This whole Ghosn thing...

"El Relámpago(LZone) - Humanity First!" (lightningzone) 11/19/2018 at 12:22 • Filed to: None

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“Show me a hero and I will write you a tragedy.”

jimz > El Relámpago(LZone) - Humanity First! 11/19/2018 at 12:42

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Y ou either die a hero or live long enough to see yourself become the villain.

Spamfeller Loves Nazi Clicks > El Relámpago(LZone) - Humanity First! 11/19/2018 at 12:49

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Yeah, it’s probably safe to start carving MMC’s headstone here.

A serious breach of trust and ethics like this is a very big deal in Japan, unlike the US where he’d be hired as a consultant or CEO before the end of December. Case in point, they actually perp walked him .

And they’re not going to just accept Nissan’s “we’re very sorry, we’re trying to remove him from the board now” excuses either. These two engaged in fraud as officers of the company, under the company’s auditing controls. France owns a significant stake in Renault, so they won’t be on the chopping block, but they’ll be taking a pound of flesh for sure.

Nissan’s strong enough financially to stand on their own, but MMC isn’t. And he was the chairman of MMC. Which means MMC is now also under investigation, looking for the exact same thing. And chances are if he was ballsy enough to do it as a foreign national at Nissan, he did the same shit at MMC. Who is just coming off a major scandal in Japan. And Mitsubishi Heavy Industries (the conglomerate) owns less than 20% of the company now.

If they find the same shit at MMC? That’s a governance failure which the company is liable for, on top of Ghosn’s personal liability.

vondon302 > El Relámpago(LZone) - Humanity First! 11/19/2018 at 12:59

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This is starting to read like a palace coup d’etat.

farscythe - makin da cawfee! > jimz 11/19/2018 at 12:59

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you dont build the idx nismo you deserve whatever happens to you

*grumbling intensifies*

Spamfeller Loves Nazi Clicks > vondon302 11/19/2018 at 13:43

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It’s really not. Ghosn never had meaningful power in the first place. (Look up the ‘Olympus scandal’ to see what really goes on with gaijins.)

Not only that, but Nissan and MMC are already embroiled in major scandals. MMC’s fuel mileage scandal is a blip on the radar compared to the halt of production at Nissan over uncertified safety inspections of customer vehicles, followed by an admission in July that they falsified emissions and fuel economy tests on a massive scale.

So yeah, Nissan is desperate to dump him from everything because he’s an embarrassment. But the fact is he had to have had help, and the ministry knows it. And while he’s personally liable for the failure to disclose? The charges are specifically that Ghosn’s signature is on documents submitted by Nissan to the Tokyo Stock Exchange which contained false information . He has been charged with financial misconduct as an officer of Nissan , and it is alleged that Nissan allowed this to happen .

So yes, the Tokyo prosecutor’s office is going for Ghosn first. But the Ministries are going to eviscerate Nissan and MMC for the corporate governance failings. Nissan is throwing him under the PR bus with the personal use of company assets line to try and save themselves.

There is going to be a TON of arrests and investigations at Nissan, auditors, and accountants. Plus MMC and Renault as well as a direct result. But you will probably hear very little of it because it is highly embarrassing and damaging to Japan’s national image.

vondon302 > vondon302 11/19/2018 at 13:54

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If he was Japanese I’d agree with you. Somebody inside blew the whistle on him.

Either way it's gonna get ugly.