2002 Nissan Frontier Xe Crew Cab Pickup 4-door 3.3l 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.

GT-R takes on Altima V8 Supercar and Leaf Nismo in Nissan time attack special

One of the support races for the Clipsal 500 V8 Supercar race in Australia was a Nissan showcase in the form of a time attack challenge: at the starting line were the Nissan Leaf Nismo RC, a GT-R and an Altima V8 Supercar. The 80-kilowatt Leaf Nismo RC was given a seven-second head start on the 545-horsepower GT-R and a 26-second lead on the 600-hp Altima V8 Supercar in hopes that it could get around the 3.21-kilometer course first.
Nissan's not afraid to burn the Leaf Nismo RC's rubber at the track, recently letting video series Translogic hit the kerbs, and it's put it up against some competition, having raced a Tesla Roadster - and lost. The odds were a bit better this time, but it wasn't the finish the hosts expected. Now a race commentator, the driver in the GT-R, Neil Crompton, finished on the podium of the Toohey's 1000 race in an R32 GT-R in 1992.
You can watch the hard-fought time attack in the video below. Skip ahead to 3:43 if you just want the action, but Crompton's recap of every driver interview ever is worth a watch at 2:41.

Japan court adds 10 more days to Ghosn's detention

A Japanese court on Sunday extended for 10 days the detention of ousted Nissan chairman Carlos Ghosn, who is facing new allegations of making the car maker shoulder $16.6 million in personal investment losses. The extension announced by the Tokyo District Court means Ghosn will remain in Tokyo's main detention center, where he has been confined since his arrest last month on initial allegations of financial misconduct. Ghosn was re-arrested on Friday based on suspicions that around October 2008 he shifted personal trades to Nissan to make it responsible for 1.85 billion yen ($16.6 million) in appraisal losses, prosecutors said. They said the move inflicted damage on Nissan by having it deposit a total of $14.7 million on four occasions between June 2009 and March 2012 into a related bank account. (Reporting by Daniel Leussink; editing by Darren Schuettler)Related Video: Government/Legal Hirings/Firings/Layoffs Nissan Renault