Good thing there are no UBS stores around here

UBS cuts bonuses 80%. Gosh, if they were in the financial field and we had any UBS employees working near Greenwich, that would hurt. Sort like if Rigid Balloon Ships were building a headquarters in Stamford. Then we’d be sunk!

10 Comments

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10 responses to “Good thing there are no UBS stores around here

  1. Anonymous

    Don’t look now, but UBS has had an office at One Lafayette Place since 1990

  2. christopherfountain

    Yeah, they took over Kidder Peabody’s place after that skunk works was shut down. I like to think I played a small part in that result by hitting a few of their crooked brokers so often. GE didn’t like the stench the firm emitted and, while my own contribution to releasing that stench was tiny, every bit helps.
    And at least UBS doesn’t have a trading place in Stamford, huh? Can you imagine the impact on Greenwich prices if there were a whole pile of trader/would be homebuyers who were suddenly without big bonuses? No fun, for sure.

  3. Chris,

    UBS’s primary trading floor in North America is located in Stamford opposite the train station. I am sure more than a few trader types are in Greenwich.

    Lars

  4. christopherfountain

    Joke, Lars. And Rigid Balloon Ships? That’s actually Royal Bank of Scotland (RBS, get it?) whose headquarters are (were) going up next door. They’re not doing so well either.

  5. kidding really?

    People got restricted stock that vests in 3-4 years. Nobody got cash of significance. If you think unvested underwater stock options can buy houses then think again.

  6. anonymous

    Greenwich will benefit from 5% CT inc tax (vs NYC’s ~10%); low prop txs; HFs preferring CT over NYC for offices; and cheaper pvt schools (vs Manhattan)….

    But Greenwich will suffer fact its land is cheap and building permits are relatively easy…those left standing in this economy might be a bit more picky vs used/spec houses than buyers of Bubble era….

  7. Anonymous

    I’m curious who the “crooked brokers” in the Greenwich Kidder Peabody office were?

    • christopherfountain

      The one I pursued was a fellow named Ted Saunders – turned out he preyed on old ladies, befriending them and churning their accounts. Not a very nice guy.

  8. Anonymous

    Actually, Paine Webber took bot Kidder Peabody from GE. UBS then bot PW .

  9. Anonymous

    You are absolutely right about Ted Saunders-he was a rouge, but it is unfortunate that you judge the Kidder Greenwich office and the entire firm by that one person (and there were a few more: Joe Jet, Marty Seigel, and Peter Brandt), but there were a lot of fine people in that office and firm, especially compared with the rest of the bunch on Wall Street. I knew that office well- I was in it.