Google put $700,000 into a PAC that went to Obama.No. Google did not donate $700,000 to a PAC. How many times do I have to tell you that?
By Jennifer O'Mahony
11:33AM GMT 05 Dec 2012
Mr Schmidt, 57, was offered the job of Treasury or Commerce Secretary or a new "Secretary of Business" slot, according to the Washington Examiner.
An anonymous strategist for the Democrats told the newspaper: "Nobody's better positioned for a Cabinet job, if he wants one."
Mr Schmidt's rebuttal was swift, however, as he told the Wall Street Journal in an interview yesterday: "I said last time and I've said again that Google is my home. I have no interest in working for the federal government".
Mr Schmidt played in a key role in the re-election of President Barack Obama last month, helping to oversee Google's $700,000 donation to his campaign.
Since Mr Obama took up the US presidency in 2008, he and Mr Schmidt have maintained a close relationship, appearing together at the company's Montain View, California headquarters in 2007.