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Carlos Ghosn launches initiative to help his native Lebanon

BEIRUT — Former Nissan Motor Co. Chairman Carlos Ghosn made a new public appearance in Lebanon Tuesday during which he launched an initiative with a local university to help the country that is undergoing a severe economic and financial crisis. It is GhosnÂ’s second appearance in public since he was smuggled from Japan in late December to his ancestral Lebanon. In early January, Ghosn gave a news conference in Beirut saying he fled because he could not expect a fair trial, was subjected to unfair conditions in detention and was barred from meeting his wife under his bail conditions. Ghosn declined to elaborate about the details of his arrival in Lebanon, saying it happened in “dramatic circumstances” and also refused to answer questions regarding two Americans who allegedly helped him flee Japan to Lebanon through Turkey. He also refused to talk about former Nissan executive Greg Kelly, who is standing trial in Japan. Ghosn said that the initiative with the Maronite Christian Holy Spirit University of Kaslik, USEK, titled "Moving Forward," aims to launch a top executive management program, a training center on new technologies and to support startups. “The objective is obviously serving this institution ... but also serving the country and the society,” Ghosn said in an opening speech. “If there is one specific thing that Lebanon needs it is create jobs.” “When we are developing top management, we are developing people strong enough to carry companies through this difficult time, to grow a company and to create jobs,” Ghosn said. Lebanon is mired in the countryÂ’s worst economic and financial crisis in its modern history. It defaulted on paying back its debt for the first time ever in March, and the local currency has collapsed, leading to hyperinflation and soaring poverty and unemployment. Talks with the International Monetary Fund on a bailout package have stalled. The economic and political crisis deepened after an Aug. 4, blast in Beirut that killed and wounded many and caused damage worth billions of dollars. Many Lebanese consider Ghosn as one of the countryÂ’s heroes in the diaspora who succeeded in turning troubled car companies in France and Japan into profit making ventures. Some have suggested that Ghosn should be given a governmental post in Lebanon to get the country that is notorious for corruption and mismanagement out of its troubles.

NHTSA releases updated Takata airbag recalled cars list, but it still has errors

Unfortunately, the government's list still contains errors.
The National Highway Traffic Safety Administration has issued an updated list of vehicle models that it's urging owners to repair under the mushrooming Takata airbag inflator recall. The latest version adds vehicles from new automakers like Subaru and Ford that are missing from the original announcement, and it also removes erroneous entries from General Motors, leaving only the 2005 Saab 9-2X (a reskinned Subaru WRX), and the 2003-2005 Pontiac Vibe, a joint project with Toyota.

Mitsubishi Motors shareholders approve ouster of Ghosn

TOKYO — Mitsubishi Motors Corp. shareholders approved on Friday the ouster of Carlos Ghosn, who was pivotal in the Japanese automaker's three-way partnership with Nissan and Renault until he was arrested on financial misconduct charges last year. The vote took place in a two-hour general meeting of shareholders at a Tokyo hotel. Nissan Motor Co. owns 34% of Mitsubishi Motors. Osamu Masuko, who was reappointed chairman, promised to strengthen governance and transparency and monitor wrongdoing. More outsiders will check executive appointments and compensation, he said. Nissan shareholders held an extraordinary shareholders' meeting in April to oust Ghosn as chairman. He resigned from French alliance partner Renault SA. The Mitsubishi shareholders also approved the appointment of Renault's chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43% of Nissan. Nissan, based in the port city of Yokohama, is holding a general shareholders' meeting next week to approve other measures, including setting up committees to strengthen governance. Nissan said late Thursday two Renault executives will be on the committees. Renault earlier said it would abstain in that vote, and the greater representation promised on the committees may gain Renault's approval. Renault said in a statement that it welcomed Nissan's decision but did not say how it planned to vote. "The agreement reached on Renault's presence in Nissan's new governance confirms the spirit of dialogue and mutual respect that exists within the alliance," it said. Some analysts suggest a deepening rift between Renault and Nissan after a planned merger between Renault and Fiat Chrysler fell through earlier this month. Nissan expressed reservations about immediately joining the merger. Masuko told shareholders the auto industry faced challenges because of the costs of advancements such as emissions standards and self-driving technology. He said the Tokyo-based automaker will pursue focus over expansion, repeatedly highlighting the company motto "small but beautiful." He also stressed the importance of auto alliances. "We want to be a profitable company even if smaller in scale," he told shareholders. One Mitsubishi Motors shareholder expressed anger over the Ghosn scandal. But most of the questions were about new models and market strategy.