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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.

Nissan Juke-R [w/video]

The Other Brother
The handler strapped into the carbon fiber race bucket next to me is the only other person outside of yours truly who looks like he thinks this is a bad idea. I've just finished situating myself in the cabin of the very first Nissan Juke-R ever constructed. There are literally thousands of man hours in this single prototype and only four examples of the car total in the entire world. Each one carries a price tag of around $656,400 at current conversion rates, making this both the rarest and most expensive piece of machinery anyone has ever let me get close enough to sniff, let alone drive.
And that's exactly what I mean to do.

Nissan GT-R drag races Swiss fighter jet

Proving that speed is fun in any language, Nissan's German arm recently pitted a GT-R up against an ex-Swiss Air Force fighter jet, called the Hawker Hunter. Now the idea of a car-versus-plane drag race is nothing new, but this is the first time we can recall a GT-R being involved.
While this Nissan video is almost a month old, we're pretty sure you won't be disappointed by the action, which shows the two high-speed machines racing along the two-kilometer runway. We don't want to ruin the suspense, so scroll down for the latest matchup of sports car versus fighter jet.