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&lt;p&gt;Following the likes of Michael Bloomberg, Jon Corzine, Hank Paulson and others who&#39;ve jumped from Wall Street-type of jobs to public service ones, Austin Beutner, &lt;span id=&quot;RDS_Site&quot;&gt;the co-founder of investment bank Evercore Partners and former Blackstone Group partner, has announced his intentions to &quot;explore&quot; running for mayor of Los Angeles.&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;img class=&quot;embeddedObject&quot; src=&quot;http://content.screencast.com/users/dloos/folders/Jing/media/93d45434-e9e3-4162-9db5-35dadd36eacc/00000380.png&quot; border=&quot;0&quot; alt=&quot;&quot; width=&quot;260&quot; height=&quot;327&quot; align=&quot;left&quot;&gt;To do so, Beutner has relinquished his post as head of the current L.A. mayor&#39;s Office of Economic Development, a position paying the millionaire ex-banker just $1 a year (Beutner agreed to the nominal salary due to his wealth and the city&#39;s poor financial situation).&lt;/p&gt;&lt;p&gt;&lt;span id=&quot;RDS_Site&quot;&gt;How Beutner made his way to that post began in 2007 when he was seriously injured in a bicycle accident. In mid-2008, while still recovering, Beutner retired from Evercore. He joined the mayor&#39;s office at the beginning of 2010.&lt;br&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;The current L.A. mayor, A&lt;/span&gt;&lt;span id=&quot;RDS_Site&quot;&gt;ntonio Villaraigosa, will end his reign in 2013 (term limits prevent him from running again), at which time Beutner, along with a host of others, are expected to enter into a highly-competitive race to succeed him.&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span id=&quot;RDS_Site&quot;&gt;As for Beutner&#39;s track record so far working in the government sector,&lt;/span&gt; his boss, Villaraigosa, has only praise for him.&lt;/p&gt;&lt;p&gt;&quot;He went out and started cold calling,&quot; Villaraigosa said. &quot;We no longer let the palm trees do our marketing, and we have made L.A. more business friendly.&quot; The mayor also said Beutner &quot;played a key role in business policies that expanded the state enterprise zones and helped firms such as Google, Target and Mission Foods to move to Los Angeles.&quot;&lt;/p&gt;&lt;p&gt;(Daily News: Auston Beutner Readying For Possible Mayoral Run)&lt;/p&gt;&lt;p&gt;(Related: Evercore Founder Enlisted to Save L.A.)&lt;/p&gt;&lt;p&gt;&lt;span id=&quot;RDS_Site&quot;&gt; &lt;/span&gt;&lt;/p&gt;

Derek Loosvelt

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