Cattle farm execs arrested for lying about number of cows

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  • 2

    CrazyJoe

    Holy cow! This is the largest postwar corporate bankruptcy. (430 billion yen debt). There were 73,000 investors nationwide.

  • 2

    Get Real

    Prison!

  • 0

    papigiulio

    Can someone explain to me what the purpose is of lying about the amount of cows on a farm? Im sure its to make profit but how?

  • 1

    NeonFraction

    Am I the only one who laughed at the article title? I can't be the only one.

  • 0

    Laguna

    The customers must have had a cow - or so they thought.

  • 0

    Dennis Bauer

    Cowabunga!

  • 0

    Scrote

    This reminds me of those "gold" funds which don't actually own any gold.

  • 0

    Disillusioned

    Papigiulio - the cows are sponsored by investors and were told they would reap dividends from the sale of calves, but this old bat just took their money and probably spent it at pachinko.

  • 4

    zichi

    A new cow pat on the age old ponzi!

  • 1

    doedel

    @Papigiulio: The same cow(s) where 'owned' by several different investors - everybody believing it is theirs only.

  • 2

    viking68

    That was new and creative twist to the old ponzi scheme, until the cows came home

  • 3

    wtfjapan

    man only in Japan can owning a cow be a lucrative investment (so people think) bring on the TPP needs to be a flood of cheap foreign beef into Japan. to keep its ridiculously priced beef in its place. oh and dont give me Japan beef is very safe BS, foot in mouth and mad cow disease all in the last 10 years should show that myth as a lie.

  • 2

    ReformedBasher

    Was hoping for some more cow jokes...

  • 2

    Stephen Knight

    This was one of the first attempts at truly industrial-scale cattle ranching in Japan (though by aggregating numerous smaller producers under a single brand/label, the only way to make up for a lack of expansive ranch lands), and it was a fiscal and operational disaster. Unlike some Ponzi schemes, I think this one started out with a real intention to bring a new approach to the industry, but the initial estimates of operational costs, complexity, and productivity were all wildly off base. Japanese beef is overpriced partly because prices are propped up artificially, for sure, but also because they simply can't get the economies of scale you see in the U.S., where ranchers may have hundreds of thousands of acres available to support tens of thousands of cattle at a time. The industries in the two countries (or even between Japan and Australia) are simply not comparable.

  • -1

    kickboard

    Kumiko : sorry folks, I ate through most of your investments

  • 1

    Laguna

    Why buy the cow when you can fleece your investors for free?

  • 0

    Baibaikin

    So many old people in Japan with so much spare cash in the bank. I imagine there were many of them who considered investing in Daisy to be form of portfolio diversification. Moo-tual funds would've been a better idea.

  • 4

    YongYang

    Pull the udder one.

  • 1

    Laguna

    Mikajiri will no doubt plead, "To forgive is bovine."

  • 0

    Todd Judge

    I used to to include "cow economics" in my business course. For fun. Here it is: http://www.dailypaul.com/271610/cows-economics-throughout-the-world-revised

  • 1

    nandakandamanda

    She is a real cow, that woman. So how many does that make it?

  • -2

    Michael Craig

    You can be arrested for lying?

  • 0

    papigiulio

    Thank you @doedel and @disillusioned

  • 0

    Farmboy

    Scene, but not herd.

  • 0

    Tom DeMicke

    Holy cow! What a moooooving story!

  • 0

    Bartholomew Harte

    I guess Granny will just be chewin' her cud for the next few years!-

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