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It wasn't money or early polls that made Beutner drop out of L.A. mayoral race

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Kevork Djansezian/Getty Images

Los Angeles Mayor Antonio Villaraigosa and Austin Beutner during an event. Beutner dropped out of the 2013 mayoral race on Tuesday.

Austin Beutner may have dropped out the race to become mayor of Los Angeles, but he hasn't dropped out of the race to keep talking about what L.A. needs to do to fix its problems. I'd been following his campaign fairly closely for almost a year, mainly because I was intrigued by his work as first deputy mayor under Antonio Villaraigosa; and because it was interesting to see a former investment banker with no real public sector background try to turn himself into a West Coast version of New York's Michael Bloomberg (Beutner calls Bloomberg the "archetype of a modern big-city mayor").

Why did he drop out? "When you get to this stage, it's 24/7," he said when I spoke to him earlier today. "It's like you're in a off-off-off Broadway show, with four performances a day and no understudy." He just wasn't able to be the kind of parent he wanted to be. Now he's back on "carpool" duty, he quipped.

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No investment-banker mayor for L.A.: Austin Beutner drops out

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Mark Sullivan/Getty Images for The Broad Stage

Austin Beutner on stage during the preview of The Broad Stage 2010-2011 schedule. The former investment banker and deputy mayor dropped out of the race for mayor of L.A. today.

Austin Beutner, the retired investment banker who was running for mayor of Los Angeles but who wasn't polling anywhere near other candidates or raising as much money, has dropped out of the race. Our new politics blogger, Alice Walton, has the lowdown. His stated explanation is that he wants to refocus on his family. This is from the statement his campaign released earlier today:

I have decided to withdraw from the Los Angeles Mayoral Race.  While everything I’ve learned exploring the possibility has reinforced my view of how much our city needs leadership who will solve problems, it has also reminded me of my responsibilities as a husband and father.  My family has been my biggest supporter in this effort, but my own needs at this time are for me to be engaged with my family in a way which is at odds with the demands of a campaign.

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Will his background in private equity undermine Austin Beutner's LA mayoral race message?

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Mark Sullivan/Getty Images for The Broad Stage

File: Austin Beutner on stage during the preview of The Broad Stage 2010-2011 schedule at The Broad Stage on April 22, 2010 in Santa Monica.

Los Angeles mayoral candidate Austen Beutner gave a Town Hall Los Angeles speech yesterday at Center for the Preservation of Democracy in Downtown LA. The core topic? Getting "Los Angeles back to work."

In the speech, Beutner rolled out a kind of plan for a plan, highlighting areas he intends to focus on to rebuild the city's economy, which is currently facing a budget deficit of something like $200-$250 million and unemployment in LA County of 11.5 percent, three points higher than the national rate of 8.5 percent.

It's just an outline, although Beutner characterized it as an "ambitious agenda." The candidate — who came to city government as a "jobs czar" from a very successful career in banking and private equity, as well as in the Clinton Administration — zeroed in on six key job-creating areas: trade; technology and education; tourism; manufacturing; transportation; and small business.

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