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300 Madison


stuny

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Very early yesterday morning at the 41st Street entrance to 300 Madison. The Canadian Bank of Commerce (CIBC) built this building to be their US headquarters of CIBC World Markets. But that was before they seem to have discovered that they didn’t understand the US markets well enough, and have since sold off virtually all their US businesses. I think they still retain title to the building. Straight ahead is 42nd Street, and to the right is Madison Avenue.

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While still rock solid, CIBC was the Canadian bank worst hit by the subprime debacle since they held quite a lot of the asset-backed securities that turned out to be "soft". I guess they believed the rating agencies. Mainly they took a hit in their profits.

 

BTW - very nice picture (should have said that first). Shows the space well. Carpet logo very nicely placed.

 

Michael

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Stu,

Your ability to repeatedly knock off these remarkable shots on your way to work each day astounds me; I work from home (in theory), currently averaging 800 miles per week so far this year, not finding much to photograph with our UK global-cooling weather systems. :(

 

Keep them coming. :)

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