New term limit law may put an end to Catsimatidis’ dreams for office

Mayor Michael Bloomberg was trying to change the law that limits the terms a mayor can be in the office. This Thursday he won and the City Council vote, a move that clears the way for the billionaire independent to run again and dramatically changes the city’s political landscape.

By a 29-22 vote, the city council gave officeholders the option of three consecutive four-year terms. The existing law allows only two terms, and Bloomberg’s second finishes at the end of 2009.

The former CEO had said that he would like a third term because he strongly believed that his economic expertise could be very useful for the city in this era of economic hardship that we enter.

These may be good news for the Mayor but not for all those who were hoping to run for office in the next election. Greek-American billionaire John Catsimatidis was one of them who had a very good chance of becoming mayor of New York. Catsimatidis in an interview conducted at his 9th Avenue office for had stated previously that he liked Mr. Bloomberg and thought that he is a very good mayor. This is what makes us think that he would not run against the current mayor. No comment have been made from Catsimatidis yet.