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May 24, 2012, 06:15

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Topic: Olympus in trouble? (link)

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Cogent Marketing

« on: October 26, 2011, 16:17 »

#link

http://www.bbc.co.uk/news/business-15458505


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sharpshot

« Reply #1 on: October 26, 2011, 17:25 »

#link

The shares have halved in value. I read that the consumer camera side of the business was losing money before this news broke. It's their medical equipment that makes them money. Going to be interesting to see what happens now. The chart doesn't look very healthy.

http://uk.finance.yahoo.com/echarts?s=OLY1.MU#symbol=oly1.mu;range=3m;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;


« Last Edit: October 26, 2011, 17:27 by sharpshot »	Ignore \| Logged

PaulieWalnuts

« Reply #2 on: October 26, 2011, 18:36 »

#link

Yep. I read the entire deal a couple weeks ago and it looked pretty crooked. They paid $600 million in just advisor fees to some unknown company in the Caymen Islands. Gee, I wonder where that money went...

The CEO covered his a$$ by having PWC do an audit, Olympus fired him, and in return he is exposing the company fraud. Looks like a nicely played game of chess on the part of the CEO.


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