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Carlos Ghosn coup theory grows: Did Nissan set him up for a fall?

'What is fascinating about this story is the politics of it'

Nissan Silvia smuggler faces maximum 20-year, $250k sentence

Thinking about trying to sneak a JDM car into the United States? Better think twice, because according to the Clarion-Ledger, one man in Mississippi has found himself in hot water for smuggling a Nissan Silvia into the country. Few details of the case are available, but the Silvia has a strong following among JDM enthusiasts despite (or perhaps because of) the fact that it was never officially sold Stateside. The low-slung coupe was offered in Japan and other markets from 1964 through 1968 and again from 1974 to 2002. Though it was powered principally with a four-cylinder engine, its front-engine/rear-drive layout made it popular on the tuning and drifting scenes. The 240SX that was offered Stateside was related, but not strictly speaking the same vehicle. It's likely because the Silvia was never certified for use on American roads (and because the culprit apparently didn't go through the correct channels) that the unidentified man in Ocean Springs, MS, is reportedly facing a $250,000 fine and up to 20 years in prison. Here's hoping whatever else he's got in the driveway is just as fast, because it looks like he'll have a lot of time to make up for. News Source: The Clarion-LedgerImage Credit: Copyright 2015 AOL Government/Legal Nissan Coupe import gray market nissan silvia

Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.