[LRflex] OT: Yikes!Still more on the Olympus Scandal.
- From: David Young <dsy@xxxxxxxxxxxxxxx>
- To: LRflex <leicareflex@xxxxxxxxxxxxx>
- Date: Thu, 15 Dec 2011 08:54:35 -0800
For those following the Oly scandal... today's developments....
1) [Olympus] filed five years' worth of reports on Wednesday, just three hours
before a deadline set
by the Tokyo [stock] exchange. However, Olympus's stock fell 20.8% on Thursday
as investors worried
that the company may be running short of cash.
2) The firm's embattled president also said he would consider re-hiring former
[CEO] Michael
Woodford.
3) Olympus this week revealed a cash crunch that has left the company with a
capital adequacy ratio
of 4.5%, versus the 30% or so that is more common for the industry. "Capital
adequacy ratio is a big
problem, and we are considering how we can overcome it," he said in a press
conference on Thursday.
"We are considering various options, including a capital tie-ups and
operational or sales tie-ups,"
he added.
4) Issuing shares to a "strategic" buyer is one option to increase capital,
Mr. Takayama said at a
Thursday news conference here. Olympus would favor buyers with whom it could
tie up in sales or
operations, he said, stressing that nothing is decided.
Does this imply there is an opening for Leica's Hr. Kaufmann and his
"Blackstone millions"?????
If yes, I suspect if might be the salvation of both firms. Oly would get money
and access to some
superb engineers & optical designers. Leica would get access to Oly's low
cost, China manufacturing
base.
For more, simply Google "Oly Scandal". There's lots!
Cheers!
David.
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