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In Hard Times, Russia Moves In to Reclaim Private Industries

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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-07-08 11:42 PM
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In Hard Times, Russia Moves In to Reclaim Private Industries
BEREZNIKI, Russia In late October, one of Vladimir V. Putins top lieutenants abruptly summoned a billionaire mining oligarch to a private meeting. The official, Igor I. Sechin, had taken a sudden interest in a two-year-old accident at the oligarchs highly lucrative mining operations here in Russias industrial heartland.
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Kremlin Rules

James Hill for The New York Times

MOSCOWS MUSCLE Last month, the government assumed greater influence over Norilsk Nickel, the worlds biggest nickel producer, whose large shareholders, two billionaire oligarchs, have ailing finances.

Mr. Sechin, who is a leader of a shadowy Kremlin faction tied to the state security services, said he was ordering a new inquiry into the mishap, according to minutes of the meeting. With a deputy interior minister who investigates financial crime at his side, Mr. Sechin threatened crippling fines against the company, Uralkali.

Startled, the oligarch, Dmitri E. Rybolovlev, pointed out that the government had already examined the incident thoroughly and had cleared the company of responsibility.

He further sought to fend off the inquiry by saying he would pay for some of the damage to infrastructure from the accident, a mine collapse that injured no one but left a gaping sinkhole.

His offer was rebuffed, and it seemed clear why: the Kremlin was maneuvering to seize Uralkali outright.

http://www.nytimes.com/2008/12/08/world/europe/08kremli...
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msongs Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-07-08 11:43 PM
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1. Putin is the new Stalin in terms of total control (MAYBE a nicer guy) nt
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-07-08 11:50 PM
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2. He is one scary dude.
Bush had him all wrong.
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Speck Tater Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 12:00 AM
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3. The wheel turns, and they start off once again down the same old failed path.
It didn't work the first time around, and it won't work this time either. In the mean time, more people will suffer from their greed and incompetence.
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 12:07 AM
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4. In France, Sarkozy is also increasing the government's stake or
control over certain private sector employers. Face it, the U.S. is doing the same thing in its own way with these bail-outs and loans of private businesses. It is not surprising to me. Nations want to protect their economies, the jobs and well-being of their citizens and, above all, their tax revenues. The world economy and "free trade" could turn into something very different from what we have known in the recent past.
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pork medley Donating Member (262 posts) Send PM | Profile | Ignore Mon Dec-08-08 12:10 AM
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5. Planned economy > market economy
So... maybe this is a sign of better things to come for the Russian people :)
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