1cb7f8 (2)
1cb7f8 (2)
cd5fd3 (2) yes we know asswipe
e5a961 (1) Get a new theme..combo posting self
a85751 (1) Not MTV here
be7100 (1) thats nice now FO
e998ed (2) again with this shite?
e38f17 (1) total shill porno
3797b0 (1) go eat something please
shills
Oil caught a small bid upon opening last night on COMEX
Steady for now.
Cryptos not too bad considering the pain yesterday
Note that BCH is still the loss leader
Nissan crisis deepens as firm faces potential charges in Carlos Ghosn case
Nissan Motor Co. sank deeper into crisis Wednesday as it emerged the car giant could itself face charges over alleged financial misconduct that has already led to the stunning arrest of its chairman, Carlos Ghosn.
Monday’s arrest of the millionaire auto tycoon, who is credited with having turned Nissan around and formed the three-way alliance with Renault SA and Mitsubishi Motors Corp., sent shock waves through the global car sector and corporate Japan.
On Wednesday the Tokyo District Court ordered the 64-year-old Brazil-born Ghosn to be held for a further 10 days as prosecutors step up their investigation into alleged underreporting of his pay package, sources said.
Prosecutors initially had 48 hours after the arrests to either press formal charges, release him or request the 10-day custody extension.
The court also allowed prosecutors to extend the detention of Nissan Representative Director Greg Kelly, a close aide to Ghosn who was arrested the same day as the chairman, for the same period.
Ghosn is being held in a detention center in northern Tokyo in conditions far removed from his abundant lifestyle.
“In principle, he will be all alone in a cell,” said lawyer Ayano Kanezuka.
“There is everything you need — heating, a bed — but conditions are spartan,” said Kanezuka’s colleague Lionel Vincent, who added that there was likely to be an inner courtyard with bars.
Ghosn is suspected of omitting from the company’s annual securities reports more than ¥100,000,000 ($886,000) in annual remuneration from a Dutch-based subsidiary, according to the sources. Tokyo prosecutors allege the subsidiary played a pivotal role in the scandal. Although the amount is much smaller than had been indicated by sources a day earlier, Ghosn is also believed to have gained from compensation linked to stock prices.
The sources had said Tuesday that Nissan did not mention in the financial statements billions of yen Ghosn earned from stock appreciation rights — a system similar to stock options that gives bonuses to executives if the company’s share price rises above a certain level.
The amount of stock-related pay makes up much of the ¥5 billion in remuneration the prosecutors allege Ghosn understated in violation of the Financial Instruments and Exchange Law.
The stock rights were given to Nissan executives after the bonus system was approved at its shareholders meeting in June 2003.
The charismatic industry figure, who brought Nissan back from the brink of bankruptcy in the late 1990s, is also suspected of having used residences in Brazil, France, Lebanon and the Netherlands, purchased by the subsidiary and other entities, without paying rent or reporting that benefit as part of his compensation.
It is the view of the prosecutors that Ghosn’s alleged receipt of income from the subsidiary and the bonus system, as well as the housing benefits, should have been reported as part of his remuneration.
Believing that the Dutch-based subsidiary played a central role in the alleged misconduct, prosecutors are investigating how it was set up and the extent of the involvement of Kelly, according to the sources.
An executive in charge of legal affairs under Kelly was involved in the purchases of the overseas residences, according to the sources.
Nissan said Monday that Ghosn’s “significant acts of misconduct” such as “personal use of company assets” and Kelly’s “deep involvement” were uncovered following a monthslong internal probe, said to have been triggered by a whistleblower report.
In order to carry out the high-profile investigation, the prosecutors have struck a plea bargain agreement with that unnamed executive.
Kelly, 62, is believed to have instructed the executive and other officials to make false statements in the company’s securities reports.
Nissan’s board will decide on Thursday whether to remove Ghosn as chairman — a staggering reversal of fortune for the man credited with creating the three-way alliance which together sells more cars worldwide than any other automaker. Mitsubishi Motors is expected to decide next week whether to force Ghosn out.
His fate appears all but sealed after his hand-picked replacement as CEO, Hiroto Saikawa, launched an astonishing broadside at his mentor, saying “too much authority” had been placed in his hands and lamenting the “dark side of the Ghosn era.”
Saikawa pointedly refused to offer the deep “apology bow” that usually accompanies corporate scandals in Japan, and played down the role Ghosn had personally played in reviving the firm’s fortunes.
https://www.japantimes.co.jp/news/2018/11/21/business/corporate-business/nissan-crisis-deepens-charges-loom-ghosn-case/
Nissan/Renault corp structure
This really kicks the french in Le Balls, financially speaking.
This will trail back to them for sure and hit macron where he needs it.
This is asking to be shorted right about here
>What’s occurring on December 5th?
You were saying
Is this our previously announced author to speak?
Unless this shows up pic
Markets are going to roll over
The reason this is not a pic of BB is that the yen-carry trade has fueled much of the last 15 years of 'growth'.