Rick Caruso 'leaning' towards mayoral run

He tells Bloomberg that he'll have to make a decision sometime next year (Villaraigosa is termed out in 2013). The billionaire developer has considered running in the past.

The city needs to do a better job keeping and attracting businesses, rework its pension system and encourage development, he said. He also imagines a monorail along Interstate 10 from downtown Los Angeles to the coast going up faster than a planned "subway to the sea," which could take decades to build.