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Nissan uncovers 'significant acts of misconduct' by chairman Carlos Ghosn

Old 11-19-2018, 09:13 AM
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Nissan uncovers 'significant acts of misconduct' by chairman Carlos Ghosn

https://www.cnn.com/2018/11/19/busin...ult/index.html

Interested in hearing what everyone's thoughts on this.
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Old 11-19-2018, 10:42 AM
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Super rich powerful people greedily stealing money because they think they can get away with it? I’m shocked!!

The biggest thieves are never the purse snatching drug-addicted mugger, but highly educated executives who already are paid more money than they could ever spend in multiple lifetimes and already have anything they could ever need or even want. Happens over and over and yet people keep being surprised by it. I’m not.



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Old 11-19-2018, 12:37 PM
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True. Happens time and time again. Curious to see if any real 'punishment' will be handed down. I won't hold my breath. While Ghosn is largely credited with pulling Nissan from the brink with his cost cutting measures, Nissan hasn't been able to capitalize and take themselves to the next level; despite having a conglomerate that makes them enormous compared to other manufacturers. Between Renault, Nissan and Mitsubishi, there isn't much to write home about in terms of what they're currently producing. Between dated Z and GTR platforms, Awkward platforms (Redsport), failed teaser models (Eau rouge concept, Black S), garbage CVTs, killing convertible models and the 6 MT - maybe a new chair will shake things up for the better. That's my hope anyway.
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Old 11-19-2018, 01:04 PM
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im shocked wow.
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Old 11-19-2018, 11:25 PM
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Here I thought it was gonna be another me-too thing lol. I never understand why the rich do things like this. They already have money so why? How greedy can one be if their already rich u kno? Makes no sense to me

didn't kno he was no longer CEO since 2017. I wonder how much of a role he has with infiniti since infiniti has their own CEO and hq in Hong kong.

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Old 11-20-2018, 12:01 AM
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Props to Nissan.
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Old 11-20-2018, 06:51 PM
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Ghosn was part of the Renault lifeline to Nissan back at the end of the 90's. Despite his legal problems today, it should be remembered that he brought Nissan back from the brink of financial disaster during the years that followed. The engineering talent was there, and he combined that with slashing production costs and upgrading the lineup. Infiniti was a part of that, and Ghosn's all-encompassing vision included resurrecting a lineup that (before he arrived) consisted of two cars and one SUV.

Ghosn's fabled career may come to an end due to this sordid chapter, but it should never be forgotten how much he did to bring Nissan (and Infiniti) back to profitability and sustainability.
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Old 11-20-2018, 06:54 PM
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hes actually considered a hero in japan by the japanese. i kinda dont think they really care that much about it tbh lol
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Old 11-20-2018, 09:50 PM
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Originally Posted by dkmura View Post
Ghosn was part of the Renault lifeline to Nissan back at the end of the 90's. Despite his legal problems today, it should be remembered that he brought Nissan back from the brink of financial disaster during the years that followed. The engineering talent was there, and he combined that with slashing production costs and upgrading the lineup. Infiniti was a part of that, and Ghosn's all-encompassing vision included resurrecting a lineup that (before he arrived) consisted of two cars and one SUV.

Ghosn's fabled career may come to an end due to this sordid chapter, but it should never be forgotten how much he did to bring Nissan (and Infiniti) back to profitability and sustainability.
yes exactly, that's why its so shocking, that he would be taking money behind Nissan's back like this, a company he ironically helped bring back from financial disaster. He saves company, then steals from it...kind of counter intuitive, although i dont know the whole story. I suppose a man of his resume would not have resorted to financial practices that are questionable. He may have believed that he deserved a pay raise, he should have brought it to the attention of the board up front, not behind the company's back.
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Old 11-20-2018, 10:07 PM
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^ he under reported his salary or something right?. so wouldnt this be tax related crime meaning he didnt pay the correct tax to japan? he didnt steal money from nissan or maybe theres something i dont know about taxes and reporting income.
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Old 11-20-2018, 10:40 PM
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probably... i thought he was acquiring a salary above his pay grade via company assets, and not reporting it to Nissan, ie without company approval. Yeah its probably a tax evasion thing by under reporting his salary to the Japanese government instead... Im less shocked in that case, I hate taxes anyway. shouldnt have them in the first place.
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Old 11-21-2018, 08:26 AM
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BBC has other article(s) that shines a bit more light on the circumstances:

https://www.bbc.com/news/business-46271048

https://www.bbc.com/news/business-46287344

I also thought I had read somewhere that there was misappropriation of company assets but until I find a source don't quote me. Investigation was prompted by someone blowing the whistle as well.
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Old 11-21-2018, 12:01 PM
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He DOES look like a weasel. How did we not see this coming? Lol.

Underreporting income by 44 million and taking significant compensation off the books to avoid taxation. If I lie about my income on my tax return by just 44 thousand and get caught, I’m paying taxes on it + penalty + interest + fine + probably a little jail time. We’ll see how Japan handles it.
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Old 11-21-2018, 02:35 PM
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mr. bean's bro for sure
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Old 11-23-2018, 06:19 PM
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Originally Posted by gill1606 View Post
yes exactly, that's why its so shocking, that he would be taking money behind Nissan's back like this, a company he ironically helped bring back from financial disaster. He saves company, then steals from it...kind of counter intuitive, although i dont know the whole story. I suppose a man of his resume would not have resorted to financial practices that are questionable. He may have believed that he deserved a pay raise, he should have brought it to the attention of the board up front, not behind the company's back.
The problem with "financial practices" like the ones Ghosn is accused of, is that Japanese companies have at times used perks as part of an executive's compensation. Compare Ghosn's salary to many other car company execs throughout the world and it doesn't look like he's making as much. But compare the costs of his company sponsored homes around the world and it begins to even out. The problem is, the Nissan board was supposed to be overseeing all these practices in the first place, but having an all-powerful exec at the controls meant they may not have had as much oversight as they assumed. When an internal whistleblower came forward, there must have been a huge, mind-blowing scramble to determine what to do, and how to do it.

This story has legs, and may be running for years across national boundries!
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