Oct 20, 2008 7:55 pm US/Eastern
Billionaire Battle: Golisano Out To Stop Bloomberg
Term Limits Debate Coming Down To A Face-Off Between The Filthy Rich; Golisano Says Public Should Decide
NEW YORK (CBS) ―
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Billionaire Tom Golisano announced on Oct. 20 he will spend whatever is necessary to thwart Mayor Bloomberg's quest to get the City Council to give him the right to run again.
CBS
Businessman Tom Golisano has jumped into the term limits debate, vowing to use his deep pockets to thwart Mayor Michael Bloomberg's attempt to serve another term.
Bloomberg is No. 8 on the list of America's richest men. Golisano is No. 281. On Monday he vowed to put his vast wealth into the campaign to stop the City Council from giving the mayor another term.
"Since the inmates in so many cases run this institution and they don't want to fix it, as a New Yorker, I feel term limits may be our only defense," Golisano said.
Golisano said a term limits extension should only be granted by the public -- not the City Council -- in a referendum.
"The people have the right and deserve the opportunity to make this decision no matter how great of a job he's done," Golisano said. "The people in the end must make the decision on this term limits issue."
Conservative Party Chairman Michael Long joined Golisano, saying Bloomberg is an example of why term limits are necessary.
"Here's a man who came with great reform ideas," Long said. "Here's a man who did accomplish a lot of good in this city, but the corruption of his own principals took place by him now rolling over the citizens of the city of New York who voted twice for term limits."
To stop the City Council, Golisano, who has run for governor three times, said he will take out ads in newspapers and on radio and television.
Bloomberg made light of the money Golisano intends to spend against him.
"Well, if he spends a lot of money in New York City, I think that's wonderful," Bloomberg said. "The business, the advertising business, isn't all that good at the moment. If he wants to spend his money, that's fine."
The City Council could vote on the issue as early as Thursday.
Golisano also said that if the mayor gets the City Council to pass a term limit extension. He would spend his wealth for court challenges.
And if that fails, Golisano threatened to back Bloomberg's challengers.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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