London was Calling - It needed a shrink!

On Monday evening Markus left the rainy and cold Vienna again for probably one of the most vibrant cities in Europe, the home of Princes Charles, William and Harry, London, for a conference on Austrian companies, a management meeting and several client meetings until Friday. Having lived for almost 4 years by the river Thames, London became something like a second home to Markus and returning is always connected with nice memories. We are trying to come back at least once per year for a weekend, as both of us love the city to pieces. For 2008 our visit together is still pending actually!

Shopping in Carnaby Street is an integer part of any London visit

The conference, co-hosted bz the Vienna Stock Exchange and UniCredit MIB took place in the Courthouse Kempinski Hotel, just opposite Carnaby Street, one of the nice pedestrian zones and shopping streets in the West End of London. the hotel used to be, as the name says already, a court in previous times, and some oparts of the hotel have been kept pretty much unchanged. The most obvious examples were three cells (including toilets) which form part of the hotel bar, and which could have been used ideally for very private or detailed, undisturbed discussions between investors and some companies. Given the markets sold off yet again during the week (most of all hitting ImmoEast which lost 50% until Thursday close due capitulation of shareholders) such meetings would not have been a big surprise.

Ideal for very private conversations: One of the cells in the Courthouse Kempinski

Given the UK economy and housing market is structured in a similar way to the US market and after bancrupcy of Lehman Brothers, the takeover of Merrill Lynch by Bank of America and the bailout of AIG on the weekend also HBOS became a vicitim of the credit crunch and is most likely being eaten up by Lloyds TSB its not surprising that the mood in London's city was very depressed as the ghost of redundancies, job losses and recession were walking around rather than waiting behind some corners. Hence the management meeting on Thursday was a pretty much serious event with lots of measures having been discussed and taken in order to weather the heavy storm best.

Markets cost Markus' colleague his shirt..

As Markus moved to London in summer 2001, a time when job-losses, layoffs and depressed ewconomy was a big topic the last time it was not a complete shock, but the city presented itself very different to the past few times. Nevertheless, the mood did no harm to the beauty of London and the fact that Markus likes is looking forward to returning soon again. Obviously he can't wait to get back home again after 4 days away to spend some quality time together with Kerstin again!

Kerstin & Markus