July, 2009


23
Jul 09

A rant from Chelsea

I generally believe that being a career woman by day and a Chelsea housewife by night gives me the best of all possible worlds. But recently, as I walked down my deserted, cherry-tree lined street in Chelsea, and counted the number of my girlfriends ensconced for the summer in Cornwall/Provence/Umbria/Andalucia, I wondered whether I am mistaken.


Mark Hoban, Shadow Financial Secretary to the Treasury and an accountant by training, was heading off for his summer break the day after I met him for coffee. He may well be based in Brussels if the Tory Party makes it into government. That is one of the best suggestions in their recent blueprint for overhauling City regulation.
Hoban mentioned how European Commission officials said the Brits did not engage on a sustained basis. They arrived late for meetings and left early. "I suspect the only way to build up relationships with our European peers is to be there more often," says Hoban. That is crucial as the crisis means a much more interventionist Commission will be in place after October, he notes.


13
Jul 09

No pool toys for the banks this summer

To a private view of the Jeoff Koons exhibition at the Serpentine Gallery, courtesy of Pi Capital.  His latest series features inflatable pool toys for toddlers. Except everything is not what it seems. Homage to Salvador Dali lobsters, dolphins and turtles, are not light as air but made out of aluminum and painted to resemble the real thing.

Not unlike Nellie Kroes, the formidable EU Competition Commissioner (http://blogs.ec.europa.eu/neelie-kroes/). Except it is the reverse: she appears a heavy-weight when her powers are fast waning.  In the meantime, she scared the living daylights out of Lloyds Banking Group shareholders with her statement at the end of June that it could be forced to sell its Halifax or Bank of Scotland branch networks to comply with European anti-trust rules.


6
Jul 09

Grovels in a Car Park

What do an European Union Commissioner, a handful of top City deal makers, a Mexican jewelry designer, a hedge fund ceo and the Lancaster Herald of Arms, all have in common?
A car park.

They were among 120 people at my annual summer party. In credit crunch mode, the champagne no longer flowed freely but the white wine did. Similarly, the Orangerie in Holland Park, the usual venue, is too much identified with boom times, let alone too expensive. Instead, the party took place at a friend’s antiques emporium in Fulham www.hrw-antiques.com. Except the heat made the adjacent cool car park a preferable venue, quirkily decorated with a Bentley and a few white vans.