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Exactly. Never mind the fact that the odds of the US intentionally ceding one of its bases of operation in the Pacific to China without a fight are slim to none. I say intentionally since the Cheetoh-in-Chief is doing a great job of unintentionally crapping all over the US-South Korea alliance.
If China tried to take Japan it would mean WW3, quite literally.
 

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All of that would make sense, except by all accounts Ghosn's ego was second only to Marchionne's in the industry. He really though the could do no wrong and had no constraints on his actions.
Being CEO of a company doesn't mean you're the dictator of a nation though. Every company is supposed to have clear division of power in terms of who can do what. The CEO isn't given the checkbook; finances are run by other executives. Key decisions are supposed to be approved by the board of directors, and various things have to be reviewed and audited by outside companies. We already know Nissan had outside auditors because they were among the first ones mentioned in this whole mess. The notion that Ghosn could do these things all on his own is absurd and if it were true, it would mean that the whole board of directors needs to be prosecuted as well for misconduct and every member of their audit teams, finance organization, and possibly outside auditors held responsible as well because everyone should have known and been involved with anything to do with the things mentioned in the allegations.
 

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Being CEO of a company doesn't mean you're the dictator of a nation though. Every company is supposed to have clear division of power in terms of who can do what. The CEO isn't given the checkbook; finances are run by other executives. Key decisions are supposed to be approved by the board of directors, and various things have to be reviewed and audited by outside companies. We already know Nissan had outside auditors because they were among the first ones mentioned in this whole mess. The notion that Ghosn could do these things all on his own is absurd and if it were true, it would mean that the whole board of directors needs to be prosecuted as well for misconduct and every member of their audit teams, finance organization, and possibly outside auditors held responsible as well because everyone should have known and been involved with anything to do with the things mentioned in the allegations.
I understand that, but if he was signalling what he wanted and people went along with it, it's plausible that malfeasance did occur. I agree that this probably goes deeper than Ghosn.
 

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Discussion Starter #27
This just in: Carlos Ghosn's detention extended over fresh allegations

TOKYO — A Japanese court on Friday approved the detention of former Nissan Chairman Carlos Ghosn through April 14 after his latest arrest over financial misconduct allegations, a move that has raised questions among legal experts.

The former star executive was taken into custody Thursday over fresh allegations that $5 million sent by a Nissan Motor Co. subsidiary and meant for an Oman

Ghosn spent nearly four months in detention and was just released last month after meeting stringent bail conditions while he awaits trial over earlier allegations that he under-stated his compensation in financial documents, had Nissan shoulder his personal investment losses and made dubious payments to a Saudi businessman.

The Tokyo District Court on Friday approved the initial 10-day detention request from prosecutors, who can seek another 10-day extension before needing to file charges against Ghosn, release him or accuse him of fresh misconduct that needs investigating.


Stringing out a suspect's arrest for the full 20 days and then raising fresh accusations is common in Japan, where it is known as a "rearrest." Critics say it allows suspects to be grilled by the authorities, resulting in some signing confessions to crimes they never committed.

But it is rare for a suspect to receive bail and then be taken back into custody.

Ghosn, 65, was first arrested Nov. 19 and released March 6 on 1 billion yen ($8.9 million) bail, after two previous rearrests. He says he is innocent of all allegations.

Prosecutors argue the latest allegations are different from the previous ones, but his legal team says they are part of the same scenario of alleged wrongdoing.

In demanding the latest detention, prosecutors argued Ghosn may tamper with evidence related to the fresh allegations. Prosecutors had earlier fought against bail for Ghosn, a citizen of France, Brazil and Lebanon, arguing he was a flight risk.

Ghosn's lawyer Junichiro Hironaka pointed out prosecutors have already raided Ghosn's property and taken everything, leaving little to tamper with. He accused prosecutors of trying to silence Ghosn, who had tweeted he was planning a news conference next week to tell "the truth about what was happening."

Stephen Givens, an American who practices law in Japan, said the latest accusations are more serious than the previous charges because they imply Ghosn pocketed the money, while the earlier charges were technical offenses that didn't harm Nissan or lead to personal gain.

Nevertheless, Givens noted there were no grounds for detaining Ghosn again, as he had already satisfied a court that he won't flee or tamper with evidence or witnesses.

Mark Levin, professor of law at the University of Hawaii, said he was worried about Japan's international image, noting the nation's appeal with future global business talent may suffer.

The arrest "has the plain look of an attempt to muzzle his ability to present his case to the public," he said.

Ghosn's case and the extended detention without a conviction are drawing scrutiny to Japan's criminal justice system, long criticized as "hostage justice."

Legal experts say Ghosn's previous release on bail came quickly, and many defendants endure months, in extreme cases more than a year, incarcerated while they await trial.

Ghosn, who had led Nissan for two decades before his downfall, said he wasn't giving up.

"I will not be broken. I am innocent of the groundless charges and accusations against me," he said in a statement Thursday.
https://www.autoblog.com/2019/04/05/carlos-ghosn-jail-extended/
 

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Ghosn's thieving ways finally caught up with him and AZGolf is getting ornery over it. Ghosn thought he was emperor of Japan until the Japanese reminded him of his place on the totem pole. Let this be a lesson for everyone: People will tolerate your transgressions, but that doesn't mean they've forgotten them. Eventually, arrogance and confidence will be your downfall and all those skeletons will come to light.

As for how this makes Japan Inc. looks, I don't think anyone even cares. Those that want to hitch their wagon to a false god are more than welcome to, but it says more about them than it does about an entire country. Memento homo.
 

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Discussion Starter #30 (Edited)
This just in:

TOKYO/PARIS (Reuters) - The wife of former Nissan boss Carlos Ghosn has left Japan and flown to Paris to appeal to the French government to do more to help him.


Carole Ghosn, wife of former Renault/Nissan Executive seen here in press photo.

Japanese prosecutors arrested Ghosn for a fourth time on Thursday on suspicion he had tried to enrich himself at the automaker’s expense, in another dramatic twist that his lawyers said was an attempt to muzzle him.

“I think the French government should do more for him. I don’t think he’s had enough support and he’s calling for assistance. As a French citizen, it should be a right,” Carole Ghosn told the Financial Times in an interview before boarding a flight out of Japan late on Friday.

Carlos Ghosn, who holds French, Lebanese and Brazilian citizenship, has denied charges against him and also called on the French government for help.

France, which holds a 15 percent stake in Nissan’s alliance partner Renault, said it was monitoring the situation.

“We fully exercise consular protection. The French ambassador is in regular contact,” an official from French President Emmanuel Macron’s office said on Sunday.

“The wife of Carlos Ghosn has been received by the (Elysee) Secretary General during his (Ghosn) previous incarceration,” the official added.

“A DIFFERENT PERSON”
Carole Ghosn said her husband’s previous 108-day imprisonment had left him “a different person” and that normal life under bail conditions had been impossible.

Tokyo prosecutors, Ghosn’s lawyer and his spokesperson were not immediately available for comment.

Public broadcaster NHK said on Sunday that prosecutors suspected Ghosn siphoned off payments through a company where his wife is an executive to purchase a yacht and a boat.

The prosecutors asked her to meet them for voluntary questioning as an unsworn witness, but the request was turned down, which prompted them to ask judges to question her on their behalf, the broadcaster said.

Such a request gives judges the power to question on a mandatory basis witnesses who refuse to testify, according to NHK.

Ghosn’s lead lawyer, Junichiro Hironaka, said on Thursday prosecutors confiscated Ghosn’s mobile phone, documents, notebooks and diaries, along with his wife’s passport and mobile phone.

The FT said prosecutors had confiscated his wife’s Lebanese passport in a dawn raid on their apartment in central Tokyo on Thursday morning, but did not discover her U.S. passport.

“I’m all alone here. It’s traumatising what happened,” she was quoted as saying while awaiting her flight.

Under Japanese law, prosecutors will be able to hold Ghosn for up to 22 days without charging him. The fresh arrest opens up the possibility that he will be interrogated again without his lawyer present, as is the norm in Japan.

The additional charge would likely prolong Ghosn’s trial, which is expected to begin later this year, his lawyer has said, adding that loss of access to Ghosn’s trial-related documents could put his client at a disadvantage in fighting his case.

Ghosn faces charges of financial misconduct and aggravated breach of trust over allegedly failing to report around $82 million in salary and temporarily transferring personal financial losses on to Nissan’s books during the financial crisis.

Released on $9 million bail on March 6, the executive says he is the victim of a boardroom coup.

The scandal has rocked the global auto industry and shone a harsh light on Japan’s judicial system.
https://www.reuters.com/article/us-nissan-ghosn-france/wife-of-ex-nissan-boss-ghosn-appeals-to-french-government-for-help-idUSKCN1RJ017
 

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Being CEO of a company doesn't mean you're the dictator of a nation though. Every company is supposed to have clear division of power in terms of who can do what. The CEO isn't given the checkbook; finances are run by other executives. Key decisions are supposed to be approved by the board of directors, and various things have to be reviewed and audited by outside companies. We already know Nissan had outside auditors because they were among the first ones mentioned in this whole mess. The notion that Ghosn could do these things all on his own is absurd and if it were true, it would mean that the whole board of directors needs to be prosecuted as well for misconduct and every member of their audit teams, finance organization, and possibly outside auditors held responsible as well because everyone should have known and been involved with anything to do with the things mentioned in the allegations.
The problem with hindsight....

VW should have known about the emissions scandal.

OEMs should have known/validated various airbags/parts that failed after an obvious oversight in validation testing.

The issue with your POV is assuming:

Every Fortune 500 has the same process. This isn't true in the automotive industry from my experience. How Ford is structured is completely different than GM or FCA. Or VW.

I think also it's important to note the structure Carlos himself installed (i.e. process---the question is the push/pull of board vs. CEO--and every company that has been 'on the brink' has had to examine this infrastructure and determine:

What is good for our immediate (4Q) and foreseeable (24Q) future?

If your company generates profit (i.e. investor 'success'), then the processes installed leave little to question for some. Negligence? Perhaps. But to ignore Japanese corporate structure (i.e., deference to power which Ghosen clearly had see above) might do one a disservice if the point is to figure out what went wrong.

At the end of the day, we can say he had help (yes) or that there needs to be a lot more process regarding oversight (absolutely) but when you look at the factors above, and understand that the boards of some companies can be more involved/less deferred than others (GM) and those results for the consumer can be a mixed bag. You had a person with absolute say in process, and even how the board would vote (see above, again). In theory, this allows one to remove roadblocks to let the people you've hired do their jobs more effectively--but there can be issues with 'absolute' power. There is a lot to unpack here and with any situation, there are no 'hot take' answers or resolutions. All paths have their perspective pitfalls.:beer:

Edit: Independent auditors were hired after a whistleblower came forward.
 

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If China tried to take Japan it would mean WW3, quite literally.
No kidding. As if the US would just say "Sure, np, take Japan. We'll just pack-up the Third Fleet and go home. You can have Taiwan and South Korea too while we're at it". Lunacy.
Well, actually, China would take the everything south of Mongolia, and everything west until India. We would let them, as long as they turned the other cheek while we took Canada, Mexico, Central America, and South America. We'd also turn a blind eye to Russia taking everything in Europe except the islands and the Middle East. The Middle East would be allowed to "buy" Africa. And there's our new world order.
 

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VW should have known about the emissions scandal.

The issue with your POV is assuming:
Take a look at your own post and just look at VW. Who has been punished at VW? The whole company has been punished as well as tons of people from the top to the bottom. If Nissan has been playing games with finance then the whole company needs to be punished and every employee from top to bottom held accountable, just like VW. It's not my "point of view" problem, that's how laws work in real countries. You hold everyone guilty accountable, not just the foreigner with the wrong name and wrong nationality.
 

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Take a look at your own post and just look at VW. Who has been punished at VW? The whole company has been punished as well as tons of people from the top to the bottom. If Nissan has been playing games with finance then the whole company needs to be punished and every employee from top to bottom held accountable, just like VW. It's not my "point of view" problem, that's how laws work in real countries. You hold everyone guilty accountable, not just the foreigner with the wrong name and wrong nationality.
Again a possible issue with your POV: The people who have been brought to trial/fired have been under the guidance of the EPA/Justice department. The 'public' in that case want someone to 'pay'. So there were a string of firings. I don't remember designers and comms at VW people being 'punished' for the actions of others within the company. Problem with that approach: VW is still in labor court as some employees made to 'pay' have strong cases regarding wrongful termination. And that was with a set of clear, government mandated processes/expectations installed. And yet things still happened. That was the point. But now we pivot....

Again--quoting only a bit of my response is short sided-I'm not interested in being 'right' or 'wrong' in this discussion-just presenting the POV and biased/unbiased aside, a person given the authority to dictate and install process spanning almost an entire corporation can use that power for personal purposes. Maybe I'm missing something, but what does nationality have to do with anything here besides speculation? Can you point to a single time besides this one were a Nissan executive was arrested wrongfully in Japan? (i.e. we can have a basis for assuming behavior..)

And why are you ignoring the fact that there have been multiple people arrested in this case? :confused:

To ignore the internal culture here (installed by--you guessed it!) here is disingenuous. Internally, people are 'paying' in a way you referenced. But unlike VW, there is no need as of yet to publicize any personal moves (there were dozens more in VW that didn't make it to media) because of the differences in breaking environmental laws vs.miss using company resources, and subsequent media coverage/blowback/impact/legality on consumer perception etc. This is a far more complicated issue.
 

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Discussion Starter #35 (Edited)
Carlos Ghosn Releases Message: I’m Innocent But Worried About Nissan...


TOKYO (AP) — Nissan’s former Chairman Carlos Ghosn maintained his innocence in a video released by his legal team Tuesday and accused some executives at the Japanese automaker of a “conspiracy” that led to his arrest on financial misconduct allegations.

“The first message is that I’m innocent,” said Ghosn, wearing a white shirt and dark jacket and speaking calmly in the nearly 10-minute video shown at the Foreign Correspondents’ Club in Tokyo.

“This is a conspiracy,” he said. “This is not about specific events, this is not about, again, greed, this is not about dictatorship. This is about a plot. This is about conspiracy. This is about backstabbing.”

His lawyer Junichiro Hironaka said the video was prepared in case Ghosn was not able to speak at a news conference planned for Thursday. Ghosn was arrested last week while out on bail and remains at the Tokyo Detention Center.

Ghosn said the executives behind the conspiracy were motivated by what he called “selfish fears,” including what they saw as a merger with French alliance partner Renault SA. They mistook his leadership for greed and dictatorship, when he was the biggest defender of Nissan’s autonomy, Ghosn said.

He also said he was worried about Nissan, wondering whether those executives were really watching out for the company.

Hironaka said a section of the video in which Ghosn mentioned names was removed on his legal advice.

Nissan Motor Co., while declining to comment on the criminal case, has said an internal investigation has found that Ghosn falsified financial documents to under-report compensation, and that he used Nissan money for personal gain.

“Nissan’s internal investigation has uncovered substantial evidence of blatantly unethical conduct,” company spokesman Nicholas Maxfield said when asked for comment on Ghosn’s video. “The company’s focus remains on addressing weaknesses in governance that enabled this misconduct.”

Ghosn’s fourth arrest was on a fresh breach of trust allegation based on suspicion that payments from a Nissan subsidiary to an Oman dealership were diverted to a company effectively run by Ghosn.

On Monday, Nissan Motor Co. shareholders voted to oust Ghosn from its board and to approve the appointment of French alliance partner Renault SA’s Chairman Jean-Dominique Senard as Ghosn’s replacement.

Renault owns 43 percent of Nissan. Yokohama-based Nissan, which makes the Leaf electric car, March subcompact and Infiniti luxury models, was on the brink of bankruptcy when Renault sent Ghosn to turn it around two decades ago.

Ghosn stressed that he devoted 20 years to Nissan, and that he was worried about its future.

“I love Japan and I love Nissan,” he said in the video, adding that the company had achieved much under his leadership.

He appeared to be saying he was the best leader for Nissan, while those behind the alleged conspiracy were failing.

“It’s sad. For someone like me, it’s sickening,” he said.

Hironaka said he would appeal Ghosn’s latest detention and would appeal to the Supreme Court about his new arrest. Multiple arrests and prolonged detentions are routine in Japan’s criminal justice system, but an arrest after someone is released on bail is unusual.

Prosecutors say that the latest allegation is different, and that there is a risk that Ghosn may tamper with evidence. His defense team says the allegations are related, and authorities have already seized all the documents.

Ghosn’s detention following his latest arrest was approved through Sunday but could be extended.

Ghosn’s wife, Carole, who traveled to France after her husband’s latest arrest, said she was not afraid of being arrested herself “because I am innocent as my husband is innocent.”

She also said that her husband had not acted alone and that others at the company knew.

“With a company like that, one person alone can’t sign off. There are eight signatures on each paper,” she told France’s RTL radio. “I know he is innocent, and I ask that he be given the presumption of innocence as are all French citizens.”

The date of Ghosn’s trial has not been set.
https://www.apnews.com/529fea79c72c48529e5f646bcd17efbe

 

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Discussion Starter #36
Dis gon' b GUD.

Carlos Ghosn's wife appeals to President Trump to help her husband:

The wife of former Nissan boss Carlos Ghosn has appealed to Donald Trump for help and rejected suggestions that she was implicated in her husband’s alleged financial crimes.

Ghosn, once one of the most powerful figures in the global car industry, is awaiting trial in Japan over allegations he under-reported his salary and transferred personal investment losses to Nissan.

His Beirut-born wife told the BBC in an interview she hoped the US president would raise her husband’s treatment with Japan’s prime minister, Shinzō Abe, at a G20 world leaders summit in Tokyo later this month.

Carole Ghosn said: “I’d like President Trump to speak to Prime Minister Abe about fair trial conditions, to let me speak to my husband and also to respect his presumption of innocence until proven guilty.”

Ghosn, who has French, Brazilian and Lebanese nationality, was first arrested in November and later released before being rearrested several times over new allegations. He has also been accused of causing Nissan $5m (£4m) in losses by channelling cash from a discretionary company fund into a firm run by his wife, which was used to buy a luxury yacht.

Prosecutors seized Carole Ghosn’s Lebanese passport during a raid of the couple’s Tokyo apartment in early April but failed to find her US one, she said. She flew to France to seek support for her husband from the French government, and then to the US to appeal to Trump. She also plans to ask Brazil’s president, Jair Bolsonaro, for help.

Ghosn is currently on bail but has to stay in a small court-appointed apartment in central Tokyo fitted with a camera to monitor his movements, and has to obtain permission from court to meet his wife. She told the BBC she had not spoken to him since early April.

Carole Ghosn was questioned but not charged in a closed hearing at a Tokyo court earlier this year. She said the motive was “to drag me into the story to weaken Carlos – and to shut me up”.

She told the BBC: “I’m a housewife who raised three children, and they’re making me sound like this conniving woman.”

She added: “The lawyers told me that anything I say could hurt him in the trial, so to keep my mouth shut. But I want my husband back. I want him with me. I know he is innocent.”


Nissan moved against him because he was planning a Renault takeover of the Japanese carmaker, she said. “It was a conspiracy to get rid of him,” she claimed, adding: “Everything could have been dealt with internally.”
https://www.theguardian.com/business/2019/jun/17/carlos-ghosn-wife-trump-carole-ghosn-shinzo-abe-nissan
 

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I originally thought Ghosn may have done something shady, but as soon as I saw Japan's METI (formerly MITI) was involved, I became immediately skeptical.
 
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