[Congressional Record Volume 143, Number 66 (Monday, May 19, 1997)]
[Extensions of Remarks]
[Pages E952-E953]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                      TRIBUTE TO MICHAEL BLOOMBERG

                                 ______
                                 

                           HON. NITA M. LOWEY

                              of new york

                    in the house of representatives

                         Thursday, May 15, 1997

  Mrs. LOWEY. Mr. Speaker, I rise to honor Mr. Michael Bloomberg on the 
occasion of his receiving the prestigious Herbert Lehman Award, 
presented by the American Jewish Committee. As a member of the tribute 
committee, I am well aware of Michael's leadership in civic and 
community service, as well as success in New York's financial 
community.
  A 1964 graduate of Johns Hopkins University, and a 1966 graduate of 
Harvard Business School, Michael has achieved one success after 
another. Following graduation, Michael spent 6 years at Salomon 
Brothers where he

[[Page E953]]

headed equity trading, sales, and systems development. During his 
tenure at Salomon Brothers, Michael created the company's first 
computerized information system. As Michael has said, ``There might be 
better traders than me, and there might be people who know more about 
computers, but there's nobody who knows more about both.''
  At 39 years of age, Michael created the Bloomberg, would become the 
largest computerized information resource in the financial world. 
During the last 15 years, The Bloomberg Corp. has grown to include an 
internationally syndicated radio station, a direct broadcast television 
network, the Bloomberg monthly magazine, and of course, the Bloomberg 
on-line service. As Michael's company has grown, so have his revenues. 
Annual revenues rose from $100 million in 1989, to $2 billion in 1995.
  Perhaps more important than his successes are his philanthropic 
endeavors. Among numerous other distinctions, he is a trustee of the 
Jewish Museum, the N.Y. Police & Fire Widows' and Children's Benefit 
Fund, the New York Academy of Medicine, and the Lincoln Center for the 
Performing Arts. He is also chairman of the board of trustees of Johns 
Hopkins University.
  Michael Bloomberg has not only exerted tremendous influence on Wall 
Street; he has literally transformed the way the world does business. 
Traders now have instant access to a tremendous repository of 
information, not only real-time financial data, but also historical 
trends, corporate analysis, and new developments as well. Business 
transactions are now more efficient and more profitable because of 
Michael Bloomberg. For this, and many other reasons, Michael truly 
deserves the American Jewish Committee's Herbert H. Lehman Award.

                          ____________________