1998 Mitsubishi 3000gt Base Coupe 2-door 3.0l on 2040-cars

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Nissan board meets but doesn't pick a replacement for Ghosn

YOKOHAMA, Japan — Nissan's board met Monday but failed to pick a new chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations, saying more discussion was needed. Nissan Motor Co. Chief Executive Hiroto Saikawa told reporters that the board approved a special committee of outsiders to strengthen governance at the company. A date for the selection of a chairman was not decided. "We plan to be cautious in this process, and I do not plan to rush this," Saikawa said. The recommendations for beefing up governance are due in March, and Saikawa said he was willing to wait until then to choose a chairman. The board meeting came amid an unfolding scandal that threatens the Japanese automaker's two-decade alliance with Renault SA of France and its global brand, and highlights shoddy governance at the manufacturer of the Leaf electric car. Related: Carlos Ghosn coup theory grows: Did Nissan set him up for a fall? Ghosn and another board member Greg Kelly were formally charged last week with falsifying financial reports in underreporting Ghosn's income by about 5 billion yen ($44 million) from 2011 to 2015. They were arrested Nov. 19 by Tokyo prosecutors and remain in detention. A source close to Ghosn's family says Ghosn is innocent, as the alleged income was never decided upon or paid. Aubrey Harwell, the U.S. lawyer for Kelly, an American, says he is innocent, and that Nissan insiders and outside experts had advised him that the financial reporting was proper. The chairman must be selected from among the board members. Three outside board members — race-car driver Keiko Ihara; Masakazu Toyoda, an academic; and Jean-Baptiste Duzan, formerly of Renault — are making that decision. The special committee for governance includes the three outside board members and four other outsiders, including former judge Seiichiro Nishioka. One candidate for chairman is Saikawa, who was hand-picked by Ghosn to succeed him as chief executive. He has denounced Ghosn and Kelly as the "masterminds" in a scheme to falsify income reports and abuse company money and assets. Renault has kept Ghosn as chief executive and chairman, saying its investigation has not found wrongdoing in the awarding of Ghosn's compensation. Saikawa called on directors at Renault to heed its reasons for sacking Ghosn, but Renault's interim chairman Philippe Lagayette said on Friday that its board had not considered a replacement.

Pristine, time-traveling 2006 Mitsubishi Evo sells for $138K

Remember that never-sold 2006 Mitsubishi Lancer Evolution we told you about last week? The one with 9 miles on the odometer, its seats wrapped in plastic and never titled? And that had already earned a bid of $100,100 on eBay? Well, that Evo has now sold for a hair under $138,000, Road and Track reports. That's $100,000 over its original sticker price of $37,094. The seller was South Coast Mitsubishi in Orange County, Calif., which one Reddit user claims has stockpiled multiple Evos and sold them off at a premium. This high-fetching Evolution is an IX MR model in Graphite Gray with black trim, a six-speed manual, all-wheel-drive transmission. It's optioned with the MR package that includes some aluminum and carbon-fiber bits and boost-gauge kit, plus the Zero Lift aero kit. Under the hood is a 2.0-liter, 16-valve inline four-cylinder, 286 horsepower engine with 289 pound-feet of torque. It can do 0-to-60 in 4.4 seconds. The car's production run ended with the 2015 model year. The car fielded a total of 80 bids, which started at $30,000. Related Video: News Source: Road and TrackImage Credit: eBay Weird Car News Mitsubishi Sedan eBay

Carlos Ghosn's jail time extended, as family says he was framed

TOKYO — Former Nissan chairman Carlos Ghosn will be detained at least through Jan. 11, the Tokyo District Court said Monday, as the once-revered auto industry figure faces allegations that have marked a stunning downfall. Ghosn, who led Nissan Motor Co. for two decades and helped save the Japanese automaker from near bankruptcy, was arrested Nov. 19 on suspicion of falsifying financial reports. He also faces a breach of trust allegation, for which his detention had been approved previously through Jan. 1. The Tokyo District Court said in a statement that it had approved prosecutors' request for a 10-day extension. Ghosn has been charged in the first set of allegations, about under-reporting Ghosn's pay by about 5 billion yen ($44 million) in 2011-2015. Related: Top 10 automotive stories of 2018 Those close to Ghosn and his family say he is asserting his innocence as the alleged underreported amount of money was never really decided or paid, and Nissan never suffered any monetary losses from the alleged breach of trust. It is unclear when Ghosn may be released on bail. Tokyo prosecutors consider Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, a flight risk. In Japan, formal charges can mean a suspect will get detained for months, sometimes until the trial starts, because of fears of tampered evidence. Some experts are puzzled that the allegations against Kelly and Ghosn are about underreporting income from Nissan. Nissan is in charge of filing such financial reports, not individual executives. Over the weekend, The New York Times published an article, "The Rise and Fall of Carlos Ghosn," describing his arrest as well as his almost legendary ascendance as the outsider who saved Nissan: "He was a person who was above the clouds," said one Nissan employee. But it's clear from the article that his autocratic style has long rankled the Japanese. In a sidebar, the NYT also covered accusations from Ghosn's daughters that Nissan had set him up for a fall, part of a mutiny against his explorations of a merger between Nissan and Renault. They point out that Hiroto Saikawa, the chief executive of Nissan, complained about the nature of the alliance in the first news conference following Ghosn's arrest. "Wow," daughter Caroline Ghosn said. "He didn't even waste a breath. He didn't even try to cover up the fact that the merger had something to do with this." The NYT articles included Ghosn family photos showing a softer side to the stern auto executive.