Saturday May 26, 2012

JAPAN NEWS AND DISCUSSION

Ex-Olympus CEO Woodford heads to U.S. for FBI talks

Crime Nov. 27, 2011 - 06:47AM JST ( 29 )

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Former Olympus president Micahel Woodford faced his fellow board members Friday over a massive loss cover-up

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29 Comments

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TorafusuTorasanNov. 26, 2011 - 09:48PM JST

Alternate captions:

Woodford speaks to the Olympus board of directors on the topic of "coming out with your hands up" when your office is raided by the FBI.

Woodford relates a funny story about the size of his Nikon camera's telephoto lens.

Woodford brags about how many meter long snakes he caught barehanded during his last 5 weeks of R and R back in England.

Woodford shows his "wax on, wax off" self defense moves that studied while prepping for his return to Japan.

Chevy Chase doing an impersonation of Jon Lovitz and/or Jim Belushi.
0

anglootakuNov. 26, 2011 - 11:30PM JST

Shouldn't he be going to MI6 British equivalent to the FBI? Not sure why America has to get involved..?
1

lostrune2Nov. 27, 2011 - 02:20AM JST

Olympus has a lot of American investors.
0

sillygirlNov. 27, 2011 - 07:23AM JST

the us is involved because some dirty deals were done there, too. the law of the land(s) where you do business and break the law. japan has to realize that when they play in somebody elses sandbox there are rules to follow. japan can no longer hide behind "this is the way we do it in japan." they didnt do it only in japan.
-3

some14someNov. 27, 2011 - 07:46AM JST

wish Woodford and FBI should have arrived together for investigations. Hope Woodford is not brainwashed by Olympus board of directors or Japan's 'miyage' culture.
0

sillygirlNov. 27, 2011 - 07:51AM JST

@some14some - f rom the looks of things in the news, not a chance.
-4

Jack SternNov. 27, 2011 - 08:30AM JST

I wonder if Woodford will make the cover of "Time" magazine. He sure is gathering popularity woldwide.
0

globalwatcherNov. 27, 2011 - 08:54AM JST

anglootaku

Shouldn't he be going to MI6 British equivalent to the FBI? Not sure why America has to get involved..?

As losttune2 mentioned here, there are many US investors. By 12/14 as Olympus promised to produce revised financial statement, hopefully they will, this law suit has to be filed, so that they will be the first one on line among other creditors in case of default./delisting. FYI
-1

Elbuda MexicanoNov. 27, 2011 - 09:11AM JST

I think Scotland Yard should be all over this my dear Watson!!
1

FoxieNov. 27, 2011 - 09:39AM JST

Can't wait for the movie to come out - a real thriller up to now.
1

China SailorNov. 27, 2011 - 12:00PM JST

He said that he expected Japanese authorities to conduct a thorough probe into the scandal

He should have added, "and they will blame it all on some poor schmuck, while they totally ignore or destroy any evidence or connections leading directly to the yakuza."

And you can take that to the bank.
-8

onedragonNov. 27, 2011 - 12:39PM JST

Getting pretty sick of this guy
0

HategoboNov. 27, 2011 - 12:55PM JST

@onedragon You are obviously not an investor who has lost money through the plummeting share price caused by their allegedly criminal actions.
0

wanderlustNov. 27, 2011 - 02:24PM JST

No need for MI6 - the UK has the SFO - Serious Fraud Office to deal with the likes of this crime...
0

nandakandamandaNov. 27, 2011 - 03:06PM JST

Well, if anything gets too close to the truth, some Y boss will decide "that'snuff of him".
-1

as_the_crow_fliesNov. 27, 2011 - 03:45PM JST

Getting pretty sick of this guy

Getting sick of what, exactly? Does that mean you'd rather go on with business as usual* Yakuza milking companies dry, with the nod from those companies' legally appointed executives, who stand by or actively collude in this happening? I think a lot of people are

getting sick

of the culture of immunity for leeches and parasites who are allowed do carry on with these shenanigans, and get away with it for years, despite commiting crimes.

From the comments they make, it would seem that many on this board are pro-corruption, pro-yakuza, pro-impunity for the few who get away with stealing millions from the hard-working employees and shareholders who've built up firms. Unbelievable!
1

AkulaNov. 27, 2011 - 04:25PM JST

Corporate governance in Japan is generally of a very poor standard. Tip of the iceberg chaps.
0

tmarieNov. 27, 2011 - 04:48PM JST

Can we get some news about the offshore accounts??? What happened to the money. Seems news agencies stopped talking about them with all of this.
0

sillygirlNov. 27, 2011 - 06:00PM JST

@tmarie -that is what everyone is investigating. and yes, the news agencies would like to sweep this dirty secret under the carpet as do the directors of such companies.
-1

888naffNov. 27, 2011 - 06:31PM JST

the media show continues, press conferences, etc....

Well its that completely unexpected and funny for someone who is greedy and self interested (irony)... looks a bit too greasy for his future career prospects...but anyway its only the1% as some would say.
-8

RecklessNov. 27, 2011 - 07:59PM JST

Okay Mr. Woodford. Your 15 minutes of fame are over. Go back to where ever you came from. The Management.
-1

smithinjapanNov. 27, 2011 - 09:55PM JST

"Okay Mr. Woodford. Your 15 minutes of fame are over. Go back to where ever you came from. The Management."

Fortunately, 'reckless', your of the ilk that have had four quit over the scandal in the last couple of months, and will hopefully be imprisoned at some point in the future now that they have slipped and let the facts come to light.

Woodward's fame, or infamy if you are a Japanese business-person, have only just begun. They tried to quiet him in 15 minutes or so as well... look at them run now!
-1

Jon CassidyNov. 28, 2011 - 01:15AM JST

Anglootaku The FBI are getting involved because of the American class action law suit I would think! Woodford himself said he has all faith in the japanese police to get to the bottom of things!
0

brunnyNov. 28, 2011 - 02:04AM JST

I have read some nasty comments from readers, Japan is respected in England where I live.

Japanese goods are seen as superior to other far eastern products, whether that is right or not it is a fact which benefits Japan.

The problem with Japan it is very insular from the rest of the world and conducts it's business in a very different way to the rest of the world, unfortunately it also prefers to keep wrong doing very quiet.

There are so many on this site too quick to Judge my countryman Mr Woodford as far as I am concerned a saying in our country is "the jury is still out on this one"

With that said unlike many comments on here IF corrupt and illegal wrong doing is proven them Japan should do the honorable thing and at least acknowledge wrong doing a fact that seems to be unimaginable to many on this site.

If Mr Woodford is wrong then let him face the consequences.
1

The Munya TimesNov. 28, 2011 - 12:03PM JST

The case is growing bigger. Is this really Woodford's personal game or who is behind him? Is he such a powerful, smart a lonely hero?

Caused nice devaluation of Olympus and if it is going on like that, it worth the trouble as Olympus can become an easy thing to buy up very cheap. Supposing anybody needs them.
0

smithinjapanNov. 28, 2011 - 04:24PM JST

onedragon: "Getting pretty sick of this guy"

What a world it would be if we were all sicker of people the whistle's been blown on as opposed to the whistle blower. I'm sure the Olympus execs, many of whom have now quit, are 'sick of this guy' too.
1

Elbuda MexicanoNov. 29, 2011 - 09:20AM JST

I do hope this British dude has special witness protection and that the Yamaguchi Gumi Kai yakuza do not hurt or kill him.
1

The Munya TimesNov. 29, 2011 - 10:16AM JST

I do hope this British dude has special witness protection and that the Yamaguchi Gumi Kai yakuza do not hurt or kill him.

Why just Yakuza? As if Yakuza was the only one that can kill in the world of business and in general. As if all the others were harmless?
-1

SMPPNov. 30, 2011 - 09:28PM JST

Feeling sorry for this poor Brit guy M. Woodford. Olympus case already been fixed behind the door in Japan. Woodfood has already been ignored by J-press and authority something as "ware ware nihonjin vs the rest of the world".