business

Nissan execs to return part of salaries over bogus vehicle inspections

11 Comments
By Yuri Kageyama

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11 Comments
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They get the money back at bonus time, how about actually fining the company or put some people in jail?

5 ( +6 / -1 )

Yup, winter bonus will make up more than the tiny amount -- I'm guessing less than 10% -- of the "pay cut" that these generous, kind, and ever-thinking men are taking on behalf of all the illegalities and safety violations they've made and covered up.

4 ( +5 / -1 )

Nissan Motor Co Chief Executive Hiroto Saikawa and other executives of the Japanese automaker are returning a part of their salaries to show remorse over illegal vehicle inspections at the automaker's plants in Japan.

Nissan Motor Co Chief Executive Hiroto Saikawa and other executives of the Japanese automaker are returning a part of their salaries to show remorse over being caught on illegal vehicle inspections at the automaker's plants in Japan. There, fixed it.

Saikawa did not say how big the pay cuts would be or who else would take them. He said "voluntary return of a part of his pay" started last month and will continue through March 2018, the end of the fiscal year.

I'm sure it won't affect their lavish lifestyle.

But Saikawa denied the scandal was related to Nissan Chairman Carlos Ghosn's well-known management style of cost-cutting drives and ambitious targets.

There needs to be an investigation into how much Carlos knew. We can't assume he's just innocent.

3 ( +4 / -1 )

avoiding taking real responsibility as ever.

2 ( +2 / -0 )

”part of” means absolutely nothing.

How much? What percentage?! ... Even ¥1 is “part of”!

2 ( +2 / -0 )

Carlos Ghosn not happy about this, again!

0 ( +0 / -0 )

How meekly Hiroto Saikawa and Yasuhiro bowing their heads in remorse for all the manipulations carried out by Nissan since 1979 to dupe the Japanese customers. Will Japanese public ever forgive the company and its executives for such unfair business practices.? Such actions badly dent the corporate image of the Japanese companies in the eyes of the customers.

0 ( +1 / -1 )

The problematic inspections are not expected to result in quality problems because they are a final step before vehicles are shipped out

In other words the government regulations don’t improve outcomes, while imposing superfluous costs on makers, who seek to work around the useless rules. Very Japanese.

-1 ( +0 / -1 )

1glenn. I agreed. We communication Company called One Tel and the Company was collapsed in 2001 in Australia. The main investors James Packer and Lachlan Murdoch had lost $ 500 millions each as well as other investors.

Two Company founders Jodee Rich and Brad Keeling had given themselves with generous bonus $ 8 millions a few days before the Company collapse. The Company was worth $ 3.5 billions. They have manipulated Company accounting until before cash was running out. They knew the Company will go under liquidation and decided to give themselves $ 8 millions bonus each. Also they have sold their shares in the Company a few days before Company collapse. They confessed guilty but they didn't pay back a cent to the debtors. They never apology to investors and no remorse whatsoever. It's difference between Japanese Corporation executives and the Western Corporation executives.

-1 ( +0 / -1 )

The actions of Japanese corporate executives is in some ways in sharp contrast to how Americans behave. The Japanese executives returned some of their pay. After the 2008 financial crisis, when the US government rescued some of the bankrupt charlatans on Wall St., those same executives then proceeded to give themselves million dollar bonuses with money intended to keep their companies out of bankruptcy.

-2 ( +0 / -2 )

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