A lot is being parked in mobile palaces.
Just google image "megayachts" for a real treat.
Posted on 12/12/2011 2:34:17 AM PST by TigerLikesRooster
December 10, 2011
As Money Flees Russia, Tycoons Find Tough Times
By ANDREW E. KRAMER
MOSCOW
NIKOLAI MAKSIMOV, one of the richest men in Russia, was sitting in a grimy jail cell in the Ural Mountains.
Through the murk, Mr. Maksimov saw his cellmate — a man, he says, who appeared ill with tuberculosis, a scourge in Russian prisons. “I had the feeling that I was put in this cell on purpose,” Mr. Maksimov, now free on bail, recalled recently.
Mr. Maksimov, who was arrested in February on suspicion of embezzling hundreds of millions of dollars, is hardly the only Russian tycoon who has run into trouble. Among the six men who have topped the Forbes rich list here in the last decade, one, Mikhail B. Khodorkovsky, is in prison, and another, Boris A. Berezovsky, is in exile. They, like Mr. Maksimov, maintain their innocence.
Even before the authorities here acted last week to quash protests against the government and Prime Minister Vladimir V. Putin, Russia’s rich were growing agitated, too. Evidence is mounting that conditions are deteriorating for the maintenance and investment of their vast wealth — and while this development may gladden populists, it may become an economic threat.
(Excerpt) Read more at nytimes.com ...
P!
Brazil and Argentina.
Real estate tends to be the safer of ways to park money in times like this. You buy buildings, property, malls, hotels, etc. I wouldn’t be surprised if someone bundles up a thousand empty houses in Vegas, and some Russian guy buys the bundle, then rents them out for consumers.
Good to see yet one more place where BOs foreign relation skills are helping smooth things out. /s
They also know how to collect money from delinquent tenants. Comes in handy when you rent rooms in tough economical times.
A lot is being parked in mobile palaces.
Just google image "megayachts" for a real treat.
To me it sounds like he is a criminal. It is coming from a description of operations related to his deal with Lisin.
Khodorkovsky was a criminal too, he applied to European court which is extremely biased against Russia and still ruled national sentence for Khodorkovsky as legal.
Berezovsky is a criminal as well, he is wanted by more than one nation. He has strong ties with islamic extremists. Even Soros who once was a big friend of these guys were scared to death as he learned the way they do business. He had run away from Russia not only because Putin didn’t like hike him.
Russia has a lot of problems to solve considering investment climate but none of them are in this misleading article.
This article isn’t misleading. Russia is and always has been a place where the state manages business interests for the private, personal benefit of the powerful, ruling elite. Nothing’s changed and that’s the problem for Russia. Had Putin really cleaned up and created a positive legal environment, Russia could have attracted capital, diversified economically and freed. But, Russia has a long history of enslavement. That’s hard to overcome.
The real problem is they are overregulated and it is improving too slowly.
In 90s Russian business had a burden of classic criminal mafia which was effectively defeated by law enforcement agencies who hasn’t used their victory to establish a rule of law, but took the position of mafia and started along with federal and state level regularors to offer overlooking priveledges for a businesses who had hard time abiding all the complicated rules.
At the end, their clients got numerous advantages ignoring the law but ended up violating numerous regulations, some of them to the point of crime with all the information at hands of their patrons. As soon as they aren’t eager to pay a longer bills, this info becomes official and they are going to jail.
That is a true reason behind these robber barons’ grief.
There are an examples of businesses who aren’t playing a fish in a fishing game rejecting any corrupted schemes from crooked gubmint employees and doing just well in Russia. Ask Ikea, Auchan, Ford etc.
The real problem is they are overregulated and it is improving too slowly.
In 90s Russian business had a burden of classic criminal mafia which was effectively defeated by law enforcement agencies who hasn’t used their victory to establish a rule of law, but took the position of mafia and started along with federal and state level regularors to offer overlooking priveledges for a businesses who had hard time abiding all the complicated rules.
At the end, their clients got numerous advantages ignoring the law but ended up violating numerous regulations, some of them to the point of crime with all the information at hands of their patrons. As soon as they aren’t eager to pay a longer bills, this info becomes official and they are going to jail.
That is a true reason behind these robber barons’ grief.
There are an examples of businesses who aren’t playing a fish in a fishing game rejecting any corrupted schemes from crooked gubmint employees and doing just well in Russia. Ask Ikea, Auchan, Ford etc.
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