Olympus chairman resigns amid scandal

"RichA" wrote in message

> http://www.amateurphotographer.co.uk/news/Olympus_chairman_resigns_upd...2_news_
>

Why do you need to start a fresh thread when Bruce already has this
covered?
 >> Stay informed about: Olympus chairman resigns amid scandal 

RichA wrote:
>On Oct 26, 9:50 am, "David J Taylor" <david-
>tay...@blueyonder.co.uk.invalid> wrote:
>> "RichA" wrote in message
>>
>>
>>
>> >http://www.amateurphotographer.co.uk/news/Olympus_chairman_resigns_up...
>>
>> Why do you need to start a fresh thread when Bruce already has this
>> covered?
>
>Didn't see the addition to the other thread in time.


Not a problem. I had to decide whether to add to the previous thread
or start a new one. I did one and you did the other. Either way,
this is a story that will run, and run.

I thought that today's new chairman effectively committed hara-kiri by
attacking Michael Woodford, and that was in his first contact with the
media following his appointment!

Who knows what tomorrow holds?
 >> Stay informed about: Olympus chairman resigns amid scandal 

Bruce wrote:
>I thought that today's new chairman effectively committed hara-kiri by
>attacking Michael Woodford, and that was in his first contact with the
>media following his appointment!
>
>Who knows what tomorrow holds?


More details here in an article from the Financial Times, London:

http://preview.tinyurl.com/68lowc8
or:
http://www.ft.com/cms/s/0/1f013260-ffa7-11e0-89ce-00144feabdc0.html
 >> Stay informed about: Olympus chairman resigns amid scandal 

On Oct 26, 3:30 pm, Bruce wrote:
> Bruce wrote:
> >I thought that today's new chairman effectively committed hara-kiri by
> >attacking Michael Woodford, and that was in his first contact with the
> >media following his appointment!
>
> >Who knows what tomorrow holds?
>
> More details here in an article from the Financial Times, London:
>
> http://preview.tinyurl.com/68lowc8
> or:http://www.ft.com/cms/s/0/1f013260-ffa7-11e0-89ce-00144feabdc0.html

They figure (Olympus board) if they tip over enough dominos
(executives), they'll avoid a criminal prosecution.
 >> Stay informed about: Olympus chairman resigns amid scandal 

On Oct 26, 2:01 pm, Bruce wrote:
> RichA wrote:
> >On Oct 26, 9:50 am, "David J Taylor" <david-
> >tay...@blueyonder.co.uk.invalid> wrote:
> >> "RichA" wrote in message
>
> >>
>
> >> >http://www.amateurphotographer.co.uk/news/Olympus_chairman_resigns_up....
>
> >> Why do you need to start a fresh thread when Bruce already has this
> >> covered?
>
> >Didn't see the addition to the other thread in time.
>
> Not a problem.  I had to decide whether to add to the previous thread
> or start a new one.  I did one and you did the other.  Either way,
> this is a story that will run, and run.  
>
> I thought that today's new chairman effectively committed hara-kiri by
> attacking Michael Woodford, and that was in his first contact with the
> media following his appointment!
>
> Who knows what tomorrow holds?

Maybe formations and dissolution of companies solely for the sake of
taking payments and avoiding taxes is normal, but this seems really
questionable. From one of your links:

Mr Woodford has taken his concerns to the UK’s Serious Fraud Office
and said he was preparing to meet FBI agents looking into aspects of
the Gyrus acquisition on Wednesday. The financial adviser, Axes
Securities, was registered in New York, though it and a Cayman Islands-
registered affiliate appear to have ceased operations soon after
receiving payment from Olympus.
 >> Stay informed about: Olympus chairman resigns amid scandal 

On Fri, 28 Oct 2011 06:16:53 -0700 (PDT), RichA wrote:
: On Oct 26, 2:01 pm, Bruce wrote:
: > RichA wrote:
: > >On Oct 26, 9:50 am, "David J Taylor" <david-
: > >tay...@blueyonder.co.uk.invalid> wrote:
: > >> "RichA" wrote in message
: >
: > >>
: >
: > >> >http://www.amateurphotographer.co.uk/news/Olympus_chairman_resigns_up...
: >
: > >> Why do you need to start a fresh thread when Bruce already has this
: > >> covered?
: >
: > >Didn't see the addition to the other thread in time.
: >
: > Not a problem.  I had to decide whether to add to the previous thread
: > or start a new one.  I did one and you did the other.  Either way,
: > this is a story that will run, and run.  
: >
: > I thought that today's new chairman effectively committed hara-kiri by
: > attacking Michael Woodford, and that was in his first contact with the
: > media following his appointment!
: >
: > Who knows what tomorrow holds?
:
: Maybe formations and dissolution of companies solely for the sake of
: taking payments and avoiding taxes is normal, but this seems really
: questionable. From one of your links:
:
: Mr Woodford has taken his concerns to the UK’s Serious Fraud Office
: and said he was preparing to meet FBI agents looking into aspects of
: the Gyrus acquisition on Wednesday. The financial adviser, Axes
: Securities, was registered in New York, though it and a Cayman Islands-
: registered affiliate appear to have ceased operations soon after
: receiving payment from Olympus.

So is the emerging theory that the payments were simply a money laundering
scheme wherein most of the money found its way back to Olympus executives or
board members, all under the cover of a pending aquisition to make the
payments seem plausible?

Bob
 >> Stay informed about: Olympus chairman resigns amid scandal