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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.

2014 Nissan Leaf price climbs $180 to $28,980*, Ghosn predicts sales doubling

A year ago, Nissan changed the fortunes of its all-electric Leaf in the US market by lopping a serious $6,400 off of the price. The entry-level 2012 Leaf started at $35,200, and the 2013 Leaf S instantly became a much better deal since it started at $28,800. For 2014, the trend is in the opposite direction, but only just. The 2014 Leaf S will start at $28,980. The other two trim levels will start at $32,000 for the SV and $35,020 for the SL. Oh well, we can't get a $6k drop every year, can we? What do you get for your extra $180? Well, as described in July, the 2014 model has the rear camera as standard and there is an available voice command navigation system and text message reader. We've got the full specification breakdown and pricing press release below. We doubt the small extra cost will do much to dent the Leaf's current sales upswing. December 2013 was the EV's best sales month ever, and a grand total of 22,610 units in 2013. That's more EVs than Nissan sold in 2011 and 2012 put together. Nissan CEO Carlos Ghosn said earlier today that he thinks US Leaf sales will double, but didn't say when. "We are now on a trend of 3,000 cars a month in the US, which is about 36,000 cars" a year, Ghosn told Automotive News. "The next step is moving up to 4,000 a month, which is going to be approximately 50,000." The prices listed above do not include Nissan's $850 destination fee, but all Leaf EVs can qualify for the $7,500 federal income tax credit, as well as state and local incentives in some areas. NISSAN ANNOUNCES U.S. PRICING FOR 2014 LEAF™ NASHVILLE, Tenn. (January 8, 2014) – Nissan today announced U.S. pricing for the 2014 Nissan LEAF™, which is on sale now at Nissan dealers nationwide. The 100 percent electric LEAF continues to offer outstanding value, with prices comparable to similar gasoline-powered vehicles after applicable tax credits. Sales of the zero emission LEAF in the U.S. and around the world set all-time records in 2013. The 2014 Nissan LEAF is available in three trim levels: LEAF S, SV and SL, along with option packages offering advanced systems such as Around View® Monitor and 7-speaker Bose® audio. Enhancements for 2014 include the addition of the RearView Monitor as standard equipment on all models (previously part of the Charge Package) and one new exterior color – Gun Metallic (seven total available colors).

Suppliers love Toyota and Honda: Why that matters to you

You might think that a survey of automotive suppliers and their relationship with OEMs is the automotive equivalent of nerd prom. In some ways that's what the North American Automotive OEM-Supplier Working Relations Index (WRI) is. The study, the 17th annual conducted by Planning Perspectives Inc., is based on input from 652 salespeople from 108 Tier One suppliers, or, PPI points out, 40 of the top 50 automotive suppliers in North America. Suppliers to General Motors, Ford, FCA, Toyota, Honda, and Nissan. But the results have consequences in terms of tens of millions of dollars for OEMs - and in the quality, technology, and cost of the next vehicle you buy. There are a couple of ways to look at the results of the WRI. One is, "So what else is new?" And the other is, "Damn! How did that happen?" The study looks at five relationship areas — OEM Supplier Relationship; OEM Communication; OEM Help; OEM Hindrance; Supplier Profit Opportunity — within six purchasing areas — Body-in-White; Chassis; Electrical/Electronics; Exterior; Interior; Powertrain. In the overall rankings, Toyota is on top for the 15 th time in 17 years, with a score of 328. Honda, the only company to best Toyota (in 2009 and 2010), comes in second, at 319. Those two companies, explains John Henke, president of PPI, have collaborative working arrangements with colleagues and suppliers alike built into the very fabric of their cultures. This, however, is not a situation where one can readily conclude it is about "Japanese companies," because the third company with headquarters on the island of Honshu, Nissan, came in dead last. This is the "How did that happen?" portion. The Nissan score of 203 puts it 125 points behind Toyota. There hasn't been a number that low since the then-Chrysler Corp. scored 187 in 2010, when the company was clawing its way out of the recession. Clearly, the suppliers don't feel particularly engaged by the buyers at Nissan. Henke explains that whether a company does well or not on the WRI is rather simple. All people do things based on what they're measured on. "If you're measured on taking 10% out of your annual buy, you immediately know how to do it. But if you're also measured on improving relations, suddenly there is a new dynamic as to what you can do to achieve both.