Monday, June 19, 2006

Bloomberg for sale?

DealBook reports that NYC mayor Michael Bloomberg said he may sell his Bloomberg financial empire in the next year or so. Bloomberg terminals, the ubiquitous machines on trading desks around the world, are like fixed income products that generate revenue into perpetutity because nobody can compete with Bloomberg's breadth. Breakingviews suggests that Bloomberg might find the timing right to sell his empire because things may have hit a "peak" for the investment banks. An interesting correlation is made to Hank Paulson and his decision to step down from Goldman's top position to become the Treasury chief.

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