Announcement

Announcement Module
Collapse
No announcement yet.

Top

Top Module
Collapse

6% in 2 days, the Livedoor fiasco

Page Title Module
Move Remove Collapse
X
Conversation Detail Module
Collapse
  • Filter
  • Time
  • Show
Clear All
new posts

  • 6% in 2 days, the Livedoor fiasco

    Business as usual in Japan; Horie got caught cheating and now he's taking the stock market for a wild ride down. They closed 20 minutes early today because they hit the safety limit on the number of "sale" orders.

  • #2
    Originally posted by J.E.
    Nice. Last month it was E-homes and now my boy Takafumi Horie is in deep unko. What will it be next month? News has it that Chief Cabinet Secretary Shinzo Abe is somehow involved in this whole E-homes fiasco. The media is going to have a field day with these stories. The bigger they are, the harder they fall.
    Yeah, the sad thing about this mess though is that Horie was seen as the golden child that could lead Japan's stale old business system into the 20th century (notice I didn't say 21st century, one step at a time).

    Comment


    • #3
      Hey guys, um, what actually happened with the whole Livedoor thing? I was just able to catch the end of it on Australian news, and when I was in Japan, Livedoor was rattling all the cages.

      Comment


      • #4
        Originally posted by Luke_Axente
        Hey guys, um, what actually happened with the whole Livedoor thing? I was just able to catch the end of it on Australian news, and when I was in Japan, Livedoor was rattling all the cages.
        Turns out they were doing some shady numbers manipulation....claiming to take over firms they already controlled, creative accounting, etc. to drive up their stock price. It seems completely out of that 80's movie with Martin Shean, Wallstreet.

        I'm surprised it took the govt this long to catch on since it's all been done before in the West.

        Comment


        • #5
          Livedoor and Horiemon's meteoric rise was fishy from the start. Nobody gets to be that powerful and rich by the age of 30 unless they have some serious grafting going on.

          Comment


          • #6
            There are four news helicpters covering his arrival at Tokyo prison!

            Soba

            Comment


            • #7
              Originally posted by Stone-Cold Soba
              There are four news helicpters covering his arrival at Tokyo prison!

              Soba
              I don't know whether to take pleasure in the fact that this arrogant, over-paid, slobbily dressed, fat prick has come crashing down, or bemoan the fact that the old guard of Japan Inc. have just carried out a coup that may well set corporate Japan back 10 years...whaddaya all think?

              Comment


              • #8
                Originally posted by sankokujin
                I don't know whether to take pleasure in the fact that this arrogant, over-paid, slobbily dressed, fat prick has come crashing down, or bemoan the fact that the old guard of Japan Inc. have just carried out a coup that may well set corporate Japan back 10 years...whaddaya all think?
                My thoughts exactly.
                We can all expect things to carry on their merry way; the bigwigs got a bit of a shock from ol Horie before he screwed it up.

                Comment


                • #9
                  Originally posted by agnosto
                  My thoughts exactly.
                  We can all expect things to carry on their merry way; the bigwigs got a bit of a shock from ol Horie before he screwed it up.
                  I think this is more of a sour grapes thing. Back in the 80's Recruit Corp, an up and coming publisher at the time, got slapped hard for breaking the hiring/recruiting rules for university students. The big boss and all involved got prison terms and the company was slapped hard. A year later the rules were rescinded and it became a freeforall of which Recruit couldn't partake due to the fact that their 'brains' were all doing time and they hadn't found anyone to fill the positions.

                  Kyocera had a similar problem back in the 70's, Sony back in the 60's... See the pattern '____disturbers get slapped hard until the old boys can catchup' If the ____disturbers survive the slapdown they go on to better things in the corporate world and let the status quo be.

                  Comment

                  Working...
                  X