Comes HSBC, a Scottish company, with the news:
HSBC announced in 1982 it was building a fantastic, futuristic new headquarters in prime real estate in Hong Kong Central. Very pleasing vote of confidence in Chinese stability after the handover.
Within a few years the building was constructed, and an odd thing it is. It looks rather like a Erector Set Toy, like it could be taken down easier than it went up. Well, it could. The whole thing is drop in, bolt on, plug and play building. Plus, HSBC bought a platform in Australia, which if need be, and HSBC took down this new building, shipped it to Australia and rebuilt it, they could.
So they bet, with a hedge. If things went band, HSBC could pack up their building and take it away.
Another reason I like that bank so much.
Feel free to forward this by email to three of your friends.
A Conservative spokesman declined to comment on HSBC's announcement, but said Britain's future membership of the EU was a decision for the British people.Labour's plans to raise taxes on banks if it comes to power may also influence HSBC. The bank is already expected to pay $1.5 billion under a UK bank levy this year, or about 7 percent of expected profits because it is taxed on its global balance sheet. That charge is up from $1.1 billion last year.It takes 15 years to recover your money form a high rise. In 1982 bets had to be made on whether Chinese Communists would leave Hong Kong along or not after the handover in 1997. Jardine Mathison bet not, and move to the Caribbean. Bad call. Hong Kong & Shanghai Bank (a Scottish company), (HSBC) bet yes, with a hedge.
HSBC announced in 1982 it was building a fantastic, futuristic new headquarters in prime real estate in Hong Kong Central. Very pleasing vote of confidence in Chinese stability after the handover.
Within a few years the building was constructed, and an odd thing it is. It looks rather like a Erector Set Toy, like it could be taken down easier than it went up. Well, it could. The whole thing is drop in, bolt on, plug and play building. Plus, HSBC bought a platform in Australia, which if need be, and HSBC took down this new building, shipped it to Australia and rebuilt it, they could.
So they bet, with a hedge. If things went band, HSBC could pack up their building and take it away.
Another reason I like that bank so much.
Feel free to forward this by email to three of your friends.
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