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New allegations against Ghosn concern payments to Saudi businessman

BEIJING – Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn center on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. Prosecutors arrested Ghosn for a third time on Friday, accusing him of aggravated breach of trust in transferring personal investment losses to the automaker. The prosecutors' statement said they believe that around October 2008, Ghosn was trying to deal with losses on paper of 1.85 billion yen ($16.6 million) incurred on a swap contract he had with a bank which it did not name. A person helped arrange a letter of credit for Ghosn and a company run by the person later received $14.7 million in Nissan funds in four installments between 2009 and 2012, the statement said, adding that the payments were made in Ghosn's and the person's interests. "By doing so, (Ghosn) behaved in a way that breached trust, and inflicted damage on the property of Nissan," the statement said. The statement also said Ghosn had earlier sought to have Nissan shoulder the appraisal losses directly. According to the Nissan sources who have knowledge of the company's probe into its former chief, the person who helped Ghosn is Khaled Al-Juffali, vice chairman of one of Saudi Arabia's largest conglomerates, E. A. Juffali and Brothers, and a member of the board at the Saudi Arabian Monetary Authority. He is also majority owner of a company called Al-Dahana which owns half of a regional joint venture called Nissan Gulf with the other half held by a wholly owned unit of Nissan Motor. Sheikh Khaled Juffali has no comment on this subject, according to an emailed statement from E. A. Juffali and Brothers. Ghosn's Tokyo-based lawyer, Motonari Otsuru, was unavailable for comment on this article, according to a person who answered the phone at his law office. A representative for the Ghosn family declined to comment. Other media have said Ghosn has through a lawyer denied that he shifted losses to Nissan and has told investigators that the four payments were for legitimate business purposes, including a reward for handling problems at Nissan dealers in Saudi Arabia. Tokyo prosecutors declined to comment. Asked about Ghosn's reported comments, a Nissan spokesman said: "We cannot comment on matters related to Ghosn's arrest for breach of trust.

Nissan won't downsize the next Armada

The Nissan Armada is aptly named, because in relative automotive terms, it's not just the size of a ship - it's the size of a whole fleet. And that, according to reports, isn't about to change.
While many of the larger SUVs on the market are gradually being phased out or replaced by smaller crossovers, Nissan apparently plans on keeping the Armada right where it is. And that means a large, truck-based, eight-passenger colossus, because there are buyers out there who expect no less and Nissan isn't about to lose them to the likes of the Toyota Sequoia, Ford Expedition and Lincoln Navigator, or a General Motors lineup that includes the Chevy Suburban and Tahoe, GMC Yukon and Cadillac Escalade.
That doesn't mean that the next Armada - which Edmunds expects will arrive in 2015 or 2016 - will be immune to constricting environmental regulations, so Nissan will have to get creative. A vehicle the size of the Armada has all the aerodynamic efficiency of the side of a barn, but Nissan is reportedly aiming to streamline that in order to boost efficiency, for starters.

2015 Nissan Altima pricing released, V6 gets MPG bump

Nissan has announced a range of moderate enhancements for its 2015 Altima sedan, starting with a one-mile-per-gallon increase in the highway fuel economy of the top-tier, 3.5-liter V6 engine. The six-pot now returns 32 mpg on the highway and 22 mpg in the city.
The 3.5 SV and 3.5 SL, the mid and top-end six-cylinder trims, also get NissanConnect with Navigation, blind-spot monitoring and lane departure warning. Prices, though, see a commensurate increase.
The starting price for a base, 2.5-liter four-cylinder Altima has been nudged up by $130, to $22,300, not counting the $810 destination charge. The 2.5 S model is down $130, though, to $22,560. Meanwhile, the top-end four-cylinder models, the SV and SL see their prices increase by $380 and $230, respectively.