Ex-Canary
AN IRONY of the IMC's caravan-like progress around the world (last year in Osaka, next year in Stockholm) has brought them to the home town of the world's most ambitious property company. Olympia & York is or was, in the balance- sheet terms, as big as a fair-sized third world country, and, though more respect- ed, was not much more informative. The Toronto banks have learned that they do not have to travel to get into trouble. There was an unfounded rumour that, for motives of economy, the host banks were switching this year's IMC to Canary Wharf. Lady Bracknell, interviewing her prospective son-in-law, demanded to know his address and was given a number in Belgrave Square. The unfashionable side,' she noted. 'However, that can be changed.' `Which, Lady Bracknell, the fashion, or the side?"Both, if necessary. I presume.' The same imperious assurance underlay Canary Wharf. Its failure (you are told here) is Londoners' fault — typically stuffy and pusillanimous, they totally lacked the courage of other people's convictions.
Previous page
