Alex Hope market trader spent 200.000 pounds in a restaurant

Alex Hope from London spent 200.000 pounds in one nightly...mainly on champagne.

Oh no he is not a trader in a street market selling edible goodies or briconte. He is, apparently working as a bank trader in UK.

Oh my gosh....THIS amount could keep a number of French or British famalies going paying for their food, fuel and general living for a couple of years.

And could feed thousands of near starving people for several years.

Can this really be the way the financial structure works.

Or is the a divide of wealth we have created by default?

Is it healthy?

I feel ill just imagining ....

Hi Lucie,

Thank you so much! It's nice to get encouragements.

I'm in private and corporate Language training in London, City, Surrey, Kent & Paris (French, Spanish, English as a foreign language, Italian, Greek and other languages on demand). Children and adults. Native speakers. I teach myself and work with an ever extending team of great teachers that I recruit myself.

I'm also introducing slowly other GSCE/AS/A2 subjects like maths, biology, geography, history and music theory.

I'm now a member of the French Chamber of Commerce in the UK and the ICC so this should help a lot in terms of networking.

Bon weekend!


This is something I know not a great deal about - but I was under the impression the sweat shops were run for the cheap clothes, all the high end stuff being almost hand made in the big houses ? Someone somewhere am sure will be able to answer that.

Hi Sophie,


Good for you !!! Everyone needs rewards for their hard work, is a good motivation.

Let me know when you do and I will drink a toast to you. BTW, what line of business are you in ? Could you inbox me your website, that way, if any of my friends want something/some service that you provide, I can point them in your direction ?


Sophie...Yes I know Beckenham.Knew people who had a group of bakeries around and about the

area.They did well and employed a number of people for years and they had fun. I remember going to the Manoir...Raymond Blanc's place...we went as a group of 10 and had a good time and chose 3/4 bottles of

wine from the cheaper end of the list. I have eaten on several occassions at the Fat Duck in Bray with Heston's

parents...It was 100 a head for the tasting menu and Stephen brought his own wine from his cellar.

Our holidays in France were almost always in France and we had a wonderful time staying here and there

and trying Michelin starred restaurants. J would have a half bottle of champagne...A BASIC bottle.

I would drink Fizzy water. Not a recovering alcoholic but a sufferer of miagrain.

It is sad to hear about people anwaywhere who can not find work and depend upon benefits.

Not everyone is gifted.

My life in the restaurant buisness has brought me so close to reality.
I have seen so much and met so many people who are or where very rich and very


I have seen the tears behind their eyes as they told me about their loneliness or their

confussion or their obsession with vasts amounts of money.

Off to Sandy Lane for a few weeks...but in the same conversation....did you know

that you can go to France from Luton...d'ont go to France it's flat.

Why on earth should you not take tasty rewards from the fruits of your labour?

I still enjoy the feeling of success and knowing that the buisness is ticking over.

But I have no ambition to buy a dress or handbag which costs 6.000 POUNDS

which is made or partly made from sweat shops in India by 10 year olds.

Being able to develope a buisness and to operate it correctly is a true gift.

I would always admire ambition and success.

EnterprIse and determination. Not needing to be important.

But I believe in moderation...understanding and appreciating what you

have and savouring every moment.

I am findfing this in the countryside.

I conclude.

I agree with you Lucy! I know a rich ex-banker. He spends a lot on pleasure (like a big boat, plane, property etc) but also a lot in green projects and investments, he employs people so helps the economy and others in lots of ways. I work very hard, and if one day, I become rich, or even now, I'm richer than some friends of mine, I don't care what they think of me if I buy things they can't afford. I work all the time to develop my business, it didn't come easily. I've got French friends in a small Northern France town who have been complaining about the lack of work and who have been benefiting from pretty much free flats, benefits and the likes for years, when I've been slaving away for schools then agencies, then creating my business. They're now very admirative of my success. Well.. Sorry, I digressed. Conclusion: I'll buy some Crème de la mer if I feel like it.

Ace of Spades King Midas retails at 47K, the trader was charged 125K + service charge of 18K for the bottle. Someone somewhere has made a profit (96K give or take). A nice healthy one at that. The bar will pay inc/corp tax (however it is structured) and put some back into the govt. coffers. I struggle to understand how that is a bad thing. A lot of people have gained from his night out. He was being generous. (All my information I have gleaned from thwe Daily Mail, could not tell you if it is a reliable newspaper as this is the first time I have read it)

I am well aware of revenues, mark ups, profit margins, P&L's, etc etc, I am an accounting tech.

There was absoluteely no way he could have spent that amount of money in my restaurant.

Even if he filled its 45 covers.

I, perhaps could explain a few things to you about restaurants but I am

not about to. I KNOW nothing re Banking and many people know very little

about restaurants. It is not about the volumns of money you take it is about the

balance you achieve.

It has been noted....An old friend who now has 3 Mich stars told Rueters that at the

edge of receiving his third star the finances were so bad that he did not know how

he was to pay the staff....SUGGESTING THAT he had gone over the over draft.

Millions were spent on the restaurant elervating it's status and millions were taken

in revenue and the price per cover was very high...ONE Of the highest average spend per head in UK.
What am I SAYING?
I am saying do things to please yourself but think of others just a little at the same time.

In the news and then you are subject to scrutiny.

Back to work.

So am I correct in assuming, that had he come into your establishment (when you still owned it) wishing to spend that amount of money (for arguments sake here, it was all on drink, no drugs or anything illegal in the mix) , you would have turned him away ?

No Jane but some salaries and some spending seems to be beyond reality.

200.000 pounds is often a years turnover for some restaurants.

A year of paying Vat, paye...repairs and renewals, food and wine purchase bills. local taxes...

accountants fees and bank charges.

I feel that europe is in a mess partly because of the greed for momentry pleasures.

I am originally a poor girl from London.

I believing in hard work, decent pay and the ability to have enough money for a good holiday

or 2, fun days out and paying the bills with ease.

A bottle of Crystal in my restaurant was 100 pounds...NV now I guesse it would be 200.

Yes I had a markup...every one has a mark up.

We are different minds.

Work to do.

Are you really trying to tell me Barbara that the restaurant had little or no mark up?

To get through that amount of money they must have been drinking Cristal or vintage Krug, which has a huge mark up.

Who is going to say how we spend our money? Not going on foreign holidays for instance, which would not go down well on your profit and loss. Not spending on buying Rolls Royces,which would put english workmen and craftsmen out of work.

Well very many congratulations to you all. Happy news is always uplifting.

Thanks, no it was our second grandson. We are expecting our third grandchild in April.

We have two daughters, one in UK and one in Germany.

Exactly Jane. Unfortunately a small minority will always give the industry a bad name, however, as mentioned previously, you get the good and the bad in every profession.Take Shipman for example, I did not bleat that the whole NHS was incompetent after him.

Usually people's ignorance and lack of understanding of the economy/banking system and how the cogs turn is the cause of their bitterness.

Yes,my bonuses were always taxed at 50% in Lux + 10% social security contributions... Still, it always paid for a few "treats" !!!

Congratulations on becoming a Grandmother, is this the first Grandchild ?

In addition, the ladies in the Boston office would knit vast numbers of blankets in the run up to winter in every spare available moment to help the homeless keep warm.

Every month, in the Luxembourg office, we would have a fundraiser (in Luxembourg, every amount raised for charity is matched by the goverment).

Every Christmas, in most offices we would have a Christmas tree on every floor, not decorated with baubles, but with a name, age and list of "likes" by a child. We would all take a decoration, buy a present no limit on value and the gift would be then given to the child (the child may be located anywhere in the world).

Every year (I do not recall the month), we would all bring in bags of shopping to be distributed (usually at around a cost of 50 eur).

Every time there was a disaster (Haiti, Japan, Refugees etc) we would all go out to the local Pharmacies and pay full price (no ordanance, no reduction) for huge bags of medical supplies, hygiene supplies etc.

Now had I and many others not been fortunate enough to work there, I would never have been able to afford all the above. Multiply those efforts by an employee base of 4,000 (the partners usually donating thousands) and I would have thought it would help in some minute way. In my opinion, (which has now been corrected thank you), I was of the belief, we were "putting something back".

His outlay on coke is a) a bad example, b) illegal. As I was saying, in his position he should act responsibly (ie. not bahave in that manner)

I agree Lucy, there is a huge difference between traders and private asset management companies. There is also a huge difference between firms which take a "long" as opposed to a "short" view.

Our daughter, at present on maternity leave, was working in the asset management company of a large insurance company. She was glad not to be there when the accountants came in and their "long" view was told to change.

Banking has and always will be necessary to international trade and with the separation of personal and business banking from investment divisions the public will have greater safeguards and the bonus issue will not affect them personally.

I also find it very strange that people are talking about taxing bankers' bonuses, as if they weren't already taxed!!!

Just briefly...It is my buisness if it is brought to my attention via news information.

Not sure why you mention "His outlay on coke" because it detracts from an image of responsabilty.

And politicians, public leaders, celebrities and high profile bankers are not in a position of being excempt from critism of their image.

Vast amounts of money actually seem to affect many people in a bad way.

The persuit of it rather dangerous.

To illustrate is possible but I will not venture in that direction.

We very clearly have different views.

I really do not think your tone is called for.

In fact, maybe you should research Brown Brothers Harriman a little further before making such uniformed and ignorant assumptions. BBH is a privately owned bank, that neither lends nor borrows money. In fact the Partner's are so prudent, they will not accept clients that wish to go short on a position, instead a Prime Broker is appointed. Their main revenue streams are Custodian, Treasury and private Asset Managemnet for the firms' securities/assets. The partners are so kind and decent, that during the meltdown, they forewent their salaries (I know, not vast sums as they take drawings) and put those into a pot for the staff. I am INCREDIBLY PROUD to have worked for them for ten years. Admittedly, before them, I did work for JPM and yes I left them due to their lack of social morals. Your outright bitterness towards bank staff appears to be derived from the very small minority who quite honestly, deserve to be stripped of every possession they own. They are lice. But as in every profession in the world, there are good and there are bad. Just as I have come accross bad teachers/doctors etc, I do not write them all off as pond life.

Well the restaurants I worked in certainly took on more staff when people were spending vast sums of money, I recall doing extra numerous shifts back then.Especially if 200K was being spent (actually we just had pricey weddings, nothing comparable to 200K) - excellent service as you would like your customers to return.

The Champagne house sold the champagne, someone has to buy it no ? So what if he bought their whole stock in one night. Not all taxi drivers and other people who provide joe public with some service do okay (personal experience, my step father had to give up his PSV license and sat his HGV, just to put enough food on the table as it paid more)

NI/Tax badly used ?

Personally I would say his outlay on Coke was far more unappropriate and in his position, he should be more of a role model for others.

Quite frankly, how other people spend their money is none of your business or mine. What next - will you start whining about the cost of all the celebrity/footballer/aristocratic weddings and every other excess in this world ?

So very sorry to have guessed that you were a banker.

Sorry as an ex restauranter....Extra staff needed...I doubt it. How many people in the group?

...NHI/tax badly used...Taxi drivers manage ok.

Champagne house gets very little extra...THE CHAPAGNE was purchased some time prior to the

party arriving

Thank you for replying.

Extra staff needed (more income tax/NI contributions), more Champagne ordered for said evening, good for the Champagne House, taxi drivers etc, etc... So no, I do not believe that drains the blood from many people en route. My niece who is currently at University depends on evenings such as those to support herself through it.

One of my best friends is head of Marketing for a "reputable" charity. For some (Okay, I admit I am referring to an incredibly small minority here), only 12.5% of the funds raised actually reaches the cause she was telling me. Which can be rather off putting, when you think, will I have a good time on a 200K bonus/salary increase (whatever), or will I donate it somewhere, where some of the officials are corrupt and I am going to indirectly fund some arms buying ? I know which one I would choose. Alternatively, he could have invested it all in some renewable energy funds or such like and been sensible. At least he did not buy a second home with it. Also, I am not sure (but will find out) just how much charitable donations his bank actually make, I imagine they will be rather substantial.

I am an ex banker. When I resigned my position, instead of walking away with a nice gift, all cash raised went to GOSH. Yes, my husband is still employed in the industry.