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Russia Delivers a New Shock to Crimean Business: Forced Nationalization
Posted on 11/18/14 at 1:46 pm
Posted on 11/18/14 at 1:46 pm
BloombergBusinessWeek 11/18/14
quote:
From bakeries to shipyards, Crimea’s Kremlin-backed government is moving aggressively to take over businesses that it deems “inefficient,” strategically important, or friendly to the government in Kiev.
Recent laws enacted by the parliament have expanded the government’s right to foreclose” on private property, and, according to one of the new laws, to seize assets considered to have “particular social, cultural, or historical value.”
Such measures are turning Crimea into a “neo-Bolshevik criminal dictatorship,” Russian opposition party Yabloko said in a statement this week on its website. “The action to legitimize robbery must be cancelled, stolen property returned to owners, losses reimbursed.”
Posted on 11/18/14 at 1:48 pm to LSURussian
Good!
Well, not good in a moral sense. But good in a "you made your economy-crippling-bed now lie in it" kinda way.
Well, not good in a moral sense. But good in a "you made your economy-crippling-bed now lie in it" kinda way.
Posted on 11/18/14 at 1:49 pm to LSURussian
I for one am shocked at this entirely new and unprecedented development! I am completely surprised and left flabbergasted at this! Who could have ever guessed that Russia would do such a thing!?
Posted on 11/18/14 at 1:53 pm to BigJim
My first Russian administrative assistant when I worked in Moscow taught me something about Russia that applies in this case: "Nothing in Russia is as it seems."
I posted the Russian government's explanation for why they are nationalizing businesses in Crimea but using my assistant's hypothesis, what is the REAL reason the Russian government is nationalizing those businesses in Ukraine?? Anybody??
I posted the Russian government's explanation for why they are nationalizing businesses in Crimea but using my assistant's hypothesis, what is the REAL reason the Russian government is nationalizing those businesses in Ukraine?? Anybody??
Posted on 11/18/14 at 1:56 pm to BigJim
quote:Who made whose bed? The Crimean parliament was seized by force; the referendum was rigged. And the people who had their ballots ignored or miscounted are probably the same people getting "nationalized" now.
Good!
Well, not good in a moral sense. But good in a "you made your economy-crippling-bed now lie in it" kinda way.
This forum has a really big problem with the just world fallacy.
This post was edited on 11/18/14 at 1:58 pm
Posted on 11/18/14 at 1:59 pm to LSURussian
This should make Ralph_Wiggum very happy. Communism is making a come back!
Posted on 11/18/14 at 1:59 pm to LSURussian
Romney is such an a-hole.
Posted on 11/18/14 at 2:01 pm to Iosh
Yeah crimea really had no choice. They were essentially invaded while the world sat on its hands.
Posted on 11/18/14 at 2:11 pm to LSURussian
quote:Seems pretty straightforward to me: they have to get something out of the place. None of their plans for Crimea are panning out. The offshore oil plays aren't going to be worthwhile to develop until prices climb out of the shitter. Tourism isn't a hot seller since ordinary Russians can't afford the trip and Europeans don't want to go. Why not a little plunder? The assets are only going to keep appreciating against the ruble (heck, some of them probably have non-ruble liquid assets too).
I posted the Russian government's explanation for why they are nationalizing businesses in Crimea but using my assistant's hypothesis, what is the REAL reason the Russian government is nationalizing those businesses in Ukraine??
Posted on 11/18/14 at 2:12 pm to Cosmo
I don't think many of the Crimeans are Ukrainians. I think they are vast majority Russian. I think the original Crimeans were 'Turkmen' and have long since been bussed to the hinterlands.
Posted on 11/18/14 at 2:14 pm to LSURussian
Communists imposing communism. Shocker.
Posted on 11/18/14 at 2:14 pm to mauser
quote:LINK
I don't think many of the Crimeans are Ukrainians. I think they are vast majority Russian.
Crimea's last census was in 2001 and it had 60.4% Russians. Given that the 1989 census had 67% Russians it's entirely likely that by 2014 the Russians were a plurality, not a majority, since the Tatars only returned in earnest after the fall of Communism.
Posted on 11/18/14 at 2:22 pm to Iosh
I think you're really, really close to what the real reason is the Russians are taking over some of the businesses in Crimea.
With the Russian economy in a recession and maybe even in a depression, the Russian government is hurting for revenue. Taxes, paid in Russian rubles, of course, are likely coming in very slowly and when they do, the ruble has devalued so much so quickly that the taxes won't pay the government's obligations.
So in spite of the 'official' line that the businesses being taken over in Crimea are inefficient, they are probably some of the most efficiently run (by their standards) enterprises, having been owned and managed by either ethnic Ukrainians, Turkmen or Cossacks for 20+ years since the Soviet Union broke up.
Rather than being satisfied with collecting taxes on the profits of those businesses, by nationalizing them the government can keep ALL the profits to shore up its weakening revenue stream from taxes being collected.
The government won't put any of the profits back into the businesses so they will eventually fall apart, but in the meantime the Russian government has bought some time to get past the recession and international sanctions.
That's my story and I'm stickin' to it!
With the Russian economy in a recession and maybe even in a depression, the Russian government is hurting for revenue. Taxes, paid in Russian rubles, of course, are likely coming in very slowly and when they do, the ruble has devalued so much so quickly that the taxes won't pay the government's obligations.
So in spite of the 'official' line that the businesses being taken over in Crimea are inefficient, they are probably some of the most efficiently run (by their standards) enterprises, having been owned and managed by either ethnic Ukrainians, Turkmen or Cossacks for 20+ years since the Soviet Union broke up.
Rather than being satisfied with collecting taxes on the profits of those businesses, by nationalizing them the government can keep ALL the profits to shore up its weakening revenue stream from taxes being collected.
The government won't put any of the profits back into the businesses so they will eventually fall apart, but in the meantime the Russian government has bought some time to get past the recession and international sanctions.
That's my story and I'm stickin' to it!
Posted on 11/18/14 at 2:37 pm to LSURussian
quote:I doubt there is a single reason, but bankrupting the opposition, or potential opposition, is an obvious reason for seizing assets. This allows for the consolidation of power for those who have control over the assets. It also creates opportunities for patronage in the future by those who control the assets in addition to enhancing their personal wealth.
hypothesis, what is the REAL reason the Russian government is nationalizing those businesses in Ukraine??
There are likely cultural reasons as well. Replacing Ukrainian ownership with Russian ownership will confirm the pecking order of Russians being on top of Ukrainians.
Posted on 11/18/14 at 2:44 pm to Poodlebrain
You apparently didn't read the link I provided.
The reasons you gave coincide with the stated reasons in the article....punish the opposition, take away assets from supporters of the Kiev government, etc.
That means your reasons are too obvious and therefore do not fit the "In Russia nothing is as it seems" theory.
The reasons you gave coincide with the stated reasons in the article....punish the opposition, take away assets from supporters of the Kiev government, etc.
That means your reasons are too obvious and therefore do not fit the "In Russia nothing is as it seems" theory.
Posted on 11/18/14 at 2:44 pm to BigJim
quote:
Well, not good in a moral sense. But good in a "you made your economy-crippling-bed now lie in it" kinda way.
You think that vote was legit?!
Posted on 11/18/14 at 3:26 pm to LSURussian
I'll defer to Freud. Sometimes a cigar is just a cigar. I think the real reasons were as stated by the Russian authorities.
Posted on 11/18/14 at 3:35 pm to Poodlebrain
quote:I'm sure your experience working and living with Russians exceeds mine so I'll defer to your judgement.
I think the real reasons were as stated by the Russian authorities.
Posted on 11/18/14 at 4:00 pm to LSURussian
I've never claimed to have more experience dealing with Russians than you. I'm simply stating that sometimes you have to take things at face value. Why aren't the obvious reasons good enough? Are the intended results somehow insufficient to Russian objectives? What more important objective(s) do the Russians have?
Posted on 11/18/14 at 4:04 pm to Poodlebrain
You're arguing with yourself. I'm not going to participate. Thanks anyway.
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