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:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“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)