Wall Street lifestyle, R.I.P.

Wall Street RIPA few weeks back, the day after Goldman Sachs and Morgan Stanley were granted emergency approval to become commercial banks, a private wealth manager & college fraternity brother said, "We’ve just witnessed the end of Wall Street as we know it." While I follow the financial markets closely, meltdown or not, I had not really grasped the fact there is very little of what we think of as "Wall Street" left. That conversation was on a Monday, and by that Sunday, I was opening the New York Times Sunday Business section to the giant headline, "Wall Street, RIP". 

With that thought having marinated in my head for a week, it really hit home this morning. Having worn most of my favorite suits last week, the only one I hadn’t worn in a while is my Wall Street baller suit — a Brioni three-piece navy pinstripe number. The fabric was the inspiration for our gift wrap, business cards, promotional postcards, and even the header atop our website. It begs for French cuffs, shiny cufflinks, a brash tie, and expensive shoes so I obliged.

But standing in line for a latte and croissant this morning at a local bakery, watching the Dow plunge 500 points on my iPhone, I felt like a total a$$hole. And I’m not even peripherally involved in this mess. Just wearing clothes evocative of the Wall Street lifestyle was enough to make me feel guilty. So what now? Do we remove the Wall Street lifestyle from our site? Rename it? Replace it with something new? We’d love to hear your thoughts!  

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Wingtip Founder & CEO, Ami Arad is the quintessential modern gentleman. He has distinctive taste, an eclectic style, and dresses for every occasion. Ami developed his vision for Wingtip at a young age; even back in high school where four years of speech and debate meant weekends wearing a coat and tie, he was in his element. Years of working in upscale men’s clothing stores and socializing in cigar shops, coupled with his entrepreneurial spirit, inspired Ami to develop Wingtip, a men’s specialty store and private social club.

One comment

  • I think it is premature to write the obituary on Wall Street or the Wall Street lifestyle and I think history bears that out. This is not the first plummet the American-or other economies-have experienced and ultimately survived. Certainly, things will be different. Just as the 1929 crash facilitated the formation of the SEC so too will this major crisis in the markets bring about new regulations and ways of doing business. But don’t delete the Wall Street Lifestyle from your site. Wall Street represents the free market economy and the courage, boldness, risk-tolerance and confidence that are essential to innovation and prosperity. Those characteristics in America and in many of her citizens are bruised, but certainly not deceased!

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