"I'll be going on a mini-vacation," she said. "I want to read a book of no intellectual value and watch the waves for a few days."
This was not unexpected. It had been widely rumored that Mitch Landrieu's last minute entry in the race would ultimately force Jacobs to yield.
In an interview, Jacobs said she made her decision after reviewing results from a poll she commissioned last week.
"Those numbers confirmed what I thought: Once Mitch entered the race, I could not win," she said. "I am a Democrat, he's a Democrat. And I think it's safe to say our bases overlap -- very much so."
Jacobs, a wealthy businesswoman who had been waging an aggressive television campaign, confirmed earlier reports that she consulted with Landrieu before announcing her candidacy on Nov. 18, about three weeks before qualifying opened.
At the time of their meeting, Jacobs said Landrieu told her "there was a possibility, not a probability" that he would run after announcing in July that he would not.
"He said the odds were low," Jacobs said, "but that he would leave that door open. So I took a calculated risk on my part. Mitch had the luxury of name recognition so he could decide at the last minute. I didn't have that luxury."
What does this mean for other candidates?
On the face of it, it would appear that Mitch Landrieu is the most direct beneficiary of Jacobs' decision to sit out. The two were essentially competing for the same pool of voters. I'm sure Jacobs' poll showed Landrieu way out ahead of the field. That he no longer has a well-heeled challenger biting at his heels, he has less work to do.
John Georges is also probably pretty happy that he has one less WMA (White Mitch Alternative) with whom he'll have to compete. Jacobs was going to be the only candidate capable of buying TV commercial time to the extent Georges can. He'll be able to dominate the airwaves.
James Perry might also squeeze a few votes out of the situation. Jacobs was definitely hoping to win over some of the post-Katrina young transplants that Perry has courted aggressively.