[LRflex] OT: Updated: A Big Olympus Scandal! (not percolating)
- From: Richard Ward <ilovaussiesheps@xxxxxxxxxxx>
- To: leicareflex@xxxxxxxxxxxxx
- Date: Tue, 18 Oct 2011 15:04:37 -0400
Update:
I've taken a little more time to digest the supporting articles and the
documents linked to by Mike article on his T.O.P. blog and have decided to
update my post to the group.
Earlier I had the impression Woodford had been fired by Oly over his report on
shenanigans around the practices on the periphery of a billion dollars worth of
the company's business dealings.
With a slight nod to this still being in the 'alledged' stage. (rolling my eyes)
Turns out he had discovered over a Billion Dollars being siphoned off to shell
companies in tax haven island nations. And. He had demanded the resignations of
a number of the companies executives for their involvement in the scheme.
I think most definitely Mr Woodford will be having discussions with Law
Enforcement folks, probably a few Tax folks, too. Maybe even a few class action
lawsuit experts for that matter.
RLW
On Oct 18, 2011, at 1:26 PM, Richard Ward wrote:
> Hi Group,
> very Off Leica Topical, but gossip to good to pass up!
> http://theonlinephotographer.typepad.com/the_online_photographer/2011/10/a-shameful-saga.html
>
>
> I had heard about Olympus suddenly showing their Shiny New CEO Michael
> Woodford the door after less than a year on the photo news/rumor feeds I
> follow.
> WELL! it's looking like he was scuppered for pressing the case that Oly
> Exec's hadn't been practicing good coroporate governance, neigh: even staying
> on the sunny side of the Law with a hash of deals totaling over a Billion
> Clams (U.S.) :-)
> Within days of telling the Chairman of the Board about the situation Michael
> had been fired by an emergency board meeting. Though unfortunately it appears
> Olympus failed to search his person and belongings before (literally) handing
> him a plane ticket for home. He's sharing info, documents, and juicy insider
> tidbits with some big names in the Press. Me thinks he'll be chatting with
> law enforcement types before long, too.
>
> Get the feeling it might be appropriate to buy desirable New Oly Lenses and
> Such before they start to get scarce as new items.
>
> Richard
>
>
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