel as a possible candidate for the cabinet position of United States Secretary of Defense. And while Hagel is humble and ready for retirement, he has stated publicly that he would consider a cabinet position, if asked to serve again.

President-elect Obama has said that he intends to to appoint cross-party figures to his cabinet. Senior advisers confirmed that Hagel is considered an ideal candidate for defense secretary. When asked about Hagel as a potential cabinet member, Obama said, "Chuck Hagel is a great friend of mine and I respect him very much."

Obama aides say no Cabinet positions are to be announced this week, though White House staff positions may come later in the week.

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