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Thread: Olympus financial scandal will mean...?

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    Senior Member RichA's Avatar
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    Olympus financial scandal will mean...?

    Does not look good for them at all. Hari Kiri for the CEO? Honestly, I hope they sell the camera division to some other company rather than dissolve it.

    http://www.dpreview.com/news/1110/11...lyceostory.asp

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    Subscriber Member kit laughlin's Avatar
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    Re: Olympus financial scandal will mean...?

    Hara kiri is the term (literally, "stomach cutting"). Seppuku is another term for this practise

    Interesting link, thanks.

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    Senior Member pellicle's Avatar
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    Re: Olympus financial scandal will mean...?

    execs "fall on their swords" and quietly retreat with some millions in salary and bonus while the workers who did a good job and the engineers who tried to steer marketing away from such folly often just have to find other jobs or tighten their belts.

    sigh

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    Subscriber Member Jorgen Udvang's Avatar
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    Re: Olympus financial scandal will mean...?

    If this is as serious as it looks, and the snowball starts rolling, It's probably only a question of time before Panasonic takes over the camera division. They can't risk that patents that they use in their cameras are sold off to a "hostile" third party.

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    Senior Member pellicle's Avatar
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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by Jorgen Udvang View Post
    If this is as serious as it looks, and the snowball starts rolling, It's probably only a question of time before Panasonic takes over the camera division..
    wouldn't that be funny ... Panasonic selling the Olympus Brand ... wonder if they'd put the lumix badge on it too

    :-))

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    Workshop Member ptomsu's Avatar
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    Re: Olympus financial scandal will mean...?

    Selling the camera devision to some more dynamic company would be a relief! I could not care less about the rest of Olympus personally, but I wish the employees all the best anyway!

    What happened in the past and is still happening in the Oly camera business is a shame, given what they (the engineers) are capable of doing:

    PEN camera system, OM System, E system, ..... all great systems incorporating great ideas but finally died because no proper following up!

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    Re: Olympus financial scandal will mean...?

    Might we be over reacting a bit? It's not like the company has suddenly gotten in worse shape is it? It looks like some of the high up executives may have been corrupt. It looks like the money has been accounted for, so it's not like they've suddenly hit bankruptcy. Hopefully we'll see the old Japanese geezers responsible getting kicked out and some new blood coming in.
    Charles - flickr

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    Workshop Member ptomsu's Avatar
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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by cjlacz View Post
    Might we be over reacting a bit? It's not like the company has suddenly gotten in worse shape is it? It looks like some of the high up executives may have been corrupt. It looks like the money has been accounted for, so it's not like they've suddenly hit bankruptcy. Hopefully we'll see the old Japanese geezers responsible getting kicked out and some new blood coming in.
    Fish always starts smelling from the head.

    Plus - at least as a user I am getting very tired of waiting new blood to come in and doing something better.

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    Subscriber Member Jorgen Udvang's Avatar
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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by pellicle View Post
    wouldn't that be funny ... Panasonic selling the Olympus Brand ... wonder if they'd put the lumix badge on it too

    :-))
    Olympix?

    Nah... they probably aren't interested in the brand. They have their own brands plus Leica, and Olympus is more important for the microscope/endoscope business.

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    Subscriber Member Jorgen Udvang's Avatar
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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by cjlacz View Post
    Might we be over reacting a bit? It's not like the company has suddenly gotten in worse shape is it? It looks like some of the high up executives may have been corrupt. It looks like the money has been accounted for, so it's not like they've suddenly hit bankruptcy. Hopefully we'll see the old Japanese geezers responsible getting kicked out and some new blood coming in.
    That depends. The shares seem to be in free fall, and with a new board who's main task will be to focus on profitable core business, the not-so-profitable camera business is a very obvious candidate for chopping.

    Then on the other hand, I don't know much about Japanese business, so maybe it'll be business as usual in a couple of months

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    Workshop Member ptomsu's Avatar
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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by Jorgen Udvang View Post
    Olympix?

    Nah... they probably aren't interested in the brand. They have their own brands plus Leica, and Olympus is more important for the microscope/endoscope business.
    Unfortunately I think you are very right! I almost am sure Olympus Camera will disappear.

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    Senior Member pellicle's Avatar
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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by Jorgen Udvang View Post
    Then on the other hand, I don't know much about Japanese business, so maybe it'll be business as usual in a couple of months
    well, falling share prices has been business as usual for Japan for some 10 or more years already ...

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    Subscriber Member Jorgen Udvang's Avatar
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    Re: Olympus financial scandal will mean...?

    Here's the interview with the British guy:
    http://www.ft.com/cms/s/2/87cbfc42-f...#axzz1aoDOz2gc

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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by pellicle View Post
    well, falling share prices has been business as usual for Japan for some 10 or more years already ...
    Up to 40-45% in just weeks or even days?

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    Senior Member pellicle's Avatar
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    Re: Olympus financial scandal will mean...?

    Quote Originally Posted by emr View Post
    Up to 40-45% in just weeks or even days?
    keep your arms within the ride at all times


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