Economy
The textile industry is still the most prominent in modern Pavlovsky Posad. During the 1990s the major part of textile factories were transformed into public corporations, than considered to be bankrupt, and then bought for an understated price by local businessmen. The free float index for these factories is currently extremely low (about 90-95% shares of each factory are owned by one person).
After the dissolution of the Soviet Union, and to present, the textile industry is in a very bad state in Russia, since the competition with Asian countries was too sudden and to strong for them to survive. However, some of the factories survived by finding their narrow product niches. The most famous factory of Pavlovsky Posad - the 'Pavlovo-Posadskaya Manufactura' is still producing traditional Russian kerchiefs and shawls; and since it's the only shawl mass-producing factory in modern Russia, its financial state seem to be rather good. Some other factories survived by concentrating on fire-equipment (such as fire hoses), whereas some other are producing vestments for Orthodox priests.
The second important factory of Pavlovsky Posad - the 'Exciton', that produced Russian personal computers 'BK' in 1980s, is also formally alive, but it seem not to be concerned with electronics any more.
Read more about this topic: Pavlovsky Posad
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)