Photo: Michael Kremer
Akirov. 'We need good deals'
Photo: Michael Kremer
Leviev. 'Not worth anything now'
Photo: Israel Bardugo

Akirov: Leviev no longer worth anything

Alrov chairman adresses financial crisis during global markets conference, notes Russian-Israeli business tycoon severly hurt by it and warns of similiar crisis in future

Alrov Ltd. chairman Alfred Akirov said Monday during a conference on global markets, "I hope we've learned the right lessons from the crisis. We need to bear in mind that (Africa Israel Chairman) Lev Leviev has also been hurt from it – he used to be worth something once, but today he's worth nothing." 


Akirov added that a similar crisis could occur within 10 or 20 years due to people's "short memories."


The businessman also criticized real estate firms that took huge loans. "Whoever gave the firms uncontrolled loans is unable to get his money back now...Business should be handled correctly and with proper leverage."


Akirov noted that the crisis could benefit companies which act responsibly over a long period of time. He advised in favor of trading expensive loans for cheap ones, in light of steadily dropping interest rates and building costs.


"Good business is achieved before, during and after a crisis. What we need to do is make good deals," Akirov concluded.


פרסום ראשון: 11.03.09, 16:29
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