Which query we can answer with a resounding "Yes, Virginia, He exists as certainly as love and generosity and receivership exist..."
From the earlier-mentioned Barents Observer, Aug.21:
Santa Claus declared bankrupt
Russian visitors to Rovaniemi were big business. Not that much anymore.
Everyone has to pay taxes, even Santa Claus. This week, the district court of Lapland in Finland declared Dianordia, the company that runs Santa’s office on the Arctic Circle bankrupt.
The company has an outstanding tax debt of €206,000, reports Lapin Kansa.
Rovaniemi has over the last decades built big business by promoting itself as the hometown of Santa Claus. In Christmas seasons, charter planes from all over Europe crowd the local airport. Loads of tourists from Asia are flying in to make a selfie with Santa. And no secret, thousands of Russians from neighboring Kola Peninsula, Karelia and St. Petersburg region have boosted the Santa Claus businesses.
In the last two years, the numbers of Russian tourists have dropped dramatically, especially last winter due to the collapse of the Russian ruble....MOREPreviously in the Yes Virginia series:
Yes Virginia, Crocodiles Can Grow as Big as Trucks (and eat cows)
Yes Virginia There is a Santa Claus Rally
Yes Virginia, ETF's Are Where True Price Discovery Happens, Not in the Underlying (There IS a Santa Claus, there IS)
Yes Virginia Currency wars can be quite effective (at least for a while)
And many more.
Okay, it's probably safe to bring the kids back.
Show them the picture of the croc while making an offhand naughty/nice comment and...
