CEO’s Press Conference Lacks Apologies Amid Controversy

Zoran Mamdani’s recent attempts to address backlash from the business community over a peculiar social media post targeting fellow leader Ken Griffin may not have included any real apologies.

Interestingly, during a press conference with JPMorgan CEO Jamie Dimon and Goldman Sachs CEO David Solomon, neither Griffin’s name nor Mamdani’s controversial stunt—where he stood outside Griffin’s penthouse boasting about taxing the wealthy—was mentioned.

It’s not just about policy; the rhetoric aimed at Griffin seems harmful, potentially driving out crucial investors the city needs, especially considering the recent incidents of violence against high-profile business figures by more extreme left factions.

Some might say to not fault the left-leaning mayor for overlooking such issues. Instead, it’s Dimon and Solomon who could be criticized for not gently reminding Mamdani how his words are making the city less friendly to businesses.

Sure, both of them are key employers in the city, and you could argue they have a lot at stake. But they’ve already faced significant losses, and their long partnership with city and state leaders has only put a target on their backs regarding taxing and other policies that threaten middle-class workers.

As they say in boxing, Mamdani seemed to be on the ropes.

This meeting was organized last month after the Partnership for New York City indicated that Mamdani’s social media approach regarding Griffin was not well-received among those who contribute significantly to the city’s tax base.

His left-leaning policies and sudden ideological shift have prompted many business leaders, who once felt secure, to start contemplating leaving. Alarmed city officials began reaching out to business leaders, expressing that their feelings were misinterpreted, even as they held views suggesting the wealthy weren’t paying their fair share.

This situation is quite complex, but even two of the sharpest business minds I know are grappling with it.

A JPMorgan representative claimed that Dimon and Mamdani found common ground. “It was a constructive and friendly meeting about fostering public-private partnerships.”

However, Griffin’s name “never came up” during this supposedly amicable gathering.

In the past, Dimon even gifted Mamdani a book on economic development, perhaps hoping to bridge some ideological divides.

In a similar vein, Solomon met Mamdani at Gracie Mansion for discussions, seemingly adhering to the unwritten rules of engagement.

There was no pressing need to mention Griffin explicitly, according to a source familiar with Solomon’s reasoning, since “Both Dimon and Solomon made it clear that they didn’t want to hinder the mayor’s presence in the city.”

Despite the circumstances, they seemed to get along so well that Solomon, who also DJs on the side, invited Mamdani to Goldman Sachs’ renowned headquarters, perhaps to debunk myths about bankers.

Or maybe there’s something about Mamdani’s music choices; after all, he was into rap before diving into politics.

Meanwhile, Griffin, who has been defiant in the face of threats from the mayor, paused to address Mamdani’s influence at a recent Milken Institute meeting. He expressed his intention to expand in Miami rather than New York, noting Miami’s government fosters “the American Dream and the promise of success, rather than encouraging dependence on government support.”

Well expressed. It raises the question: why didn’t Dimon and Solomon make similar points? What holds them back?