Just days before Barack Obama was elected president, Pepsi unveiled a new logo. According to some, the updated logo bears a striking resemblance to Obama’s campaign logo. Wonkette said it was “what would happen if a can of Tab had sex with Barack Obama.”

To me, the notion that Pepsi would consciously mimic the Obama logo seems like a bit of a stretch. Considering how fickle poll numbers can be, why would a major mass-market brand risk being seen as promoting a particular politician? Nobody in politics remains popular forever.

But when I left work Monday evening, I saw something that made me wonder if I my assumptions were wrong.

You see, my office is in Times Square, where advertisers are revving up for the millions of people who will see tonight’s New Year’s Eve festivities.

And directly across the street from my office, at the base of the building where a crystalline sphere counts down the final seconds of every year, Pepsi placed a sign that looked familiar:

In case your memory wasn’t jogged by the photo above, here’s a hint:

If Pepsi is invoking Obama’s campaign materials deliberately—and I have no reason to believe that they are—then maybe the folks behind it see some business sense in doing so.

Judging from the volume of painted plates and limited-edition coins being hawked on TV ads that gush about Obama’s “kind eyes and warm smile,” the Merchandising of the President-Elect might be the only growth industry left.

Here in NYC, you can’t walk a block in midtown without passing several street vendors pushing Obamawear. But maybe I’m only perceiving this avalanche of advertising and street trinkets because I’m stuck inside the New York bubble.

Could Obama’s campaign imagery help sell sugared water to a entire nation?

I’m skeptical. The United States isn’t Manhattan, and selecting a particular brand of cola isn’t usually where people make political statements.

If the new Pepsi logo was designed to evoke the Obama logo, maybe the Ad Men of Madison Avenue—unable to see outside the New York bubble themselves—simply miscalculated on something that could backfire. Or maybe they launched this redesign fully aware that they were using one of the world’s most recognizable brands as collateral in a big bet on the political fortunes of one person.

Mad Men indeed.