Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

London's 850-year-old food markets to close

bbc.co.uk

Post reply on HN
Print view View original

41–50 of 300 posts

Re: London's 850-year-old food markets to close

#41

Post by sdwr »

walterbell wrote: post #8

Need a City quant PhD to invent a mathematical analog of Black-Scholes [1] for pricing and trading the irreplaceable value of culturally significant physical spaces to future generations. Then City-like [2] institutions can compete financially for ongoing preservation rights, rather than a one-time chop shop auction. [1] https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model [2] https://en.wikipedia.org/wiki/City_…

"Preserving the irreplaceable value of ..." works great as a personal motivation or a mission statement, but terribly as an explicit rule. It's the same problem as carbon offsets - if there's a formula for converting intangible values into cold hard cash, people will exploit the definition of the intangibles to make money.

Re: London's 850-year-old food markets to close

#42

Post by kibwen »

If you're in Boston, the open-air Haymarket operates downtown on Fridays and Saturdays, and more-or-less has been doing so continuously for 200+ years now. https://en.wikipedia.org/wiki/Haymarket_(Boston) Even if you're not near downtown, the prices make it worth the trip (bring cash and bags).

Re: London's 850-year-old food markets to close

#43

Post by teractiveodular »

It's interesting to see how cities are handling the increasing bifurcation of wholesale and retail markets.

In Sydney, the current Fish Market is a grotty assemblage of small warehouses in what's now a prime waterfront location of the city that has become an unlikely tourist attraction, but still serves the wholesale market. They're building a new one right next to it that looks far nicer, leaves tourists much less at risk of getting impaled by a speeding forklift, and will keep the wholesalers around for at least some time since they've been promised fixed rents for the next X years: https://newsydneyfishmarket.insw.com/insw/new-sydney-fish-ma...

All other markets, though, have been shipped off to a massive complex in the industrial suburbs, designed for wholesalers with easy truck access, and with the arguable exception of Paddy's Markets (which mostly sells junk to tourists) there's not a single proper consumer retail market in the entire city. Meanwhile, over in Melbourne, there's a whole slew of them (Queen Vic, Prahran, Footscray etc) that all appear to be thriving.

Re: London's 850-year-old food markets to close

#44

Post by dgfitz »

peteri wrote: post #22
dgfitz wrote: post #16

Earlier quoted context omitted.

And no laws or legislation have been passed or proposed to close down said institution, is that accurate?

As far as I'm aware they do need an act of parliment to close it down. The one to create the market on the current site is an Act of Parliament (The Metropolitan Meat and Poultry Market Act of 1860) which should protect the site from becoming anything but a place to provide Meat & Poultry

“It” meaning the market or the institution?

Re: London's 850-year-old food markets to close

#45

Post by dgfitz »

ericjmorey wrote: post #23
dgfitz wrote: post #16

Earlier quoted context omitted.

And no laws or legislation have been passed or proposed to close down said institution, is that accurate?

They are in the process of absolving their legal obligation to continue operating the market.

So the market moved 40ish years ago, and now it has to move again, the institution is fine?

Re: London's 850-year-old food markets to close

#46

Post by labster »

orra wrote: post #34
cjs_ac wrote: post #2

> The decision to close the markets and offer traders compensation was made by the Corporation's Court of Common Council. > The Corporation will now have to file a Private Bill in Parliament as it seeks to absolve itself of the legal responsibility of running the markets. The Corporation in this case is the Corporation of the City of London, which is the local government authority for the City of London, which is onl…

Why meet your legal obligations if you have a chance of deleting the obligations instead? Absolute chancers.

Why stop there? Why not revoke the City’s charter altogether?

Re: London's 850-year-old food markets to close

#47

Post by teractiveodular »

Winblows11 wrote: post #21
nothercastle wrote: post #13

Real estate developer looking to build build flats for Chinese and Russian investors. Gotta love the grift

Is there any Russian money going to UK/London anymore? Or any that wasn't frozen/sanctioned that hasn't already left. I know of trader who left London to work in Dubai to still take his Russian clients business, and apparently all Russian money is going there instead of London.

No Russian money, no sirree. Fortunately there's still plenty of housing designed to appeal to Russian-speaking investors holding passports from Vanuatu, Cyprus or St Kitts and Nevis and fat investment trusts in the Cayman Islands.

Re: London's 850-year-old food markets to close

#48

Post by philipwhiuk »

cjs_ac wrote: post #2

> The decision to close the markets and offer traders compensation was made by the Corporation's Court of Common Council. > The Corporation will now have to file a Private Bill in Parliament as it seeks to absolve itself of the legal responsibility of running the markets. The Corporation in this case is the Corporation of the City of London, which is the local government authority for the City of London, which is onl…

> The Parliamentary Bill may very well not pass, in which case the Corporation may be in something of a pickle.

I think it's highly unlikely that it would fail.

Re: London's 850-year-old food markets to close

#49

Post by philipwhiuk »

labster wrote: post #46
orra wrote: post #34

Earlier quoted context omitted.

Why meet your legal obligations if you have a chance of deleting the obligations instead? Absolute chancers.

Why stop there? Why not revoke the City’s charter altogether?

The City of London isn't legally reliant on a charter. It draws existence from 'Time Immemorial'.

Specifically it exists because it existed before 1189

Post reply on HN