Toshiba Is $6.3 Billion in the Hole

[$tevie]

Toshiba, one of Japan’s most storied companies, is in serious trouble. The company was supposed to report its quarterly earnings on the Tokyo Stock Exchange today, but it never showed up. Instead, it said it wasn’t ready and begged for another month to file.

It then got worse, as the Washington Post reports. The company ended up admitting that it take a $6.3 billion write down related to an acquisition made by its subsidiary, Westinghouse. The chairman of Toshiba, Shigenori Shiga, also resigned, reportedly to “take responsibility for the losses,” according to the Post.
http://gizmodo.com/toshiba-is-6-3-billio...1792342910

[hal]

My god - how much longer can this go on?

[testcase]

Maybe Toshiba should buy Sears........... 8-)

[space-time]

Or Sears should buy Toshiba.

[jdc]

Westinghouse... bad-ump

So does resign = retire? Hes prob got millions from being CEO, and will still get his stock options -- so just live out the rest of you life in peace with family?

[freeradical]

space-time wrote:
Or Sears Kodak should buy Toshiba.

[RgrF]

jdc wrote:
Westinghouse... bad-ump

So does resign = retire? Hes prob got millions from being CEO, and will still get his stock options -- so just live out the rest of you life in peace with family?

The loss of 'face' isn't something money can restore.

[NewtonMP2100]

.....so this Hole.....needs to be filled......???

[Carnos Jax]

There's no glory being in this kind of hole.

[rz]

Carnos Jax wrote:
There's no glory being in this kind of hole.