Economy
Viktor Yushchenko, the president of Ukraine since 2005, has accused his predecessor, Leonid Kuchma of selling off Kryvorizhstal to a political supporter for far below market value. This privatization was successfully challenged in court in 2005, and the same year the plant was re-privatized after an open bidding to the Dutch-Indian Mittal Steel for more than 5 times the initial value.
Read more about this topic: Kryvyi Rih
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
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“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
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“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)