Capital New York

Michael Bloomberg this morning warned the politicians vying to replace him in 2014 that one of their key responsibilities as mayor will be to "earn the respect of the business community."

Bloomberg, a billionaire media mogul and former Wall Street executive, has been a staunch defender of the city's business class, even paying a solidarity visit to Goldman Sachs after one of its outgoing executives penned a scathing denunciation of the firm in the New York Times. The mayor has also, among other things, sought to overturn the Council's new living wage and prevailing wage bills.

But the mayor has also used squeezed his business colleagues to help fund city programs. Most recently, Goldman Sachs said it would invest nearly $10 million in a program designed to reduce recidivism among young men.

"The mayor's job is to go out and raise money for public-private partnerships," said Bloomberg.

"Nobody should expect most mayors, governors, or presidents to give an enormous amount of their own money," he continued. "I happen to think they should give a decent percentage of their own money, but, well, that's up to them. But if you're very wealthy, you can do some things. I've been able to do some things."

"The next one's not gonna be able to do that," he continued. "Having said that, the next one has to earn the respect of the business commnity because that's where the funding's gonna come from. And you have to be out there making sure that you understand that businesses can go eleswheres and don't have to be here, come here or stay here, for that matter."

His would-be successors seem to have heard that message loud and clear.

Dana Rubinstein

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