Last but not least: UBS home ownership dream, revised
UBS was one of the main topics in the Sunday press over the weekend. The most striking contribution came from an unnamed UBS employee.
Due to UBS's losses running into billions in the wake of the US mortgage crisis, the major Swiss bank was dragged through all the Sunday newspapers last weekend. In the Sonntagszeitung, a graph showing the collapse in the value of UBS shares ("In free fall") since the beginning of June could be marveled at, in the NZZ am Sonntag the expected considerable tax losses due to the losses of UBS and CS were even the main topic of the issue (cover story page 1) and the Sonntagsblick criticized the information policy of Ospel and Rohner ("Bosses go underground"). The Sonntag newspaper, in which the topic was also prominently covered, also featured what could be described as an updated image advertisement for UBS. According to Sonntag, a UBS employee with a slight penchant for black humor acted as creative director. The result, see the picture opposite, is short and to the point. It brings to mind claims from UBS mortgage advertising such as: "Relaxed into the future. With a mortgage from UBS." Or maybe not.
