Bloomberg Wants Third Term

Political foes gone, power elite diminished, moneyed mayor calls all the shots

(NEWSER) - Say what you will about Michael Bloomberg—the perfect mayor for New York in a financial crisis or arrogant billionaire who's pretty much bought an unprecedented third term—above all, Chris Smith writes, he is “a one-man Establishment.” A perfect storm of his personal fortune, the vagaries of international finance, and the shifting demographics of the city’s political classes makes Bloomberg the “only powerful figure in New York who really matters.” And that will likely be true for four more years. More»

(NEWSER) - New York’s City Council voted today to allow a third term for elected officials, paving the way for another Michael Bloomberg administration, the New York Daily News reports. Last-minute wrangling in the chamber, including a failed vote to establish a referendum on the issue, led to the 29-22 victory. “The City Council decided to give the people of New York a fuller choice in the November 2009 election,” Bloomberg said. More»

Bloomberg essential with Wall Street in crisis: Lauder

(NEWSER) - Term limits have been great for New York City, but it’s time to make an exception, billionaire philanthropist Ronald Lauder writes in the Times. Lauder believes Michael Bloomberg is the man to steer New York through the current economic disaster, preventing a repeat of the 1970s crisis that ruined life “not just on Wall Street, but on every street in every borough.” More»

Mayor rolls out plans to hike taxes, cut services and ax 20,000 city jobs

(NEWSER) - All American cities are facing budget shortfalls because of the recession, but Wall Street's meltdown has decimated New York City's tax base, Michael Bloomberg said yesterday in announcing plans to slash 20,000 city jobs, cut services and raise taxes. The aim is to reduce an expected $4 billion deficit, reports the New York Post. More»

New York City Council will consider measure to extend term limits

(NEWSER) - A controversial bill to ditch the two-term limit for New York City mayor Michael Bloomberg and dozens of other city officials will be introduced next week, reports the New York Times. City Council members believe Bloomberg has enough support to pass the measure, though supporters and critics alike are nonplussed by the lack of details being provided. The council vote could come later this month. More»