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Home - Economy & Business - Enterprise proprietor worries about enterprise circumstances in NYC below Mamdani management
Economy & Business

Enterprise proprietor worries about enterprise circumstances in NYC below Mamdani management

By Admin05/11/2025No Comments3 Mins Read
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Business owner worries about business conditions in NYC under Mamdani leadership
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‘Hannity’ has the newest on the outcomes of the New York mayoral election.

Billionaire grocery chain proprietor John Castimatidis expressed issues following New York Metropolis’s historic mayoral race that the Massive Apple may change into “lawless” below Mayor-elect Zohran Mamdani’s management.

Voters on Tuesday selected Mamdani, a self-described democratic socialist who defeated former New York Gov. Andrew Cuomo, to change into town’s 111th mayor.

Particularly, Castimatidis instructed FOX Enterprise that he’s nervous that Mamdani will appoint judges which are too lenient and that he’ll scale back town’s police power.

FOX Enterprise reached out to Mamdani’s staff for remark.

BILLIONAIRE CEO WARNS HE’LL CLOSE GROCERY STORES IF DEMOCRATIC SOCIALIST CANDIDATE WINS NYC MAYOR RACE

Within the months main as much as Tuesday’s election, Catsimatidis repeatedly threatened to tug his grocery retailer chain, Gristedes, out of town in response to Mamdani’s plans to create a community of city-owned grocery shops to drive down meals prices. Whereas he’s backtracking on the threats to shut or promote Gristedes areas, he stated he desires to minimize his firm’s publicity.

New Yorkers voted to elect Zohran Mamdani as the brand new mayor of New York Metropolis. (Victor J. Blue/Bloomberg by way of Getty Pictures)

BUY NOW, PAY LATER USAGE FOR GROCERIES NEARLY DOUBLES AS CONSUMERS STRUGGLE WITH FOOD COSTS

Surging meals costs was one of many central themes of Mamdani’s marketing campaign. His resolution to fight this was to create a community of city-owned grocery shops “centered on maintaining costs low, not making a revenue,” in response to his marketing campaign’s web site.

Mamdani claimed that with out having to pay lease or property taxes, the shops “will scale back overhead and go on financial savings to customers.” The shops would additionally purchase and promote at wholesale costs, centralize warehousing and distribution and associate with native neighborhoods on merchandise and sourcing, in response to Mamdani’s marketing campaign web site. 

John Catsimatidis

John Catsimatidis owns New York Metropolis grocery chain Gristedes. (Fox Information)

In a March interview, Mamdani estimated {that a} pilot program for this plan would price $60 million to execute, however he argued town is ready to spend greater than double that on company supermarkets.

MORE AMERICANS TURN TO HOME COOKING AS ECONOMIC CONCERNS WEIGH

A Nationwide Grocers Affiliation spokesperson beforehand instructed FOX Enterprise that a greater resolution to decrease meals prices is “implementing current antitrust legal guidelines to spur wholesome competitors amongst impartial grocers and big-box chains.” 

The New York City skyline

Zohran Mamdani was elected New York Metropolis’s 111th mayor. (Angela Weiss/AFP by way of Getty Pictures)

“We urge public officers in any respect ranges of presidency to direct assets towards implementing the Robinson-Patman Act, cracking down on worth discrimination and monopolistic leverage, and to collaborate with state and federal companies to interrupt down boundaries on swipe charges and regulatory burdens,” the spokesperson stated. This can “empower impartial grocers and strengthen meals ecosystems extra sustainably than launching government-run shops.”

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The Robinson-Patman Act was enacted in 1936 and prohibits worth discrimination that might hurt competitors.

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