Word: wharf
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When the 4,500 people who used to work for Lehman Brothers in London showed up at the investment bank's plush office on Canary Wharf on Sept. 15, only to be told that the firm was out of business and that they should look for another job, some of them did what any number of their colleagues around town have been doing for years: they threw a party. On the equity-trading floor, the internal p.a. system known as the "hoot" blared out the R.E.M. song "It's the End of the World As We Know It." And then...
...these days, coexisting with the urban blight are plenty of new, well-heeled residents in new, well-appointed residences: bankers and others who work at Canary Wharf, the docklands development where Barclays, Morgan Stanley, Credit Suisse and many others have their offices. Greenwich is just a short hop from the wharf, thanks to the Docklands Light Railway. Liam Bailey, head of residential research at the real estate firm Knight Frank, says the gentrification started a decade or so ago and has accelerated in the past five years. Knight Frank is currently offering one-bedroom apartments with river views there starting...
...Peter Jenkin Morgan was watching with a knowing eye on Sept. 15, when some 4,000 Lehman Brothers employees in London's Canary Wharf lost their jobs in a flash - and cut loose with abandon in the business district's pubs. Champagne corks popped, and conversations seemed to be on steroids as everyone wanted to talk. Surrounded by cardboard boxes holding their desk contents, the newly unemployed bankers drank for hours. For a night, at least, Canary Wharf looked like a carnival...
...council has pursued a major state-funded regeneration program aimed at cutting crime and unemployment, and improving the decaying public housing stock. But these days, coexisting with the urban blight, are plenty of new, well-heeled residents in new, well-appointed residences: bankers and others who work at Canary Wharf, the docklands development where Barclays, Morgan Stanley, Credit Suisse and many others have their offices. Greenwich is just a short hop from the wharf, thanks to the Docklands Light Railway, which linked up parts of once dilapidated east London in the '90s. Liam Bailey, head of residential research at realtor...
...less. Whereas they used to buy their eggs and bread, now they're just buying a cup of tea." Heap, who opened the shop less than a year ago, has dropped her prices by 25% and let some staff go. She remains upbeat about the future, but with Canary Wharf on her doorstep, she concedes, "I do feel a slight wave of fear...