Alexei Mordashov Quotes


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The practice worked fine in the Automobile industry, until there was intense competition from imported cars, and price increases were not easy to sustain and keep market share at the same time. When the automobile executives made some bad decisions, there was great conflict with the Unions who argued that it was the management that made the big mistakes and therefore the workers should not have to reduce their remuneration, and the automobile companies were caught in a death spiral where there costs were too high for the cars they made, the quality had slipped in an effort to save costs, and they did not make the smaller, low gas mileage cars that were in demand. The industry would have failed completely had it not been for the George W. Bush and Barack Obama administrations working together to bail out the American auto companies to the distress of many conservative ideologues in and out of Congress. See {637913} for a classic right wing ideological response to bailouts earlier.


Alexei Mordashov
Alexei Mordashov
  • Born: September 26, 1965
  • Nationality: Russian
  • Profession: Businessman

Alexey Alexandrovich Mordashov is a Russian billionaire businessman. He is the main shareholder and chairman of Severstal, a Russian conglomerate with interests in metal, energy and mining companies. As of 9 April 2021, Bloomberg Billionaires Index estimated Mordashov as the Russia’s 4th richest person, with an estimated worth of US$25.8 billion.