← Autodidact Archive · Original Dissent · Walter Yannis
Thread ID: 16084 | Posts: 9 | Started: 2004-12-25
2004-12-25 08:42 | User Profile
Merry Christmas everybody.
A Russian colleague suggested I check out the [URL=http://www.baikalfinance.ru/]webpage of Baikal Finance [/URL], the company that won the "auction" of Yukos's chief asset, Yuganskneftegaz.
NOTE: I'm assuming that this is for real and not a prank based on my colleague's affirmations only. I think it's for real, but take it with a grain of salt until there's some other confirmation.
NOTE ALSO: The media usually transliterate the name from the Russian as "Baikal Finans" but the webpage uses the English word "Finance."
BF appears to have been a pocket company of state-owned Russian oil major Rosneft (which a couple days after the auction bought BK). From a legal standpoint, the auction was a terrible travesty. There was only one bid of $9.3 billion - about half the actual value of Yugans - from this unknown, thinly capitalized company. What an obvious sham.
Everybody knows the thing was a joke, and the BK webpage is really playing up the sham aspect of the auction as a sort of finger in the eye to the Houston Oil Boys. They really give a big red razzberry to the whole world here.
Here's my translation of the "press release". The Russian is very colloquial, and it's not possible to give a completely literal translation. I take a couple of liberties in an attempt to capture its mocking flavor.
[QUOTE]"In short, here's what it is. We sorta transferred a sack full of all our stock to Rosneft. This sack wouldn't fit in either the attic or the basement, and so we agreed to keep it in the garage until, well, until they get around to counting it all up. So, for the time being, we'll be enlarging the attic with a european-standard renovation.
Now, don't go thinking that Baikal Finance Group is Rosneft. As a matter of fact, the long and the short of it is that as of now all of Rosneft is simply Baikal Finance Group. For real. You won't believe your eyes when you in fact see a Rosneft barrell with the label "Baikal Finance Group."
We say "Baikal Finance Group" but we really mean Rosneft. We say Rosneft, but we really mean "Baikal Finance Group." [/QUOTE]
I interrupt my translation to note that this last quote was a play on a much quoted, way over-the-top line in a poem by Soviet poet Mayakovsky (if memory serves): We say Lenin but we really mean the Party, we say the Party but we really mean Lenin!"
That's it approximately. But I don't claim to be the greatest translator in the world.
Anyway, here's my less-than-perfect translation of the rest of the "press release."
[QUOTE]We purchased Yuganskneftegaz, and that's just the way that is. Is that cool?
Yes it's cool!
Houston-shmuston. Yukos bites.
Who are we? We're just a bunch of regular guys. We'll reveal more later when necessary. But the main thing now is that the business will be in Russia an not in some offshore crap [company].
Our Headquarters are located at 126 Novotorzhskaya Street, City of Tver. The London cafeteria is located on the first floor of our corporate HQ, along with the liquour store Dinonis and the grocery store Volga.
Yuganskneftegaz will be located either in the basement or in the attic. We haven't yet decided exactly where yet.
Please send barrels of oil/stock/ideas to us at the above address. [/QUOTE]
I'll try to paste the Russian text below, we'll see if it works:
[QUOTE]Тут, короче, такие дела. Мы типа Роснефти отнесли мешок акций весь, какой был. Он ни на чердаке, ни в подвале не умещался. Договорились, что у них в гараже будет лежать, пока, ну, и, как бы, за ними так числиться. Мы пока будем чердак расширять, евроремонт там делать. Не надо думать, что теперь Байкал Финанс Груп -- это Роснефть. На самом деле, вся фишка в том, что вся Роснефть теперь -- это и есть чисто Байкал Финанс Груп. В натуре. Если на бочке с Роснефтью видишь надпись, Байкал Финанс Груп, конкретно -- не верь глазам своим.
Мы говорим Байкал Финанс Груп, подразумеваем Роснефть. Мы говорим Роснефть, подразумеваем Байкал Финанс Груп.
А мы купили Юганскнефтегаз! Во такие дела. Круто? Круто! Хьюстон-суюстон. Юкося-выкуси.
Кто мы такие? Нормальные ребята. Когда надо, скажем больше. Главное, что бизнес будет в России, а не во всякой оффшорной фигне.
Наша штаб-квартира находится в Твери, по адресу Новоторжская, 12б.
На первом этаже нашей штаб-квартиры - кафетерий Лондон, винно-водочный магазин Дионис, и продуктовый магазин Волга.
Юганскнефтегаз будет в подвале или на чердаке. Мы еще не решили, где именно.
Шлите нефть/акции/идеи бочками по адресу,
[/QUOTE]
2004-12-25 09:45 | User Profile
[URL=http://www.baikalfinance.ru/partners.html]Here[/URL] they talk about who they are. My translation:
[QUOTE]Well, what can a tell you, my child . . . . all the same you don't know these people anyway [speaking of themselves - Walter]. The main thing is that they have worked in the business sector, they now work in the business sector, and they will continue to work in this business. As well as in any other sectors as needed.[/QUOTE]
After the line "as needed" they paste a picture of a MIG firing a rocket.
Here's the Russian:
[QUOTE]Ну что тебе сказать, малыш... Ты все равно этих людей не знаешь. Главное, что они работали в сфере бизнеса. Работают в сфере бизнеса. И будут работать в этой сфере этого бизнеса. А также во всяких других сферах, каких надо. [/QUOTE]
2004-12-25 17:30 | User Profile
Anyone knows if this is a Jewish company? I mean after all, I don't think that the Jews would allowed anyone to take over THEIR oil company.
2004-12-25 18:42 | User Profile
[QUOTE=Ponce]Anyone knows if this is a Jewish company? I mean after all, I don't think that the Jews would allowed anyone to take over THEIR oil company.[/QUOTE]
No. In fact, probably quite the opposite. This is the ethnic Russian military-industrial-security complex and GAZPROM asserting control over a major strategic asset that the Jews stole in the 1990's under Yeltsin.
I'm all for them doing that, but I find their disdain for legalities in pursuit of that laudable goal disturbing.
Walter
2004-12-25 20:29 | User Profile
I don't care if the Mafia Cosa Nostra or the Yakusa or even Ponce takes over that oil company, as long as we keep it away from the Zionists.
I am glad that Putin learned that the Jews were stealing Russia blind and took it away form them.
2004-12-26 19:25 | User Profile
[QUOTE=Walter Yannis]No. In fact, probably quite the opposite. This is the ethnic Russian military-industrial-security complex and GAZPROM asserting control over a major strategic asset that the Jews stole in the 1990's under Yeltsin.
I'm all for them doing that, but I find their disdain for legalities in pursuit of that laudable goal disturbing.
Walter[/QUOTE]
I'm not convienced the sale of Yugans was entirely a sham. GAZPROM's German financial backers were forced to withdrawal their support after YUKOS was granted a restraining order by some idiotic federal judge. GAZPROM did have all 20 billion lined up. The auction was closed to foreign bidding, quite rightly too, and not many Russian companies had the financial strength to bid full price.
No. In fact, probably quite the opposite. This is the ethnic Russian military-industrial-security complex and GAZPROM asserting control over a major strategic asset that the Jews stole in the 1990's under Yeltsin.
The Russian government giveth and the Russian government taketh away. Not one mention in the press about the fraudulent nature of Khorodovsky's entire enterprise from its rise to its fall.
2004-12-27 06:58 | User Profile
[QUOTE=Oklahomaman]The Russian government giveth and the Russian government taketh away. Not one mention in the press about the fraudulent nature of Khorodovsky's entire enterprise from its rise to its fall.[/QUOTE]
All true, but the Russian government's actions here evince a terrible disdain for legal procedures and contempt for the rule of law.
If the decision was to re-nationalize Yukos, then there were a number of ways to proceed, including declaring the original sale of Yukos to Khodorkovsky's Menatep in a sham auction invalid. But they sat on their hands. Going the tax/bankruptcy route made some sense - the tax charges appear legally defensible. And while I think the charge of selective enforcement is certainly true, a scumbag like Khodorkovsky should not be heard to raise that as a defense. But they didn't stop at that. Instead of vindicating the rule of law in Russia, they gave their implicit blessing to the whole corrupt sham tender process that was used to rob the Russian people blind in the 1990s in the first place.
The Russians need rule of law, and not rule by whoever happens to appear to be the "right" group of outlaws at any given time. They just don't get it, and this "press release" where they basically moon the whole investing world is emblematic of that fact.
2004-12-28 18:08 | User Profile
[QUOTE=Walter Yannis]All true, but the Russian government's actions here evince a terrible disdain for legal procedures and contempt for the rule of law.[/QUOTE]
Since you're "troubled" by the Russian government's actions here, I gotta ask, Walter: are you hoping this will lead to financial meltdown/collapse for Russia the same way you are hoping for the dollar's crash and economic disaster here in the States?
In other words, I'm trying to see if your doomsday ethics that are good for the goose here are also good for the gander there. :)
2004-12-28 19:32 | User Profile
[QUOTE=Texas Dissident]Since you're "troubled" by the Russian government's actions here, I gotta ask, Walter: are you hoping this will lead to financial meltdown/collapse for Russia the same way you are hoping for the dollar's crash and economic disaster here in the States?
In other words, I'm trying to see if your doomsday ethics that are good for the goose here are also good for the gander there. :)[/QUOTE]
No. Russia isn't invading any foreign countries, at least last time I checked.
(Chechnya is both part of Russia and is was itself the aggressor, just to preempt the usual argument).
In hoping for the collapse of the American Empire, I'm the one applying equal measure for measure. The Soviet goose invaded Afghanistan and mercifully collapsed. I'm just hoping that the same fate befalls the American Imperial gander.
What could possibly be more objectively even handed than that?
So let me turn the question around on you: why don't you want the Empire to collapse? Is it not the enemy of all that we hold dear?