Former New York City Mayor Michael Bloomberg is expected to spend at least $80 million in the 2018 midterm elections supporting Democratic candidates as part of his larger goal of flipping 23 Republican-held seats in the House, to put Democrats back in power, the New York Times reported Wednesday. Sources close to Bloomberg tell CBS News that they expect his funding could be even higher than $80 million by the end of the midterm spending season. Bloomberg has been an outspoken voice for center-left politics, and his candidate funding, which the New York Times first reported, could serve Democrats well in the face of Republicans. There have been reports this past year that the DNC is deep in debt, while Politico reported Wednesday morning that the RNC is $47.1 million in the green. It is not unclear which races Bloomberg will choose to target. The spending serves as a Democratic response to a consistent flow of Republican money into races, from both individuals and superPACs. … [Read more...] about Bloomberg to provide $80 million to help Democrats win House majority
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page James Pindell Globe Staff June 20, 2018 With the news Wednesday afternoon that billionaire and former New York City mayor Michael Bloomberg plans to spend $80 million to help Democrats retake the US House majority this year, some in the political class are wondering whether the Medford native is making a move to run for president.Bloomberg told the New York Times that he plans to spend money to back Democrats from largely suburban districts because he believes the Republican-led Congress has done little to address issues important to him like gun control and climate change. On top of that, he told the paper, they’ve been “absolutely feckless” in serving as a check on President Trump.For context, large donations from wealthy pockets are not unusual, but Bloomberg’s $80 million personal investment far exceeds even the most headline-grabbing … [Read more...] about Is Bloomberg making a big step to run for president as a Democrat?
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Alexander Burns The New York Times June 20, 2018 Michael Bloomberg, the billionaire former mayor of New York City, has decided to throw his political clout and personal fortune behind the Democratic campaign to take control of the House of Representatives this year, directing aides to spend tens of millions of dollars in an effort to expel Republicans from power.Bloomberg — a political independent who has championed left-of-center policies on gun control, immigration and the environment — has approved a plan to pour at least $80 million into the 2018 election, with the bulk of that money going to support Democratic congressional candidates, advisers to Bloomberg said.By siding so emphatically with one party, Bloomberg has the potential to upend the financial dynamics of the midterm campaign, which have appeared to favor Republicans up to this point. … [Read more...] about Michael Bloomberg to spend at least $80 million to help Democrats win the House in November
By Dan Whitcomb LOS ANGELES (Reuters) – A former top editor at Bloomberg, Time magazine and the Wall Street Journal, who has steered some of the most influential U.S. publications over five decades, has been hired as executive editor of the Los Angeles Times, the paper’s new owner said on Monday. Norman Pearlstine, 75, will become the first person to lead the Times under the ownership of Dr. Patrick Soon-Shiong, a South African billionaire whose purchase of the paper closed earlier in the day. “Not only does he have amazing experience with the full knowledge of how a newsroom runs – but he’s amazingly modern and forward-looking,” Soon-Shiong said in a story on the Times website. “There’s no agenda, other than to make this the best journalistic institution. We’re lucky to be able to capture him,” Soon-Shiong, a surgeon and biotech entrepreneur, said in the Times article. Pearlstine, who retired from Bloomberg last July and … [Read more...] about Veteran journalist at Time, Bloomberg named Los Angeles Times editor
(Reuters) – Siemens AG <SIEGn.DE> is considering strategic options including a potential sale of its struggling business that makes large gas turbines for power plants, Bloomberg reported on Wednesday citing people familiar with the matter.The German engineering company is looking at all possibilities, such as a combination with a rival, the report added. Siemens has seen a drop in demand at its power and gas business, which makes gas and steam turbines. Seimens declined to comment on the report. (Reporting by Parikshit Mishra in Bengaluru; Editing by Bernard Orr) … [Read more...] about Siemens to mull sale of gas turbine business -Bloomberg