Carlos Ghosn, the guy who basically saved Nissan was arrested in Japan for financial misconduct. Yikes.
Carlos Ghosn, the guy who basically saved Nissan was arrested in Japan for financial misconduct. Yikes.
I suspect "financial misconduct is just the tip of the iceberg. It's about time someone was brought to justice for the hideous cars that Nissan has been producing for years. I hope they throw the book at him.
Why do these people in positions of power think that they are above the law? If the accusations are true, I am glad that he got caught and will be prosecuted. Maybe that's where the money for an updated Z-car went?
To atone for the CEO's misdeeds, I herby decree that the new Alpine A110 shall come to the US to replace the 370z.
That is all.
Seriously though, why can't people in those positions just not be wankers? It's not that hard, especially when you have access to accountants and lawyers where you can say "I want to do X" and they can respond "Well you could, but it's patently illegal and will likely get you arrested when someone eventually finds out."
He couldn't have been arrested in a worse spot either. If the Japanese arrest you they're pretty freaking sure you did whatever they accused you of and their legal system isn't exactly a coin flip on if you're going to get off or not. The Japanese conviction rate is in excess of 99% and they're very hostile towards defendants.
I'm curious about the "misrepresenting salary" thing. It's not like a CEO is handling the "paychecks."
In reply to z31maniac :
BBC added the word "Package" to the charge.
He has been accused of "significant acts of misconduct", including under-reporting his pay package and personal use of company assets.
I suspect this is one of those creative accounting items where the CEO takes a $1 salary and the rest in stock options and dividends to leverage a lower capital gains tax. It's hard to speculate beyond that because I'm not familiar with Japanese tax law and it's reporting requirements.
1988RedT2 said:I suspect "financial misconduct is just the tip of the iceberg. It's about time someone was brought to justice for the hideous cars that Nissan has been producing for years. I hope they throw the book at him.
Padded rooms and straight jackets for everyone involved in this:
1. Don't eff with your taxes (I bet that's what the 'misrepresentation' is about) in Japan.
2. Time to buy Renault stock, down nearly 10% today on the news.
Of all the countries to pull financial shenanigans, the LAST place I'd try is in Japan. This is the place where railway CEOs apologize for trains running seconds off schedule. Wouldn't he realize that their version of the IRS would be that detail oriented, if not more?
The0retical said:In reply to z31maniac :
BBC added the word "Package" to the charge.
He has been accused of "significant acts of misconduct", including under-reporting his pay package and personal use of company assets.
I suspect this is one of those creative accounting items where the CEO takes a $1 salary and the rest in stock options and dividends to leverage a lower capital gains tax. It's hard to speculate beyond that because I'm not familiar with Japanese tax law and it's reporting requirements.
Gotcha, in the link above it said he was misrepresenting his salary by 50%. I was thinking if you say "I make $100k per year" but the person in HR sees you are making $200k per year, it shouldn't be that hard to figure out.
But you're right, my take is way too simplistic.
Serves him right for approving putting CVTs in pretty much everything they build.
1988RedT2 said:I suspect "financial misconduct is just the tip of the iceberg. It's about time someone was brought to justice for the hideous cars that Nissan has been producing for years. I hope they throw the book at him.
If building ugly cars were a crime, whomever designed the Aztek and "K" cars should still be in prison. I do, however, agree that the Juke and Murano convertible cry out for justice.
pinchvalve said:Why do these people in positions of power think that they are above the law? If the accusations are true, I am glad that he got caught and will be prosecuted. Maybe that's where the money for an updated Z-car went?
A large percentage of people who aspire to positions of power, do so in part because they believe it will allow them to be above the law. Or at least they don't care. Psychopathy is a trait that ends up being selected for.
z31maniac said:I'm curious about the "misrepresenting salary" thing. It's not like a CEO is handling the "paychecks."
That's what I was wondering. There had to be someone in accounting or HR or wherever who was assisting (or had been coerced into assisting) the coverup.
I think there is a much more cavalier attitude towards income tax compliance in Europe than there is Japan. He may have been doing perfectly normal thing for France.
Imagine if he were Italian or Greek...
Klayfish said:Serves him right for approving putting CVTs in pretty much everything they build.
Not just CVT's but TERRIBLE quality CVTs.
pinchvalve said:Why do these people in positions of power think that they are above the law?
Centuries of precedent?
Clowns. Dennis Kozlowski from Tyco handed himself $81 million of bonuses along with a bunch of crazy stories.
slefain said:Of all the countries to pull financial shenanigans, the LAST place I'd try is in Japan. This is the place where railway CEOs apologize for trains running seconds off schedule. Wouldn't he realize that their version of the IRS would be that detail oriented, if not more?
I spend some time in Japan for work. My German colleagues and I agreed that the Japanese are so German that they might be Swiss... Seriously interesting and amazingly different culture there.
You'll need to log in to post.
