Carlos Ghosn arrested...
11-20-18, 01:52 PM
#16
Lexus Fanatic
11-20-18, 03:13 PM
#17
Lexus Fanatic
11-20-18, 03:18 PM
#18
Lexus Fanatic
Yes....agreed. I was only using that part of the U.S. code as one example.
I might be wrong, but the way I remembered it, the Japanese didn't send any official notification to our own State Department when they arrested Julie Hamp, who was a Toyota executive but also an American citizen.
Again to me this whole thing is about power struggle more than anything between Renault and Nissan. Renault was not advised of this investigation or given a heads up on the arrest - which is rather strange.
11-20-18, 03:39 PM
#19
Lexus Fanatic
11-20-18, 07:01 PM
#20
Lexus Test Driver
Yes....agreed. I was only using that part of the U.S. code as one example.
I might be wrong, but the way I remembered it, the Japanese didn't send any official notification to our own State Department when they arrested Julie Hamp, who was a Toyota executive but also an American citizen.
I might be wrong, but the way I remembered it, the Japanese didn't send any official notification to our own State Department when they arrested Julie Hamp, who was a Toyota executive but also an American citizen.
11-20-18, 07:08 PM
#21
Lexus Fanatic
While it is indeed possible (I won't completely discount it), I will be very surprised if Ghosn winds up behind bars for any significant length of time. Of course, that was once said of Paul Manafort, too, so, if Ghosn does end up doing a long prison term, I'll stand corrected. But, if they couldn't put VW's Ferdinand Peich in prison (and Peich himself gave the orders to run afoul of the law, if necessary, to get VW diesels to pass EPA tests), then my current view is Good Luck trying to do so with Ghosn.
11-20-18, 08:08 PM
#22
Lexus Champion
Mr. Ghosn is chair of the board of directors (responsible for representing the shareholders) of Nissan but gave up the position of President / CEO (responsible for the daily operations of the company) a year ago to Hiroto Saikawa.
Mr. Ghosn is also chair of the board of directors of Mitsubishi Motors; and also chair and CEO of Renault. Renault does not own a majority of Nissan (Renault only owns 43.4% of Nissan shares) although under Japanese law, one-third ownership is enough to give control.
Nissan bought 34% of Mitsubishi Motors (but not all of the Mitsubishi companies) 2 years ago, giving Nissan control of Mitsubishi Motors; and since Renault has control of Nissan, Renault effectively has -- through Mr. Ghosn -- control of Mitsubishi Motors.
Perhaps Nissan (which is 60% larger in sales than Renault) is trying to break away from control by Renault (which has the French government as its largest single shareholder, at 15%).
It seems like quite a soap opera.
Mr. Ghosn is also chair of the board of directors of Mitsubishi Motors; and also chair and CEO of Renault. Renault does not own a majority of Nissan (Renault only owns 43.4% of Nissan shares) although under Japanese law, one-third ownership is enough to give control.
Nissan bought 34% of Mitsubishi Motors (but not all of the Mitsubishi companies) 2 years ago, giving Nissan control of Mitsubishi Motors; and since Renault has control of Nissan, Renault effectively has -- through Mr. Ghosn -- control of Mitsubishi Motors.
Perhaps Nissan (which is 60% larger in sales than Renault) is trying to break away from control by Renault (which has the French government as its largest single shareholder, at 15%).
It seems like quite a soap opera.
11-29-18, 12:58 AM
#24
Lexus Champion
Allegations seem to be very weak at best.
Hiding true income by using the company to pay for personal expenses etc.
What CEO/Chairman is Not guilty of that? These people have their own corporate cards and spending accounts. Unless he was stealing tens of millions of dollars somehow by transferring into his personal bank account - this is bogus. Looks more like a power struggle with the current Japanese Nissan CEO looking to get rid of Ghosn.
Hiding true income by using the company to pay for personal expenses etc.
What CEO/Chairman is Not guilty of that? These people have their own corporate cards and spending accounts. Unless he was stealing tens of millions of dollars somehow by transferring into his personal bank account - this is bogus. Looks more like a power struggle with the current Japanese Nissan CEO looking to get rid of Ghosn.
We are not talking about only US tax code.
Nissan is an international company that needs to abide by many different tax laws.
So far there has be no evidence provided of what exactly Ghosn did or why the internal and external auditors did not pick up on it.
Again to me this whole thing is about power struggle more than anything between Renault and Nissan. Renault was not advised of this investigation or given a heads up on the arrest - which is rather strange.
I expect this to happen in Russia or China - just goes to show how protective Japan is to their auto industry.
Nissan is an international company that needs to abide by many different tax laws.
So far there has be no evidence provided of what exactly Ghosn did or why the internal and external auditors did not pick up on it.
Again to me this whole thing is about power struggle more than anything between Renault and Nissan. Renault was not advised of this investigation or given a heads up on the arrest - which is rather strange.
I expect this to happen in Russia or China - just goes to show how protective Japan is to their auto industry.
All these claims that this was a planned move is bogus. If he did nothing wrong then there is no way to get him out of the company like this.
Last edited by Dave600hL; 11-29-18 at 03:12 PM.
11-29-18, 05:58 AM
#25
Lexus Fanatic
Originally Posted by Dave600hL
Being that he has got money, he will most certainly avoid jail time
11-29-18, 03:08 PM
#26
Lexus Champion
And after a bit of reading, the tax department has been looking at him since last year.
Last edited by Dave600hL; 11-29-18 at 03:13 PM.
11-30-18, 10:45 AM
#27
Dysfunctional Veteran
12-04-18, 01:49 PM
#30
Lexus Champion
He's basically being accused of deferring $82M of his salary over several years as a tax avoidance scheme, likely via advice from his tax people. To replace that forgone salary, he allegedly used company money to pay for his personal living expenses. It seems that he and his tax people didn't want to pay the upfront taxes on his salary and later when he did want that money, the idea was to "filter" it back to him in some other hidden way.