Bloomberg returns to headquarters for his day job
With his 12 years as mayor of New York behind him, Michael Bloomberg received a warm welcome-home this morning from the chief executive of Bloomberg L.P., the financial information and media company founded by the 71-year-old plutocrat in 1981.
In a company memo obtained by Capital, Bloomberg L.P. C.E.O. and former deputy mayor Dan Doctoroff told employees "we'll be seeing more of him at 731 Lexington and our offices around the world. When he's in New York, Mike will most likely spend a few hours a day working from his new desk on the fifth floor."
As first reported by Capital in November, Bloomberg made plans to return to the company, both physically and practically, as he was preparing to leave public office. Sources told us he would focus largely on the opinion offering Bloomberg View and that "chairman of Bloomberg View" was one of the titles being considered.
But the extent to which Bloomberg will be involved in day-to-day operations is still unclear. Asked for clarification, a spokesperson for Bloomberg declined to comment.
During his mayoralty, Bloomberg recused himself from most company business and did not draw a private sector paycheck. But he was allowed to weigh in on major strategic decisions for Bloomberg L.P. in his capacity as majority shareholder.
Having apparently skirted a rule that Bloomberg L.P. employees cannot return to the company after leaving it, Bloomberg is now working on the same floor that houses staffers for Bloomberg View, Bloomberg TV and Bloomberg Radio. (Doctoroff and other executives have desks on floor six, according to a source, while Bloomberg News is on four and Bloomberg Businessweek is on three.)
Of course it's not as if he'd ever really left.
"When I worked at City Hall, Mike Bloomberg was never more than a chair swivel away," Doctoroff wrote in his memo. "So when I came to the company, I was naturally worried about going through withdrawal.
"But I discovered on my very first day here -- as I'm sure we all have -- that Mike's DNA is deeply embedded in our culture," Doctoroff continued. "Even though he's been 'on hiatus' for the past twelve years, his world view and work ethic have been very much present. ... I know I speak for all of us when I say how excited we are to welcome him home."
Ed. note: This article was updated from an earlier version after a Bloomberg spokesperson responded to our request for comment.