Screen star says it all
Michael Bloomberg offered journalists his financial wisdom in a speech at the New York Financial Writers' Club dinner at the Marriot Marquis in Times Square last month.
The information and media mogul who is running for mayor of New York in this November's election feels that the economic slowdown still hasn't fully hit everyone just yet. "It's surprised me that the effect of the slowdown hasn't been worse," he said. "I think it's a question of Wall Street looking at last time there was a crisis back in 1998, when they sacked too many people too quickly. This time, I think they haven't sacked enough."
If more do go it will hit the business Bloomberg started nearly 20 years ago, and from which he has recently stepped back to concentrate on his political career. "Net sales of our screens are down 30% this year," he said.