Herman Cain, the former CEO of Godfather's Pizza and Member of the Board of Directors for the Federal Reserve Bank of Kansas City, has announced he's running for President. Or at least thinking about it, anyway. You can read the statement on his website here.
Whether or not Cain will gain any traction remains to be seen. Being popular on the Tea Party lecture circuit doesn't exactly scream "presidential frontrunner." On the other hand, the whole point of the Tea Party is to encourage people with real world experince to get involved and lower the barriers to entry in politics. No matter what happens, Cain has the potential to add a lot to the political debate.
Here's a video of Cain speaking at the 2009 Georgia Republican convention: