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Bloomberg Terminals Offer Top Level News and Financial Information

In late February, Yale Law School acquired seven Bloomberg terminals, a cutting-edge news and information platform offered by Bloomberg L.P. that enables subscribers to monitor financial market movement and trades and legal and regulatory developments. With its exhaustive reams of real-time financial data and tools that allow users to leverage the data's usefulness, plus constantly updated electronic, print, TV and radio news, the “Bloomberg,” as it is known, has revolutionized the way bankers, analysts, investors, attorneys and others access financial information. Just how valuable is it in business?

Fortune magazine in its April 5 issue cited the head of an East Coast money-management firm who offered to raise the bonuses of each of his twelve analysts by $15,000 if they would give up their Bloombergs. “Eleven out of the twelve said no,” reported Fortune. “One analyst said he would actually prefer to see his current bonus cut by $15,000 rather than give up his Bloomberg.”

Whether or not they’re quite that smitten, Yale Law School professors and students are extremely enthusiastic about the terminals at the Law School and the wealth of legal and other information they provide. One terminal is located in the Reading Room of the law library and is available to all students. Six faculty members have access from their own computers. 

Gregory Ruben ’08 uses the Bloomberg in the law library several times a day.

“It’s an extraordinary resource,” said Ruben. “The news functions are better than anything else you’d get on the Internet.  The Bloomberg fix is that the second you walk away, you’re missing something.”

That sentiment was echoed by John Nann, Associate Librarian for Reference and Instructional Services, who took time on a recent afternoon to run through some of Bloomberg’s features with this reporter. “While you were sitting here,” he said, “I found out three things I didn’t know that are important for me in my job.”

Nann says any member of the Yale Law School community who wishes to get training on the Bloomberg should contact him or one of the reference librarians.  “In fifteen minutes, you can learn the really important functions,” he said. He added that Bloomberg representatives are expected to be here in the fall doing group training.