Business executives have responded to Mayor Eric Adams’ indictment with a deafening silence.
The only person who has agreed to speak to reporters on the record is Kathy Wylde, the CEO of the Partnership for New York City.

As the chairman of the trade group that represents the biggest businesses in the city, she stresses that while the mayor’s fate is being decided, political, corporate, and civic leaders must concentrate on the most important challenges facing the city. “The mayor’s case cannot take precedence over the administration’s important projects and policy initiatives,” Wylde stated.

Other significant business associations, such as the borough chambers of commerce, the Association for a Better New York, and the Real Estate Board of New York, have remained silent in the meantime.

It is hardly unexpected that they are cautious. When a current mayor has the potential to negatively impact their businesses, business leaders are reluctant to criticize them. They have also been devoted supporters of this mayor because they share his goals of combating crime, promoting economic growth, and addressing the housing crisis, as well as because he is a stark contrast to his predecessor, Bill de Blasio, who frequently attacked them.

The most significant finding in-depth background interviews over the past few weeks is that business executives dislike the candidates who have declared for mayor thus far due to their radical stances.
One company leader stated, “There is a lot of frustration because folks wanted Eric to succeed.”
The mayor’s ambitious City of Yes housing plan, which aims to encourage the development of up to 100,000 new houses over the next 15 years, will be put to the test first. Hours before it was announced that Adams would face charges, the City Planning Commission approved the plan by a vote of 10-3 on Wednesday and sent it to the City Council.

The Council was already being begged by City of Yes supporters not to associate the city with the mayor’s problems. “The mayor is no longer at the center of this. Two weeks ago, Rachel Fee, executive director of the New York Housing Conference, told the sources, “It’s about what the city needs.” “The 51 members of the City Council must express their positions on expanding the housing supply.”

The accusation, which claimed he received free travel from Turkish interests, promoted unlawful donations to his campaign, and persuaded local authorities to favor Turkish allies, is not universally acknowledged by business executives as evidence of significant misconduct.