Nissan to fire Ghosn, financial misconduct.

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Just an update. It seems Nissan is continuing to play hard ball with Ghosn. Reuters is reporting that fearing Ghosn will remove or destroy evidence, Nissan is seeking to block his access to an apartment in Rio. The apartment is owned by Nissan. They are petitioning a higher court in Brazil to reverse a decision that allows Ghosn access.

https://www.reuters.com/article/us-...access-to-apartment-in-rio-idUSKBN1O805J
 
France and Brazil have been vocal in attacking Japans legal system saying that Ghosn should not even be in prison. Japan's detention policies do not discriminate. Whether you are a major CEO or a petty thief, you get the same conditions.

Nissan has put out feelers saying that Renault has too much say in the picking of a new CEO. I still sense that if given the opportunity Nissan and Mitsubishi would break away from the alliance. Of course the media is reporting that everyone supports the alliance as is but I wonder if that is just a cover?

Meanwhile, France has bigger problems to contend with.
 
The latest on this automotive soap opera. Renault wants to call a emergency shareholders meeting. Nissan and Mitsubishi are delaying. It appears the alliance is fracturing even though both sides in public stand by the alliance. Behind closed doors, the Japanese want out.


https://www.bloomberg.com/amp/news/...ick-successor-for-ghosn-as-tensions-brew


I see a scenario where Nissan and Mitsubishi start planning a buyout and split away from Renault. This could be similar to the Mazda Ford divorce which was planned a few years before Mazda pulled the trigger.

It will be interesting to watch.
 
Since the last post, Ghosn was re-arrested on new charges. The prosecutors got permission to extend his detention for another ten days.

There is some political and corporate play going on here. A summit meeting between the three companies was held but the key figures avoided each other. France and Tenault want to pick the new Nissan CEO, Nissan wants to pick their own. This is the big stalemate.

Both sides agree they need each other but it may come down to who needs who the most. Could Renault make it on their own?
 
Originally Posted by Sayjac
After more than a month in detention Nissan American Executive Greg Kelly (arrested with Ghosn) has been released on bail. As mentioned above, because of new breach of trust charges seems Ghosn could be held until Jan. 1, or longer. A Nissan Mitsubishi alliance sounds interesting. Don't know if Renault could make it on their own.

https://www.apnews.com/620d2ec074e7482898c431d996e8a450





That alliance with Renault was a major blunder in the long term for Nissan. They need to get back to their roots. Having Mitsubishi will give them access to developing countries that they didn't have in strength. Nissan has the expertise in electric cars as well.

It could be a similar situation as Mazda. Mazda went back to their roots and heritage after divorcing Ford. It has worked out well for them albeit in a smaller scale compared to Nissan Mitsubishi
 
Originally Posted by PimTac
Both sides agree they need each other but it may come down to who needs who the most. Could Renault make it on their own?

The real question is this... could Nissan and Mitsubishi make it on THEIR own? Renault rescued Nissan from near-bankruptcy 19 years ago, and in 2016 they rescued Mitsubishi who had been teetering on bankruptcy for many years. The French government will not allow Renault to go under. On the Ghosn thing, there are a lot of politics going on behind the scenes that we don't know about.
 
Originally Posted by PimTac
Mazda went back to their roots and heritage after divorcing Ford. It has worked out well for them albeit in a smaller scale compared to Nissan Mitsubishi

Mazda didn't divorce Ford, Ford divorced Mazda because they were losing money, and had been for years. In fact, Mazda's financial difficulties go way back to the mid 1970's, first being rescued by Sumitomo Bank in 1975, and then by Ford in 1979. Ford rescued them again in 1996, increasing it's ownership stake and taking controlling interest. After the divorce, Mazda was once again on the verge of bankruptcy until Sumitomo rescued them again (Sumitomo has held a stake in Mazda since they first rescued them). Then Mazda formed an alliance with Toyota. It is really their alliance with Toyota that has keep them from going under because they now have access to some of Toyota's HUGE resources... managerial, technical, financial, and Toyota's network of suppliers. As a result, Mazda is now healthier then they have been since the 1980's. Toyota owns a small stake in Mazda, but not controlling interest. Sumitomo is Mazda's largest shareholder.
 
So, is he still sitting in jail in Japan? You know someone is playing very hard hardball when a person with resources such as this guy has at his command can't post a bond and is reduced to accessing only reading materials that the authorities authorize for him!
 
Originally Posted by ekpolk
So, is he still sitting in jail in Japan? You know someone is playing very hard hardball when a person with resources such as this guy has at his command can't post a bond and is reduced to accessing only reading materials that the authorities authorize for him!




Yes he is still in jail as new charges keep piling up. The whole scheme is a very intricate one.

The focus has been on Ghosn but the bigger battle is between France and Japan. France is pushing for Renault to take over. Japan is against this. Can Nissan-Mitsubishi make a go if it on their own? I think they can especially with Mitsubishi financing. I wonder if this friction didn't start back when Mitsubishi entered the alliance and France caught wind of what might come? France and Renault have been adamant on picking the next Nissan head. Nissan and Japan will not bow to that demand.

It's a fascinating story and a lot of speculation.
 
In addition, in the Japanese criminal system you are treated the same whether a common thug or a high ranking businessman or politician. Both get the same cells, same food, same treatment. It's different from the US and other countries that have the so called country club prisons for high ranking persons.

This is why Ghosn's family and the French government have been vocal in his treatment so far.
 
I was deployed to MCAS Iwakuni, Japan (a few miles down the coast from Hiroshima) a couple times in the late 80s and early 90s. We used to repeatedly stress to our Marines that the LAST thing they wanted -- far worse than standing tall before the CO -- was to end up in the hands of the Japanese criminal justice authorities. It didn't happen often, but it was a mess when it did.

Say what you will about the Japanese, good, bad or indifferent -- those folks don't mess around when you break the law. I almost feel sorry for Ghosn ... almost.
 
He should have been fired for allowing most of Nissan's exterior designers to continue working there; most new Nissans look like they fell out of an ugly tree and hit every branch on the way down.
 
The big showdown is coming as France wants to pick the next head of Nissan while Japan has stated that Nissan should decide who will lead.
 
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