Immaculate Mistubishi 3000gt Vr-4 62,000 Original Miles on 2040-cars

Auto blog

Carlos Ghosn: What misconduct is he accused of?

TOKYO — Japan was shocked by news that Nissan Motor Co. Chairman Carlos Ghosn, who was widely respected for rescuing the carmaker from near bankruptcy, was arrested on Monday for alleged financial misconduct. Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday. What is Carlos Ghosn accused of? Nissan CEO Hiroto Saikawa told a packed press conference on Monday night that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to the Tokyo Stock Exchange. Another board member, Greg Kelly, was also deeply involved in the misconduct, Nissan said. Saikawa said he couldn't elaborate as the cases are being investigated by prosecutors, who have declined to comment. Prosecutors said that Ghosn and Kelly conspired to understate Ghosn's compensation over five years starting in fiscal 2010 as being about half of the actual 9.998 billion yen ($88.9 million). Public broadcaster NHK said Nissan paid billions of yen to buy and renovate homes for Ghosn in Rio, Beirut, Paris and Amsterdam, citing unnamed sources. The properties had no business purpose and were not listed as benefits in TSE filings, NHK said. Ghosn, 64, has not been formally charged. The Asahi newspaper reported that he and Kelly had submitted to prosecutors' questions after getting off a plane on Monday afternoon at Tokyo's Haneda Airport. Saikawa confirmed they had been arrested. Ghosn and Kelly have not been seen since, and their exact whereabouts are not known. Suspects are typically taken to the Tokyo Detention Center, which is linked to the Tokyo District Public Prosecutors Office. How did this come to light? Nissan's Saikawa said Ghosn's alleged improprieties came to light through a whistleblower, after which the company began an internal investigation and informed prosecutors. Japanese media reports say the informant is a member of Nissan's legal department. The Asahi reported, without citing sources, that the informant gave the prosecutors information in a plea bargain, implying the person may have provided evidence in exchange for a lighter sentence. How much control did Carlos Ghosn have? After becoming CEO of struggling Nissan in 2001, Ghosn was hailed as the automaker's savior by implementing an aggressive cost-cutting plan.

2014 Pikes Peak Hill Climb: Practice Day 3

Greg Tracy's MiEV Evolution III topped the time sheets almost 14 seconds ahead of third-place Monster Tajima.
On Thursday, qualifying times for six categories were set on the bottom-section switchbacks of Pikes Peak: Electric Modified - near-unlimited showcases of electric-vehicle engineering; Electric Production - electric vehicles "readily available to the public;" Open Wheel - single engine, open wheeled, open cockpit, single seat vehicles; Open - based upon a production or approved-aftermarket-replica vehicle; Exhibition - a prototype or pre-production vehicle limited to one year of eligibility in this class; and Vintage - vehicles and drivelines from 1990 or earlier.

Mazda, Mitsubishi, and Subaru expand global Takata recalls by 715k [UPDATE]

UPDATE: Subaru of America spokesperson Michael McHale tells Autoblog that the company is recalling 78,000 Imprezas from the 2004 and 2005 model years in the US. This is a national expansion of the company's previous regional recall for the Impreza. The Takata airbag inflator recall just keeps growing. The latest expansion encompasses 715,000 vehicles from Mazda, Mitsubishi, and Subaru. Many of the affected models are in Japan. The largest expansion from these three automakers comes from Mitsubishi. According to Reuters, the company is adding 100,000 vehicles in Japan and 412,000 outside of the country without identifying any specific regions. Mazda is issuing safety campaigns for 112,000 vehicles in Japan, and some of these include models that the company produces there for Mitsubishi and Nissan, according to Reuters. In statement to Autoblog (embedded below), Mazda said that it is still evaluating the situation in terms of a possible effect on the US. Finally, Subaru is calling in 91,000 Imprezas in Japan. At this time, it isn't clear whether Mitsubishi's or Subaru's expansions affect the United States, but Autoblog has reached out to them for more information. According to research by the National Highway Traffic Safety Administration, exposure to moisture can cause the propellant in these inflators to ignite too quickly and cause these dangerous ruptures. Takata has also been investigating the problem. Related Video: Mazda statement "We are aware of the NHTSA/Takata announcement, and are evaluating the effects of it on Mazda. As soon as we have had a chance to fully evaluate the situation – number of vehicles affected, age of those vehicles, where they're located, etc. – we will be able to share those details."