Olympus shareholders meeting today, April 20th

Started Apr 20, 2012 | Discussions thread
boggis the cat
Veteran MemberPosts: 6,284Gear list
Re: Treading water
In reply to MichaelKJ, Apr 23, 2012

MichaelKJ wrote:

Meanwhile the western press are pointing out Japan's corporate governance issues while conveniently forgetting the lack of consequences arising from the 2008 banking meltdown.

What makes you think the western press has forgotten the banking meltdown? It was recently front page news when Citibank's shareholders rejected the BOD's recommended CEO pay increase.

They advised the BOD not to give the CEO the pay increase, you'll find.

Citibank's shareholders only have advisory powers.

So, they have suggested that the CEO shouldn't be given more of their money by his friends on the BOD.

(No problem with corporate governance, there.)

I guess you've never heard of the saying two wrongs don't make one right.

Sure. What is your point?

Olympus (a Japanese corporate) get caught out playing a "hide the money hole" game while they try to fill it back in, out of sight. There are serious consequences.

Lehman et al deliberately create a massive fraud that nearly derails the global economy and has had a terrible impact on a large chunk of the US populace in particular. There are no real consequences.

(And no, further consolidation via mergers is not a consequence of any merit. The thieves still got to keep what they stole, and they are still in business, and they have not changed their business practices . But hey, look at those stupid Japanese with their non-western and thus inferior corporate governance model...)

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