"To put it more bluntly, the city's wealthiest and most powerful business leaders have some qualms with Mamdani's socialist platform. However, the story is not so simple, says Yasser Salem, a former McKinsey executive building a business council to advise Mamdani if he wins the mayoral election. Sure, the word socialism can cause some tension, Salem, the head of OneNYC, a pro-Mamdani PAC, said, but there are some surprising areas of overlap."
"Similarly, in conversations with more than 70 CEOs, Salem told Business Insider that some platform planks, such as universal childcare, are acceptable to many in the city's business community. "Some of them have said from the beginning that they understand policies like free childcare as a way to lower the burden of worry, concern, and issues that their employees have that prevent them from being productive at work," Salem said. Others took more time, but the affordability crisis is unavoidable."
Zohran Mamdani's progressive, socialist-leaning platform has produced concern among many wealthy New York City business leaders. Yasser Salem, a former McKinsey executive, is building a business advisory council to engage CEOs and identify areas of agreement. Conversations with over 70 CEOs show that some platform planks, particularly universal childcare, receive substantial acceptance within the business community. A PAC analysis finds the average New York family spends more than 25% of income on care for one child, highlighting an affordability crisis. Proposed solutions include public-private childcare models with cost-sharing between government and employers, which have drawn notable support while other policy concerns persist.
Read at Business Insider
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