Jump to content
William Maley

Nissan News: Arrest of Carlos Ghosn Caused Nissan To Cancel Debut of Long-Range Leaf

Recommended Posts

Nissan's showing at last week's LA Auto Show was a bit underwhelming with mid-cycle refreshes of the Maxima and Murano. But Nissan had bigger plans for LA. According to the Wall Street Journal, the Japanese automaker was planning to show a longer-range version of the Leaf EV. The model would increase range from 151 miles to 225 miles via a larger battery pack. The Journal reports that Nissan had rented space in the Japanese American National Museum for the media unveiling and hired Hollywood actress Margot Robbie to introduce the model.

But the reveal was postponed. 

“The official announcement regarding details of the 2019 Nissan Leaf with additional performance capabilities is postponed to a later date,” Nissan said in a statement.

A spokesman went on to say that the reveal was delayed “to ensure that this important product unveiling could receive the coverage it merits.”

Emphasis mine.

Currently, the coverage at Nissan deals with the arrest of former Chairman and CEO Carlos Ghosn over alleged misuse of company funds and understating his income. This would have overshadowed the introduction of the updated Leaf.

It is unclear when Nissan is planning to show off the revised Leaf, but it may take awhile. This week alone saw new allegations come against Ghosn for having a salary above a cap set by shareholders and that he passed on personal losses totaling more than a billion yen ($8.8 million) from derivative trading on to the company. Over at Nissan, the company has pushed back a decision on nominating a successor to Ghosn as chairman. It is expected that a recommendation made by a  three-member panel of external Nissan directors will present their choice to the board later this month.

Source: Wall Street Journal (Subscription Required)


View full article

Share this post


Link to post
Share on other sites

What is it about people who already make many millions of dollars that they then have the desire to risk it all to nefariously make more.

 

Shame about the long-range leaf... maybe we'll see it in Chicago?

  • Like 1
  • Upvote 1

Share this post


Link to post
Share on other sites

I understand the delay in announcement, but I had also read and I think it was in Bloomberg where the release date of the long range leaf was still on track, just the announcement to the press and at what show was now delayed. Will have to find that story.

Share this post


Link to post
Share on other sites
43 minutes ago, Drew Dowdell said:

What is it about people who already make many millions of dollars that they then have the desire to risk it all to nefariously make more.

 

Shame about the long-range leaf... maybe we'll see it in Chicago?

I always think the same exact thing. I just don't understand it. 

What did he do wrong here? I don't remember reading anything on it other than a Nissan executive being arrested or whatever. 

I guess I should say, what was he spending the company money on? 

Share this post


Link to post
Share on other sites
1 minute ago, ccap41 said:

I always think the same exact thing. I just don't understand it. 

What did he do wrong here? I don't remember reading anything on it other than a Nissan executive being arrested or whatever. 

Shady things like charging the company for personal expenses to the tune of millions. Backdoor arrangements to get paid more than the salary cap the board set. Apparently not declaring his proper and full income in Japan to their taxing authority.

  • Thanks 1

Share this post


Link to post
Share on other sites
Just now, Drew Dowdell said:

Shady things like charging the company for personal expenses to the tune of millions. Backdoor arrangements to get paid more than the salary cap the board set. Apparently not declaring his proper and full income in Japan to their taxing authority.

Jesus, I just don't get it. It isn't like he's "only" making 100k a year(only being for a exec). Making the exact amount they probably were paying is astronomical amount so why do you need to steal more? If you're that dissatisfied, ask for raises(I know it's a different situation being an executive) or look for a job elsewhere where you feel like you'll be valued better. 

Share this post


Link to post
Share on other sites
3 minutes ago, ccap41 said:

Jesus, I just don't get it. It isn't like he's "only" making 100k a year(only being for a exec). Making the exact amount they probably were paying is astronomical amount so why do you need to steal more? If you're that dissatisfied, ask for raises(I know it's a different situation being an executive) or look for a job elsewhere where you feel like you'll be valued better. 

Sounds like part of his con was using company funds to decorate/maintain 5 houses/apartments in 5 different countries also.  And reporting only $44 mill of income in Japan when it was really $88 mil for 2016 or something like that. 

Share this post


Link to post
Share on other sites
4 minutes ago, ccap41 said:

Jesus, I just don't get it. It isn't like he's "only" making 100k a year(only being for a exec). Making the exact amount they probably were paying is astronomical amount so why do you need to steal more? If you're that dissatisfied, ask for raises(I know it's a different situation being an executive) or look for a job elsewhere where you feel like you'll be valued better. 

He was the CEO of three companies simultaneously... one would think the pay from that would be enough.  I mean, the nicest car he can drive is going to be a QX80, but still, that's not so bad.

Share this post


Link to post
Share on other sites

It does make me wonder... if it was allowed by the company but "if you're caught it's all you" to reduce their income and with that if others were doing the same. 

I wouldn't expect it but you never know.

Share this post


Link to post
Share on other sites
17 minutes ago, Robert Hall said:

Sounds like part of his con was using company funds to decorate/maintain 5 houses/apartments in 5 different countries also.  And reporting only $44 mill of income in Japan when it was really $88 mil for 2016 or something like that. 

So then 5 different woman, one in every port as they say? ;) 😛 

Totally agree, one has to wonder what the hell is wrong with someone that makes more money in a year then 99% of the rest of society and he still needs to steal? 🤷‍♂️

Share this post


Link to post
Share on other sites

Wow.  Product development is dependent on one man's approval? That is really stupid.  Hopefully the new guy will actually fix the product development issues and get the newer Leaf out to market.

  • Upvote 1

Share this post


Link to post
Share on other sites

Nissan was asked about it by auditors in 2013.  The auditors were told everything was copacetic.  It all reeks of a setup.  And the announcement wasn't anything important anyway, the arrest is just an excuse.  Who cares about the Nissan Leaf anyhow?

  • Downvote 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now



  • Social Stream

  • Similar Content

    • By William Maley
      Earlier this week, we reported that Chevrolet wouldn't be showing anything at next month's Detroit Auto Show, deflating the dreams of many that the mid-engine Corvette would finally be revealed. We found ourselves wondering if something happened that caused Chevrolet to rethink their plans.
      GM Authority has learned from sources that a problem with the next-generation Corvette's electrical system has been found. The current system isn't able to carry the load necessary to support the necessary components in the vehicle. This will result in engineers making various changes to the system and suppliers to come up with new parts. This has reportedly pushed back the launch by six months.
      GM Authority does report that this delay shouldn't prevent Chevrolet from launching the mid-engine Corvette as a 2020 model-year vehicle.
      Source: GM Authority

      View full article
    • By William Maley
      Earlier this week, we reported that Chevrolet wouldn't be showing anything at next month's Detroit Auto Show, deflating the dreams of many that the mid-engine Corvette would finally be revealed. We found ourselves wondering if something happened that caused Chevrolet to rethink their plans.
      GM Authority has learned from sources that a problem with the next-generation Corvette's electrical system has been found. The current system isn't able to carry the load necessary to support the necessary components in the vehicle. This will result in engineers making various changes to the system and suppliers to come up with new parts. This has reportedly pushed back the launch by six months.
      GM Authority does report that this delay shouldn't prevent Chevrolet from launching the mid-engine Corvette as a 2020 model-year vehicle.
      Source: GM Authority
    • By William Maley
      Nissan has expanded its probe into former chairman Carlos Ghosn with the investigation into various European subsidiaries that may bring more criminal charges.
      Automotive News has learned from sources that the focus of the investigation will be around the Renault-Nissan BV based in the Netherlands. This was set up by the two automakers back in 2002 to be a strategic management company that oversees the alliance. But one source says that Nissan is planning to look into "as many as a dozen other Nissan-affiliated subsidiaries set up in the Netherlands," for possible financial misconduct. Japanese prosecutors are looking into some of the companies with the help of Nissan.
      (Emphasis mine.)
      This move may signal that the scandal may have reached outward of Japan and bring investigations right to Renault's doorstep. Automotive News also notes this could "further complicate" the delicate relations between the two.
      That neatly transitions us to a report from Reuters where a source reveals that Renault has told Nissan not to contact its directors ahead of a December 13th meeting of their board. The source says "such contact was outside the agreed channels for communication of the sensitive findings."
      As we reported back on Friday, Nissan offered Renault "a presentation that summarized the evidence" to help assuage some suspicious held by the French automaker. Renault declined, asking Nissan for the "presence of lawyers and the full report on the allegations." This reportedly came earlier this week as officials from Nissan met with Renault's legal team in France.
      The meeting tomorrow will see the members of the board discuss the findings of Nissan's investigation and debate the future of Carlos Ghosn.
      Spokespeople for Nissan and Renault declined to comment.
      Source: Automotive News (Subscription Required), Reuters

      View full article
    • By William Maley
      Nissan has expanded its probe into former chairman Carlos Ghosn with the investigation into various European subsidiaries that may bring more criminal charges.
      Automotive News has learned from sources that the focus of the investigation will be around the Renault-Nissan BV based in the Netherlands. This was set up by the two automakers back in 2002 to be a strategic management company that oversees the alliance. But one source says that Nissan is planning to look into "as many as a dozen other Nissan-affiliated subsidiaries set up in the Netherlands," for possible financial misconduct. Japanese prosecutors are looking into some of the companies with the help of Nissan.
      (Emphasis mine.)
      This move may signal that the scandal may have reached outward of Japan and bring investigations right to Renault's doorstep. Automotive News also notes this could "further complicate" the delicate relations between the two.
      That neatly transitions us to a report from Reuters where a source reveals that Renault has told Nissan not to contact its directors ahead of a December 13th meeting of their board. The source says "such contact was outside the agreed channels for communication of the sensitive findings."
      As we reported back on Friday, Nissan offered Renault "a presentation that summarized the evidence" to help assuage some suspicious held by the French automaker. Renault declined, asking Nissan for the "presence of lawyers and the full report on the allegations." This reportedly came earlier this week as officials from Nissan met with Renault's legal team in France.
      The meeting tomorrow will see the members of the board discuss the findings of Nissan's investigation and debate the future of Carlos Ghosn.
      Spokespeople for Nissan and Renault declined to comment.
      Source: Automotive News (Subscription Required), Reuters
    • By William Maley
      If you were hoping that Chevrolet would bring the house down next month with the debut of the mid-engine Corvette at the Detroit Auto Show, we have some bad news for you.
      GM Authority has learned from GM that Chevrolet isn't planning to show anything car or crossover related at the show. Motor Authority was able to confirm this report by speaking to sources who know GM's plans for future vehicles. It is expected that the Cadillac XT6 crossover will debut at the show.
      Rumor has it that GM could debut the mid-engine Corvette at the New York Auto Show - the original 1953 Corvette debuted at the Motorama event that year in New York - or hold its own event to have the media focus on the new model and nothing else. The latter option seems the most likely to us.
      We'll keep you posted if anything changes.
      Source: GM Authority, Motor Authority

      View full article
  • My Clubs

  • Recently Browsing

    No registered users viewing this page.

  • Reader Rides

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×