Daniella Genovese writes for FoxNews.com about a warning involving the high-profile New York City mayoral election.
New York City mayoral candidate Zohran Mamdani’s plan to create a network of city-owned grocery stores to drive down food costs is facing pushback from the industry, with the head of a Manhattan-based grocery chain threatening to sell or close the business if Mamdani is elected.
John Catsimatidis, the CEO of grocery chain Gristedes, found fault with Mamdani’s plan, saying the business couldn’t compete in the market if there are city-run supermarkets.
“If the city of New York is going socialist, I will definitely close, or sell, or move or franchise the Gristedes locations,” Catsimatidis told FOX Business. He will also contemplate moving his corporate offices to New Jersey. Catsimatidis said that he won’t make this decision after the primary election.
Mamdani, a New York State assemblymember who is a self-identified democratic socialist, has been closing the gap against former Gov. Andrew Cuomo in the lead-up to election day on Tuesday.
Aside from city-owned grocery stores, Mamdani campaigned on the promise to “lower costs and make life easier” for New Yorkers, which includes building more affordable housing, ensuring buses are free and doing away with childcare costs for every New Yorker aged 6 weeks to 5 years.
A user on X also called Mamdani’s proposal for New York City “the most economically delusional thing I’ve seen in a long time.”
By contrast, a group of economists penned a letter, published online earlier this month, saying “the economic data is clear: when the public sector steps in to correct market failures in the provision of essential goods, consumers benefit.” …
… If elected, Mamdani said he would redirect city funds from corporate supermarkets to city-owned grocery stores “whose mission is lower prices, not price gouging,” according to a video posted on his campaign website.
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Author: Mitch Kokai
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