Friday May 25, 2012

JAPAN NEWS AND DISCUSSION

Olympus shares plunge 21% on dilution fears

Business Dec. 16, 2011 - 02:51AM JST ( 12 )

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Scandal-hit Olympus has filed corrected earnings reports for the past five fiscal years

Shares in the company are worth about half their value before Woodford's ouster

The firm has seen around 58 percent of its value disappear in the two months

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12 Comments

2

namabiru4meDec. 16, 2011 - 08:02AM JST

My prediction is that Olympus will be bought out...

Their brand name has eroded and no one will want to buy a product with OLYMPUS stamped on it. (Last night on the news they were asking people about it, and ALL said they would not be caught with anything that says Olympus.)
-6

rickyveeDec. 16, 2011 - 09:38AM JST

thanks again, mr. woodford!
1

RiffraffDec. 16, 2011 - 09:59AM JST

It sucks to be an Olympus stock holder now, but all those people that were considering investing their hard earned money in Olympus dodged a bullet. Olympus was operating as a giant ponzi scheme and it was just a matter of time before the house of cards collapsed. The investors will suffer, but the old guard management will walk, they have to have several government officials in their pocket considering the way this is dragging along.
2

nihoncriticDec. 16, 2011 - 10:13AM JST

Olympus may be a rotten company in terms of management, but much of its technologies and know how still have much value. I foresee a bargain sale of valuable parts, technologies, and know how. Many of the other competitors will swoop in and get them for cheap. Olympus made great products, it really is a pity that the company with high reputation has such a dishonorable chapter.
3

theeastisredDec. 16, 2011 - 10:22AM JST

Rickyvee, Totally wide of the mark again. Do you always shoot the messenger?
1

theeastisredDec. 16, 2011 - 10:32AM JST

Mods, let's block this useless idiot dsfsfg
-5

rickyveeDec. 16, 2011 - 10:53AM JST

@theeastisred

if the messenger is a vindictive and egotistical publicity seeking power hungry blowhard, then yes.
1

cactusJackDec. 16, 2011 - 11:00AM JST

Olympus could very well be bought, broken apart, and sold in pieces. They have many divisions.
0

theeastisredDec. 16, 2011 - 11:02AM JST

Rickyvee

if the messenger is a vindictive and egotistical publicity seeking power hungry blowhard, then yes.

Naruhodo. That wouldn't apply in this case then, unless you have information on Mr Woodford that is not available to anyone else. Please share it with us.
-1

herefornowDec. 16, 2011 - 01:22PM JST

theeastisred -- rickyvee has no such information. He only wants to continue to make his ugly attacks on Woodford every chance he gets. In his mind, the guy who exposed the crime, only when the board refused to fire the culprits who committed it, is the villain, and not the criminals. Thirty years of false financial statements and paying illegal dividends as they now additionally admit, is not the crime here in his mind. It's bringing it to light that is intolerable.
0

gaijinTechieDec. 16, 2011 - 03:55PM JST

if the messenger is a vindictive and egotistical publicity seeking power hungry blowhard, then yes.

Then you're not talking about mr. Woodford. As you well remember (if you did your homework instead of having it handed to you), mr. Woodford attempted to fix the problem quietly, away from public light. Since Kikukawa wouldn't have none of it and instead wanted to keep screwing investors, there simply wasn't any other choise in order to DO THE RIGHT THING! Ever heard of it? Doing what's right? Ethics? Morality? Honesty? Do you understand these concepts?
-3
rickyveeDec. 16, 2011 - 04:12PM JST
hmmm...let's see which of my adjectives is actually wrong:
1. vindictive: because he was unfairly removed as CEO, his one passion has been to remove all members of the board.
2. egotistiical: he actually believes that a majority of the japanese shareholders want him back as CEO. he must really believe that after destroying the company, he is the ONLY one that can regain its glory.
3. publicity seeking: he has held numerous interviews since the incident in hopes of removing all members of the board, in hopes of fighting a proxy war (which he later recanted) and in hopes of getting his job back.
4. power hungry: see 2 and 3
5. blowhard: see 1-4
look, he initially did a noble deed by esposing the wrongdoings of the board. great! but since then he's only been interested in becoming CEO again. to me that is the height of insanity. whistleblowers are never welcomed back into the fold, regardless of their good intentions. yes, the whole board should be removed, but no woodmeister is not the right person to lead the company again.