Oooops, Olympus...

[Jorgen Udvang]

http://www.ft.com/cms/s/2/87cbfc42-f612-11e0-bcc2-00144feab49a.html#axzz1aoDOz2gc

 

[ptomsu]

If this is really true then shame on this company.

 

[raist3d]

If this is really true then shame on this company.

It is true. Moreover, Olympus accused the ousted CEO for saying it was twice the amount they paid (still bad) but today they came out admitting he was right:

http://in.reuters.com/article/2011/10/19/idINIndia-59980220111019

The whole thing has gotten worse and worse. In three days Olympus lost about 3.2 Billion USD market cap (stock plummeted -43%, sitting at about/around -46% by today).

The sad thing is there are hardworking clever people working at Olympus and they have to see their workplace go through this.

- Raist

 

[raist3d]

This has gone way way big. Here's the latest interview:

http://insider.thomsonreuters.com/l...jYjA4Ni1mZmU0LTQ4ZmEtOTAxYy1jZTQxNzAzZDE4NDY=

He went to the Japanese SEC (well sent a communicate) to press to investigate. Olympus biggest investor pressuring Olympus to explain.

This is obviously so rotten by now. The big question what is going to happen. There's also fear now the company is setting itself up for a hostile takeover as it shares continue to fall (now at near -50%).

- Raist

 

[Terry]

It also puts the company in play for a takeover

http://www.businessweek.com/news/20...edical-unit-seen-luring-bidders-real-m-a.html

 

[raist3d]

It also puts the company in play for a takeover

http://www.businessweek.com/news/20...edical-unit-seen-luring-bidders-real-m-a.html

It would be beyond surreal if Hoya ends up buying them.

- Ricardo