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Microstock Photography Forum - General => Photography Equipment => Cameras / Lenses => Topic started by: Cogent Marketing on October 26, 2011, 16:17

Title: Olympus in trouble? (link)
Post by: Cogent Marketing on October 26, 2011, 16:17

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

Title: Re: Olympus in trouble? (link)
Post by: sharpshot on October 26, 2011, 17:25

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=; (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=;)

Title: Re: Olympus in trouble? (link)
Post by: PaulieWalnuts on October 26, 2011, 18:36

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.