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Posts Tagged ‘Dan Doctoroff’

Morning Media Newsfeed: Bloomberg Back to Lead Company | Obama Vows Justice for Sotloff

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Michael Bloomberg to Return to Lead Company He Founded (NYT)
Michael R. Bloomberg has decided to reassume the leadership of his business empire only eight months after ending his final term as mayor of New York. Late Wednesday, Bloomberg told close confidants and senior executives of Bloomberg LP, a financial data and media company, that Daniel L. Doctoroff, its chief executive and a longtime friend and lieutenant, would leave the company at the end of the year and that he would take over. FishbowlNY It seems like only yesterday that Bloomberg was chiding us for drinking large sodas and eating too much salt. In fact, that was about nine months ago. During the time since he vacated the mayor’s office, Bloomberg has become bored. And so he’s returning to a little company called Bloomberg LP, as its CEO. WSJ In a statement, Bloomberg said he hadn’t intended to return to Bloomberg LP after his mayoral stint was completed. “However, the more time I spent reacquainting myself with the company, the more exciting and interesting I found it — in large part, due to Dan’s efforts. I have gotten very involved in the company again and that led to Dan coming to me recently to say he thought it would be best for him to turn the leadership of the company back to me.” NPR / The Two-Way Both Bloomberg and Doctoroff, a former deputy mayor under Bloomberg before being tasked with running the company, told the Times that there was no animosity between them regarding the shift. Forbes Bloomberg only had praise for his former deputy, who took revenues from $5.4 billion in 2007, just before he became president, to more than $9 billion this year.

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Michael Bloomberg is Returning to Bloomberg LP

It seems like only yesterday that Michael Bloomberg was chiding us for drinking large sodas and eating too much salt. In fact, that was about nine months ago. During the time since he vacated the mayor’s office, Bloomberg has become bored. And so he’s returning to a little company called Bloomberg LP, as its CEO.

According to The New York Times, Bloomberg is taking over the company from Dan Doctoroff, who prefers to resign rather than continue with the way things have been. Doctoroff told the Times that when a man returns to a company he founded and still carries his name, that’s pretty much a wrap:

Mike is kind of like God at the company. He created the universe. He issued the Ten Commandments and then he disappeared. And then he came back. You have to understand that when God comes back, things are going to be different. When God reappeared, people defer.

How much do you think Bloomberg is going to like hearing himself described as a god? On a scale of “Oh he’s going to love it” to “He might die from happiness.”

[Image: Lev Radin/Shutterstock.com]

Deirdre Bigley Named Bloomberg LP Global Chief Marketing Officer

bloomberg media logoDeirdre Bigley has been named Bloomberg LP’s global chief marketing officer. Bigley has been with Bloomberg since 2009, when she joined as head of global marketing communications. Prior to joining Bloomberg, she worked for IBM for 13 years.

Bigley is succeeding Maureen McGuire, who will continue working part-time at Bloomberg. ““Maureen and I created Bloomberg’s corporate marketing business from the ground up, and I’m thrilled to build on that success,” said Bigley, in a statement.

Bigley will report to Bloomberg’s CEO and president, Dan Doctoroff.

Bloomberg News Review Prompts Standards Editor and Ombudsman Hire

After it was revealed that Bloomberg News staffers had used their terminals to spy on Goldman Sachs workersMatthew Winkler, editor-in-chief of Bloomberg News, said the “error was inexcusable” and promised swift changes. That process has now started.

In a review of Bloomberg News’ operations, Clark Hoyt — the former New York Times public editor — suggested the company hire a standards editor and an ombudsman. Bloomberg News is complying with Hoyt’s recommendations. In a letter, Bloomberg’s president, Dan Doctoroffexplained:

We will appoint an Independent Senior Editor to serve as an independent avenue of appeal for issues and complaints around news coverage. This new position will assist in the ongoing development of best ethics practices and training on them. This individual will report to Bloomberg’s Chief Content Officer within the Office of the Chief Executive rather than the news organization.

We will establish a newsroom Standards Editor with the responsibility for making sure that News consistently adheres to The Bloomberg Way’s high standards for accuracy, rigor in reporting, balance and tone.

Rough Times at Bloomberg LP

Sales of Bloomberg LP’s terminals have hit a slump. According to The New York Post, the company has only sold 1,000 of them so far this year. A big chunk of Bloomberg employee bonuses depends on how well the company does overall, so the news that things have been slightly slow lately is bound to upset some staffers.

Bloomberg CEO and president Dan Doctoroff told the Post that the “Cert” — the portion of bonuses derived from company performance — would only “pay out at 20 percent of target this year.” And while yes, that’s sad news, that’s the point of the Cert. “We also do believe very strongly that we benefit when we beat expectations, and we all take something of a hit when we don’t,” explained Doctoroff.

Bloomberg is still raking in a lot of cash — revenue is expected to be around the $7 billion range — so things could be a lot worse.

Bloomberg LP’s $7.6 Billion Doesn’t Include Staffer Bonuses

Bloomberg LP raked in $7.6 billion in revenue last year. According to the New York Post, that was a 10.5 percent jump, up $720 million from 2010. While that’s not Bill Gates money — hell, it’s not even Twix money — it’s certainly a lot. But according to an internal memo at the company it’s nowhere near estimates, so staffers are getting smaller bonuses.

Apparently employee pay perks are tied to Bloomberg Terminal sales, and they fell short. The company had hoped to install 15,000 ancillary units last year, but were only able to add 13,672.

“Although we fell short of our targets, all of us can be proud of our strong year-over-year performance and the progress we were able to make across our businesses — especially considering the difficult environment for our largest terminal customers,” read the memo from Chairman Peter Grauer and CEO Dan Doctoroff.

Yeah, that should make them all feel better.

Vanity Fair Releases its Annual New Establishment List

Vanity Fair has an updated New Establishment list debuting in today’s October issue, so we thought we’d share some of it with you. Once again, Mark Zuckerberg grabs the top spot in a gathering of 50 “buccaneering visionaries, engineering prodigies, and entrepreneurs.”

The New Establishment showcases the best and brightest innovators in the world, or as Graydon Carter describes it, “The Age of Information gives way to a burgeoning Age of Technology.” So no, the guy who invented the Ninja Blender isn’t on it, but there are plenty of others who deserve the recognition.

Here are a few locals who made the cut:

And here’s a bonus for you. After the jump you can check out the top five from Vanity Fair’s newest list, The Powers That Be. This list focuses on the people that shape our world. Again, the Ninja Blender guy failed to make it. Sorry.

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Bloomberg LP Acquires BNA for $990 Million

Bloomberg LP just announced that it will be acquiring the Bureau of National Affairs (BNA), a news service publisher that covers labor law, employee benefits, litigation items, tax information, and much more, for $990 million. As part of the deal, BNA would become a stand alone subsidiary of Bloomberg.

The acquisition means good things for Bloomberg’s audience. “BNA’s employees have built a superior franchise and we are enthusiastic about a Bloomberg-BNA combination that will deliver more premium content to our professional audiences,” explained Dan Doctoroff, CEO and President of Bloomberg. “BNA research and analysis will make Bloomberg’s products even more valuable, and BNA would benefit from our data and technology expertise.”

The transaction is expected to close this year.

Bloomberg LP Taps Richard Powell To Head Up Communications

Bloomberg L.P. is seeking to expand their communications strategy across the globe and have decided that Richard Powell is the man to lead the way.  The company announced today that Powell has come aboard as chief communications officer and will handle domestic and international affairs in both new and existing markets.  Powell will work under Bloomberg L.P.’s head of government relations and public affairs Kevin Sheekey.

Bloomberg L.P. president Dan Doctoroff believes Powell’s background equips him well for his new position:

We look forward to Rick joining at a time when Bloomberg is being more ambitious than ever.  In just the past two years, we have started eight new businesses which allow us to reach new audiences like never before. Rick’s track record of managing complex and global issues will give a big boost to our ability to reach those audiences.

Powell most recently served as COO of Burson-Marsteller since 2007 and was managing director of Washington area public affairs firm Quinn, Gillespie & Associates since 2001.

Bloomberg LP Expects $7 Billion In Revenue

According to Keith Kelly of The New York Post, Michael Bloomberg’s giant company, Bloomberg LP, is expecting to rake in revenue of almost $7 billion by the end of the year. This is a jump of 12.6 percent from last year, and in a company-wide memo, Bloomberg LP President Dan Doctoroff says he sees revenue ballooning to $10 billion a year by 2014.

Also in the memo, employees of Bloomberg LP are told that if the 2014 mark is reached, they’ll reap some of the rewards:

If Bloomberg attains this goal between July 2013 and June 2014, employees will receive more than 70 percent of the salary they earn between Jan. 1, 2009 and the date of attainment.

So it’s good news for them and Mayor Bloomberg, who despite already being the 10th richest person in the nation, could use the extra cash if he makes that rumored 2012 presidential run. Or if he simply wants to buy something, like a country.

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