Subject: Bloomberg . . .
From: "Neil Callahan" <[email-masked]>
To: "'Hunter Biden'" <[email-masked]>, "'Eric Schwerin'" <[email-masked]>, "'Devon Archer'" <[email-masked]>
Date: Fri, 23 Apr 2010 18:36:42 -0400

Not a bad potential path to follow - story of Bloomberg and how it was
founded below and another story putting the value of Bloomberg at about
$25B.

http://en.wikipedia.org/wiki/Bloomberg_L.P.

 

History, services & products

In 1981, Michael <http://en.wikipedia.org/wiki/Michael_Bloomberg>  Bloomberg
was fired from Salomon <http://en.wikipedia.org/wiki/Salomon_Brothers>
Brothers, where he was a general partner and given a $10 million severance
package.[7] <http://en.wikipedia.org/wiki/Bloomberg_L.P.#cite_note-6>  Using
this money, Bloomberg went on to set up a company named Innovative Market
Systems. In 1982, Merrill Lynch <http://en.wikipedia.org/wiki/Merrill_Lynch>
became the new company's first customer, installing 20 Market Master
<http://en.wikipedia.org/w/index.php?title=Market_Master&action=edit&redlink
=1>  terminals and investing $30 million in the company.[8]
<http://en.wikipedia.org/wiki/Bloomberg_L.P.#cite_note-7> [9]
<http://en.wikipedia.org/wiki/Bloomberg_L.P.#cite_note-8>  [10]
<http://en.wikipedia.org/wiki/Bloomberg_L.P.#cite_note-9>  In 1986, the
company was renamed Bloomberg L.P. and by 1988, 5000 terminals had been
installed.[11] <http://en.wikipedia.org/wiki/Bloomberg_L.P.#cite_note-10>
Within a few years, ancillary products including Bloomberg Tradebook (a
trading platform), the Bloomberg Messaging Service, and the Bloomberg
newswire were launched.

In addition to its financial services offerings, Bloomberg launched its news
services division in 1990. Bloomberg
<http://en.wikipedia.org/wiki/Bloomberg_News>  News (originally known as
Bloomberg Business News) has some 2,000 staff in 125 bureaus around the
world and is available on the web at www.bloomberg.com. It now provides
information to approximately 350 newspapers and magazines worldwide,
including The Economist <http://en.wikipedia.org/wiki/The_Economist> , The
New York Times <http://en.wikipedia.org/wiki/The_New_York_Times>  and USA
Today <http://en.wikipedia.org/wiki/USA_Today> .[citation needed
<http://en.wikipedia.org/wiki/Wikipedia:Citation_needed> ]

In order to run for the position of Mayor of New York against Democrat Mark
<http://en.wikipedia.org/wiki/Mark_J._Green>  Green in 2001, Mike Bloomberg
<http://en.wikipedia.org/wiki/Mike_Bloomberg>  gave up his position of CEO
at Bloomberg and appointed Lex Fenwick as CEO in his stead.[citation needed
<http://en.wikipedia.org/wiki/Wikipedia:Citation_needed> ] Daniel
<http://en.wikipedia.org/wiki/Daniel_Doctoroff>  Doctoroff, former deputy
mayor in the Bloomberg administration, now serves as president. Peter Grauer
is the chairman.

Bloomberg filed Bloomberg
<http://news.justia.com/cases/featured/new-york/nysdce/1:2008cv09595/335178/
>  L.P. v. Board of Governors of the Federal Reserve System Case Number:
1:2008cv09595 in the New York Southern District Court November 7, 2008. The
suit asks Judge Loretta A. Preska
<http://en.wikipedia.org/wiki/Loretta_A._Preska>  to require the Federal
Reserve to provide information under the Freedom of Information Act
<http://en.wikipedia.org/wiki/Freedom_of_Information_Act_%28United_States%29
>  to divulge the names of private financial institutions that were
recipients of 1.2 trillion in public bailout money, along with kind and
amounts of collateral provided.

In October 2009, Bloomberg LP acquired Businessweek
<http://en.wikipedia.org/wiki/Businessweek>  Magazine from McGraw Hill
<http://en.wikipedia.org/wiki/McGraw_Hill>  [12]
<http://en.wikipedia.org/wiki/Bloomberg_L.P.#cite_note-11> 

In December 2009, Bloomberg acquired London based New Energy Finance
<http://en.wikipedia.org/wiki/New_Energy_Finance> , a global clean energy
and carbon markets research provider.

 

http://www.huffingtonpost.com/2008/07/16/bloomberg-lp-worth-25b-ma_n_113169.
html

Merrill Lynch (MER) has reached a deal to sell its 20% stake in Bloomberg LP
for $4.5 to $5 billion, the WSJ reports. The buyer: Bloomberg LP, which had
right of first refusal. But the headline here is the eyepopping valuation
the deal puts on Bloomberg LP: about $25 billion.

This also means New York Mayor Michael Bloomberg, who founded and still owns
68% of the company, is worth around $17 billion. Forbes had most recently
guesstimated his honor's net worth at $11.5 billion.

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Neil Callahan

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