Caruso: 'I love L.A.' but won't run for mayor

Billionaire developter Rick Caruso, saying it would pose too great a hardship on his family, announced this morning he will not challenge Mayor Antonio Villaraigosa for mayor in the election next March.
Caruso, a former president of the Los Angeles Police Commission and the Board of Water and Power Commissioner, released a statement saying he had thought about the possible challenge to Villaraigosa for several months. And, in the end, he decided it would be too much of a burden on his familiy.
Villaraigosa was in Chicago and had no immediate comment.
The decision, however, leaves Villaraigosa with challenges from about 10 announced candidates, none expected to be able to mount a major challenge to him.
Here is Caruso's full statement:
"For the last few months I have been considering a potential run for
Mayor because I care a great deal about Los Angeles. I grew up in Los Angeles,
attended school here, started my business here and have invested a great deal
in this community, both in time and resources. I have raised my family here. I
love Los Angeles.
"As I considered a run for mayor, given my experience both in the civic
arena and in private business, I am confident that I have much to offer this
city, both in terms of leadership and a passion for improving our community.
For me personally however, my first consideration had to be whether, for my
family, this was the right time for me to run.
"And, while I am genuinely grateful for all the encouragement I have
received from people all over this city to run for mayor and the confidence
they put in me, I have decided that the obligation of serving as mayor would
put a burden on my family that is too much at this point in their lives and, as
a result, I will not be a candidate in the upcoming campaign for mayor. Having
worked closely with Mayors in the past, I understand the commitment necessary
to properly fill that role, and it is not the right time for me to commit
myself wholly to the City at the expense of my family, particularly my young
children.
"My most enthusiastic cheerleaders encouraging me to jump into this race
hav\e been my four children. However, my wife Tina and I have always put our
children first and I think that it would be better if the two youngest children
were a little older before they make the sacrifices that are required of the
families of elected officials. I hope there will be other opportunities for me
to run for mayor, but my children will only be kids once.
"Having an interest in serving my city is not new to me. I was proud to
serve as President of the LA Department of Water and Power Commission for
nearly 10 years, and to serve as President of the Police Commission during a
very important time for the Department. Serving Mayors Bradley, Riordan, and
Hahn was a great honor for me. Having served in those roles, I saw firsthand
how important City Hall is to the everyday lives of Los Angeles residents. I
have seen how much can be accomplished when the tools available to our leaders
are used in a manner focused on solving problems and making our city more
livable.
"I have also built a business in Los Angeles, and understand from the
private sector side, how government can help and also fail those trying to
start a business, build a career, and raise their family here in our city.
Right now Los Angeles is struggling. The LAPD, despite promises and increased
taxes, remains understaffed. Instead of improved transit systems, we see more
and more red tail lights. And economic redevelopment and improvements to our
most underserved communities continues to lag.
"These are very, very tough economic times. This City needs leaders that
have a singular focus on improving the quality of life for all Los Angeles
residents. There are good people in City Hall, and it is my hope that
collectively, they can refocus their efforts on our City's problems in the
months ahead so we realize Los Angeles' full potential. This was a very
difficult decision for me to reach because of my devotion to this city, but
today my role will remain as an interested and active private citizen and I
will focus for now on my family, my business, and my community-based charitable
activities."