Word: putin
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...going to sit here and psychoanalyze the man.' GEORGE W. BUSH, on his initial meeting with Russian President Dmitri Medvedev; after first meeting Medvedev's predecessor, Vladimir Putin, Bush said he came away with a "sense of his soul...
...barrel of oil fetched about $30, BP made what was then the largest ever foreign investment in a Russian firm. The British company paid more than $6 billion for a 50% stake in TNK-BP, an oil outfit it set up with a consortium of four Russian billionaires. Vladimir Putin, Russia's President at the time, joined Tony Blair, then Britain's Prime Minister, in cheering the joint venture. TNK-BP's CEO, Robert Dudley, hailed it as a "momentous and exciting event" that would "set new benchmarks in the Russian oil and gas industry...
...looked set for a collision. Oil giants like BP are used to investing for the long term, knowing that patience is key in this capital-intensive business. AAR would like a faster return. Both sides might have done better, in fact, if one had taken overall control. Indeed, Putin recently recalled warning BP in 2003 to "agree to one of you having a controlling stake" in order to avoid "frictions over who is the boss...
This deal, which created Russia's third-largest oil firm, still has the leaders of both countries talking. But their tone has changed. When current U.K. Prime Minister Gordon Brown brought up TNK-BP with Dmitri Medvedev, Putin's successor, on the sidelines of the G-8 summit on July 7, the uneasy discussion was of a breakdown in relations between the British and Russian partners. Meanwhile, Dudley, the company's BP-appointed boss, is battling to keep his job. In Moscow that same day, AAR, the Russian consortium that controls 50% of TNK-BP, called for his dismissal, claiming...
...comes to picking vice-presidential nominees, only two people on the planet get a vote: John McCain and Barack Obama. Between an explosion of democracy in the spring and an even bigger explosion of self-determination in the fall is a brief interlude of, well, something that Vladimir Putin could probably live with...