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@woffle
Before all the building work started and they were removed there was a motorbike and cycle rank thing outside our office in EC2. Never forget watching a white transit pulling up at 11am, three guys getting out the back armed with HUGE boltcroppers. Proceeded to liberate and then throw bikes in the back followed by a couple of very nice motorbikes (one guy at each end lifted straight into the van).
Took all of 2 minutes - someone in the office noticed and windows were opened and photos taken / abuse shouted. We got a two-fingered salute and they fecked off sharpish. Police were called, didn't catch anyone AFAIK and just turned up the day afterwards to take statements but with the amount of cameras etc in the City they could have tracked and stopped the feckers if they had the inclination.
We still get mopeds zipping around, numberplates taped over and one guy riding pillion carrying bolt-croppers and a screwdriver. Anything other than the biggest, heaviest lock they'll give it a go...
EDIT: does anyone know of a missing Specialized? The last couple of mornings crossing London Bridge about 6:15am there's a really scruffy looking guy riding what I think is an 2008 Allez - black with red and white, curvy stays etc. Just doesn't look 'right' - riding with crappy trainers on look spds, struggling with gear changes and aside from the fact he's on £2K+ of bike, generally it seems like he's not got the 1st idea.