When New York Mayor Michael Bloomberg left the Republican Party this week and became an independent, he fueled speculation about a possible presidential bid. On Wednesday, he said, “I’ve said my intention is to be mayor for the next 925 days,” but he refused to rule out a run for president in 2008. Asked about a White House bid, he said, “The more people that run for office the better.” Here’s a look at the potential independent candidate:
Background
Bloomberg, 65, was born in Boston, grew up in Medford, Mass., and graduated from Johns Hopkins University. In college, he paid his tuition by taking loans and working as a parking lot attendant. He got an MBA from Harvard Business School and was hired by Salomon Brothers on Wall Street.
Fortune
He rose through the ranks at Salomon, eventually overseeing information systems. In 1981, Salomon was acquired and he was squeezed out. He used his $10 million payout to start Bloomberg LP, which now includes Bloomberg News, Bloomberg Radio and Bloomberg Television. Forbes magazine in 2006 ranked him as the 44th richest American, with an estimated worth exceeding $5 billion.
Party affiliation
In 2001, Bloomberg, a lifelong Democrat, switched to the Republican Party to avoid a crowded mayoral primary in the heavily Democratic city. He was elected two months after the Sept. 11 terrorist attacks.
Tenure as mayor
Bloomberg claimed a 20 percent reduction in crime in his first term. He pushed through a ban on smoking in restaurants and bars, and a ban on trans fats in restaurants. He took control of New York’s schools from the Board of Education, and claims that this move helped raise graduation rates nearly 20 percent. He was re-elected in 2005.
Where he stands
He is a fiscal conservative and a social liberal. He advocates gun control, abortion rights, gay rights and action to combat global warming. He has acknowledged smoking marijuana.
Personal file
Mayor Bloomberg and ex-wife Susan Brown have two daughters, Emma and Georgina. Longtime girlfriend Diana Taylor is a director at Wolfensohn & Co. LLC and former state superintendent of banks.
Eyeing the race
For nearly two years, Bloomberg’s aides have collected technical data on the requirements to put him on the ballot in 50 states either as a third-party or an independent candidate. Bloomberg has told associates that he was studying the 1992 presidential campaign of Ross Perot, the wealthy Texan who drew 19 percent of the vote as an independent, to figure out how much a race in 2008 would cost. The Hotline Web site reported in May that Bloomberg was prepared to spend $1 billion.
The spoiler tag
Independents have had little success running for president in recent times, and are often labeled “spoilers.” Advisers say Bloomberg does not want to help defeat a Democrat such as Hillary Clinton or Barack Obama.
Polling
A recent nationwide survey by the non-partisan Pew Research Center found that Bloomberg is relatively well-known, with 65 percent recognition — higher than one of the top-tier Republican candidates, Mitt Romney. But Bloomberg’s appeal appeared very modest in the poll. Only 9 percent of those who had heard of him said there’s a good chance they’d vote for him. Another 23 percent said there was some chance, but more than half of American voters said there was no chance.
What others think
“Bloomberg is H. Ross Perot on steroids. He could turn the political landscape of this election upside down, spend as much money as he wanted and proceed directly to the general election.”
— Ex-FEC Chairman Michael Toner
“I think he would make an excellent candidate. It’s all about fixing problems and creating a great vision for the future.”
— California Gov. Arnold Schwarzenegger
“I like Mike a lot. I have nothing bad to say about Mike, except … I am disappointed that he left the Republican Party.”
— Former New York Mayor Rudolph Giuliani
“I’m not surprised that anyone would want to leave the Republican Party.”
— Sen. Hillary Clinton
“He could take votes from all sides, and he’s got lots of moolah.”
— Former New York Mayor Ed Koch
