Michael R. Bloomberg was sworn in as New York City’s 108^th mayor during a somber ceremony on the first day of 2010 at City Hall Park. Unlike his previous inaugural ceremonies, this year’s featured students from local schools as emcees and entertainment.

Having defeated Democratic candidate Bill Thompson, by a narrow margin late last year, Bloomberg will serve a 3^rd term as the City’s top official.

While some thought the billionaire’s third run to City Hall would have been a slam dunk, considering he financed his entire campaign _ it wasn’t. Many voters in the City were angry that the Bloomberg, who had promised not to run for a third term after being elected in 2005, was successful in changing election laws allowing him and other City Council members to seek a third term. During the campaign Bloomberg told voters that NYC needed his financial acumen to guide the City through hard economic times.

In the end Bloomberg, who according to Reuters spent nearly $140 million of his own money compared to his challenger Thompson’s $7 million) squeaked out a 51 % to 46% win. This makes him only the fourth mayor in the City’s history to serve three terms.

Also being sworn in during the ceremony was the City’s first Korean comptroller, John C. Liu, and Bill de Blasio as Public Advocate.

To read the Mayor’s entire speech click on this link or place in your internet browser.

http://andwearenotsaved.blogspot.com/2010_01_01_archive.html

To read an additional story on the Mayor’s race: http://www.ireport.com/docs/DOC-237299