UBS takes a tumble

Southwest Connecticut stocks fell Thursday, led by a group that included UBS AG and Praxair Inc. Full Story
Vox Pop

Higganum, CT

#1 Mar 6, 2009
UBS is sure on a roll.
Busy defying US Senate and Court demands to reveal all 52,000 Americans whom it helped cheat on taxes, and now a link to the Madoff mess!
I wonder if UBS will tell the Luxembourg Court that disclosure would violate Swiss Banking Laws.
It's starting to look like UBS only knows how to behave in Switzerland.
Ha Ha

Deep River, CT

#2 Mar 6, 2009
They dug their own hole the greedy b's.
How much lower can Stamford go?
jenna

Southbury, CT

#3 Mar 6, 2009
They did indeed dig their own greedy hole...No wonder so many have had to be laid off.
Shame on UBS.
Vox Pop

Higganum, CT

#4 Mar 6, 2009
Yes, some very good people lost their UBS jobs through no fault of their own...

More interesting is the complete absence of any Advocate coverage of UBS' appearance before the Senate Committee, or of its refusal to disclose all the Americans it illegally tax-sheltered.
Looks like UBS has friends at our local paper, which also never printed anything about the massive securities violation case against UBS to our north, in Mass., I believe.
Frijoles

Bristol, CT

#5 Mar 6, 2009
Vox Pop wrote:
More interesting is the complete absence of any Advocate coverage of UBS' appearance before the Senate Committee, or of its refusal to disclose all the Americans it illegally tax-sheltered.
Looks like UBS has friends at our local paper, which also never printed anything about the massive securities violation case against UBS to our north, in Mass., I believe.
Gee, why would the Advocate bother with this small irrelevant story? Just because the Washington Post, NYtimes, Bloomberg and AP are carrying it doesnt mean the story is of any import!
Vox Pop

Higganum, CT

#6 Mar 6, 2009
Frijoles wrote:
<quoted text>
Gee, why would the Advocate bother with this small irrelevant story? Just because the Washington Post, NYtimes, Bloomberg and AP are carrying it doesnt mean the story is of any import!
Kinda gives rise to an Andy Rooney opener.."did you ever wonder why..."...???
I have.
The answers that come up are not pretty.
They range from incompetent myopia - which is benign - to outright editorial "friendship," which is malignant.
HMM

Farmingdale, NY

#7 Mar 7, 2009
I work at the Union Bank of Swindlers. I am so disgusted with the lack of ethics in dealing with the Tax cheats that I want to quit but I can't afford to.

The place has turned into a ghost town. Used to be that you could not get a parking post on the ground floor after 8.00am and the entire 7 level parking garage would fill up by 9.30 so they would close it and direct anyone who came in to Bell Street lot. Now, even the ground floor has several spots after 9am and the sub level floors are empty. I estimate 40% of UBS in Stamford is gone at least 10% more on their way out.

RBS across the street has pretty much been nationalized. Only a matter of time before the entire RBS unit in the U.S.(non-core prop trading) is gone. GE..is sinking too. Stamford is in for one hell of a rude awakening. I am willing to bet that RE price in STamford are going back to those pre-boom of 1996/7.
Vox Pop

Higganum, CT

#8 Mar 7, 2009
HMM wrote:
I work at the Union Bank of Swindlers. I am so disgusted with the lack of ethics in dealing with the Tax cheats that I want to quit but I can't afford to.
The place has turned into a ghost town. Used to be that you could not get a parking post on the ground floor after 8.00am and the entire 7 level parking garage would fill up by 9.30 so they would close it and direct anyone who came in to Bell Street lot. Now, even the ground floor has several spots after 9am and the sub level floors are empty. I estimate 40% of UBS in Stamford is gone at least 10% more on their way out.
RBS across the street has pretty much been nationalized. Only a matter of time before the entire RBS unit in the U.S.(non-core prop trading) is gone. GE..is sinking too. Stamford is in for one hell of a rude awakening. I am willing to bet that RE price in STamford are going back to those pre-boom of 1996/7.
Good luck. I say that to those who have managed to survive, and the thousands whose jobs vanished, again - not because of what THEY did wrong!
With the British handout it looks like the RBS trading floor will make a good jai alai fronton.
It's very sad to see so much good potential fall victim to the few unprincipled.
Jack

Monroe, NY

#9 Mar 7, 2009
What is UBS doing with that whole other building they seem to have moved into as well in Stamford?
Vox Pop

Higganum, CT

#10 Mar 7, 2009
Jack wrote:
What is UBS doing with that whole other building they seem to have moved into as well in Stamford?
Sublets?
HMM

Farmingdale, NY

#11 Mar 8, 2009
THEY will gradually consolidate everyone into the main UBS building..I think they maybe locked into leases..as the leases roll off, everyone gets pushed into the main building...plenty of room.
Steve

Piscataway, NJ

#12 Mar 8, 2009
Remember the big story back in July was they quietly purchased block of homes around their headquarters in Stamford. I wonder if these will fall under dis-repair and become a liability for the city?
Vox Pop

Higganum, CT

#13 Mar 9, 2009
Steve wrote:
Remember the big story back in July was they quietly purchased block of homes around their headquarters in Stamford. I wonder if these will fall under dis-repair and become a liability for the city?
I believe that was the Royal Bank of Scotland (RBS).
I also recall reading recently about demolition of those buildings.
Vox Pop

Higganum, CT

#15 Mar 9, 2009
Question wrote:
How many of those 4,000 UBS employess in Stamford are long term temps that have been working there for years yet UBS still doesn't give benefits to?
UBS is all about cutting corners and doing whatever is cost-effective. No matter what the implications.
I am not sure. But I do know several people whose employment vanished there.

It seems UBS has a business ethic all of its own. It does business here with Americans, but tries to use Swiss law to cloak the 52,000 people it provided means of dodging their US taxes. Go figure?
James

Monroe, NY

#17 Mar 9, 2009
Steve wrote:
Remember the big story back in July was they quietly purchased block of homes around their headquarters in Stamford. I wonder if these will fall under dis-repair and become a liability for the city?
That was RBS, but I wonder what they're going to do with it as I believe their having financial troubles as well.
Vox Pop

Higganum, CT

#18 Mar 9, 2009
James wrote:
<quoted text>
That was RBS, but I wonder what they're going to do with it as I believe their having financial troubles as well.
To quote a Hollywood legend, "They certainly are, Ollie."
Don't hold your breath waiting for action on that big trading floor, or looking for the once planned gourmet cuisine.(That's already been cut.)
Ash

Monroe, NY

#19 Mar 9, 2009
Vox Pop wrote:
<quoted text>
To quote a Hollywood legend, "They certainly are, Ollie."
Don't hold your breath waiting for action on that big trading floor, or looking for the once planned gourmet cuisine.(That's already been cut.)
Figures, I just hope they finish that damn building soon! Its a pain driving down Washington Blvd. to get on 95 south, with their construction barriers blocking half the lane!

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