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I don't understand how Bloomberg could be down worldwide. Worldwide??? 99% of what Bloomberg terminals are useful for can easily be replicated in multiple dat

I don't understand how Bloomberg could be down worldwide. Worldwide??? 99% of what Bloomberg terminals are useful for can easily be replicated in multiple data centers. Why not, at a minimum, three separate regions, e.g. Asia, Europe, America? These terminals lease for $24,000 a year. No discount for multiple terminals. I wouldn't be surprised if a single big investment bank pays $50 million a year to Bloomberg for its terminals. Michael Bloomberg is a billionaire. Surely the company can throw a few crumbs into some redundant data centers and availability zones. And if it's down because of a botched worldwide software update, the people responsible should be immediately walked out the door and told "you're too f*ing stupid to work here any more". IMO. Sorry to be so dramatic. But the financial world depends on these terminals (for better or for worse). They have a right to expect unrealistic reliability.

gchokov 12y ago
No need to say sorry. Truth might be bitter but is still truth. It's going to be a little doom's day today in the finance world worldwide.
whatok 12y ago
They're really lucky this happened on a slow news Friday; especially with everything going on with Greece right now.
q2 12y ago
Support people at Bloomberg must have been really busy today and phones may be constantly ringing. Wish we get post mortem report later on.
apaprocki 12y ago
The service does have unrealistic reliability. An event like this is exceedingly rare.
zhte415 12y ago
Terminals can lease for way more than $24,000 depending on additional data options, and an investment bank can easily spend more than $50m on them. There will also be Reuters, Datastream and various other terminals with not quite substitutable functionality kicking around the office, so they're not totally 'in the dark' its just a bit less convenient and some trades could be missed.
quadhome 12y ago
Bloomberg has just paid a lot for their experience of what mistakes to not make in the future. Walking them out the door would be a fantastic waste of money.
- chrisbennet 12y ago
  That's the way a smart business would think. I wonder how smart Bloomberg is? It's not uncommon for the goals of employees ]assign blame, cover ass, grab more power, short term profit] to be misaligned with the long term goals of the business.
  - apaprocki 12y ago
    There is a lot of assumption going on (that a human messed up). Even if that was the case I've never known it to be a place that would have knee jerk reactions like that. The company is more interested in saying "failures will happen, how do we prevent them from becoming major issues?".
    - chrisbennet 12y ago
      That sounds like a smart company.
spoonman1 12y ago
Anytime humans are involved mistakes will be made. Where I work when something goes down it's a total panic and later it always has to be someone's fault. Sure lends itself to lots of CYA and working scared.

gchokov 12y ago

No need to say sorry. Truth might be bitter but is still truth. It's going to be a little doom's day today in the finance world worldwide.

whatok 12y ago

They're really lucky this happened on a slow news Friday; especially with everything going on with Greece right now.

q2 12y ago

Support people at Bloomberg must have been really busy today and phones may be constantly ringing. Wish we get post mortem report later on.

apaprocki 12y ago

The service does have unrealistic reliability. An event like this is exceedingly rare.

zhte415 12y ago

Terminals can lease for way more than $24,000 depending on additional data options, and an investment bank can easily spend more than $50m on them. There will also be Reuters, Datastream and various other terminals with not quite substitutable functionality kicking around the office, so they're not totally 'in the dark' its just a bit less convenient and some trades could be missed.

quadhome 12y ago

Bloomberg has just paid a lot for their experience of what mistakes to not make in the future. Walking them out the door would be a fantastic waste of money.

chrisbennet 12y ago
That's the way a smart business would think. I wonder how smart Bloomberg is? It's not uncommon for the goals of employees ]assign blame, cover ass, grab more power, short term profit] to be misaligned with the long term goals of the business.
- apaprocki 12y ago
  There is a lot of assumption going on (that a human messed up). Even if that was the case I've never known it to be a place that would have knee jerk reactions like that. The company is more interested in saying "failures will happen, how do we prevent them from becoming major issues?".
  - chrisbennet 12y ago
    That sounds like a smart company.

spoonman1 12y ago

Anytime humans are involved mistakes will be made. Where I work when something goes down it's a total panic and later it always has to be someone's fault. Sure lends itself to lots of CYA and working scared.