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Putin Government Moves To Take Control of Russia's largest space company Energia

Posted by samzenpus on from the mine-now-I-take-it dept.

schwit1 writes Vitaly Lopota, the president of Russia's largest space company Energia, was suspended Friday by the company's board of directors. From the article: "The move appears to be part of an effort by Russia's government to obtain majority control over Energia, of which it owns a 38-percent share. The directors elected Igor Komarov as its new chairman of the board. Komarov is chief of the Russian United Rocket and Space Corporation (URSC), the government-owned company tasked with consolidating Russia's sprawling space sector." The government is also conducting a criminal investigation of Lopota, which might be justified but appears to be a power play designed to both eliminate him from the game as well as make sure everyone else tows the line so that URSC can take complete control.

4 of 252 comments (clear)

  1. Trillion-dollar boo-boo by Anonymous Coward · · Score: 4, Informative

    This sort of thing is why shares of russian companies trade at a huge discount compared to shares of western and asian companies.

    1. Re:Trillion-dollar boo-boo by Anonymous Coward · · Score: 3, Informative

      Russia's GDP is on a par with the that of countries like the UK, Germany and France - realistically it ought to be at least an order of magnitude above that.

      Russia's GDP is about half that of Germany, with almost twice the population. On a per capita basis it's less than half that of Germany or the UK.
      You're right that it ought to be considerably higher, but absolutely nowhere *near* an order of magnitude larger.

  2. Re:Response to sanctions by mjwx · · Score: 3, Informative

    They always one up whatever move you do and the only way to end the cold war was when the US stopped the race and started de-escalating the conflict and offer a treaty after a treaty, until finally Russia felt safe enough to let go.

    Erm...

    The cold war ended because the Soviet Union was broke and in disarray.

    Diplomacy was the only option left to Yetlsin. They couldn't feed an army, let alone civilians.

    As it will be with Putin or Putin's successor. Breadlines, not hard-lines with break them.

    --
    Calling someone a "hater" only means you can not rationally rebut their argument.
  3. Re:minutes to midnight by nospam007 · · Score: 3, Informative

    "No, we're already there. Name one thing the Russians did that the US Congress doesn't assume that it has the authority to do to a US company."

    Since those companies _own_ congress, they would do it to themselves.