Bloomberg Taking 'Boxes' With Him: NYC Can't Use Terminals After Term Ends

New York City Mayor Michael Bloomberg will cancel the city's free use of his Bloomberg business terminals when he leaves office in January, reports the New York Post.

If the next administration wants to use the 60 so-called "Bloomberg Boxes," spread throughout the city's five boroughs, taxpayers will be charged $20,000 annually for each terminal, or $1.2 million a year.

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When he took office in 2002, Bloomberg waived the fees for the 25 computers already being used by the city's financial departments and paid for another 35 terminals to be added at City Hall.

"The city was a paying client before Mike Bloomberg became mayor, and to remove any possible conflicts, the company [Bloomberg LP] agreed to provide free terminal use as long as he remained in office," company spokesman Ty Trippet told the Post, adding: "We don't expect that would continue after he leaves office in December."

The terminals have six monitors that offer real-time market data, news aggregation, Internet access, and a way for subscribers to submit trades electronically.