My feeling is that Hatch is planning a run for Governor against Tim Pawlenty.
Hatch's whole adult life has been predicated on running for Governor. He's failed twice before (in '90 and '94) and he likely views this as his last legit chance.
Hatch has dreams of sitting on the Supreme Court.
MN is going to be ground zero for political activity. With an open Senate seat, plus a potential Presidential candidate (Tim Pawlenty) running for re-election, MN voters should gear up for endless political ads next year.