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© 2012 AFPSteelmaking giant posts $3.9 bil first-half loss
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© 2012 AFP
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herefornow
So all the cross-holdings comes back to bite another Japanse company in the butt. Steel firms are supposed to produce steel and sell it for a profit, not be investing in stock. If they had spent those funds investing in new plants, they might not be having to close down the "money-losing" ones. The Japan Inc model is way broken and will drag the country down unless more folks like Carlos Ghosn come to the rescue.
minello7
All these articles about Japanese major companies, seem to be excuses, everything negative, looking to blame something or other.Never looking closely at themselves to see, if just maybe , they themselves are the cause of the problem.
PT24881
@herefornow "So all the cross-holdings comes back to bite another Japanse company in the butt. Steel firms are supposed to produce steel and sell it for a profit, not be investing in stock. If they had spent those funds investing in new plants, they might not be having to close down the "money-losing" ones. The Japan Inc model is way broken and will drag the country down unless more folks like Carlos Ghosn come to the rescue"
Interesting viewpoint indeed -- Japan Inc ( Govt Administrative guidance closely linked to conglomerates ) Model, worked out fine the 70's ~ 90's, why this is broken now ?
PT24881
In a globally linked economy with 'hybride' personnages such as Monsieur Carlos Ghosn -- A French educated Brazilian with parents migrated from Beyroute. Japan Inc has by far been behind others in creating a pool of multi-cultural pool of talents.
Japan's examples : 'Olympus' & 'Sony' -- Window dressing Gaijin boss erected as facade whereas the inherent corporate culture including some malpractices retained among the Japanese management team Korea's example : Samsung Electronics -- As recent as 15 years ago, no one would take the 'risk' of buying a 'samsung' branded gadget. Today, the success seems obvious. Behind the scenes, a genuinely international team is at work