As you may have already heard, there is a bit of buzz about a Russian steel company “Mechel”. Vladimir Putin who is currently a Russia’s prime minister had spoken at a meeting of Russia’s steel producers and had voiced his concern that “Mechel” kept selling steel to European customers for prices that were twice as cheap as the ones that it was using to sell steel to its customers within Russia (as a result the company got away from paying taxes to the government). In the video Putin was very displeased with the fact that the company’s CEO said he was sick and therefore didn’t show up to the meeting. As a result Putin had said in a very serious tone that the company’s CEO better get well soon, or “we will have to send a doctor to him, to take care of this problem”. He had also said that the Federal anti-monopoly department should look at Mechel shady deals. As a result of this company’s stock went down 30% on New York Stock market…
Leave a Reply