Michael C. Woodford (shown above), the former CEO of Olympus, says the Japanese technology company is involved in a whole lot of financial hanky-panky. The Olympus board says the 51-year-old British national, the first non-Japanese CEO in the company's history, was a bad manager. But he claims he was forced out when he began asking questions about $1 billion in payments for acquisitions made before he took the reins.
My favorite line in the scandal so far (and remember now, Olympus mostly sells cameras and medical imaging equipment): “There were $800 million in payments to buy companies making face cream and Tupperware,” said Woodford. “What the hell were we doing paying $800 million for these companies?”
More: Financial Times, Bloomberg, New York Times, and here's an internal letter published by the New York Times with Woodford's consent (PDF link).
(via Hiroko Tabuchi, Adario Strange, photo: REUTERS/Yuriko Nakao)
Indiana U is selling off a huge lot of lab equipment, including these space-pod-looking gantries. Winning bidder is responsible for dismantling and shipping. “To give someone an idea of how large these are, there are two pits that they sit in. Each of the pits are 28’x35’x10′ deep.”
Vertu, the “luxury” cellphone maker whose handsets look like drug cartel handguns and are always comically obsolete, went out of business last month, reports the BBC. It is to auction off its inventory. Bids start at $26,000. Thuy Ong: The auctioneer, G J Wisdom & Co, says the phones are a mix of concept models […]
Why we secretly love our cords. Tamara Warren: There’s a certain security in the cord. It’s the idea of connection, perhaps even dating back to our days in the womb. … A battery, no matter how sophisticated, is fleeting. When we have our cords with us, we are in constant pursuit of power, even when […]
The Pry.Me Bottle Opener holds tens of thousands of times its own weight, and you can pick one up now from the Boing Boing Store.This remarkable keychain is considerably smaller than any of your keys, but don’t let that fool you: it can easily open any bottle, and could even tow a trailer full of […]
Guaranteeing your privacy online goes way beyond checking the “Do Not Track” option in your browser’s settings. To ensure that your internet activity is totally hidden from Internet Service Providers, advertisers, and other prying eyes, take a look at Windscribe’s VPN protection. It usually costs $7.50 per month, but you can get a 3-year subscription […]
This project management bundle will help you get organized and learn how to lead a team to success. You can pay what you want for these five courses when you pick them up from the Boing Boing Store.To help you become an invaluable asset for your company, this bundle includes a curated collection of professional […]