From the Associated Press, via Newsday:

At a news conference with U.S. Labor Secretary Hilda Solis to discuss how stimulus money is being used for job training, Bloomberg noted several ways the economy seems to be doing better. Then New York Observer reporter Azi Paybarah asked whether the improving economy cancels out Bloomberg’s rationale for changing term-limits law last fall.

The billionaire mayor had the law changed so that he could run for a third term this year. The former CEO’s main argument at the time was that New Yorkers needed him to use his financial expertise to protect the city from fiscal ruin.

See also Ben Smith’s coverage at Politico. Which includes video clip