Briton Scales Heights of Olympus

[2triky]

http://www.reuters.com/article/2011/11/16/us-olympus-idUSTRE7AA4UE20111116

[legion]

Minebea responded by diluting his holding and taking him out of the game. That's the same kind of action Bulldog Sauce and Sapporo Beer were to take 20 years later against Steel Partners. Mind you, Steel Partners didn't lose all its battles. They changed the board at wig maker Aderans which meant the company dropped its poison pill defence. It was a pyrrhic victory, Steel Partners closed its Japan Fund a few months ago and sold up.

Steel Partners were dicks, so busy preaching at the Japanese that they completely failed to notice the crisis approaching. Bit them on the ass shortly after they managed to take control of Aderans.

[Yokohammer]

Steel Partners were dicks, so busy preaching at the Japanese that they completely failed to notice the crisis approaching.

They sure were. Couldn't even see the ground from the high-horse they were riding.

[GomiGirl]

[Dreamy_Peach]

The FT are reporting that Woodford is to return to Japan to help police with their investigations.

http://www.ft.com/intl/cms/s/0/fd33f60c-10e7-11e1-a95c-00144feabdc0.html

I hope they don't arrest him for leaking secret corporate information... that would be funny.

[Greji]

The FT are reporting that Woodford is to return to Japan to help police with their investigations.

http://www.ft.com/intl/cms/s/0/fd33f60c-10e7-11e1-a95c-00144feabdc0.html

I hope they don't arrest him for leaking secret corporate information... that would be funny.

That is not impossible, but some exec from Olympus would have to file the complaint with the Police first and I couldn't see any of them wanting to stick their head up (as the Japanese say) at the present time, even if it mean doing the guy on top of the Olympus most wanted list....

[Coligny]

tsss... he will be busted for a parking violashiun...

[Russell]

tsss... he will be busted for a parking violashiun...

At the very least he will receive the honor of being the first to be fingerprinted in this criminal investigation...

[Russell]

[Russell]

[damn name]

[matsuki]

Is it just me or every month is there news that seem like the beginning of the end of Japan? No telling who will be next after Olympus...but if I was holding stock in any major Japanese company that could have done the same thing, I would be selling the stock off now and waiting for that investigation to begin...

[Taro Toporific]

Is it just me or every month is there news that seem like the beginning of the end of Japan? No telling who will be next after Olympus...but if I was holding stock in any major Japanese company that could have done the same thing, I would be selling the stock off now and waiting for that investigation to begin...

I have witnessed scams twice as bad Olympus' fuck-ups/scams at Hitachi and Mitsubishi. I cannot think of any major Japan company that is less guilty than Olympus.

[Coligny]

I have witnessed scams twice as bad Olympus' fuck-ups/scams at Hitachi and Mitsubishi. I cannot think of any major Japan company that is less guilty than Olympus.

NISSAN

(please... let me dream...)

[matsuki]

I have witnessed scams twice as bad Olympus' fuck-ups/scams at Hitachi and Mitsubishi. I cannot think of any major Japan company that is less guilty than Olympus.

And they just keep using the yaks to shovel more dirt over them?

It's like a giant balloon of shit, ready to explode....yet it keeps keeping more shit pumped into it

[Russell]

[matsuki]

I hope NTT doesn't fall on there, we don't get much sponsorship funds but every little bit counts!

[Coligny]

Is this list public or what?
Based on the reactions in this thread I could come up with:

1. Olympus
2. Mitsubishi
3. Hitachi
4. Tepco
5. Nothing to see here, move along.
6. your mom

Any additions?

ftfy

[legion]

And they just keep using the yaks to shovel more dirt over them?

It's like a giant balloon of shit, ready to explode....yet it keeps keeping more shit pumped into it

remember the bubble?

[matsuki]

remember the bubble?

Right...I should have used a bubble on a festering pile of shit analogy instead.

[Taro Toporific]

[SIZE="3"]
Fired Olympus CEO: WHY I WOULD KEEP CAMERA BUSINESS, as scandal escalates[/SIZE]
--Page One: Bover-up strikes at Japan's heart--
AmateurPhotographer.co.UK | Friday 18th November 2011
...'It's probably the biggest financial story of the 21st century, but it's [about] where it goes... It's not just about the company it's about Japan,' said Woodford in an exclusive hour-long interview...
...'This issue of corporate governance is the number one news story in Japan. It's touching all the principles about how Japan, as a society, functions,' added Woodford...
...speculation in the press that Olympus may sell off its camera business - retaining the much larger, more profitable, medical equipment arm.
'The camera business is stronger than it's been for several years but we have to see where Olympus's future goes,' he told AP.
'We have gone back into profit in the consumer business. I would keep it for the moment...
More...

[Catoneinutica]

The role the corporate yakuza plays in these shenanigans seems scarcely any scummier than that played by lawyers and lobbyists in the West. Did anyone get whacked? Meh. This really doesn't appear to be a bigger deal than the Tsutsumi to-do about ten years ago, and does anyone remember that? Japanese equities are "undervalued" for a reason; caveat emptor when the next tout tells you why you should be stocking up on Japan, Inc.

-catone
-in case Coligny is wondering why I made "your mom" cracks in the 'Nam Flashback thread, vide supra his post above. I liked it!

[Taro Toporific]

[Coligny]

Hey... at least looking like a complete secluded idiot is not illegal...

[Mike Oxlong]

[2triky]

http://blogs.wsj.com/japanrealtime/2011/11/25/live-blog-ex-olympus-ceo-woodford-speaks-out/

[matsuki]

D00d seems to carry himself pretty damn good. Called out typical BS cherry picked "reasoning" used attack him and was straight to the point about everything.

[Russell]

[sublight]

Reuters: Key figure in Olympus scandal found in Hong Kong

HONG KONG (Reuters) - Reuters found a Japanese banker who is a key figure in the Olympus Corp accounting scandal at a luxury apartment block in Hong Kong on Sunday, where he exploded in anger at finally being tracked down.

The whereabouts of the former PaineWebber banker had been unknown until Sunday. Nakagawa looked startled when a reporter introduced himself outside the building, located in a high-priced area near the financial district on Hong Kong island.

"Get out of here. Get out of here," Nakagawa yelled in English at the Reuters reporter who approached him. The banker, who appeared in his 60s and was with a middle-aged woman, was walking into the marbled foyer with some grocery bags.

"I don't want him here," Nakagawa said, turning to a concierge, when asked to answer questions about the scandal, which has brought the once venerable maker of endoscopes and cameras to its knees.

[Russell]