NYC-WTC_000230774

NYC 9/11 Public Portal Document

WASHINGTON POST, SATURDAY, NOVEMBER 3, 2001

In N.Y., Bloomberg’s Reversal of Fortune Spending Big, He Narrows Margin in Race By Michael Povell longtime political consultant, “It’s a IFas/iingron Post Staff Priter shotgun approach; Some of his com­ mercials are great and some are pretty NEW YORK. Nov. 2—The billion­ lousy, but there’s so much of it." aire who would be mayor, the man Billionaires seeking to acquire politi­ whose name—given and surname—are cal office are an increasingly common plastered on more posters, stock tick­ feature of the political landscape. For­ ers, coffee mugs, radio stations and mer Goldman Sachs chairman Jon Cor­ television commercials than Coca-Cola, zine spent about $65 million running as has just been asked why he won’t re­ a Democrat and winning a U.S. Senate lease his tax returns. seat in New Jersey last year. But Cor­ It has been custom and practice for zine ran during a bull economy. mayoral candidates in New York to re­ Bloomberg is running for mayor as lease their tax returns for two decades. the city bleeds jobs—12,000 in the last Michael Bloomberg winces at the silli­ week alone—and faces a $4 billion ness of comparing his 10-figure income budget deficit next year. Some question with that of the other candidates for whether his style, which is long on tass- mayor this year who make less than half led loafers and French cuffs, and a resu­ a million dollars. me that includes no political experience "They don't make anything,” Bloom­ match the city's needs. berg says. “They get paid exactly what “It's very hard to teach people to be­ they—” come a politician," Adler said. “And the He stops himself. World Trade Center disaster and the fi­ “Forget about it,” he advises. “Next nancial problems are going to place a question?” huge demand on the new mayor.” Such is the political education of Bloomberg counters that he is splen­ Bloomberg, the sometimes initable bil­ didly equipped. Born and raised in Bos­ lionaire media mogul with a London ton in a family of modest means, he town house and a Bermuda beach re­ graduated from Harvard, came to New treat who seems intent on becoming a York City and went to work at Salomon city pol. And he’s learned the game bet­ Brothers, Later he would form Bloom­ ter than many observers expected. berg L,P,, a business-media company A poll today shows that he has pulled with almost 8,000 employees that has within 4 percentage points of Demo- enjoyed phenomenal grow^. cratic candidate Mark Green, with four He accomplished all of this in a fero- days to go until Election Day. ciously competitive business environ- Bloomberg has leveraged two great ment. He is, he contends, well qualified advantages: his' endorsement by Mayor to understand the bruised psyche of Rudolph W. Giuliani and his willing- business, and figure out how to recon- ness to spend a personal fortune esti- figure the city’s downtown. mated at $4 billion. He vras a lifelong Bloombergs self-confidence is not Democrat who.switched to the Repub- unlike that of Green, his Democratic ri- lican Party just before running for may- val. Both candidates exude the air of or. men who recognize true intelligence in Bloomberg has showered $42 million the mirror each morning. of his own money on his campaign, on 'They are white politicians seeking to television and radio commercials that lead a city that is now majority-minor- seem to run at al! hours and on every ity. They also have taken in their liberal station. He decided not to participate hems in advance of this election. in the city’s campaign finance system. Green, a lifelong liberal Democrat which gives candidates matching funds who spent much of the past eight years if they agree to abide by spending lim- snapping at Giuliani’s flank, has run as its. Bloomberg has described the cam­ a centrist Democrat. Bloomberg, a con­ paign finance law as an annoyance, the tributor to the campaigns of Green, Bill means by which the political class per­ Clinton and Hillary Rodham Clinton, petuates itself. has run as a centrist Republican. “His campaign reflects the power of Bloomberg’s campai^ features an lots of money," said Norman Adler, a air and ground war. If his commercials

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NYC-WTC_000230774