What is Michael Bloomberg?

Michael Bloomberg
Michael Bloomberg
Preceded by
Succeeded by
Political party	Labour Party
Spouse	Susan Brown (divorced)
Alma mater	Johns Hopkins University
Religion	Judaism

Michael Rubens Bloomberg (born 14 February 1942) is an American businessman, and the founder of Bloomberg L.P., currently serving as the Mayor of New York City. He was a general partner at Salomon Brothers before founding the financial software service company in 1981. Although a lifelong Democrat, he ran on the Republican ballot and was elected mayor in 2001, and was reelected to a second term in 2005. He is frequently mentioned as a possible independent candidate for the 2008 presidential election and fueled that speculation when he left the Republican Party in June 2007; ^[1] however, he has denied having any plans to run and says the news media had concocted his possible presidential run.

Bloomberg was born to a Jewish family of Russian^[2] and Polish^[3] ancestry, at St. Elizabeth's Hospital, in the Boston neighborhood of Brighton on 14 February 1942. His parents were Charlotte Rubens, living in 2006, and William Henry Bloomberg, who was born in Chelsea, Massachusetts, the son of Elick Bloomberg, a Russian Jewish immigrant and a real-estate agent.^[3] He lived at 100 Brainerd Road, in the Boston neighborhood of Allston, until he was two years old, when the family moved to Atherton Road, in Brookline, Massachusetts. When he was four, his family moved to Medford, Massachusetts, a Boston suburb. He lived there until after he graduated from college. He attended Johns Hopkins University, where he joined Phi Kappa Psi, and graduated in 1964 with a Bachelor of Science (B.S.) degree in electrical engineering. Later he received his Master of Business Administration (MBA) degree from Harvard Business School. He is an Eagle Scout in the Boy Scouts of America.^[4][5]

Bloomberg married Yorkshire-born Susan Brown in 1975. After 18 years of marriage, they divorced in 1993. They had two daughters, Georgina Bloomberg (who has been featured on Born Rich, a documentary film about the children of the extremely wealthy) and Emma Bloomberg. Georgina was romantically linked in 2007 with Cian O'Connor, the Irish showjumper whose 2004 Olympic gold medal was withdrawn.^[6] His current girlfriend is former New York state banking superintendent Diana Taylor. His younger sister, Marjorie Tiven, is Commissioner of the New York City Commission for the United Nations, Consular Corps and Protocol. His mother, Charlotte Bloomberg (born 3 January 1909), is reported to be in very good health for her age.

Bloomberg was a general partner at Salomon Brothers, where he headed equity trading, sales and, later, systems development. He made his fortune with his own company, Bloomberg L.P., selling financial information terminals to Wall Street firms; the company also began a radio network (the flagship station is 1130 WBBR-AM in New York City).

Bloomberg is among the world's richest people. He was ranked 34th by Forbes magazine in its list of 400 Richest Americans in September 2006. He was ranked 142nd in its list of the The World's Billionaires in March 2007. Bloomberg has written an autobiography, Bloomberg by Bloomberg (1997, ISBN 0-471-15545-4).

Bloomberg does not reside in Gracie Mansion, the official mayor's mansion, but at his own home elsewhere on the Upper East Side (17 East 79th Street between Madison and Fifth Avenues). He maintains his home address in the white pages and often rides the subway to City Hall. Bloomberg also owns homes in Britain and in the British territory of Bermuda.

Bloomberg currently serves as an ex-officio trustee of the Museum of Modern Art.

Philanthropy

Forbes and other sources report his net worth at US$11.5 billion as of 2007,^[7] which, in addition to aiding his political career, has allowed him to engage in substantial philanthropy, including the donation of over US$300 million to Johns Hopkins University,^[8] where he served as the chairman of the board from 1996 to 2002.

According to the Chronicle of Philanthropy, Mr. Bloomberg donated and or pledged $138 million in 2004, $144 million in 2005 and $165 million in 2006.^[9] 2006 recipients include the Campaign for Tobacco-Free Kids; Centers for Disease Control and Prevention; Johns Hopkins Bloomberg School for Public Health; World Lung Foundation and the World Health Organization.

According to The New York Times,^[10] Mr. Bloomberg has been an “anonymous donor” to the Carnegie Corporation each year for the last several years with gifts ranging from $5-$20 million. The Carnegie Corporation has distributed this contribution to hundreds of New York City organizations^[11] ranging from the Dance Theater of Harlem to Gilda’s Club, a not-for-profit organization that provides support to people and families living with cancer.

In 1996, Bloomberg endowed the William Henry Bloomberg Professorship at Harvard with a $3 million gift in honor of his father, who died in 1963, saying, "throughout his life, he recognized the importance of reaching out to the nonprofit sector to help better the welfare of the entire community."^[12] He also endowed his hometown synagogue, which was renamed for his parents, Temple Shalom, the William and Charlotte Bloomberg Jewish Community Center of Medford.^[13]

His charitable contributions were such that he was ranked seventh in the United States in philanthropic endeavors.

Harassment controversies

Bloomberg has been sued over allegations about sexual harassment and discrimination at his companies.^[14] Allegedly, he said "I'd do her" in reference to a female employee, and complained when one woman became pregnant.^[15] All lawsuits over these issues were withdrawn or settled outside of the courts.^[16]

Awards and honors

In February 2003, Bloomberg received the "Award for Distinguished Leadership in Global Capital Markets" from the Yale School of Management. He was named the 39th most influential person in the world in the 2007 Time 100.^[17] In September, 2007, Vanity Fair ranked him #9 their "Vanity Fair 100: The 2007 New Establishment."^[18] At the 2007 Commencement exercises for Tufts University, Mayor Bloomberg, a native of Medford, Massachusetts, delivered the commencement address at graduation. He was also awarded an honorary degree in Public Service from the university.

Political career

2001 election

In 2001, the incumbent mayor, Rudy Giuliani, was ineligible for re-election, as New York limits the mayoralty to two terms. Several well-known New York City politicians aspired to succeed him. Bloomberg, a lifelong member of the Democratic Party, decided to run for mayor as a member of the Republican Party.

Voting in the primary began on the morning of 11 September 2001. Later that day, however, because of the World Trade Center September 11, 2001 attacks, the primary was postponed. In the rescheduled primary, Bloomberg defeated Herman Badillo, a former Congressman, to become the Republican nominee. The Democratic primary did not produce a first-round winner. There was a runoff, in which the nomination went to New York City Public Advocate Mark J. Green.

In the general election, Bloomberg had Giuliani's endorsement. He also enjoyed a huge spending advantage. New York City's campaign finance law restricted the contributions a candidate could accept, but Bloomberg exercised his right to opt out of this law, attracting some criticism. He spent some $73 million of his own money on his campaign, outspending Green by five to one.^[19] One of the major themes of his campaign was that, with the city's economy suffering from the effects of the attacks, it needed a mayor with business experience.

In addition to being the Republican nominee, Bloomberg had the ballot line of the controversial Independence Party, in which "Social Therapy" leaders Fred Newman and Lenora Fulani exert strong influence. Some say that endorsement was important, as Bloomberg's votes on that line exceeded his margin of victory over Green. (Under New York's fusion rules, a candidate can run on more than one party's line and combine all the votes received on all lines. Green, the Democrat, also had the ballot line of the Working Families Party and Bloomberg also created an independent line called Students First whose votes were combined with those on the Independence line. The Republican votes exceeded the Democratic votes, however.) Another factor was the vote on Staten Island, which has traditionally been far friendlier to Republicans than the rest of the city. Bloomberg crushed Green in that borough, taking 75% of the vote there. Overall, Bloomberg won 50% to 48%.

Bloomberg declined the mayor's salary, accepting remuneration of $1.00 annually. He is considered a social-liberal, who is pro-choice, in favor of legalizing same-sex marriage and an advocate for stricter gun control laws.

Bloomberg's election marked the first time in New York City history that two different Republicans had been elected mayor consecutively.

2005 election

Bloomberg was re-elected mayor in November 2005 by a margin of 20%, the widest margin ever for a Republican mayor of New York. [1]

Bloomberg had spent over $66 million on his campaign by late October 2005, and was projected to exceed the record of $74 million he spent on the previous election. He chose not to use public campaign funds and therefore his campaign was not subject to the restrictions imposed on candidates who accept such funding.

In late 2004 or early 2005, he gave the Independence Party $250,000 to fund a phone bank seeking to recruit volunteers for his re-election campaign. [2]

Former Bronx Borough President Fernando Ferrer won the Democratic nomination to oppose Bloomberg in the general election; there was no opposition in the Republican primary, as Bloomberg's campaign successfully sued to keep Thomas Ognibene off the ballot. Ognibene, who ultimately ran on the Conservative Party ticket, accused Bloomberg of betraying Republican Party ideals.

Bloomberg was the most prominent Republican to oppose the confirmation of John Roberts as Chief Justice of the United States. [3] Though a Republican at the time, Bloomberg is a staunch supporter of abortion rights and did not believe that Roberts was committed to maintaining Roe v. Wade.

In addition to receiving Republican support, Bloomberg obtained the endorsements of several prominent Democrats: former Democratic Mayor Ed Koch, former Democratic governor Hugh Carey, former Democratic City Council Speaker Peter Vallone, his son, Councilman Peter Vallone, Jr., former Democratic Congressman Floyd Flake (who had previously endorsed Bloomberg in 2001), and Brooklyn Borough President Marty Markowitz. [4]

Mayoralty

Main article: Mayoralty of Michael Bloomberg

Bloomberg assumed office as the 108th Mayor of New York City on January 1, 2002. He won reelection in 2005. Bloomberg has maintained high levels of approval through his tenure as Mayor.

Bloomberg has said he wants reforming public education to be the legacy of his first term and addressing poverty to be the legacy of his second.^[20] He is known as a political pragmatist and for a managerial style that reflects his experience in the private sector. Bloomberg has chosen to apply a statistical, results-based approach to city management, appointing city commissioners based on their expertise and granting them wide autonomy in their decision-making. Breaking with 190 years of tradition, Bloomberg implemented a "bullpen" open office plan, reminiscent of a Wall Street trading floor, in which dozens of aides and managerial staff are seated together in a large chamber. The design is intended to promote accountability and accessibility.

Post-Mayoral plans

Bloomberg's term as mayor ends on December 31, 2009. He is prohibited by term limits from being re-elected in November 2009, however, he can be elected mayor again after a four-year wait. The election means that the Republicans have won the previous four mayoral elections (although Bloomberg's decision to leave the Republican Party and be declared an independent on June 19, 2007 resulted in the Republican Party losing the mayor's seat prior to the expiration of his second term). Bloomberg joins Rudy Giuliani and Fiorello LaGuardia as re-elected Republican mayors in this mostly Democratic city. (John Lindsay was also elected mayor of New York twice while a registered Republican; however, Lindsay did not receive the Republican Party nomination during his campaign for re-election, and he switched to the Democratic Party during his second term.)

Mayor Bloomberg has repeatedly stated his intention to return to a life of philanthropy once his eight-year tenure in office expires. In pursuit of this goal, he has purchased a prospective headquarters for his planned foundation on the Upper East Side, originally built by Stuyvesant Fish, for $45 million.

Possible 2008 Presidential campaign

Despite public statements by Bloomberg denying plans for a Presidential run in 2008^[21], many pundits have cited events that lead them to believe that Bloomberg will announce a campaign at a later date. These include several attempts by political leaders and organizers to bring him into the race:

• In summer 2006, he met with Al From of the centrist group the Democratic Leadership Council to talk about the logistics of a possible run.^[22]
• Bloomberg re-launched his personal website (http://www.mikebloomberg.com), which had been defunct since his successful election to a second mayoral term. Writing in the New York Sun, Jill Gardiner noted Bloomberg's site was conspicuously red white and blue and "strikingly similar to the sites of the 2008 presidential candidates.", as well as the domain name (http://mike2008.com) redirecting to his personal website.^[23]. He also launched a Facebook profile and a Myspace page in the summer of 2007. http://thecaucus.blogs.nytimes.com/2007/09/06/bloomberg-creates-new-outlets-for-noncampaign/
• After a conversation with Bloomberg, Republican Senator Chuck Hagel of Nebraska suggested that he and Bloomberg could run on a shared independent ticket for the presidency.^[24]
• On This Week on June 10, 2007, anchor George Stephanopoulos included panelist Jay Carney who mentioned a conversation between Bloomberg and top staffers where he heard Bloomberg ask approximately how much a presidential campaign would cost. Carney said that one staffer replied "around $500 million." According to a Washington Post article, a $500 million budget would allow Bloomberg to circumvent many of the common obstacles faced by third party candidates seeking the White House.^[25]

On June 19, 2007, Bloomberg left the Republican Party, filing as an Independent after a speech criticizing the current political climate in Washington.^[26][27]

In an August 9, 2007 interview with former CBS anchor Dan Rather that aired on August 21, Bloomberg categorically stated that he was not running for President, that he would not be running, and that there were no circumstances in which he would, saying, "If somebody asks me where I stand, I tell them. And that’s not a way to get elected, generally. Nobody’s going to elect me President of the United States. What I’d like to do is to be able to influence the dialogue. I’m a citizen."^[28]

Draft Bloomberg efforts

Several independent efforts, including a New York City based one and a Washington DC based one, are attempting to run a "Draft Michael Bloomberg" campaign.

In November 2006 Virginia Independent leaders, Carey Campbell, Gail Parker, and Joe Oddo launched www.DraftMichael.com, and filed the Committee to Draft Michael Bloomberg for President with the Federal Elections Commission. By July 2007 they had Chairman for nearly every state in the nation leading the 'Draft Michael Bloomberg' effort.

Since the beginning of June 2007 a small group of dedicated New Yorkers have been working on a local Draft Bloomberg campaign (bloomberg08nyc.com)

On August 2, 2007 Draft Michael Bloomberg Director Gail Parker^[29] launched a "Heartland of the Homeland tour to Draft Michael Bloomberg for President". Through August 18th Parker visited with media, and Draft Bloomberg state chairs in North Carolina, Tennessee, Arkansas, Oklahoma and Nebraska. Parker collected petition signatures in Arkansas. She focused on organizing petition drives in two of the nation's most difficult states (Oklahoma, and North Carolina).

On October 12, 2007 Campbell, and Parker on XM radio's POTHUS show reported state chairs in 45 states, and petition drive progress. They talked about their 20/20 vision for combining green (ballot status in 20 states), independent, and Unity 08 ballot status to put Bloomberg on the ballot.

Possible Vice Presidential campaign

While Bloomberg has stated that he will not run for President of the United States, there is some speculation that he would be a candidate for the Vice President. In a blog posting of June 21, 2007 The Politico's Ben Smith asks the question of whether a VP candidate can self-finance an entire presidential ticket.[5] Many believe that Bloomberg would in fact be legally permitted to self-finance a campaign as the VP candidate. Adding more fuel to the speculation that Bloomberg might consider a VP slot are a series of meetings he had with former Georgia Senator Sam Nunn, a Democrat.[6] Nunn expressed his interest in running for president in 2008 and that if he runs, he would do so as an independent.

Political positions

Bloomberg holds a variety of different politicial positions which are generally centrist, drawing from both Democratic Party and Republican Party positions on different key American issues.

Social issues

On the major issue of abortion, Bloomberg is considered pro-choice. He supports abortion rights, stating: "Reproductive choice is a fundamental human right and we can never take it for granted, on this issue, you're either with us or against us." He has criticized politicians who support abortion rights but also supported other candidates who oppose it. His comments may have been directed at New York Senator Chuck Schumer, a supporter of abortion rights who supported Bob Casey, who is pro-life, in the 2006 Senate election. ^[30]

Bloomberg tends to be liberal about his policies towards many social issues; for instance, Bloomberg supports governmental funding for stem cell research, calling the Republican position on the issue "insanity,"^[31] while also supporting same-sex marriage with the rationale that “I think anybody should be allowed to marry anybody" ^[32]

However, he continues to support the strict drug laws that have been established in New York City and enforced by the New York Police Department (NYPD), despite having admitted to smoking marijuana in the past and "[enjoying] it."^[33]

Domestic issues

On crime, the decline in New York criminal activity that occurred throughout Rudy Giuliani's tenure has continued. Bloomberg however is against the death penalty, stating, "I'd rather lock somebody up and throw away the key and put them in hard labor, the ultimate penalty that the law will allow, but I'm opposed to the death penalty." ^[34]

In addition to his anti-crime work, Bloomberg is an avid supporter of gun control stating, "I don't know why people carry guns. Guns kill people." As mayor he increased the mandatory minimum sentence for illegal possession of a loaded handgun. In regards to the change, Bloomberg commented, "Illegal guns don't belong on our streets and we're sending that message loud and clear,we're determined to see that gun dealers who break the law are held accountable, and that criminals who carry illegal loaded guns serve serious time behind bars." ^[34] Bloomberg formed Mayors Against Illegal Guns in May 2007, an organization made up of 210 mayors who are supportive of gun control. ^[36]

Bloomberg has also shown involvement in education reform as the mayor, replacing the school board set up by the state with direct mayoral control over public education. He raised the salaries of teachers by 15% while the test scores of students in the city and the graduation rate rose as well. Bloomberg is opposed to the promotion of students to the next grade level for strictly social reasons citing that students should only be promoted when they are adequately prepared for the next grade level. He favors after school programs to help students that are behind. As mayor, Bloomberg strengthened the cell-phone ban in schools. ^[37]

In dealing with the global warming debate, and New York's role in it, he has enacted a plan called "PlaNYC: A Greener, Greater New York" to fight global warming, protect the environment and prepare New York for the projected 1 million more people expected to be living in the city by the year 2030. ^[38] Bloomberg has also been involved in motivating other cities to make changes, delivering the keynote address at the C40 Large Cities Climate Summit and stating, "[W]e now know beyond a doubt that global warming is a reality. And the question we must all answer is, “What are we going to do about it?" Bloomberg also talked about how he would go about fighting climate change by reducing carbon dioxide emissions, using cleaner and more efficient fuels, and encouraging public transportation. ^[39]

On issues of domestic and homeland security, Bloomberg has attacked social conservatives on immigration calling their stance unrealistic, "We're not going to deport 12 million people, so let's stop this fiction." ^[31] He supports a worker ID database that uses DNA and fingerprint technology to keep record of all workers to verify their status. ^[41] Bloomberg believes that law abiding immigrants should be given citizenship and supports the congressional efforts of John McCain and Ted Kennedy in Immigration Reform. Regarding border security Bloomberg compared it to the tide stating, "It is as if we expect border control agents to do what a century of communism could not: Defeat the natural forces of supply and demand and defeat the natural human instinct for freedom and opportunity. You might as well sit on the beach and tell the tide not to come in." ^[42]

Bloomberg believes that the September 11, 2001 attacks were not intended to be solitary events. When he assumed office he set up a Counterterrorism Bureau which works along with the NYPD intelligence division to gather information about terrorism affecting New York worldwide. He feels that funding for Homeland Security by the federal government should be distributed by risk, where cities that are considered to have the highest threat for a terrorist attack would get the most money. ^[43] Bloomberg is also a supporter of the USA PATRIOT Act. ^[44]

Economic issues

Economically, Bloomberg tends to be conservative, expressing a distaste of taxes stating, "Taxes are not good things, but if you want services, somebody's got to pay for them so they're a necessary evil." ^[45] As mayor he did raise property taxes to fund budget projects, however in January 2007 he proposed cuts in property taxes by 5% and cuts in sales taxes including the elimination of taxes on clothing and footware. Bloomberg pointed to the Wall Street profits, and real estate market as evidence that the city's economy is booming and could handle a tax break. These policies reflect the perception of Bloomberg as a fiscal conservative. ^[46]

This fiscal conservativism also led him to eliminate the previous $6 Billion deficit when he assumed office. He balanced the budget of New York City by raising property taxes and making cuts to city agencies excluding the Police and Fire Departments. ^[47] As a businessman, Bloomberg is respected by the business community and governs with a pro-business platform. He is in favor of providing tax breaks to big corporations for the good of the whole community. As mayor Bloomberg lobbied to the CEO of Goldman Sachs to establish their headquarters across from Ground zero by promising $1.65 billion in tax breaks. In regards to the deal Bloomberg stated, "This [New York City] is where the best want to live and work. So I told him [CEO of Goldman Sachs], `We can help with minimizing taxes. Minimizing your rent. Improving security. But in the end, this is about people.'" ^[48]

He has had a less cordial relationship with unions as mayor; in 2002, when New York City's transit workers threatened to strike, Bloomberg responded by riding a mountain bike through the city to show how the city could deal with the transit strike finding alternate means of transportation and not pandering to the unions. ^[49]

Bloomberg is a staunch advocate of free trade and is strongly opposed to protectionism stating, "The things that we have to worry about is this protectionist movement that has reared its head again in this country...." He worries about the growth of China and fears the lessening gap between the United States and other countries, "The rest of the world is catching up, and, there are people that say, surpassing us. I hope they are wrong. I hope those who think we are still in good shape are right. But nevertheless, the time to address these issues is right now." ^[50]

More liberally, Bloomberg puts a strong emphasis on public health and welfare, adopting many liberal policies. As the mayor he made HIV, diabetes and hypertension all top priorities. He extended the city's smoking ban to all commercial establishments and implemented a trans fat ban in restaurants. ^[51] He also launched a program called Opportunity NYC which is the nation's first-ever conditional cash transfer pilot program designed to help New Yorkers break the cycle of poverty in the city. He instituted a $7.5 Billion municipal affordable housing plan, the largest in the nation, that is supposed to provide 500,000 New Yorkers with housing. ^[52] Bloomberg is concerned about poverty and growing class divisions stating, "This society cannot go forward, the way we have been going forward, where the gap between the rich and the poor keeps growing." ^[53]

Foreign policy

As mayor, Bloomberg has made trips to Mexico, England, Ireland, and Israel in the first four months of 2007, during his consideration of a Presidential campaign. ^[54] Bloomberg initially strongly supported the war in Iraq and the rationale for going in. He stated, "Don't forget that the war started not very many blocks from here" alluding to Ground Zero. In regards to the global War on Terrorism including Iraq he said, "It's not only to protect Americans. It's America's responsibility to protect people around the world who want to be free." His enthusiasm seems to have lessened somewhat over the course of the war. In August of 2005 he said, "I think everybody has very mixed emotions about the war that was started to find weapons of mass destruction and then they were not found." ^[55] Bloomberg expresses criticism about Democrats in Congress who want to set a timetable for withdraw from Iraq calling them, "irresponsible." ^[56]

References

External links

• Grading Mayoral Control, City Journal, Summer 2007
• Mike Bloomberg official site
• CityMayors.com profile
• Encyclopaedia Britannica, Michael Bloomberg biography
• Mayors Against Illegal Guns Coalition webpage
• Michael Bloomberg at the Open Directory Project

Media

• NYC TV
• 2007 Time 100 at Time.com
• Vanity Fair: The 2007 New Establishment September 5, 2007
• America's Best Leaders: Michael Bloomberg October 22, 2006
• Bloomberg Quits Republican Party news from the New York Observer
• Ferrer, Ognibene Take Shots At Absent Mayor In First Debate October 6, 2005
• The Mayor And His Money October 3, 2005
• Video of speech at cornerstone laying ceremony for the Freedom Tower July 4, 2004
• Primal Fear Short piece supporting a Badillo-Bloomberg Republican primary, Summer 2001

Campaign

• Americans for Bloomberg
• Mike Bloomberg for President
• Committee to Draft Michael Bloomberg for President website
• Petition site to encourage Michael Bloomberg to run for President
• Gotham Gazette 2005 webpage
• New York Times 2005 Endorsement
• Campaign contributions made by Michael Bloomberg

Political offices
Preceded by Rudolph W. Giuliani	Mayor of New York City 2002 – present	Incumbent

•  • [ e] Mayors of the City of New York (since the 1898 Consolidation)
Van Wyck • Low • McClellan • Gaynor • Kline • Mitchel • Hylan • Walker • McKee • O'Brien • LaGuardia • O'Dwyer • Impellitteri • Wagner • Lindsay • Beame • Koch • Dinkins • Giuliani • Bloomberg

•  • [ e] Government of New York City
Mayor City Council Judiciary Brooklyn Public Library City University of New York Economic Development Corporation Department of Education Fire Department (FDNY) Housing Landmarks Lower Manhattan Development Corporation New York Public Library Office of Emergency Management Department of Parks and Recreation Police Department (NYPD) Queens Borough Public Library Department of Sanitation
The five boroughs: The Bronx Brooklyn Manhattan Queens Staten Island

•  • [ e] United States presidential election, 2008

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