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Carlos Ghosn changes to hotshot attorney and a new defense strategy

TOKYO — Carlos Ghosn's chief defense attorney Motonari Otsuru resigned and was replaced by a team that includes hotshot lawyer Junichiro Hironaka, in a change of strategy from the ousted Nissan Motor chairman three months after his arrest. Ghosn, Nissan's one-time savior, has been held in detention since his Nov. 19 arrest. He's been indicted and accused of under-reporting his salary and breach of trust. He has denied the charges. The once-feted auto executive hired Hiroshi Kawatsu as head of a new defense team, his office said on Wednesday. Hironaka, 73, has won several high profile cases, helping acquit senior lawmaker Ichiro Ozawa and senior bureaucrat Atsuko Muraki. Hiring Hironaka would mean a more aggressive legal strategy, said Nobuo Gohara, a former prosecutor. Otsuru previously led the special prosecutors' office that is now handling Ghosn's case. "Otsuru was miscast. He worked at the heart of the special prosecutors office so he was not someone who was going to go after them aggressively," Gohara said. "Hironaka is an experienced defense lawyer who has won a number of cases. He will mount a more thorough and aggressive defense." Otsuru's office confirmed his resignation in a statement, but gave no reason for the move. A second member of Ghosn's defense team, Masato Oshikubo, had quit, it said. Go Kondo, Ghosn's third defense lawyer, was unavailable for comment. Ghosn released a short statement thanking Otsuru for his team's "tireless and diligent work," and called him a "very capable and intelligent man and lawyer." The sudden change in attorneys comes ahead of the expected start of informal meetings with prosecutors and judges to discuss pretrial preparations, an indication that there will be no new charges against Ghosn. "As we begin the trial phase, I have decided to engage Hironaka-sensei as my legal counsel," Ghosn said, using an honorific suffix. "I look forward to defending myself vigorously, and this represents the beginning of the process of not only establishing my innocence but also shedding light on the circumstances that led to my unjust detention." Ghosn, 64, told the Nikkei newspaper last month that Nissan executives opposed to his plans for closer ties with automaking partner Renault SA had plotted to remove him. Ghosn was widely credited with rescuing Nissan from near-bankruptcy after he was brought over to Japan in 1999 by Renault after the French automaker bought a chunk of Nissan.

A realistic approach to fixing Mitsubishi

There are going to be a lot of words written about what Nissan needs to do with Mitsubishi in the coming months and years in the interest of turning the brand around. After Nissan's purchase of a controlling stake in the diamond star brand, there's been more interest in Mitsubishi thanks to the potential of platform sharing and plenty of cash from Nissan-Renault to get the juices flowing again. But, while some have been doing their best to advocate for the return of the 3000GT, Evolution, and even the Starion - Many of these posts forget the reality of the market we live in today. As much as we like to look back fondly at the sports coupes of the '90s, a byproduct of the insane cash flows all the Japanese manufacturers had at the time, the reality of today puts a much greater emphasis on what is most-boring; Crossover SUVs, alongside mid-size and compact sedans. We do need to ask a fundamental question, how much Mitsubishi is enough to be able to continue to call the cars Mitsubishis? Aside from slight product revisions and reconfigurations, Mitsubishi (at least in North America) has been largely dependent on the same GS platform and 4B1 engines that date back to their long-time partnership with Chrysler (and Hyundai) in the mid '00s. Admittedly, the chassis and engines have served the company well, underpinning a wide variety of vehicles sold around the world, and seeing quite a few revisions to at least attempt to keep products competitive. But, the GS chassis is old, heavy, and severely out of date - and when matched to the underpowered 4B1 series engines - make for largely uncompetitive offerings in the market. While something like the Outlander Sport is indeed interesting compared to a Honda CR-V, it is by no means the smart choice in the segment. So, going forward, unless Mitsubishi has had a skunkworks of sorts developing their chassis and engine replacements over the past few years, what exactly are they planning to do for their bread-and-butter models? I think the straightforward answer is without a doubt the Nissan North America parts bin. With so many of their models selling well, and for the most part, are reasonably well-reviewed, it would be quite simple to adapt the chassis and powertrain to Mitsubishi's liking to create a high-volume alternative to what is currently available now.

Fisker stock trades halted as talks with Nissan collapse

Fisker's talks with a large automaker for a potential deal have collapsed, it said on Monday amid growing uncertainty for the cash-strapped startup that last week paused electric-vehicle production.  Trading in the shares of the company, which did not name the automaker with which it was in talks, has been halted pending an announcement.  Fisker also said it will not be able to meet a closing condition related to its attempt to raise up to $150 million in funding by selling convertible notes after missing an interest payment.  Separately, Fisker said it would ask investors to vote on a proposal for a reverse stock split at a shareholder meeting on April 24, as it looks to maintain compliance with the Nasdaq's listing norms.  Reuters had reported earlier this month that Nissan was in advanced talks to invest in the company, however, earlier in the day, the Japanese automaker held an event in which it announced a long-term business plan, including its EV strategy, and said it was looking for partners in the United States.  Raising funds has been hard for loss-making electric vehicle startups, which have little in way of revenue as they struggle to ramp up production and deliver to customers, as the companies battle stiff competition and a tough economy.  The EV startup's shares have cratered this year, losing more than 90% of their value, after it flagged going concern risk in February and paused investments in future projects until it secured a partnership with an automaker.  Fisker pivoted to a dealer-partner model earlier this year, after it delivered less than half of the vehicles it made in 2023 due to logistics issues.    Earnings/Financials Fisker Nissan