Michael Bloomberg Is Starting A Consulting Firm That Won't Charge Clients A Dime

REUTERS/Supri

Michael Bloomberg had such a great time running NYC that when he leaves the Mayor's office he'll put his expertise to work by consulting cities all over the world.

Bloomberg Associates, his new consulting group partially made up of members of his current administration, will tackle problems from infrastructure development to crime, the NYT reports.

The organization won't be charging cities a dime, either. Its tens of millions of dollar budget will be funded by the success of Bloomberg's magic machine, the Bloomberg terminal.

From the NYT:

Mayor Mitchell J. Landrieu of New Orleans recalled receiving a $4 million grant from Mr. Bloomberg last year to hire a team of eight outside experts that advised the city on how to lower its murder rate. Since then, the city has created a multi agency team to combat gang activity, set up a midnight basketball league to keep young men off the streets and pushed to make it harder for those charged with gun crimes to get out of jail.

The murder rate in New Orleans has fallen by 17 percent this year.

So it looks like this could work well. For the rest of the story, head to NYT>