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Renault Chairman Carlos Ghosn arrested over “misconduct”
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Posted By: Editor   |  20 Nov 2018   |  8:36 pm GMT  |  117 comments

The architect of Renault’s return to F1, chairman of Renault & Nissan Carlos Ghosn, has been arrested in Japan and is facing accusations of financial misconduct, Nissan have confirmed.

According to reports from Japan, an internal Nissan investigation revealed that “over many years both Ghosn and [another senior executive Greg] Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation.”

Nissan added: “Numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly’s deep involvement has also been confirmed.”

(L to R): Jerome Stoll (FRA) Director of Renault Sport F1 and Carlos Ghosn (FRA) Chairman of Renault.

One of the leading figures in the automotive industry, Ghosn rose to fame for turning around the financial fortunes of Nissan and Renault, before overseeing the creation of the Nissan-Renault-Mitsubishi Alliance, the second-biggest car manufacturer behind the Volkswagen Group.

However, Japanese media have reported that he has under-reported earnings of around 5bn yen (£34m) over a five-year period from 2011.

“Too much authority was given to one person in terms of governance,” he told reporters at Nissan’s headquarters in Yokohama,” said Nissan CEO Hiroto Saikawa.

“I have to say that this is a dark side of the Ghosn era which lasted for a long time.”

“Beyond being sorry I feel great disappointment, frustration, despair, indignation and resentment.”

With shares in Nissan, Renault and Mitsubishi all falling, Nissan have reacted by announcing that they will fire Ghosn from his position this week. Renault and Mitsubishi are likely to do the same, with the former now under pressure from the French state, who own 15% of Renault.

This has prompted calls from French President Emmanuel Macron to observe the situation closely: “The French government will remain extremely vigilant regarding the stability of the alliance, the (Renault) group and… its employees, who have the full support of the state.”

Whilst the removal of Ghosn from his position at Renault will have no immediate outcome on Renault Sport’s motor racing activities, there will inevitably be some concern at the team’s Enstone base about the loss of a key supporter of their programme.

By: Luke Murphy

All images: Motorsport Images

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1

Lots of dodgy dealings in Japan. Remember the Olympus scandal?

As for Nissan , Renault saved them and fixed them up nicely into a top car maker.

Gnosh would have no trouble being the bigwig at one of the other car makers as there

seem to be few top bosses out there.

As for F1 there is no reason for the renault team to suffer. If Nissan want out they would pay Renault many billions.

2

What the hell is wrong with wealthy people…???

3

If only we knew, and had a cure, nearly all of the problems on this planet would vanish in a heartbeat.

4

Amen

5

Happened to do a ‘spot the criminal’ test the other day: https://www.dailymail.co.uk/news/article-3980130/So-s-goodie-baddie-really-tell-wrong-just-face-s-lips-eyes.html

“So, who’s the goodie… and the baddie? How you really CAN tell a wrong ‘un just by their face (and it’s all down to their lips and eyes)

• Experts think you may be able to identify a criminal by looking at their face

• Chinese software can be used to identify person who has committed crime

• The faces of general law-biding public have a greater degree of resemblance compared with the faces of criminals, or criminals have a higher degree of dissimilarity in facial appearance than normal people

 ➡️ But how good are you at identifying the criminals from these portraits?”

I was bang on 7 out of 8 times!

Got it all wrong at Renault though. My money was on Abiteboul being the criminal. Or do you suppose there’s more than one?

6

Most lower and a good amount of working class people have that look. I’ve been saying this for years. They are trapped within their socioeconomic group. A good looking lower/working class person can get dragged up but since the industrial rev, a subspecies has begun to evolve. Lets see what the lower/work class look like in 5000 years.

Stay in school. Drag yourself up.

7

We can’t really say he’s been naughty. What does “misconduct” even mean. The word is a bit ambiguous.

Speeding in the pitlane, then were talking big league crime, Todt would be very upset

8

arrest mean suspect. only found guilty makes him a criminal so i don’t understand why fans are jumping to conclusions. not different from the use of practice results to predict qualifying and race outcomes..

9

Oh dear back to Lotus again

10

I opened up my news feed this morning to find this article and directly below it was one on the same topic by Joe Saward. My finger hovered above the ipad as I pondered “as a loyal JAonF1 fan for 13 years do I go with that or click on the other article that I’m sure will give me more insider info but I really don’t like Joe’s ‘arrogant, I’m the victim style.

Well I went for JA first, but then went to Joe for more clarification.. this is an excellent opportunity for luke to learn from an old hand.

The No.1 reason for putting this article in this blog is because of concern that a drop in share price would result in the top brass canceling the Renault F1 program …. but this was just fobbed of with ‘a keep moving… nothing to see’ quote from the PR.

Maybe Luke could do a bit of ringing around to get the inside story like Joe did.

Anyway it looks like the real reason Ghosn is in trouble and not being supported like the board usually would, is because Renault wants him out… apparently Nissan has a heap of cash and was going to make an offer to buy Renault out completely at his is how Reno is protecting itself.

11

@AK – I understand it the other way around: Nissan (and Japan Inc.) would have more to lose in the mooted merger with Renault. So in theory they would have more to gain from the Ghosn hit-job.

Aside from the F1 implications, it will be fascinating to see how it plays out, and I doubt we’ve seen the last of Ghosn…

12

Hi Redline, yes i think you’re quite correct… I’ve dug a little further and you’re on the money

cheers

A. Knutt

13

Renault have announced that Carlos is going to stay on as CEO probably pending the matter being fully investigated. So nothing to worry about for the Renault F1 team including its customer team McLaren.

But in the extremely, extremely unlikely event of it ceasing operations over the winter Danny Ricc with 70 million in his bank account would find himself as the highest paid unemployed F1 driver.

Na, nothing to worry about really.

14

. . . . . I’d sit on a beach all year for $70 Mil.

15

@ Adrian…another report seems to focus on under reported ‘stock options’ or their Japanese equivalents. I am sensing covert strategies buried deep somewhere along the track!

16

@Adrian

You think they fronted him the 70 mil?!

17

CTP

Can’t be sure about that but he was signed on for two years, period. It would be a beach of contract if Renault reneged on it for any reason.

18

This makes sense. Renault got a sweet deal for Nissan and I can see how there would be resentment for that deal and the man that made the deal happen, especially since Nissan now makes some very nice cars (I have a Leaf) and Renault cars are quite hideous really. Ok….let’s say quirky.

19

After all your banging on about PUs / hybrids I think its absolutely HILARIOUS to discover you own a Leaf!!!

I’d have expected a Huracan, or an LFA, or an R8… or at least an E60 M5.

But no, a little ELECTRIC car. Stunned.

Do as I say, not as I do?

As for Renault being “quite hideous”, wow. Have you looked at the Leaf? Although neither of them are going to be neck breakers, the Zoe is a significantly prettier car to my eyes.

20

The Exigency,

Change in my life for the benefit of me and my fellow human beings is logical and proper.

Change in Formula 1 for the sake of some marketing department’s new messaging wish/plan/idea of greenness, while really selling AMG V8s and V12s is another.

I think you need to take a moment and really consider what Formula 1 is selling you here. Because it is total fakery, bait and switch stuff. I mean, what is powering all those AMG Mercedeses, McLarens, Aston Martins, Ferraris and other super cars that run the laps providing “F1 Experiences” or driver PR duties? Oh, V8s? V10s? V12s? Yeah…product being actually sold to people watching seems quite missing the Hybrid piece. If not for that Acura/Honda NSX no one wants to buy, there wouldn’t be a hybrid to be bought around this F1 paddock.

21

Please, don’t be outraged. It is a very appropriate, logic and considerate choice of transportation. Since Axel is outraged as well, I’ve explained it below just once, but it’s applicable to your comment, if you wish to read it.

22

Sebee, I’m aware you’re an intelligent person so please don’t misunderstand amusement and surprise for “outrage”.

Hilarious was the word I used. And it still is.

I read your reply. It seems you can accept change in your own life but not in F1. You haven’t got a leg to stand on to be honest.

The days you wish for have gone. Like lonnnnng gone never to come back. You have fully adopted to that in your own “motoring” it seems. Maybe apply some of that open minded future thinking to your views of F1?

It could make you enjoy things a little more.

Or maybe you won’t change until Seb wins again…

23

sacre bleu! a Leaf? with a whiny vacuum cleaner PU? A Leaf ?

Please tell me you’ve transplanted a V10 from an M5 into it before the world stops spinning! This revelation has just shattered all your credibility!

😁

24

@Axel

Isn’t it AMAZING???!!!

Like your choice of engine a lot. Driven one many times. It’s an incredible engine and quite possibly the best sounding road car ever made in my opinion. With a Manhart carbon airbox and wide open at 8k rpm it’s utterly incredible!!!

I think we need to start a campaign to get Sebee to transplant an S85 into his Leaf!!!

😀

@sebee, here’s how your Leaf SHOULD sound!!!

https://www.youtube.com/watch?v=iDJV9tMI-cs

25

The V10 M5 is the best M5 of the lot.

Although I think the LFA V10 tops it, just.

26

Oh, one more thing….

I totally understand throwing a V10 into an M3 for fun. However, I like my V10s in a very specific way, more refined and perfected. Throwing a V10 into an M3 while fun, is a bit of a boy-racer thing to do. Just consider how nose heavy and unbalanced that M3 now is for example. It’s pretty much mainly good for those parking lot noisy runs, and nothing else. Even that can be better done by a BMW V1 F1 car. And oh yeah, that same BMW V10 F1 car is a weapon of mass destruction at the race track too!

Here is a picture I shot of a V10 all oiled up and screaming for me. Yes, it’s the BMW V10. Yes, just a few seconds earlier I was touching the rear wing as the driver missed the barrier I was standing behind by single digit inches. Yes it is north of the currently allowed 15K RPM in that photo. Yes, it had to be shut down after 3 minutes because it wasn’t getting enough airflow to cool it.

What a 3 minute quickie it was though. I’ll never forget it.

27

Surely not the best sounding engine ever, the Beemer sounds like a diesel truck on start-up. Obviously much better at high revs though. Still not a patch on the V10 from an LFA or even the Audi R8/Huracan imo.

28

Axel,

Yes, a Leaf. It is a perfectly logical, proper and considerate choice of ride and suits purpose. It was a deal too!

Formula 1 continues to push this complete and absolute lie of road relevance. None of the things in Formula 1 are road relevant, certainly not the PU. I’ve discussed it ad nauseam as you well know, but it all comes down to the fact that none of the stated product goals of Formula 1 align to goals of public transportation, therefore you can’t align the vehicle to be relevant to both. The track is not the road. F1 car is absolutely nothing like the car you and I ever touch or drive. The whole link it s a total lie and fabrication. Illusion at best. Not even the tires have anything in common.

My point of view and product choice are not only completely compatible, but incredibly logical.

I have always stated that Formula 1 should be the outlet for absolute automotive lust. A form of pronography on wheels for motor heads. That is why a V10 engine makes sense. It it outrageous and insane. It sounds absolutely amazing and totally unlike anything that should ever be allowed on any public road. Formula 1 cars should also not be pushing toward the plus size model trend. They should be lean, thin, muscular. I actually personally feel there should be no minimum weigh on the car. There could be a minimum weight on the driver, and the crash safety tests by FIA, but the rest should be “go as lean as you want!” Weight is inefficient, and it’s funny how the pedal all this efficiency in F1 while putting 33% more weight onto the car in the process.

Bottom Line: Formula 1 should be the outlet for extreme, over the top automotive fantasy. A place where we can go to see the absolute most extreme car on the planet and get that urge to experience it out of our system. Not a place where we go to watch PU use conservation, fuel flow restrictions, fuel limits, tire preservation and the like.

Now, the public road is a different beast. People’s lives are at stake (as Jack Nicholson pointed out. Children are crossing the streets everywhere. Elderly. People are walking on the sidewalks, they want to take a walk and not breathe my exhaust fumes (a reason why I will absolutely detest VW/Audi/Porsche products FOR EVER!). They deserve to be able to walk and not breathe them and be poisoned by me. Cities are so polluted with fine particulates from cars that average person living in a city has a 4 year shorter lifespan. The city is no place for V10s, V12s, or speeding in my Lambo (also a VW product and should also on the $#!+ list). The speed limit doesn’t exceed 60km/hr. The roads are not for racing or exercising the muscle of my V10. I was going to to buy that M5 on a number of occasions, but it’s a total emissions waste. It’s totally taking a giant piss on my fellow citizens, and that’s not how I like to roll. Electric is the future without doubt, and I want to get on board, get used to it, advocate from experience. Leaf is a lovely efficient entry point to dip your toes into 100% electric.

I told you a number of times I don’t believe in the hybrid formula for public transportation. I believe 98% of commuters could easily switch to 100% electric. Why have double the motors, double the complexity, double the maintenance and higher cost? It is being peddled because they want to maintain a higher unit cost, just like electric cars are unnecessarily expensive still. Hopefully scale will address that. Hopefully China will help address it. I don’t need to maintain an ICE and a Electric system on my hands. It’s totally a pointless design, mainly to keep me coming back for ICE maintenance and dealer expenses.

This is a little bit of a joke, but this piece makes a lot of valid points. Have you ever seen it? Say what you want, but having spent some time with a 100% electric car, this piece is more on the money than I though when I read it a few years back.

>

http://teslaclubsweden.se/test-drive-of-a-petrol-car/

So to conclude:

#MakeF1GreatAgain – with V10, 600Kg or less cars, refuelling, amazing sound.

…but…

#ElectricIsTheFuture – a point made clear by our 5x WCC Champions Mercedes, who are now in F1 advertising EQ Power. You want me to remind you what the first Mercedes EQ Power product will be? A 100% Electric SUV – can you get more F1 relevant than that? Exactly.

>

https://www.carwow.co.uk/news/mercedes-eqc-electric-suv-price-specs-release-date-3857

29

Sebee, enjoy the leaf, one question, did you get one for the other foot as well?

30

It’s the marketing departments of these car brands that have been allowed to steer Formula 1 toward where we are today.

#sebee…it was the threat of a less than twenty car grid and Bernie grabbing at any straw to stop that which got us where we are today. Nothing to do with marketing departments.

31

Jack, with you 100%. You know that expression “What was old is new again?” Don’t discount V10 Formula or gas only focus in the future. It’s the marketing departments of these car brands that have been allowed to steer Formula 1 toward where we are today. And let me tell you from experience, marketing people live in their dream line of messages and branding, not in the real world where we can see right through the bull and fluff.

Here is something to consider. “boring” below says that I’m saying the same thing again, but consider this.

97% of the population on the planet drives a petrol car. Instead of catering to the public, here is F1 on a mission to change habits and make people consider the unnecessary hybrid solution? And I’m the one that’s out to lunch? How many times must I point out that Toyota owns like 75% of the hybrid market place – notice, NOT in Formula 1.

Some quick stats for you about commuting. 55% of world population live in cities, and that is supposed to grow to 63% in a decade according to google. This matters why? Because it shows you that we’re going against nature and instead of dispersing we’re concentrating. And with that this problem of emissions gets worse and worse in urban areas. And hybrid is just a half measure to the real solution. Electric is indeed going to be the main solution. Eventually automation will contribute.

In your application where your commute is long, you’d want to reduce your cost of commuting as a goal. I’ve seen estimates that put cost of monthly commuting from suburbs to city at $800 per month+. Obviously anyone will want to reduce this, and electric cars can, and will. Range is growing, so is efficiency. But I agree with you there are applications where electric car won’t do. In that case a simple small displacement petrol engine with efficiency measures will more than address the need. Not only address it, but do so at a lower cost of ownership, lower entry cost than a hybrid car.

A little fact for you, which shocked me the first time I read it. Do you know which brand of cars has the best fuel efficiency and lowest emissions across their entire fleet of cars operating right now in the actual market place? Mazda. Yes Mazda! A quick glance at Mazda’s lineup will quickly reveal they have no hybrid models and no 100% electric models either. Mazda is all gasoline. And yet, they deliver the most efficient and green fleet to the market place. Ain’t that something. I think this is not talked about enough, because Mazda is kicking all the other car manufacturers straight in their hybrid testicles, aren’t they. And as they curl up in pain of that reality, they’re probably making a “PU” sound. Go ahead Mercedes, Renault and Honda marketing departments…spin that reality for us. What is your answer to Mazda’s gasoline engine technology that’s putting all your “green” efforts to absolute shame. I mean, is Mazda smacking down all their engineering departments or what?

“Mazda’s vehicle lineup is the most fuel efficient and least polluting in the auto industry, according to the Environmental Protection Agency (EPA), despite being among the few mainstream automakers that doesn’t offer any electrified models.

The EPA’s data comes from its latest analysis of fuel economy and carbon dioxide emissions trends. In that analysis, they determined that through the 2016 model year, Mazda is tops in the North American auto industry in terms of real-world economy and emissions performance for its full range of vehicles.”

32

Sebee

I have always agreed with anyone who is awake to the fake FIA and F1 maunufacturer teams collective spin-doctoring about F1 needing to be aligned with road cars.

I won’t bother trying to add-to or improve on your concise description of that scenario. It was great.

What I will say is this …

F1 is now a globally viewed SHOW BIZ event which transcends sport and delves into a live entertainment genre akin to the likes of Cirque Du Soleil or Queen – Live at Wembley.

We have plenty of “boring” motor racing categories which are there to satisfy the FIA and it’s crusade to appease world governments policies for a green future.

It’s a chivalrous and extremely important message which we should all get behind if we are in a position to do so … except when it becomes ridiculous and encroaches on things it should not. Like F1!

F1 has been bought by a media/entertainment company, to refine, rebuild, make it spectacular & unmissable and sell to the masses for (pay-per-view) viewing in their lounges and media rooms all over the world.

That’s how they will recoup their outlay of 9 Billion dollars!

They desperately want to leave the “bogan petrol head” years and the boring road car manufacturers behind them along with Bernie’s spectre and his so-called archaic ways of delivering it to us.

If F1 is to move into this new tech-savvy age and become an unstoppable force in the rapidly burgeoning entertainment world, Liberty need to deliver it to the masses as a breathtaking, spectacular “2 hour live performance” well worth paying to watch – rather than just another “boring motor race for car buffs and people looking for their next family sedan”.

A live concert or performance usually goes for 2 hours and has people in a trance for the entire show. They walk away emotionally and physically exhausted thinking … Wow, is it finished already?

A Hybrid F1 race does that for about 2 laps at the start, 5 laps when the first pit stops are happening and THAT’S IT!

A mere 10-15 mins out of the allotted 2 hours is entertainment and 99% of the rest of most races is boring and sleep inducing … even the crucial, nail-biting final laps when cars and drivers should be almost spent and throwing everything they have left at each other is boring because of the road-relevance rules and regs.

There’s no “heart in mouth” adrenaline-pumping action or expectation when everything and everyone in the race is working at 60-70% to ensure they safely get to the end.

It ludicrous … and when I say that I’m being charitable because there are plenty of other derogatory adjectives which come to mind!

As for electric cars, it’s definitely horses for courses Sebee.

If driving a Leaf works for you, you obviously live in or near a highly populated mega city. I’m guessing London or the like. A place where travel time & distance is small and electricity for recharging is plentiful and readily available.

Here in Australia, a great deal of the population lives in “satellite cities” on the outskirts of big cities and travel up to 100 kms or more (each way) on motorways to get to work or appointments everyday.

We have millions who live even further away than that and a very small percentage of our population lives close enough to or in the big cities where an electric car can hold charge for long enough to be effective.

It’s for that reason that I can’t see electric cars being the solution to every country’s needs in the foreseeable future.

There will always be long distances to be travelled in places like OZ and the like because our holiday & recreation areas are plentiful and most are well & truly outside of cities.

Maybe in 50 years or more renewables and electric technology will suffice down this way but hey, we might all be speaking Mandarin, saluting a red flag, worshipping Tian, Shangdi & Di and living in 70 story high rise buildings by then if things continue to progress as they currently are in the Sth Pacific!!!

But that’s a story for another time! 😉

33

very well said sebee

34

Sebee, you have become extremely boring. I dont want to read the same stuff over and over again.

35

Good luck Daniel…

36

Apparently Kubica will be racing for Williams in 2019 as Autosport have stated.
The Russian McMaffia cash is being swapped for The Polish McPeople trafficking cash for Kubica.
Williams have a knack for selling out to the highest Dodgy Eastern block dosh. Still think Kubica is more of a liability than an asset. Congrats to him though. But I can’t see this being a good mesh.
Joe Saward got grief for this statement, but I agree with his sentiments.
Time for little Claire Williams to step down and it’s time for a new boss in charge of the team. But sayi g that they’d probably hire Pol Pots off spring and make sure the 2019 car is run on pedal power.
Smedley says the whole structure needs to be sorted. Sadly Williams is too stuck in their ways to change anything as the Eastern Block Tainted cash comes a knocking.

37

What’s the relevance to the Ghosn story? In any case, you may want to turn your Little-Englander gaze towards your own back yard – plenty of shady British characters you could direct your comments to…

38

Little Englander 🤣😂
I’m just quaking in my boots 🤣😂
Far from it I’m just shocked anyone would would want to even entertain the idea of putting an old bloke with limited driving in F1 for years than have a young talented guy in seat no.2. Instead Claire went for the cash. I cannot see him as a long term solution for the downward spiral.

39

Cash isn’t everything, you also have to delver the results. If it were all about the cash Sirotkin would have been retained.

Don’t forget how amazing Kubica was before the accident and there is no reason why he can’t reach those levels again with a bit of racing experince in these PU cars, which are very different to the v8s.

40

You know…the deal Renault got for ownership of Nissan was quite one sided. If I remember Nissan was not in a good place when Renault made that sweet deal. Ghosn was who did this deal.

Could this be a coup to dislodge Ghosn form his position? I mean, it reads weird. He under reported his earnings? Seems trivial, rather harmless overall and well..in his CEO position how could no one else know? The board knows what he’s paid and what is being reported in financial results.

41

Sebee

Something about using company cash to buy 4 different houses around the world. And I’m sure they’re not little one bedroom apartments.

But let’s see how it pans out…looks a bit like a corporate conspiracy aswell.

Ohhhh the intrigue 😊😊

42

Well, he has to travel a lot, and as CEO wants a decent place to stay at each location. Companies comply. Just like they comply with private jets, limo, etc.

Extravagant. Sweet perk. But in the end just a company asset to be used by company exec, and company may even choose to grant ownership ad perk, as long as at time of award they tax it accordingly. Companies buy houses for key employees.

43

No where (I’ve seen…) does it state the ownership of the properties…

44

Read on sky news I believe redline… but seems there’s more to it than that🤔

45

@James_k … the houses have been mentioned, but till now the ownership was not. Bloomberg or FT are now reporting that the houses are fully owned by Nissan subsidiaries, and Ghosn is afforded use of them. His crime – that he didn’t report to the market regulators that he was allowed to use company owned properties as a perk to supplement his compensation package.

That is quite different from the what was being implied previously: that Ghosn used company funds to purchase houses in his name….

The irony is that Saikawa – the Nissan CEO who presided over their own emissions scandal, and the Takata executives that were responsible for selling faulty airbags implicated in at least 20 deaths, got away scot-free, whilst Ghosn is being held in solitary for his heinous crime.

46

I read about this a couple of days ago. Oh dear oh dear oh dear. This is pretty monumental news and I’m sure the repercussions will be seen by us all. Amazing that someone in that position can get away with such a crazy strategy for so long without it coming to light.

That’s an incredible quote from Hiroto Saikawa!

Not too fussed what happens to Renault F1, although I do like the Hulk. But I hope this doesn’t affect the Nissan FE program. My wife and I are big supporters of Buemi.

Sadly, I think this might be too big for it to not have a large effect somewhere. Given the way “motoring” is going for the average person, Renault/Nissan may choose to concentrate fully on the future road relevance on FE. I can only hope.

If that is the case, could it also spell the beginning of the end for McLaren?

47

Saikawa has gone out on a limb. He better have a strong hand to play, or this may backfire when the facts inevitably surface, and the motivations become clear.

48

This wonderful site used to be 24/7 non stop. Now we are blest with an article every 24 days [very slight exaggeration….]

49

So keep postning.

I’ll have something to read at Christmas

50

and still no notification of replies to comments

51

And updates every 2 days!!

52

I admit big business goes over my head. How you can under report your pay packet to the people who sign the cheque is too mind bending a concept.

The question for us is that with a change at the top will there be changes to F1 investment?. The new management will obviously have a look at the books, let’s hope that Ghosn has not been reporting the bill in the same way as he reported his pay.

53

it’s more about not telling the government so you skip paying tax

54

He’s got those Sam Donaldson eyebrows.

Bigtime execs are often personalities that like to fly a little too close to the sun, etc.

55

So he stole them? That’s why he’s in troubble

It’s all connected if only they were burnt we could be sure

56

Need something to lighten up the mood after reading about corporate corruption?

We have a winner!

https://www.planetf1.com/news/sirotkin-on-course-to-win-driver-of-the-year/

57
Clarks4WheelDrift

Not if Lewis quickly changes his name to RaceyMcRaceFace and the poll continues…

https://www.nytimes.com/2016/03/22/world/europe/boaty-mcboatface-what-you-get-when-you-let-the-internet-decide.html

58

Thanks for that link. Hillarious read.

“the joke was on Taylor Swift and VH1 when the Internet chose a school for the deaf as a concert location.”

59

Sirotkin has nearly double Lewis’ vote (in second). How do the Russians do it? Must be social media maestros…. ?? Maybe they own Reddit?

60

They own the internet!

61

Two possibilities here:

1. Russians have hacked the system

2. People are so bored with Ham winning everything that they didn’t even bother to vote.

By the way, rumours are Kubica will take Sirtokin’s seat next year.

62

Option 3:

Population of Russia: 144M

Population UK: 66M

Yes, Kubica took the seat. I just want to remind everyone what happened to the Polish President when he flew into Russia for an event that wasn’t appreciated. Lucky that Red Bull took Kvyat back and that there is a Russian driver on the grid to continue to satisfy the Russian Grand Prix hosting agreement. But you can be sure Kubica taking Sirotkin’s seat has got to make him a bit uncomfortable safety wise. At least he’s given it a thought. If I was him, I’d hire someone to test my food. 🙂

63

Kubica is a survivor. If he can survive getting speared by a massive section of Armco barrier, he should be able to survive a plane crash, or a poisoning attempt.

64

Wow…the golden boy, the rock star of Nissan turnaround. Of Renault. So praised. Ethics it seems is in short supply.

“Tell me, Gordon, when does it all end, huh? How many yachts can you water-ski behind? How much is enough?” Bud Fox in Wall Street 1987.

65

He started off importing personal Bombardier jets via a string of companies registered with the Isle of Man. It was a slippery slippery slope from then on….

66

I hadn’t given this much thought, TBH, but If Ghosn is indeed the guy behind Renault’s return to F1, this probably won’t have a very positive effect on their F1 budget.

If I were RIC, I’d ask for payment in advance, on a Swiss bank account.

67

Off topic:

James – There’s a very good article on the BBC about Alonso’s career. It would be great to get your insight, or any inside information you had on the guy!

68
Clarks4WheelDrift

Yeah, good F1 article, surprisingly deep for bbc pundits.

Interesting reading pt 3/4 I think, about the Hungarian GP qually and the crucial fuel burn format, where Ron had let then take turn about to go first and burn fuel, qualify on less and get more top up back for the race. Where it kicked off as this time it was Alonso’s turn but Hamilton went out first so he could cheat an advantage and refused to let his teammate past. This trick bought Hamilton provisional pole with one run to go. Then after Alonso had to hang back a lap without burning and took a 10s extra stall in the pits to regain his turn and right the wrong, the FIA were lobbied by Hamilton’s dad and took Alonso’s pole away from him dropping 5 places at Hungary of all tracks, despite it really just being an internal McLaren spat.

Then kaboom.

Didn’t realise McLaren (Ron and Martin met) so didn’t want Alonso to race from then on, to get him out, not even take part in Hungary!

Turns out, already, Briatore had told Bernie who had told Max about McLaren spying. So they all knew about doing spygate2 all along!

Makes you wonder about Mosely, why the wait, to see if Ron would admit?

All a bit too personal and political as per…

69
Clarks4WheelDrift

Quite like the final Alonso McLaren…

70

Why don’t you link it? I need google to know I searched it? We don’t have GDPR here! 🙂

71

Agree. The two parts make for an interesting read.

72

I read that too Phil. Best thing from Benson possibly ever, as he does write some utter guff and often appears like he either doesn’t have a clue what he’s talking about or simply hasn’t done his research.

It was a good article with a few eye openers too. Especially in how much Lewis contributed to the build up to the Hungary situation. I always thought he couldn’t be totally innocent and it seems that was a correct assumption.

An yep, I too was wondering if there would be something similar here. I’m sure there will be, but he’s still on the grid for one more so most likely James and the team are waiting for the actual end.

73

similar here? still talking about ghosn? supposedly the japanese police/prosecution has been getting bad press for not doing much about japanese big bosses. then comes along a dodgy foreign boss…

74

At the time I blamed Alonso for the whole debacle. Now it turns out that he was a powder keg and Team Hamilton did everything they could to put a match to him. When he did blow it was almost nuclear.

75

So his response to some mild gamesmanship was to try to blackmail his team?!? Yeah, sounds reasonable.

I wonder what would have happened to Hamilton if he had tried similar with Mercedes, the morning after Rosberg’s ill-gotten pole at Monaco ’14?

For being labelled dumb by many throughout his career, Hamilton has the keen sense to know that revenge is a dish best served cold.

76

If you consider Hamilton not letting Alonso past in qualifying, as being worse than Alonso threatening McLaren, and demanding that they screw over Hamilton to stop him from making damning information public, then I think there’s no hope for you.

It does not matter at all that his manager went back to apologize. The damage was already done, and Dennis had already called Alonso’s bluff by calling Mosley himself by then.

77

KRB..mild gamesmanship? Sending your dad to the stewards to get a grid penalty is what you consider mild gamesmanship. ?

Now if you read the article Alonso blew his top but sent his manager back to appologise. So an empty threat by the mild gamemanship standards.

78

Is it ever. Benson confirmed that Alonso demanded that Dennis & Whitmarsh run Hamilton out of fuel in the 2007 Hungarian GP. Also confirmed that while Alonso believed he was offered no. 1 status from Dennis, that Dennis has always maintained this wasn’t the case. Interesting to note that it was Mosley who insisted that McLaren keep running Alonso in the car, even after he had blackmailed the team.

Alonso’s F1 story is the quintessential cautionary tale, for how a driver should and shouldn’t act, and the limits of driver power.

79

Hamilton broke team rules and refused team orders and when Alonso retaliated by blocking him at the pit stop his father went to the stewards ( in real team spirit) and demanded the grid penalty that Alonso eventually got. By that point Alonso was boiling over and was demanding all sorts or retribution against Hamilton ..non of which was ever going to happen.

80

#Phil..I’ve been reading that. Andrew Benson gives a good insight into Alonso’s career. Have to say Hamilton does not come out of it too good with dad pestering the stewards to give Alonso a penalty.

81

Interesting.. it was Ghosn who supported the return to a constructor team and reserved the money for the project.
No sure the possible consequences for Renault F1 now..

82

Oooops !

What’s that old saying again…. “ you live by the sword, you die by the sword”.

Or,as that great band called Queen once sang… “ another one bites the dust”.

83
Clarks4WheelDrift

😉

Goshn:

“Don’t stop me now! I’m having such a good time, I’m havin’ a ball!”

Nissan:

“We will, we will rock you!”

Renault: (pleading to stay in F1)

“We (were) the Champions, we were the champions…of the world (a long time ago)…”

anyway, quality music, if not already done, check out the Bohemian Rhapsody movie.

84

On my to see list Clark’s👍

85

3 James.

…we need 3 examples.

86

Oh the web

That we weave

When we practice

To deceive

Quote from “ JFK” the movie😉

87
Tornillo Amarillo

some concern at the team’s Enstone base about the loss of a key supporter of their programme.”

Really? It is not that Renault is going to bankrupt or something like that. It looks like a shareholders concern, and of course legal concerns about financial statements I imagine.
What happens with the Nissan FE team handed by Renault, because the later didn’t want to continue FE for focussing in F1? Maybe nothing different.
Now that Renault is focusing on F1, I don’t think nothing bad would happen to our friend Ricciardo 🙂

Note: some whistleblower seems to be the origin of this problem… Alonso or Piquet Jr are not related, …aren’t they? 🙂

88

Wow … I have no sympathy for thieves who steal from their own “friends & family”. He deserves everything he gets for this despicable level of deceit and criminal intent.
Sad that it’s been brought to light just when Renault Sport are gaining confidence and looking like they’re making positive steps towards the pointy end of the F1 Championship.
As a die-hard Dan Ricciardo supporter, I seriously hope this doesn’t add another sideways step to his career in F1.
Go hard RicciRenno – we’re with you all the way … fingers crossed!

89

I’m confused, who did he steal from? Tax is legal theft. Not paying them is illegal, but certainly not theft.

90

@ Jack..i would take a far more reserved approach to this matter. My take is that ATPIT he is charged with understating his remuneration in the corporate accounts therefore misleading the shareholders. Whether ort not that constitutes ‘theft’ is a question i would leave to the legal challengers. He is also alleged to have had exclusive of use of corporate property holdings. Isa this theft? Surely the board would’ve been aware of these activities! If not then there are grounds for corporate malfeasance by way of non dislosure. yes it seems ‘prima facie’ that he has transgressed but ATM we only know the barest of details. I will reserve judgement.

91

Ken

That’s how I understand the state of play. My take is that Carlos will stay as CEO.

92

Power corrupts; absolute power corrupts absolutely

93

@ken … point taken about ‘wait and see’ but the huge amount of money he didn’t pay in tax is the reason for the “thief” comment.
Willingly withholding millions is akin to stealing in my calculations … legal books and top level ‘lawyers’ can spin it and twist it around precedent but it still amounts to theft from the people who live in the places where he hasn’t paid tax. I am no corporate encyclopaedia regarding the intricacies of taxation law, so I should have chosen my words somewhat more carefully.
In my view, taxation in MOST modern countries is what keeps a well-oiled, smoothly functioning economy – which in turn ensures the provision of updated essential services and infrastructure for the population.
Take chunks of that money away and it’s the people who suffer.
Unfortunately, “Calling it as I see it” in a bid to “keep the b@$tards honest” is a cross I have had to bear for most of my life. Lucky for me, those who know and love me wouldn’t have it any other way because there are far too many people out there who either don’t give a stuff about anything outside of their social circle or they are simply too timid to stand up and be counted.
China’s calculated, forceful encroachment on the Pacific is a perfect example! Plenty have known it is going on for many years now but few have bothered to get involved until it’s (almost) too late.
Sounds like a similar thing has happened with Goshn.

I enjoy our ‘chats’ kenneth. It’s nice to see I have a kindred soul such as yourself who also strives to “keep people on their toes” … thanks for the tip.
Cheers

94

@ jack…many thanks for your post. When you talk of taxes remember that it is everyones right, if not obligation, to minimise their taxation. There is a world of difference between minimisation and avoidance. Having spent 15 years as a CEO i know the pitfalls that wait for the unaware and believe me there are some people who will go to extraordinary lengths to ‘poke the bear’. Outcomes can be draconian for those who go too far. Then again i also know that at the level Ghosn was operating in the stakes are just that much higher. I am sure that there will be much more to come out of this but gauging what has been reported i very much doubt that Renault/Renault F1 will be affected as it has been said that Renault F1 was guaranteed a 10year budget. Whether those funds are quarantined is anyones guess… ATM. I’d just like to say that your posts are always fun to read and i do enjoy them. Keep up the good work.

95

Cheers k … and thanks for the quick big-biz lesson. I crave any info which my own life experience hasn’t afforded me and live by the adage “You learn a new thing everyday”.

Good luck to Ricci Renno … as we all expect in the short term at least, he’s going to need it!

96

I think you are misunderstanding – Its a corporate reporting issue – nothing to do with his personal tax declarations. Nissan allegedly under-reported his compensation to the market regulator. There’s a lot more detail that needs to come to light before anyone can draw conclusions.

97

@kenneth … as you say, details are sketchy, but Nissan reported him to the authorities for corporate misconduct, not income tax evasion. He allegedly did not disclose his total earnings, as well as perks such as personal use of company assets (the various apartments etc…).

98

@ redline…well it all depends. If he was being given the Japanese equivalent of ‘stock options’ and if some of those vested then he may, repeat, may, have struck problems with the tax effect if those options were not recorded accurately in the first instance. like i said earlier, the details are sketchy and i would tend to think that we have a lot to learn, if we ever do, about the machinations at play to cause his downfall.

99

You are correct Kenneth, a good, mature post.

Looking a bit like corporate conspiracy now, who knows😏

I wonder if he’s stepped on some tetchy feet😉

100

@ James K…this is more exciting that a lot of F1 races. We need a strategy report to help us understand the intricate web of political humbuggery being played out hahaha.

101

Guess the guy was not paid enough 😉

Don’t worry about Ricci, he will be ok, w or w/o a championship. This flamboyant lad is just too good watching.

102

@ Alan F1…I believe that Riccviardo won the FIA’s award for the most spectacular overtake!!! Or whatever it’s called.

103

@Alan … thanks for the giggle. 😂👏

My ‘worry’ for Dan is that after making the bold, ‘grown-up’ decision to stand tall and walk away from his mentors at Red Bull that, due to circumstances beyond his control, his bold decision may be seen in hindsight as another bad career move by a talented Aussie in F1.

As a young teenager, I stayed up late and watched Alan Jones on Sunday nights and very early Monday mornings back in the early 80s, his feats ingrained F1 in my DNA and set me on a lifetime journey as a Formula 1 devotee. After spending the past 16 years avidly supporting two more Aussies in F1, with little or no success due to bad luck and underhanded controversy (RB days) or resigned to hopelessness (pre RB), it was exhilarating to read and hear (on my birthday!) that Dan had signed with Renault, becoming the first Aussie leader of a full factory team.
The relief and positive expectation was huge, knowing that he would not follow the same path as Mark Webber and settle for being paid megabux to play second fiddle to Marko’s & RB’s latest golden boy.

Ever since Dan announced his decision, a staggering amount of “bad luck” has followed him like a monstrous, angry Cumulonimbus cloud. This announcement about Goshn places a shadow over Renault Sport’s future … and more bad luck to compound a rather crappy past few months for Dan.
If ever there was a great fun, affable personality with sublime skills who deserves some good luck to fall his way and afford him that extra 10% needed to succeed in F1 – and finally bask in the sun for a while – it’s Ricci!
To eventually retire as the third Aussie F1 WDC would be the perfect reward for such a dedicated person who is rightfully loved by almost everyone in and around the sport.
It’s for that reason I sincerely hope Renault continue to fund their F1 team properly for long enough for that to come to fruition because it seems that barring a miracle, the once-touted chance for him to drive for championship contenders Ferrari or Merc is now behind him.

104

@ Jack…a very good post. We share a lot of things, Just add an additional 20+ year to my own time in following the sport.

105

@ jack…thanks so much =for the invite but these days i don’t travel hardly at all outside the general Gold Coast/Surfers Paradise area. where i can drive most anywhere, to…Byron Bay where i lived for quite awhile after leaving Sydney and Noosa Heads when i get the urge!!! Should you ever get up here please let me know. There are many stories and experiences that could be shared over a flute or two of chilled Epernay exports.

106

As I said, kindred souls!

We should try to catch up at the OZ GP in Melbourne sometime if you are there for the race weekend and interested in some good old fashioned social interaction across a well stocked table.

I have plenty of great food and beverage haunts which I love to reacquaint myself with and I’m always up for adding a new one whenever I get back to the city where I grew up …. oops … sorry x that’s a lie!

I might be a lot older and a tad wiser but I defiantly refuse to grow up! 😉

107

You must be very old then. Or very very old, if not to say stone old. Very stone old more like it.

What did you get out of following this sport for all these years ? It isnt really worth it anymore or who wants to follow it the next 20-30 years ? Anyone ?

108

The dreaded general message from a big manufacturer…
“There will be no immediate outcome on Renault Sport motor racing activities “…
Always has an air of the inevitable grey clouds looming nearby.
Could this mean they may flog Renault F1 or get rid of Enstone base ? and what about Renault Formula E ?
Audi with the emissions scandal literally stopped its Motor Racing activity in WEC and just committed to DTM and Formula E. As for VW they just stopped WRC.
Will Ricci be concerned with his move to Renault?
What about McLaren and it’s Renault engine partnership.
Red Bull all of a sudden are looking Rosie with Honda.
Carlos Ghosn The Jackel (another Spanish Ninja) still deserves a bit of respect he literally got the company Renault Nissan back in play, with a bit of imaginary book keeping. Right here comes the Tangent …
I blame it on Greg🤣 . Anyone with a name like Greg.
Bet Greg has mate called Kevin who collects brass rubbings of medieval church flag stones and carries a flask of weak lemon cordial. I’m joking.
I’m sure Kevin Keegan doesn’t “Love it !”. Ask Alex Ferguson.

109

Correction Carlos has also French Lebonan and Brazillian roots too.

110

Carlos Ghosn The Jackel (another Spanish Ninja)

Sorry?? Another what??

111

@BKF

Another cracking post with good points and humour as usual. I thought the same, it’s kind of like when a football team “backs” their manager and then sacks him a week later.

“I’d LOVE it if we beat them, LOVE IT!!!”

😀

CLASSIC!!!

112

So when is Al Gore getting arrested for the global warming fraud and the profiteering resulting from that fraud?

113

The same time Donald Trump gets arrested for cooperating with a foreign power to undermine his country’s democracy (and also tax fraud, sexual assault). Which will be the same day Hilary Clinton and Ivanka Trump go to jail for sending Government messages through private email accounts whilst Tony Blair and George W Bush are tried in The Hague for war crimes.

.

What I’m trying to say is, don’t hold your breath. Or do, the hypoxia might clear up your thought processes a little.

114

My wish is that someone/anyone gets tripping on a serious investigation into ‘crooked Hilary/,the Clinton Foundation and the George Soros connection!! Now that would be something to relish….

115

Ken

The ‘Deep State’ Ken!!

116

@ Adrisn…have you ever watched the TV drama series ‘Deeo State’. ? Fascinating and i should say, altogether believable. I recommend it.

117

Ken has three letters.

Change one of the letters and you get Xen.

Half Life 3 confirmed!

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