business news in context, analysis with attitude

by Kevin Coupe

This may explain some of the problems that Gristedes has had in recent years.

The New York Times reports that John A. Catsimatidis, the owner of Gristedes who ran for the Republican mayoral nomination in New York City and lost, spent what works out to be $419 per vote in the recent primary, far more than the winner of the primary, Joseph J. Lhota, spent - $119 per vote. (Catsimatidis spent $10.4 million in the primary election, compared to the $3.8 million spent by Lhota.)

Catsimatidis also vastly outspent Bill de Blasio, winner of the Democratic primary, who came in at $24 per vote on a budget of $6.8 million. Perhaps the most infamous candidate in either primary - Anthony D. Weiner, the disgraced former Congressman who became better known for texting pictures of his personal body parts to women he didn't know than for his political philosophy - spent more than $190 per vote, the second most, compared to Catsimatidis, but only came in fifth in the Democratic primary.

Not exactly what I would call a savvy investment.

But it is an Eye-Opener.
KC's View: