Mayor Bloomberg For President?

When asked if he would run for President, His Honor, the Mayor of New York City, replied: “I don’t think America is ready for a short, divorced, and Jewish billionaire.” Yet, while some of Michael Bloomberg’s attributes and views may be controversial, others may be very attractive to voters who are not impressed by either party’s parade of presidential candidates.

Having watched New York City’s mayoral politics ever since my student days at Manhattan’s Columbia University in the 1950s, I find Mayor Bloomberg much more pragmatic and less conventional than most of his predecessors. After his inauguration in 2002, he broke with 190 years of tradition when he moved his office to a large open chamber, reminiscent of a trading floor, and surrounded himself with some fifty of his closest aides. Reports say that he takes the subway to work and has his private number listed in the telephone book--very much in keeping with his demand for more transparency and responsibility in government.

Ranking 34th on Forbes’ list of the 400 richest Americans, Bloomberg, now 65, could comfortably retire on his $5.5 billion net worth. In a remarkable entrepreneurial career since 1981, he made most of his fortune with his own start-up company, Bloomberg L.P., selling financial information terminals to Wall Street firms, thus using emerging technology to bring transparency and efficiency to the buyers and sellers of financial securities.

Today, Bloomberg LP has over 250,000 subscribers to its financial news and information services. Headquartered in New York City, the company has 9,500 employees in more than 130 cities worldwide. Bloomberg’s Wealth Manager is the leading information resource for financial planners.

Although a lifelong Democrat, in 2001 and again in 2005 Bloomberg found it advantageous to run successfully for mayor of New York on the Republican ticket. Six weeks ago, however, he dropped a political bombshell when he filed as an Independent following a speech in which he denounced the current political “morass in Washington.”

In his core positions, Bloomberg appears to be much closer to most Democrats than to Republicans. He favors women’s right to life, homosexual marriage, and gun control. In contrast to President Bush, Bloomberg gives environmental improvements the highest priority.

He called for no less than 123 projects to make New York City the “greenest city” in the United States within 23 years. By then, all New Yorkers would have to walk no more than ten minutes to reach the nearest park.

Following the example of London, England, Bloomberg wants to impose an $8 charge on all cars and trucks traveling New York City’s streets on workdays between 6 a.m. and 6 p.m. By 2012, all taxis are to use hybrid fuels, and by 2030, the city’s greenhouse gas emissions are to be reduced by at least 30 percent.

When Bloomberg succeeded Rudy Giuliani as mayor shortly after the terror attacks on the twin towers, the city was heavily burdened by a $6.4 billion debt, a bloated bureaucracy, and an ailing school system. Today the metropolis boasts a surplus of several billion dollars, its crime rate has dropped by 30 percent, and its schools’ test results show continuing improvement. The 8 million New Yorkers are giving Bloomberg a 70 percent approval rating.

If “Bloomie,” as his friends call him, decided to make a run for the White House, he could easily spend $500 million of his own money on the effort without a single fundraising event. Given America’s rigid two-party system, however, the odds weigh heavily against any third-party candidate. In 1992 Ross Perot spent $65 million to win no more than 19 percent of the nation’s popular vote. Yet, after the past six years of the Bush presidency, unexpected developments are hardly a rare occurrence anymore in American politics.

One of Bloomberg’s influential fans is multi-billionaire Warren Buffett, the world’s third-richest man. He suggested a unique dream ticket for the next presidential election: Mayor Bloomberg as president and Governor Schwarzenegger as vice president--if only the latter could constitutionally qualify for that position.

Wolf D. Fuhrig	Home	08-05-07
Mayor Bloomberg For President?
When asked if he would run for President, His Honor, the Mayor of New York City, replied: “I don’t think America is ready for a short, divorced, and Jewish billionaire.” Yet, while some of Michael Bloomberg’s attributes and views may be controversial, others may be very attractive to voters who are not impressed by either party’s parade of presidential candidates. Having watched New York City’s mayoral politics ever since my student days at Manhattan’s Columbia University in the 1950s, I find Mayor Bloomberg much more pragmatic and less conventional than most of his predecessors. After his inauguration in 2002, he broke with 190 years of tradition when he moved his office to a large open chamber, reminiscent of a trading floor, and surrounded himself with some fifty of his closest aides. Reports say that he takes the subway to work and has his private number listed in the telephone book--very much in keeping with his demand for more transparency and responsibility in government. Ranking 34th on Forbes’ list of the 400 richest Americans, Bloomberg, now 65, could comfortably retire on his $5.5 billion net worth. In a remarkable entrepreneurial career since 1981, he made most of his fortune with his own start-up company, Bloomberg L.P., selling financial information terminals to Wall Street firms, thus using emerging technology to bring transparency and efficiency to the buyers and sellers of financial securities. Today, Bloomberg LP has over 250,000 subscribers to its financial news and information services. Headquartered in New York City, the company has 9,500 employees in more than 130 cities worldwide. Bloomberg’s Wealth Manager is the leading information resource for financial planners. Although a lifelong Democrat, in 2001 and again in 2005 Bloomberg found it advantageous to run successfully for mayor of New York on the Republican ticket. Six weeks ago, however, he dropped a political bombshell when he filed as an Independent following a speech in which he denounced the current political “morass in Washington.” In his core positions, Bloomberg appears to be much closer to most Democrats than to Republicans. He favors women’s right to life, homosexual marriage, and gun control. In contrast to President Bush, Bloomberg gives environmental improvements the highest priority. He called for no less than 123 projects to make New York City the “greenest city” in the United States within 23 years. By then, all New Yorkers would have to walk no more than ten minutes to reach the nearest park. Following the example of London, England, Bloomberg wants to impose an $8 charge on all cars and trucks traveling New York City’s streets on workdays between 6 a.m. and 6 p.m. By 2012, all taxis are to use hybrid fuels, and by 2030, the city’s greenhouse gas emissions are to be reduced by at least 30 percent. When Bloomberg succeeded Rudy Giuliani as mayor shortly after the terror attacks on the twin towers, the city was heavily burdened by a $6.4 billion debt, a bloated bureaucracy, and an ailing school system. Today the metropolis boasts a surplus of several billion dollars, its crime rate has dropped by 30 percent, and its schools’ test results show continuing improvement. The 8 million New Yorkers are giving Bloomberg a 70 percent approval rating. If “Bloomie,” as his friends call him, decided to make a run for the White House, he could easily spend $500 million of his own money on the effort without a single fundraising event. Given America’s rigid two-party system, however, the odds weigh heavily against any third-party candidate. In 1992 Ross Perot spent $65 million to win no more than 19 percent of the nation’s popular vote. Yet, after the past six years of the Bush presidency, unexpected developments are hardly a rare occurrence anymore in American politics. One of Bloomberg’s influential fans is multi-billionaire Warren Buffett, the world’s third-richest man. He suggested a unique dream ticket for the next presidential election: Mayor Bloomberg as president and Governor Schwarzenegger as vice president--if only the latter could constitutionally qualify for that position.

Wolf D. Fuhrig

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08-05-07

Mayor Bloomberg For President?