It's been more than two months since billionaire Republican Meg Whitman lost the California gubernatorial race to Jerry Brown, but her first public appearance since the election has ignited talk that she may run for political office again, reports the San Francisco Chronicle.

Whitman re-emerged on the public stage on Thursday at the Harvard Club. Whitman's speech, which was closed to the media, was the first of two planned over the coming days, leading to speculation on whether or not Whitman will run for public office again.

The Chronicle reports:

Despite speculation that she may be preparing to return to politics, Whitman downplayed the importance of her appearances to small, tightly controlled audiences of fellow women executives as merely "helping out friends."

"It doesn't really mean anything," she said.

Asked if she was considering a return to politics, Whitman shrugged and said, "Certainly I'm going to keep my hand in public policy and politics, and I'm also going to do some big company boards and smaller boards and nonprofit boards."

Political Wire speculates that if she does run: "One possibility is a U.S. Senate run against Sen. Dianne Feinstein (D-CA) in 2012."

Whitman lost the California Governor's race to Brown, despite running the most expensive campaign ever.

In her first interview since the November loss, Whitman told the Chronicle she hadn't spoken to Brown since he was elected, but wished him success. "I care a lot about this state," Whitman said. "I will weigh in over time on policy and things. But my view is Jerry Brown deserves a chance to be successful and if I had won, I'd probably want a chance, too.

Whitman said she didn't think it was appropriate for her to comment on anything."I want him to be successful. California needs him to be successful. Let's give the guy a chance to turn around and let's see what he can do."