Michael Bloomberg Says He Would Only Accept $1 Salary From New York City if He Becomes Mayor

Billionaire Media Baron Says He's Confident About Winning the Race;

'I Don't Have Much Experience With Losing'



Apr 22, 2001, 01:00 ET from Newsweek

    NEW YORK, April 22 /PRNewswire Interactive News Release/ -- Billionaire
 media and finance baron Michael Bloomberg, who has yet to officially announce
 his candidacy for New York City mayor, tells Newsweek that if he should get
 the job, he won't take a salary.  "I've thought about this, and if I were
 mayor, I wouldn't take more than $1 a year from the city," Bloomberg tells
 National Correspondent Matt Bai in the April 30 issue (on newsstands Monday,
 April 23).  Bloomberg won't accept any campaign contributions either or spend
 a penny in public matching funds, and would instead use his own money -- as
 much as $20 million by some estimates.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010422/NEWSWEEK )
     But Bloomberg's critics and some contenders for the job complain that he
 is not qualified to take the city's top post.  Mark Green, the Democratic
 frontrunner, insists Bloomberg doesn't have a chance.  "Him wanting to be
 mayor is like me going this afternoon to knock on the door of Bloomberg Inc.
 and saying, 'Hi, I'm Mark Green, I've never run a company for a day in my
 life, but I'd like to take over in four months.  Where do I apply?'"  The
 mayoralty, Green says, "is not an entry-level job."  But Bloomberg brushes off
 questions about his qualifications.  "I don't know that any of them [his
 competitors] have ever run anything."  Bloomberg earned his fame by starting
 his own company, Bloomberg Financial Markets, in 1981.  It has since
 mushroomed into a news service, which provides market information on leased
 machines known as "Bloombergs," a magazine, radio and television broadcasts.
     Bloomberg says being mayor of New York is one of the four best jobs in the
 world, the others being: president of the United States, secretary general of
 the United Nations, and president of the World Bank.  He says current mayor
 Rudolph Giuliani has the best job.  "You make a decision in the morning, it's
 on the streets by this afternoon, and you see the results tomorrow."
     Even though Bloomberg has not officially jumped in the race, the attacks
 against him -- from Democrats and the city's newspapers -- have already begun.
 They accuse him of refusing to release detailed tax returns, which he says
 would only prove he has no tax shelters.  There is also a sexual harassment
 issue that won't go way.  Bloomberg has been sued three times; two cases went
 away, but a third was settled, although he denied any wrongdoing.  He recently
 asserted that a lie detector test had cleared him of the lingering charges,
 but Democrats will cite it as part of his "record."  "I just cannot believe
 that could be a serious issue," Bloomberg says.  "If it is, shame on them."
     Either way, Bloomberg is confident about his chances.  "The polls tell me
 it's an uphill battle, but I can win," he says.  "I don't have much experience
 with losing."
 
                         (Read Newsweek's news releases
             at http://www.Newsweek.MSNBC.com. Click "Pressroom.")
 
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SOURCE Newsweek
    NEW YORK, April 22 /PRNewswire Interactive News Release/ -- Billionaire
 media and finance baron Michael Bloomberg, who has yet to officially announce
 his candidacy for New York City mayor, tells Newsweek that if he should get
 the job, he won't take a salary.  "I've thought about this, and if I were
 mayor, I wouldn't take more than $1 a year from the city," Bloomberg tells
 National Correspondent Matt Bai in the April 30 issue (on newsstands Monday,
 April 23).  Bloomberg won't accept any campaign contributions either or spend
 a penny in public matching funds, and would instead use his own money -- as
 much as $20 million by some estimates.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010422/NEWSWEEK )
     But Bloomberg's critics and some contenders for the job complain that he
 is not qualified to take the city's top post.  Mark Green, the Democratic
 frontrunner, insists Bloomberg doesn't have a chance.  "Him wanting to be
 mayor is like me going this afternoon to knock on the door of Bloomberg Inc.
 and saying, 'Hi, I'm Mark Green, I've never run a company for a day in my
 life, but I'd like to take over in four months.  Where do I apply?'"  The
 mayoralty, Green says, "is not an entry-level job."  But Bloomberg brushes off
 questions about his qualifications.  "I don't know that any of them [his
 competitors] have ever run anything."  Bloomberg earned his fame by starting
 his own company, Bloomberg Financial Markets, in 1981.  It has since
 mushroomed into a news service, which provides market information on leased
 machines known as "Bloombergs," a magazine, radio and television broadcasts.
     Bloomberg says being mayor of New York is one of the four best jobs in the
 world, the others being: president of the United States, secretary general of
 the United Nations, and president of the World Bank.  He says current mayor
 Rudolph Giuliani has the best job.  "You make a decision in the morning, it's
 on the streets by this afternoon, and you see the results tomorrow."
     Even though Bloomberg has not officially jumped in the race, the attacks
 against him -- from Democrats and the city's newspapers -- have already begun.
 They accuse him of refusing to release detailed tax returns, which he says
 would only prove he has no tax shelters.  There is also a sexual harassment
 issue that won't go way.  Bloomberg has been sued three times; two cases went
 away, but a third was settled, although he denied any wrongdoing.  He recently
 asserted that a lie detector test had cleared him of the lingering charges,
 but Democrats will cite it as part of his "record."  "I just cannot believe
 that could be a serious issue," Bloomberg says.  "If it is, shame on them."
     Either way, Bloomberg is confident about his chances.  "The polls tell me
 it's an uphill battle, but I can win," he says.  "I don't have much experience
 with losing."
 
                         (Read Newsweek's news releases
             at http://www.Newsweek.MSNBC.com. Click "Pressroom.")
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X97644706
 
 SOURCE  Newsweek