rarara comments

Piltdown Man: They are stalling now, buying time

well, as i suggested in my earlier post, the appointment of Mr.Woodford itself several months ago was their cheap "目くらまし" attempt to buy time, with the aim of temporarily deflecting the attention from these serious issues when they were under very strong domestic pressures to resign IMMEDIATELY.

Yubaru:

He became the CEO but until then he wasn't on the board was he?

he had been on the board as an Olympus executive in charge of European/British affairs. (and Gyrus is a British comapny) All the problems have been known for a long time. and, in recent months, the issues of Gyrus/others have been taken up repeatedly by magazines such as the very influential monthly Facta. (so, i was really surprised when Goldman Sachs announced last week that the share price of Olympus should rise to around 4,000 yen by next year. either extremely stupid or dirty.) actually,at the biginning of this year, Japanese observers had suspected that the kikukawa regime would not be able to last for more than a few months amid the growing, extremely harsh criticism from both within/outside the company, with regard to the Gyrus affairs . then abruply Mr.Kikukawa announced the appointment of Mr.Woodford (ex-salesman who cannot communicate in Japanese), causing the media sensation. That's why the Facta editor called the appointment as cheap "目くらまし" attempt to deflect the attention from these serious issues and prolong his reign. I have felt from the very beginning that the ridiculous promotion of this British ex-salesman to the post of president and equally ridiculous firing of him are all related to Olympus's disastrous purchases of the UK-based Gyrus/others.

JapanGal:

he exposed the companies wrong doings

as i wrote earlier, all of these problems had been already reported over the past 12 months or so by some infuential sectors of the Japanese media such as the monthly Facta. At the time when Mr Kikukawa announced the ridiculous promotion of this British ex-salesman as his "successor", he was under really intensifying pressures to expose everything and leave the company IMMEDIATELY together with many of the board directors. that's why the Facta editor called the much publicised/applauded promotion of Mr,Woodford as cheap "目くらまし" attempt to deflect the attention from these serious issues and prolong his reign.

[rararaOct. 19, 2011 - 11:02PM JST sunhawk: "how much better it would have been for the koreans had they stayed part of japan proper"

actually, that's exactly how many of them felt (while pretending to hate Japan), so millions of them migrated (mostly illegally) to Japan in the latter latter half of the 1940s/1950s, and acquired the privileged "Special Permanent Residents" status. One of the most successful among them would be this owner of Maruhan Pachinko empire Mr.韓 http://ja.wikipedia.org/wiki/%E9%9F%93%E6%98%8C%E7%A5%90 He is typical in that he smuggled into japan immediately after their independence in 1945, eventually decided to become a Japanese citizen, and now are educating the japanese at large about how they should keep apologising/compensating with regard to their sins against the Korean people, who had taught the japanese everything such as Kanji/Sushi/Kendo/Zen etc. etc., all invented by ancient Koreans. Just one more famous example http://en.wikipedia.org/wiki/Hisayuki_Machii most prominent "black van" boss in the post-war Japan, who contributed a lot to the cause of Great East Asian solidarity/co-prosperity. The japanese should be really grateful to the benevolent guidance of the korean people, and keep paying trillions of yen every now and then, thus making compensation for their unforgivable sins.]

surprised to find no one has yet given the "bad" to this post of mine.

well,all these things have been known for a long time. and, in recent months, the issues of Gyrus/others have been taken up repeatedly by magazines such as the very influential monthly Facta. (so, i was really surprised when Goldman Sachs announced several days ago that the share price of Olympus should rise to around 4,000 yen by next year. either extremely stupid or dirty.) actually,　at the biginning of this year, Japanese observers had suspected that the kikukawa regime would not be able to last for more than a few months amid the growing, extremely harsh criticism from both within/outside the company, with regard to the Gyrus affairs . then abruply Mr.Kikukawa announced the appointment of Mr.Woodford (ex-salesman who cannot communicate in Japanese), causing the media sensation. That's why the Facta editor called the appointment as cheap "目くらまし" attempt to deflect the attention from these serious issues and prolong his reign. I have felt from the very beginning that the ridiculous promotion of this British ex-salesman to the post of president and equally ridiculous firing of him this week are all related to Olympus's disastrous purchases of the UK-based Gyrus/others.

Marion Wm Steele, my korean pal told me that in 1945 there there were already two koreas divided by some violent, greedy empires.

sunhawk:

how much better it would have been for the koreans had they stayed part of japan proper

actually, that's exactly how many of them felt (while pretending to hate Japan), so millions of them migrated (mostly illegally) to Japan in the latter latter half of the 1940s/1950s, and acquired the privileged "Special Permanent Residents" status. One of the most successful among them would be this owner of Maruhan Pachinko empire http://ja.wikipedia.org/wiki/%E9%9F%93%E6%98%8C%E7%A5%90 He is typical in that he smuggled into japan immediately after their independence in 1945, eventually decided to become a Japanese citizen, and now are educating the japanese at large about how they should apologise/compensate with regard to their sins against the Korean people, who had taught the japanese everything such as Kanji/Sushi/Kendo/Zen etc. etc., all invented by ancient Koreans. Just one more famous example http://en.wikipedia.org/wiki/Hisayuki_Machii most prominent "black van" boss in the post-war Japan, who contributed a lot to the cause of Great East Asian solidarity/co-prosperity. The japanese should be really grateful to the benevolent guidance of the korean people, and keep paying money, thus making compensation for their unforgivable sins.

Spidapig24, i just wish to say that i think GE has been deeply involved in the maintenance of the plants for the past 40 years, and that there are still some secret parts of the design which have not been revealed to the japanese side in spite of the J. request to do so following the quake/tsunami. sorry to say that i am too busy to talk too much.

Spidapig24, i simply do not agree with you. that's all.

Piglet, why do i need to "lie" ? it's just based on the reported remarks of the engineers who were involved in the GE-led project. The nuclear things had been banned in Japan since the occupation era, so japanese engineers knew very little in the 1960s. and, they were not in a position to rebut the GE position aggressively. I also think that as a matter of course, TEPCO should have replaced the crappy, old GE-designed plants with Japanese ones (like those in Onagawa) long, long ago.

Spidapig, as a matter of course, TEPCO should have replaced the crappy, old GE-designed plants with Japanese ones (like those in Onagawa) long, long ago.

Piglet:

The design of the reactors was from Hitachi, Toshiba and GE

actually, the basic designs are GE's for ALL of the Fukushima-daiichi plants. Hitachi/Toshiba joined the GE team as a kind of sub-contractors for some of the plants. and, the GE had rejected the japanese proposal to consider the possibility of Tsunami when they built them. reportedly, GE has yet to reveal all the details of the design to Toshiba/Hitach in spite of the Japanese request following the Tsunami disaster. on the other hand, nuclear power plants of Onagawa (near Sendai) and Fukushima-daini (which survived the quake/tsunami) were really designed by the japanese companies.

[3 Bad * rararaOct. 19, 2011 - 09:15AM JST why don't they demand compensations from GE(General Electric) which has been responsible for the crappy designing/maintenance of Fukushima-daiichi nuclear power plants ?]

i am really curious why nobody demand compensations from the GE.

and, my remark (above yours) about the Nissan popularity among uni students is a response to SwissToni's comment which says "the company has no problems recruiting new graduates". and, are you sure you yourself don't do the "misconstruing" ?

You come across as very bitter, ......Good luck sir in your investments.

Huh???

why don't they demand compensations from GE(General Electric) which has been responsible for the crappy designing/maintenance of Fukushima-daiichi nuclear power plants ?

herefornow:

Which is probably why so few Japanese people invest in stocks

and only ignorant foreigners invest/trade in japanese stocks ? you should have advised Goldman Sachs about the reality before they announced a few days ago that the share price of Olympus should shoot up to around 4,000 yen in the near future.

i am too busy to keep talking with you. so, i would just repeat that the market do NOT agree with you.

and, with regard to the Nissan popularity among uni students, http://www.nikki.ne.jp/event/201001131/ where is Nissan? It used to be much more popular than Toyota and Honda.

http://www.nikki.ne.jp/event/20100113/ not even in the top 100 list.

SwissToni:

Well now youre contradicting yourself. Japan can only maintain its stupid levels of government spending in the long term by borrowing abroad.

Huh??? what are you talking about ?

browny1, I have been always sceptical about both Japanese/non-japanese who love to cite that Lebanese executive as an ideal business leader. Carlos Ghosn has never hesitated to radically cut Nissan's labour costs (involving large-scale dismissals of employees) and never hesitated to sacrifice subcontractors, so it's just natural Nissan's profits, dividends, and executive compensation (for Ghosn) have risen at least in the short run (several years). But, since Ghosn took control of Nissan, I have never met a good student who hopes to work for Nissan after their graduation. (Among japanese students Nissan used to be much more popular than its rivals Toyota/Honda in the past, and that is the reason why Nissan's R&D was of the highest standard among these car makers.) I am sceptical about the long-term prospect for Nissan.

nothing contradictory between my two posts.

SwissToni;

Rarara, they were wrong then werent they.

many had expected that some LITERATE olympus employee would be appointed as new president amid the growing, harsh criticism of Mr.Kikukawa, IMMEDIATELY terminating the Kikukawa regime. As a matter of course, many of literate Olympus employees and financiers have been really critical of the Kikukawa regime for years, especially with regard to the issues of Gyrus/others. It just seemed commonsensical to assume that his regime would not last until summer of this year. with regard to the J. government bonds, the market don't agree with you. I would repeat that I bought J. government bonds over the past 10-15 years every time extremely stupid S&P/Moody's downgraded it and equally foolish "international experts" predicted imminent collapse, and it has been quite a success. (but i sold about half of them during past few years, taking profits. And, i am not buying anymore because of the ridiculously low yields. ) Do you think that Japan, the world's top creditor nation with by far the largest NET external assets, would become like the US, UK, etc. (which have to keep borrowing unsustainable amounts of money from Japanese, chinese and arabs) ? (but i also have to say that it is actually possible if really catastrophic Tokai/Nankai earthquakes and Fuji eruption occur. and these earthquakes are believed to occur within twenty years or so.)

SwissToni:

Rarara are you saying that the trading in Olympus shares right now is all by foreigners?

Huh? I have never said or suggested such a thing.

SwissToni

Olympus board's own business literacy is demonstrably questionable

actually,　at the biginning of this year, Japanese observers had suspected that the kikukawa regime would not be able to last for more than a few months amid the growing, harsh criticism from both within/outside the company, with regard to the Gyrus affairs . then abruply Mr.Kikukawa announced the appointment of Mr.Woodford (ex-salesman who cannot communicate in Japanese). that's why the Facta editor called the appointment as cheap 目くらまし to deflect the attention from the issues of Gyrus/others and prolong his reign. As a matter of course, Mr. Woodford is illiterate in Japan. He simply cannot communicate with the Olympus people in Japan without an interpreter.

governments massive borrowing from its own shrinking pool of savers

i am not sure if it's so problematic in view of the ridiculously low yields on the japanese government bonds, which are owned/bought domestically, unlike in the US, UK, etc. i am even sceptical about the j government's apparent plan to raise the consumtion tax (value-added tax) from the current 5% to the european level (around 20%). (I have earned quite a lot by ignoring advice of international financial "experts" for the past ten years to sell the "dangerous" japanese bonds. acutually I bought it every time stupid S&P/Moody's downgraded it. quite a success. I suspect that the Japanese ministry of finance has been trying to exagerate the issue because of its desire to raise the consumption tax. )

SwissToni, i would like to add that the illiterate British salesman was promoted to the president by Kikukawa as a kind of "目くらまし" in the words of the influential Facta editor, who repeatedly reported over the past 12months or so about the Gyrus/other affairs (including the Cayman adviser thing). As a matter of course, there would never have been such a ridiculous promotion if Olympus did not buy Gyrus. (but it's also true that the illiterate British salesman did not become a convenient "目くらまし" tool for the Kikukawa regime in the final analysis.) more Woodfords for corporate Japan ? that would probably mean resourceless, overpopulated, and yet top-creditor Japan being transformed into a debtor nation which has to keep borrowing unstainable amounts of money from foreigners. and, plunge of the yen back to the good old days of around 360 yen per dollar/1000 yen per pound from the current levels of around 80 yen per dollar/ 120 yen per pound. and, the same downward spirals experienced by Sony (under Howard Stringer) and Shinsei (under American ownership/managemenr). I do not think Kikukawa is a typical Japanese executive, that's why so much negative attention, including that of myself, has been paid to him over the past several years.

Just a few days after some foreign brokerage houses such as Goldman Sachs announced that the share price of Olympus should rise to around 4,000 yen in the near future. Why did they make such absurd predictions when some influential japanese media such as the monthly Facta was intensifying their criticism of the Kikukawa regime really harshly over the past several months, especially with regard to the ridiculous nature of their purchase of the UK-based Gyrus/others.Too stupid??? Illiterate? Too damn corrupt/dirty ??? I guess many foreigners bought Olympus shares because of these ridiculous predictions by Goldman and others, and are now selling them in panic.

SwissToni:

A man demonstrating good character is a rare thing in business anywhere, let alone Japan.

i have heard such person is not rare at all in the world-renowned Swiss banking sector, Wall Street, London, Detroit, and everwhere in the world outside Japan.

GW, relax man we can all toss our 2yen in here & there dont have a coniption.

Gaijin reporters in japan are LAME, they hardly ever do any investigative stuff, but once something is OUTED they sometimes report a bit, just like they have done in the past few days. What were they doing while some influential japanese media such as the monthly Facta was intensifying their criticism of the Kikukawa regime really harshly over the past several months, especially with regard to the ridiculous nature of their purchase of the UK-based Gyrus/others. Is this related to the even more absurd fact that some foreign brokerage houses such as Goldman Sachs announced just a few days ago the share price of Olympus should rise to around 4,000 yen in the near future? Too stupid??? Too damn corrupt???

browny1:

The BIG mystery is why the mainstream media

the facta is a mainstream media edited/written by former Nikkei reporters. and, as a matter of course, every paper/magazine is now writing about the Gyrus affairs.

The BIG mystery is why some foreign brokerage houses such as Goldman Sachs announced a few days ago that the share price of Olympus should rise to around 4,000 yen in the near future, when some influential japanese media such as the Facta was intensifying their criticism of the Kikukawa regime really harshly.Too stupid??? Too damn corrupt??? I guess many foreigners bought Olympus shares because of these ridiculous recent prediction, and are now selling them in panic.

GW:

Brit has exposed it all for public consumption

As i wrote repeatedly, it is neither some illiterate gaijin salesman nor gaijin media who exposed it for public consumption (as distinct from gaijin consumption). It was some influential sectors of the Japanese media (such as the monthly Facta) who exposed it long ago and has been criticizing the Kikukawa regime REALLY HARSHLY in recent months. The ridiculous promotion of this British ex-salesman to the post of president and equally ridiculous firing of him this week are all related to Olympus's disastrous purchase of the UK-based Gyrus/others , as I suggested in my posts for the earlier report. That's why i was really surprised when some foreign brokerage houses such as Goldman Sachs announced a few days ago that the share price of Olympus should rise to around 4,000 yen in the near future. either extremely stupid or dirty. I guess many foreigners bought Olympus shares because of these ridiculous recent prediction, and are now selling them in panic. foreigners are all illiterate? i do not necesarily think so.)