Most Read
- SEC Short Sale Rule Could Create a Bubble in Financial Stocks
- Wall Street Outsourcing to New, Exotic Corners of the Globe
- Analytics Help Firms Turn Data Into Opportunity
- Cisco Global Exchange Study Ranks Latency Among Top Success Factors in Competitive Race
- DTCC, Markit to Create Single Point of Derivatives Confirmation
- BlackRock To Acquire Analytics Software Company
- NYC Financial Firms to Get New Disaster Recovery Data Center in Pennsylvania
- Deutsche, Merrill Reveal Recession-Proofing IT Strategies
Mayor Bloomberg Says His Company Is Not for Sale
Ivy Schmerken, Wall Street & Technology
New York City Mayor Michael Bloomberg has been approached by potential buyers of Bloomberg L.P., the multibillion-dollar financial information, market data, analytics and media company he created, but he has decided not to sell the company at this time, according to a release.
Bloomberg L.P. Chairman Peter Grauer read the founder’s message to company employees during his quarterly video address, the release stated.
“I’ve said many times that my next career will be in philanthropy. While I have recently been approached by potential buyers of Bloomberg L.P., I have decided not to sell the company at this time,” stated Bloomberg in his message.
Although the Mayor acknowledged that someday he or his estate will have to sell, Bloomberg said the best days of the company are still ahead, citing new products, “new markets, new services that are constantly being created by one of the most dynamic groups of people ever assembled.”
According to an article in the New York Times, private equity firms have expressed an interest in buying the company to Wall Street bankers, while other potential suitors include McGraw Hill and Thomson Financial.
Despite recent speculation over Mayor Bloomberg’s political ambitions, which include running for president in 2008, the statement reiterated Bloomberg’s plan to devote the next phase of his life to philanthropy by sharing his wealth with deserving causes through his foundation.
“Hopefully we can impact public health, the arts, education and other areas of society in the same way we’ve improved the dissemination of news to open financial markets for all,” Bloomberg stated, according to the release.
Posted by Ivy Schmerken at 11:23 AM
This is a public forum. CMP Media and its affiliates are not responsible for and do not control what is posted herein. CMP Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers.
Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Media's Terms of Service.
Important Note: This comment area is NOT intended for commercial messages or solicitations of business.
Greg MacSweeny Columns
Greg MacSweeneyIn a Matter of Months, CIOs’ Agendas Turned Upside Down
Early in the summer of 2007, Wall Street was counting its good fortune. In early summer 20...
Former CIO Gavazzi Launches Risk Alert Provider
Where Are They Now? Life After Wall Street
Where Are They Now? Mitchel Lenson, Former Deutsche Bank Group CIO
Larry Tabb Columns
Larry TabbClearing and Settlement Top-of-Mind for Front-Office Execs
In addition to the excitement in the U.S., the real focus is occurring in Europe, where th...
Risk Management IT Comes to the Forefront in the Wake of Subprime Credit Crisis
In a Tumultuous Economy, Wall Street Must -- and Will -- Find a New Model
CHECK THIS OUTNovell Real Time Linux Webcast SeriesIn order to succeed, companies must be able to respond quickly, deliver superior value and quality of service, and carefully manage their costs. In this series of brief webcasts, you will learn how SUSE Linux Enterprise Real Time from Novell enables organizations to respond quicker by delivering low latencies, deliver increased value with fast response times, and better manage costs. |
EventsLive Events:Accelerating Wall Street 2 October 02, 2008 Buy-Side Trading Summit 2008 November 16-18, 2008 |
White PapersLevel 3 Connectivity KitStay ahead of the bandwidth curve. The Level 3 Connectivity Kit provides full resources to help you make informed decisions regarding your network infrastructure. Download the Data Center Networking Strategies for Financial Services Firms White Paper; Business Class Ethernet: Trends in Perspective eBook and BC/DR Best Practices for the Data-Intensive Enterprise Gartner Webcast Surviving and Thriving in a Challenging Market Learn how financial services firms can use customer-centric strategies and tools to maximize client value and loyalty, gain insight into new opportunities, and do more with less, counteracting market volatility. |
Marketplace |
Career CenterReady to take that job and shove it?
|
Most Recent Job Posts:
* Lowe's seeking Manager of IT Research in Mooresville, NC
* Hebrew Senior Life seeking Senior Informatics Analyst in Roslindale, MA * UCLA seeking Programmer/Analyst IV in Los Angeles, CA * T-Mobile seeking Program Manager 3 in Snoqualmie, WA * Comcast seeking Tier 4 CRAN Network Engineer in Chelmsford, MA For more tech jobs in the industry, visit Wall Street & Technology's Career Portal. |









