Bankers Flooding JPMorgan Event Bemoan San Francisco Squalor

Bloomberg

Hotel rates of $2,000 a night. Meeting-table rentals costing $150 an hour. Swank parties held steps from people bundled in sleeping bags on the street. Thousands of bankers and executives are descending on San Francisco this week for the JPMorgan Healthcare Conference, inundating the tech capital for days of schmoozing and dealmaking. With it comes the annual complaints about the city’s high prices, lack of space and street squalor. “It comes up with our members every year,” said Steve Ubl, chief executive officer of the Pharmaceutical Research and Manufacturers of America, which represents the world’s largest drugmakers. “It gets worse and worse in terms of concentration and cost. It’s outrageous.”

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