The Future of London and New York As Financial Centers

"Do not write off New York and London," is the title of an article written by Michael Skapinker in the Financial Times (30th of September). According to his opinion he figures that those two cities will remain leaders in Finance despite the negative publicity in the last month.

Three arguments support his idea:

Language. "Lehman brothers may have gone overnight, it takes centuries for a language to disappear." According to his argument, a global generation has invested years learning English which has no ready challenger.

Law. Despite the outrageous fees for lawyers in both cities, no other city would offer defence for corporate rights, at least not credible: Do you believe Moscow or Shanghia would?

Collective brain power. Although this "may seem laughable given where bankers supposed intelligence has landed us now," but he argues that these cities as they are open will also offer the solution.

"The next 30 years will be different," but London and New York will be back, that is ... according to Skapinker.

Looked at it from an other side, the first argument could be inverted: the world has really become global and English is no longer the language of the US (or Canada) and UK (or Australia), but has become a global language. Also in Finance. Why stick to London or New York for financial matters rather than in Geneva, Amsterdam or Madrid?

Law and lawyers. What will globalization do with law? When at last will law change to be more transparent? It is one of the territories that has escaped any critic, whereas lawyers are (more often) the problem rather than the solution. If there ought to be a single-global-currency, I would argue it to be universal (financial) law.

Collective brainpower? Why are medical specialists so intelligent whereas hospitals (as an institute) can be so foolish? Why can a financial specialist be so smart and a bank so stupid? Knowledge management has failed because of specialization. Both London and New York are symbolic for financial stupidity and that will have to change. We need to think different and cooperate between and over specializations. That wisdom will not come from New York, nor from London. I think.

What about networking? Why would two cities dominate, where there is so much knowledge spread around the world. Rather than two monoliths I would argue that the new financial order is divided between a large network of smaller entities...

Loading Bans in the United Kingdom

The loading and unloading of goods is one of the few exemptions to on-street parking restrictions in the UK.However a loading restriction, incorporating a prohibition on both loading and parking is one of the most misunderstood by drivers in the country leading to the needless incurring of parking tickets.

Parking prohibitions in the UK are most commonly represented by yellow lines. But there are also widespread bans on footway, overnight and crossover parking. However all these bans are overridden under certain circumstances by the allowance to load and unload for specific periods.

Nevertheless certain stretches of highway are regarded as too risky to permit long term parking to facilitate loading/unloading. Such stretches, such as busy junctions or intersections are marked with yellow lines accompanied by Kerb Chevrons or Marks. Kerb Chevrons are small yellow strips marked on the kerb beside a yellow line drawn along the carriageway edge. These chevrons ban both parking and loading for the period stated on nearby white upright signs that must always accompany them. Or in other words, they override the usual loading allowance on yellow line restricted streets.

There are 2 types of loading bans represented by Kerb Chevrons. They are -.

• Single Kerb Chevrons

• Double Kerb Chevrons

Single Kerb Chevrons

Single Kerb Chevrons are represented by suitably spaced single kerb marks on the kerb and they ban loading largely during the morning and evening rush hour, with a window in-between where the activity will be permitted as an allowance on the accompanying yellow line. For instance a sign stating - NO loading 8.30am - 1030 and 4.30pm - 6.30pm. This will prohibit loading/unloading during the period stated, but permit it within the window of 1030am - 4.30pm. Single Kerb Chevrons can be marked against both single and double yellow lines.

Double Kerb Chevrons

Double Kerb Chevrons represent a 24 hour parking and loading ban and they can only be marked against double yellow lines. They must always be accompanied by a white upright time plate specifying the restriction and its hours of enforcement.

Kerb Chevron/mark Design rules.

1. Kerb chevrons must always be accompanied by upright signs (time plates) specifying the restrictions and their operational hours

2. Kerb Chevrons must be signed for every 15 metres of restriction

3. Kerb Chevrons must be placed in such a manner as to ensure that there will be at least one set beside a standard length car

4. Both single and double kerb markings must be backed by a Traffic Order (Traffic Regulation Order in London) by the local authority imposing it.

Legislation and Traffic Sign Guidelines for Kerb Chevrons

All loading bans must be backed by relevant Traffic Orders (Traffic Regulation Orders in London). Traffic orders are the legal instruments which Local authorities in the UK promulgate to establish and enforce their parking restrictions and controls. They are issued under the auspices of the Road Traffic Act 1984 and the Traffic Management Act 2004 and must be promulgated in line with the stipulations of the Local Authorities Traffic Orders (Procedure) (England and Wales) Regulations 1996 which require some form of prior consultation and publication of intent in a local newspaper.

Kerb Chevrons, representing loading bans and their accompanying upright signs are standard UK traffic markings and signs and must be designed and positioned in accordance with the stipulations of the main UK traffic standard - The Traffic Signs Regulations and General Directions TSRGD 2002. Design standards for Kerb marks or chevrons are found in schedule 6 of this document while the upright signs that must accompany them are authorised in schedule 2. All markings and signs not in accordance with the specifications of the TSRGD will be invalid and any parking tickets issued on them open to challenge.

Single and double Kerb marks are authorised by TSRGD 2002 Regulations 4 and Directions 7, 23, 24(1), 24(4) 25 and explained in the Traffic Signs Manual Chapter 5 section 20.7 on page 116 -117.

The accompanying signs for both single and double kerb markings are authorised by the Traffic Signs Regulation and General Directions TSRGD 2002 - Directions 7, 11, 24(1) and 25.

Enforcing Loading Prohibitions in the UK

Loading bans in the UK are enforced by Contravention code 02. They are amongst the most stringent UK restrictions on stationary vehicles and carry few exemptions. However they do not disallow parking by vehicles involved in statutory works. Nor do they prevent stopping which occurs when a vehicle parks on the public highway in compliance to a traffic control/instruction or to allow passengers alight or disembark from a vehicle, provided there is no delay in either activity.