Latest Breaking News Online News Portal
Barstool Sports founder Dave Portnoy weighs in on Zohran Mamdani’s grocery store plan, Nantucket’s viral ‘No Influencers’ sign, stay-at-home boyfriends and why money isn’t an excuse for dating.
New York City Mayor Zohran Mamdani’s taxpayer-funded grocery store proposal is reigniting debate over whether government-run businesses can compete over the long term without relying on public subsidies.
Barstool Sports founder Dave Portnoy joined FOX Business’ Stuart Varney on “Varney & Co.” to weigh in on Mamdani’s proposal, which has sparked debate over whether taxpayer-funded grocery stores could reduce food costs for consumers while remaining financially sustainable.
NYC Mayor Zohran Mamdani, mayor of New York, holds up bananas labeled with a 30% off sticker during an announcement on municipal grocery stores. (Adam Gray/Bloomberg / Getty Images)
Portnoy said he was initially confused by reports about how shoppers would access the stores, noting that earlier discussions appeared to suggest some type of membership card would be required.
“This is crazy to let… anybody go,” Portnoy said.
While critical of the proposal, Portnoy predicted the stores could appear successful during their early months because of significant public funding.
Manhattan Institute senior fellow John Ketcham discusses New York City Mayor Zohran Mamdani’s proposed city-run grocery plan and why bodega owners say it could threaten their businesses on ‘Maria Bartiromo’s Wall Street.’
MAMDANI’S TAX ROLL BLUNDER WILL BACKFIRE ON EVERYDAY NEW YORKERS AS BUYERS HEAD SOUTH, DEVELOPER WARNS
“I think this is going to be very successful, this grocery store, in the short term,” he said. “If you’re gonna put… some astronomical amount of money into this, I think it’s gonna sorta be a mirage.”
Portnoy argued that heavy taxpayer subsidies could temporarily mask the true economics of operating a grocery business.
‘The Big Money Show’ discusses NYC Mayor Zohran Mamdani’s controversial plans, including a $9 billion childcare program and ousting business leaders from a mayor’s fund.
“I think taxpayers will make this work, and he’s gonna look how great communism, socialism is,” Portnoy said, adding that the program should not be judged on its first several months.
Instead, he said the real test would come years later, when the operation would have to sustain itself.
KEN GRIFFIN’S NYC SKYSCRAPER MOVES FORWARD DESPITE FEUD WITH MAYOR ZOHRAN MAMDANI
Multicultural Business Coalition Chairman Frank Garcia says the mayor did not want to meet with his group over concerns about the city-run grocery store project on ‘The Bottom Line.’
“Talk to me in two years, talk to me three years when you’re running an actual business and have to maintain it,” Portnoy said. “That’s when it’s gonna be hard.”
Because of that, Portnoy characterized the proposal as “kind of a publicity stunt,” arguing that its early performance would not necessarily reflect its long-term viability.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
