BLOOMBERG/ A. Katz, P. Robison
Bloomberg Markets Magazine
A long but fascinating read...on how Morgan Stanley strayed from traditional banking to buy 11 parcels of rich farmland in the Ukraine in 2006...to try and capitalize on predictions of a growing food shortage.
But it sold the land in 2009...at a big loss...after its hired hands found locals stealing fertilizer, insecticide and harvested wheat too.
The American (right) in charge also fought with tax, immigration, fire and police inspector and officials who even wanted him to build roads, not just till fields.
Concludes the reporters: "Morgan Stanley’s misadventure in Ukraine points up risks for current-day investors lured by statistics that may seem to paint agriculture as a no-brainer."
Popular Posts
- POLAND: Warsaw Lauds LOT Pilot Wrona For Safe Crash Landing.
- HONDURAS : 4 Nov. UPDATE: 176 Police Arrested For Corruption; Lobo Sacks His Top Cops...Sends Troops Into Sula, Tegucigalpa.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- ITALY / EUROZONE : New Greek Crisis Delays Berlusconi's Love Songs CD Release.
- USA : 07 May UPDATE: Famous Fat Cat Meow...Dies On Diet.
- PERU: Chaos Reigns In Lima's Streets With Unregulated Taxis And Ancient Buses.
- SERBIA / KOSOVO / EU : President Nikolic Talks Tough About Pristina.
- CHILE / CANADA : Court Suspends Barrick Gold Pascua Lama Mine Production.
- COLOMBIA: Corrupt Police Aided Bogota's Fake Torture Brothel.
- MEXICO : Zetas Founder/ Leader "Lucky" Hernandez Lechuga Captured In Veracruz.