For now, it looks like it.
The Conservative Assembly Group met last night and have just put out this statement:
"At a meeting of the Shadow Cabinet last night Welsh Conservative Assembly Members gave their unanimous support to Nick Bourne as leader of the Assembly group.
"All members intend to move forward together, building on the successes the party has enjoyed in Wales over successive years."
Leader in waiting (and waiting ... and waiting) Jonathan Morgan, we must assume, hasn't got the support he needs within the group to challenge for the leadership.
Too many of them believe the job could be theirs for the taking, given a little time. So for now they sit on their hands, give the leader their support in public and impress upon him that when the time is right - perhaps after this Spring's European Elections, especially if the party gains that second seat - he can leave with his head held high.
Then they'll point to their loyalty when times were tough - just before scrambling to fill his shoes. And Jonathan Morgan may just find he waited too long.
Ten minutes later, by the way, a second press release arrives. This one informes us the Welsh Conservatives are establishing a committee to draw up new guidelines in relation to the expenditure of AMs expenses "in light of recent concerns raised about allowances claimed by AMs from all parties ... the Welsh Conservatives are determined to draw up the most robust guidelines possible in relation to expenditure made by members of the group".
Note to leaders in waiting: start saving up now to buy your own iPods and start hoping you can regain the ground you've lost over the last few disastrous weeks.