Opinion

Jack Shafer

How Bloomberg can still run Washington

Jack Shafer
Jul 19, 2012 00:14 UTC

At the age of 70, Michael R. Bloomberg nears an actuarial end that not even his $22 billion net worth can reverse. By giving him a measly 13 years of life expectancy, the law of averages has made the New York mayor acutely aware of time. In 2006, he installed a countdown clock in his mayoral headquarters that marked time until the end of his second term. As his third term commenced in 2009, Bloomberg escalated his war on time, putting a stopwatch to meetings. Was he racing the clock, or, as the co-inventor of the Bloomberg Terminal, did he think that a firmer grasp on life’s raw data would prolong his life?

Before he’s ushered to his reward, Bloomberg – whose current term as mayor ends at the close of 2013 – yearns to do something as grand as revolutionizing Wall Street, making billions, and running New York City government. Ordinary billionaires find this sort of psychic remuneration in philanthropy, but Bloomberg, a generous donor, is no ordinary billionaire. Philanthropy gives him a kick, but not the kick he craves. Back in 2006, Bloomberg’s special something looked to be a presidential campaign. He took foreign policy lessons from a centrist, priced the cost of the race at an affordable $500 million, and played the big-town flirt as he explained to one news organization after another how he didn’t really want to run for president – while reminding them what a splendid president he would make.

He didn’t run because he came to understand that he couldn’t win as a Democrat, a Republican or an independent. It’s for the best that he didn’t become president: His idea of governance is giving orders, as if he’s the people’s CEO. It’s also for the best that when the Obama administration shopped him to fill the vacancy at the World Bank, as its president, he declined the position because he didn’t want a boss, as New York’s Gabriel Sherman reported.

So until the CEO of the Earth slot opens, Mr. Mayor, I’ve got a terrific idea for the last act: Convince the Washington Post Co’s CEO, Donald E. Graham, that he should spin off his Washington Post division and sell it to you.

I say that as neither a Bloomberg lover nor a Bloomberg hater. I’ve written approvingly of Bloomberg’s business success, admiringly of his Bloomberg Businessweek, disparagingly of his Bloomberg View, speculatively of his Bloomberg Government, and acidly of his mayoral reign. But for reasons financial, historical – and psychological – the sale of the Post to the tiny billionaire would produce the best outcome for Post readers, the Graham family (which controls the Post), and Bloomberg’s ego (in that order).

Are you reading the best magazine in America?

Jack Shafer
Dec 14, 2011 23:06 UTC

My original commitment to Bloomberg BusinessWeek was so small it was almost negative.

About this time last year, US Airways, Delta, or some other crappy airline notified me that my soon-to-expire frequent flyer miles could be exchanged for magazine subscriptions, which is how I ended up spending something like 600 miles to add a year’s subscription to Bloomberg BusinessWeek to my Towering Reading Pile.

My Towering Reading Pile is governed by neo-Darwinian, survival-of-the-smartest-copy laws. With all the good stuff to read directly on the Web, stored on my RSS reader, and stockpiled by my Instapaper account, a mere book, magazine, or newspaper must be exceptional. Some publications (the New York Times) I read thoroughly because everybody I work with (and many of the people I write for) reads it. Other publications I first fillet for their prime morsels, like National Review for Mark Steyn’s ongoing chronicle of a planet gone retrograde and Vanity Fair for James Wolcott’s recombinant experiments with the American language. On Sundays, I make the weekend editions of the Times, the Washington Post, the Wall Street Journal, and the Financial Times play gladiator by tossing them into a 55-gallon drum and letting them fight it out. Upon returning a half-hour later, I collect the articles that were strong enough to defend themselves and consume them.

  •