Magazine

Table: A Conflicted Mayor Mike?


New York's Conflicts of Interest Board will soon rule on the Mayor-elect's complex business relationships

-- Bloomberg owns 72% of his company, whose biggest customers are Wall Street firms that vie to be New York City's bond underwriters, chosen jointly by the Mayor and the City Comptroller.

-- Merrill Lynch, Bloomberg LP's only outside investor, holds a 20% stake. It also makes millions in bond underwriting for the city and won $27.6 million in city tax abatements in 1997.

-- Bloomberg's board of directors includes executives with strong ties to Wall Street, including board Chairman Peter T. Grauer, a managing director at Credit Suisse First Boston, and former SEC head Arthur Levitt.

-- Bloomberg leases seven terminals to the city, accounting for about $108,000 a year in business.

Data: BusinessWeek


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