Corporate Japan Wants Less Oversight In the Wake of the Olympus Scandal
The Olympus scandal that rocked the business world last year was one of the biggest cases of …
The Olympus scandal that rocked the business world last year was one of the biggest cases of …
It seems like Kodak is having a hard time figuring out how to getting its finances back in the black. Kodak has announced its 3rd quarter financial results, and the numbers aren't pretty -- they're downright ugly, actually. Despite raking in $1 billion over the three-month period ending in September (down 19% from the same period last year), the company still posted a net loss of $312 million (up from a loss of $222M during the same period last year).
Canon released its quarterly financial results yesterday, and things aren't looking so rosy based on Q3 2012. Revenue has fallen 13% to $10.3 billion from the same period last year, and profit dropped 42% to $908 million.
In the market for a new photo printer and not sure what to buy? Here's a tip: shelling out a little more dough on the printer itself could potentially lead to massive savings over time.
The reason is ink, sometimes called "black gold" (or... "colored gold"?). The general rule of thumb in the printer industry is: the cheaper the printer, the more expensive it is to keep it filled with ink.
It looks like the Olympus financial scandal is finally coming to an end. It has been nearly a year since it came to light that there were massive cases of fraud and coverups going on in the upper echelons of Olympus management. What started as a CEO's firing quickly spiraled into one of the biggest scandals to ever hit corporate Japan -- the country's equivalent of the US' Enron fiasco.
In the end, a number of the company's top executives were arrested after submitting their resignations. The trials for those former bigwigs are only now starting to get underway. Three of them, including former chairman Tsuyoshi Kikukawa (pictured above), pleaded guilty today to charges of falsifying accounts and covering up more than $1 billion in losses. The camera company itself also filed a guilty plea.
They say that when it rains it pours, and nowhere is that more evident than with the troubled, once-great photography company Kodak. After filing for bankruptcy, narrowing its focus to printers, and selling the Kodak Gallery for pennys on the dollar, we sort of hoped the company would start to see some rays of sunshine break through their perpetual cloud cover. Unfortunately, their quarter's earnings report is anything but sunny.