Carlos Ghosn arrested

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Ghosn reported to have received payment of seven million from JV.

Ousted Renault-Nissan alliance chairman Carlos Ghosn was paid 7 million euros ($8 million) through a Dutch joint venture between Nissan and Mitsubishi, French financial daily Les Echos reported on its website on Sunday.

Les Echos said that Nissan and Mitsubishi in June 2017 set up joint venture Nissan Mitsubishi BV (NMBV) in the Netherlands to pay bonuses to staff and managers of the two carmakers.

The JV's top directors were not initially supposed to receive bonuses from the unit but in February 2018 -- and without the knowledge of other directors -- Ghosn was hired as an employee by the unit, which made him eligible for payments, the paper reported.
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https://www.reuters.com/article/us-...n-euros-from-dutch-jv-les-echos-idUSKCN1P70SY
 
Nikkei journalists seem adamant this is a coup.

Ghosn reportedly formed a "private team" of major American bankers and others to quietly work out an integration scenario. At a Nissan board meeting last September, he said only that he would like to advance the alliance.

But a veteran Japanese executive feared that Ghosn would advance his plan for management integration on his next visit to Japan, warning that Nissan would be absorbed by Renault unless it took countermeasures.

Suspicions grew stronger last spring of Ghosn having designs on Nissan. A top-secret team set up by Nissan began working to topple him in cooperation with the special investigation squad of the Tokyo District Public Prosecutor's Office. On Nov. 19, prosecutors arrested Ghosn upon his arrival at Tokyo's Haneda Airport.
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https://asia.nikkei.com/Business/Ni...ance-sinks-deeper-into-disarray-without-Ghosn
 
When I was in the Marine Corps stationed to Okinawa, you spent the first couple of days in a 'casual' company while they sorted out where you would go. Supervised by the CID (Criminal Investigation Division,) they also screened you for drugs or other contraband. One young Marine arrived and started showing off his weed ... so the CID called the Japanese authorities and off he went to Naha jail.

Japanese jails are not a nice place. The guards only speak Japanese and failure to obey resulted in corporal punishment. Of course once the young man was arrested by the Japanese, he was marked AWOL by the Marines. Between Japanese and Marine Corps justice, he had an unhappy introduction to Okinawa.

Later he showed up at the unit and due to his legal difficulties, assigned the functional equivalent of 'grass cutter' menial duties. But Okinawa was rife with STDs and he caught syphilis but failed to report to sick call until he came down with what looked like measles. Ordered to sick call, the Corps man began speaking a early Anglo-Saxon terms and gave himself a shot. Then he gave the young Marine a shot. Then everyone who had any contact with him had to report to sick call.

The point is Japan has a different opinion about those arrested for criminal behavior and tolerance for corporal punishment in their jails. So I can believe Ghosn in an unhappy place.

Bob Wilson
 
Nissan in no rush to fill chairman position.

Finding a successor to former Chairman Carlos Ghosn is not a pressing concern for Nissan Motor, President and CEO Hiroto Saikawa told French newspaper Les Echos in an exclusive interview posted online Monday.

Asked whether he himself could replace Ghosn, who was arrested in Japan this past November, Saikawa said choosing a new chairman is not an urgent matter.

Certain conditions must be met before the board can make a decision, he said.
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https://asia.nikkei.com/Business/Nissan-s-Ghosn-crisis/Replacing-Ghosn-not-urgent-Nissan-CEO-says
 
Renault is expected to announce its new leadership as early as Sunday, potentially dismissing Chairman and CEO Carlos Ghosn, who remains detained in Japan.

Deputy CEO Thierry Bollore, who is temporarily leading the automaker in Ghosn's absence, could be promoted to chief executive, while Michelin CEO Jean-Dominique Senard may be tapped as chairman, French newspaper Le Figaro reported Tuesday.

A competing report by Les Echos on Tuesday named Toyota MotorExecutive Vice President Didier Leroy as a possible choice for CEO.
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https://asia.nikkei.com/Business/Ni...lt-set-to-replace-Ghosn-as-detention-drags-on
 
https://www.reuters.com/article/us-...-board-to-review-ghosn-findings-idUSKCN1P8211

Saikawa extended an olive branch to Renault and its state shareholder, while also dismissing French speculation that the scandal had been engineered by Nissan to oust Ghosn and end Renault’s control.

“It’s absurd and I don’t understand how anyone can believe such a scenario for a second,” he said. “Look at the evidence; it’s serious.”
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Because rather the raise the hard questions with Ghosn to confirm the findings, you chickened out and went to prosecutors with "half baked" evidence.

If your evidence was solid they wouldn't have attempted to hold Ghosn in detention for 46 days on something so minor as incorrect disclosure of future income.

This really should have been dealt with internally.

1. Ghosn is this you future pay? Yes/no.

If yes, this has significant legal risk to you and the company and must be changed now. New documents prepared and signed that day. Then progress to the no solution.

If no, then you respond, the board is concerned about compensation and oversight. This must change and this is what we propose. If you do not agree or offer an agreeable alternative we will vote to have you removed.

All I'm saying is if it looks like chicken **** back stabbing internal politics and smells like it too, then it probably is.
 
The decision to refuse bail means the former Nissan boss faces the prospect of six months or more months in prison, according to his own lawyers.
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Six months to sit in jail before trial! And presumably being harshly browbeaten and interrogated on a daily basis for the entire time, and denied his medicines.

A older man who is apparently in ailing health, and losing weight, is being subjected to this harsh treatment. I find it appalling that no foreign embassy is pressuring Japan for his release.
(◣_◢)
 
gooki said:
Because rather the raise the hard questions with Ghosn to confirm the findings, you chickened out and went to prosecutors with "half baked" evidence.

If your evidence was solid they wouldn't have attempted to hold Ghosn in detention for 46 days on something so minor as incorrect disclosure of future income.
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That appears to sum up the situation fairly succinctly, at least if everything reported here is true.
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No. Keep things in context.

Nissan probably drew some activist type investors with an environmental bent and the same on the policy side.

1. Look at Renault its has a Dieselgate

2. Look at Tesla's products and results on EV

3. Look at Nissan's compliance level stuff.

4. Think about the financial impropriety

5. Think about how Nissan could now be rolled up in the Dieselgate type stuff despite genuine intentions.

6. Think about who would be blamed for this and quite probably rightly.

7. Think about the sense of betrayal.

8. Think about the disappointment on the part of the Japanese people. There should have been at least on environmentally conscious
automaker to carry things forward in the present decade and that should have been Nissan, but now all things considered it looks
like all that was sabotaged by the a fail most convincingly strategy.

9. Look at what is happening with the VW execs and look at where a German Judge recently asked about being able to prosecute politicians- something that I am in favor of. Some say this is dangerous because it shuts discourse or could quell speech but when we see politicians or executives taking bribes to do the wrong thing they need a hard criminal justice response or law means nothing. If the US President is bought off even by the closest ally or becomes an asset that should be it. Even allowing any kind of lying or missinformation by public officials should be criminal. Its time for true transparency which by the way is the only way we will keep our privacy. Organizational secrecy and privacy are antithetical and loss of privacy means loss of all rights and become property because with loss of privacy you lose your practical voice for fear of being taken out of context and the you lose your voice for lack of use and then you lose your rights as you lose the platform to every be heard to defend yourself. A business last and society first approach is what is needed.
 
101101 said:
No. Keep things in context.

Nissan probably drew some activist type investors with an environmental bent and the same on the policy side.
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Oh, you're not trying hard enough, 101101. I'm sure that with a bit of effort, you can work the Illuminati, the Men in Black, the Trilateral Commission, and the CIA into your conspiracy theory. No doubt they are using Orbital Mind Control Lasers to control the actions of the Nissan Board of Directors.
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gooki said:
French government pushing for Nissan/Renault merger.
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Color me confused. Are Renault and France just going to ignore the outrageous treatment of Ghosn here?

Or is there more going on behind the scenes than I realize? Here's a conspiracy theory: Nissan and Renault wanted to form a merger, but Ghosn was seen as an obstacle to that, so Nissan came up with this way of kicking him out, and Renault accepts that as "collateral damage" necessary for the merger to happen.

Hoping I'm wrong about that!
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