Rick Caruso "Very Interested" in Running for Los Angeles Mayor

In a speech to about 160 business and community leaders at Town Hall Los Angeles, Caruso criticized city council members and Mayor Antonio Villaraigosa, accusing them of not tackling unemployment and transportation issues.

Calling City Hall a "roadblock that's keeping Los Angeles from its potential," Caruso said city leaders have handled city budget issues poorly and failed to adequately reduce the size of city government.

"What's happening in Los Angeles is frankly painful to me," he said.

"I'm frustrated that our current political class often seems incapable of recognizing the scope of the city's challenges, let alone addressing them. They look instead to the next election, the next fundraiser, the next ribbon cutting or in many cases tickets to the next sporting event," Caruso said.

"Until we stop nibbling at the edges and have significant structural reforms, businesses will continue to flee the city."

Caruso is president and CEO of Caruso Affiliated, which is known for building "town center" malls like the Grove and Americana at Brand.

He served on the Board of Water and Power Commissioners from 1985-1993 and again from 1997-2000, and he served two terms as president of the Police Commission.

Caruso considered running against Villaraigosa in 2009 but declined, saying the job would place too heavy a burden on his family.