Denis on Russia

Denis told the club that Russian professors are knowledgeable but have no experience running a business. "They have little understanding of profit or even cost control and that's because for 70 years of Communism they didn't concern themselves with cost or marketing."

He says the Russian manufacturing infrastructure is inadequate and still underdeveloped. Roads are in "terrible" condition. Fifty-five per cent of their exports are oil and gas. Consumer goods are being developed but most are imported.

The top five per cent are making money and little is filtering down to the masses. "As you travel out from the center of these large cities, where the wealth is concentrated, you can see the deterioration of the Soviet Union from Stalin's era through to today."

Denis says it's important we work with the Russians to establish a rapport. About 15-20 Russians will be traveling here to experience the Canadian business environment in November. They will be attending seminars at Mohawk College on finance and insurance. He suggested our club host the delegation over a dinner to perhaps learn more about the emerging needs of this nation.