Mayor Can Keep Bloomberg Stake

FRONT PAGE NEWS

The New York City Conflicts of Interest Board ruled last Thursday that New York City mayor Michael Bloomberg may retain his ownership stake in Bloomberg LP provided that he continues to have no involvement in the company’s day-to-day management.

The board says the mayor can be involved in “major matters” that might significantly affect the value of his ownership interest, provided that any partners in such discussions do not have business dealings with the City. In such a case, the mayor is advi

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