I just found out that bloomberg is going from charging 24K per year per terminal to 75K per year per terminal...WTF???
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Not sure how smart that is. A couple decent alternatives out there.
Not sure why we have 3 bloomberg terminals, capIQ is more than enough for us...
how else is he going to buy himself a fourteenth mayoral term?
i doubt this is true. where did you hear this?
We're contemplating switching over to Reuters, and when I asked why, this is what my boss told me.
Reuters is fugazi
ATTENTION: please dont tap the glass to the fish tank.
Cuz one of those tanks that you're tapping costs 50k/year to maintain.
We have Reuters and BB and my boss was LIVID about the whole Bloomberg thing today. Hired some consultant to see if there was anything we would lose by going exclusively to Reuters...
Did your boss confirm the numbers I was given by my boss?
All I know is that he was on the phone at one point and said something like 'If they think were going to pay that, they can fuck themselves."
hahaha sounds about right. Probably what I'd say if someone asked me for triple what I'm used to paying...
I hate Reuters tho... also all the brokers I deal with are in BB so just switching wouldnt really work.
If you think about it, they only have to keep one-third of their customers to make this worthwhile. Even though this is a pretty ridiculous move, it's definitely possible they come out making more.
Sucks though, now only the top places will have BB access.
This. Pretty soon only BB's will have BB's and all of the smaller firms will either consolidate or fail. Eventually only Goldman Sachs will be left, and they will effectively control the entire world.
Someone needs to hack the system and sell the services on the cheap. Normally I'd never advocate law breaking, but Mayor Bloomberg represents everything that's wrong with this country. At least Gordon Gekko stayed the fuck out of politics.
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I think they may be underestimating the power of network effects. At a twenty percent decline in user base they still come out money ahead, but their main competitor has now got market share and all their clients how much better their service is compared to bloomberg. Facebook vs. Myspace, VHS vs Betamax.
I love BB and think they are rolling out some nice improvements, but this price increase is nuts. I agree with Monkey, once you lose a substantial customer base they will give momentum to the competition. Guess you get greedy when you aren't the mayor anymore.
What about the Universities that have Bloomberg terminals? McGill for example just put 8-10 in the library a few yrs ago...
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Yep, Rice has 8-10 of them in the Jones School... that's an extra ~$450,000 a year in BB fees... I wonder if we will keep them. Rice is definitely a greedy-ass school. Someone correct me if I'm wrong, but I think Rice is the richest school in the country in terms of endowment per capita.
thats not right... A few ivy's and stanford make rice look pretty po', in fact:
Rice reports an endowment of $946,785 per student.
Harvard management co reports 27.8bn under management.
27,800,000,000/(6655 undergrads + 3738 post grads) = $2,649,385/nerd
lol
I think Princeton has the most money per student by far.
DID I MENTION BLOOMBERG WON'T REIMBURSE YOU FOR TRAVEL AFTER THEY SAY THEY WILL? I hope someone eats their lunch
business schools do have them... I'm guessing they get an educational discount though? perhaps?
Can anyone actually confirm this increase?
I can't confirm the actual numbers but it's legit
Endowment per student is a pretty useless way to determine anything. Consider 'Grinnell college' who had the 5th largest endowment per student of all US universities followed by Pomona college at 6. Although that was 2007, you can see that the endowment per student isn't really indicative of much. (Although, according to that data, Stanford had 2 mil per asian math major...I mean student.)
Edit: Rockefeller University has an endowment of 6.7 MIL PER STUDENT. Which is insane.
http://chronicle.com/article/Largest-Endowments-per/123960/
I haven't confirmed this increase but if your firm has a few BBs looks like you will get screwed. The more BB terminals your firm has the lower the price per terminal gets.
I cant imagine a trading floor without BB, a switch would have to be widely coordinated by trader,sales,brokers and clients
universities get an edu discount, also they have an edu deal where if u pay for 3 or more terminals you get 3 free terminals with it (aka if they paid for 3, they'd end up with 12)
edit: at least that was the deal last year
I take it you weren't a math major?
beat me to it...
Out of sheer curiosity, I asked our BB rep if they were planning to rise the cost of a BB terminal. The answer was: no.
Are you a student? That might apply to educational programs and the like but I know for a fact that we have been on the phone with BB for the last day or so trying to figure out if and how we will continue using their services
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