Bloomberg Pledges He Won't Run Out of Ideas in Third Term

Mayor Bloomberg is promising to shake things up as he starts a third term in office.

BLOOMBERG: Conventional wisdom holds that in a third term, mayors run out of energy and ideas. But we've proven conventional wisdom wrong time and time again, and I promise you, we will do it one more time!

REPORTER: Bloomberg says he'll order top officials in every agency to help run another department, and report back to him with suggestions on ways to do things better. He also said he plans to push for national immigration reform, and to shake up the city's bureaucracy. Bloomberg is only the fourth man to have a third term as New York City mayor. He called that, quote, "a special opportunity."

Among the audience of around 2,000 for the inaugural speech were some who didn't vote for Bloomberg...but said they liked the more modest tone the 67-year-old billionaire took in his address. Michael Lagnado, a lawyer who works in Lower Manhattan, didn't think the mayor should have run for a third term.

LAGNADO: I did appreciate the fact that he acknowledged that often mayors in their third term don't do well, and I appreciated the fact that he said that he was going to try to buck that trend.

REPORTER: Therese Gamboa voted against Bloomberg because she thought he was out of touch with ordinary New Yorkers. She says she liked the overall tone of "hope," but that he could really win her over in the next four years if he adopts this mission:

GAMBOA: Reach out to especially the lower middle class, provide housing for them, education.

REPORTER: John Liu and Bill de Blasio, the city's new comptroller and public advocate, both took the opportunity during their inaugural addresses to say they'd continue to challenge Bloomberg. Both were against changing term limits.