Administrators Andrew Reid Posted December 6, 2011 Administrators Share Posted December 6, 2011 [html][img]http://www.eoshd.com/wp-content/uploads/2011/11/olympus-Hisashi-Mori-scandal.jpg[/img]Olympus have admitted to illegal accounting practices in a news conference held in Tokyo today. The company used over $1 billion to hide huge losses from bad investments since the 90′s, sweeping them under the rug by making spurious payments to dummy entitles, the largest of which was over $670 million (or 2 years profit) in 2008 to a Caymans Island entity which disappeared 2 weeks later.[url="/"]Read full article[/url][/html] Quote Link to comment Share on other sites More sharing options...
Guest nitsansimantov Posted December 6, 2011 Share Posted December 6, 2011 [html]Olympus.. Sucks to be you. Too bad that we may end up loosing a lineup of cameras just because some executives at the company are criminals. The e420 range were nice although I really didn’t like the metering system when I tried it.[/html] Quote Link to comment Share on other sites More sharing options...
Guest mickeseid Posted December 6, 2011 Share Posted December 6, 2011 [html]Executive business suits, greed and Cayman Islands are seldom a healthy combination.[/html] Quote Link to comment Share on other sites More sharing options...
Guest Andrew Reid Posted December 6, 2011 Share Posted December 6, 2011 [html]An even bigger management failure was not just to make those loses in the first place, then to illegally hide those losses, it was the abject failure to placate Mr Woodford or to prevent him from going public with the incriminating news. It all smacked of panic – throwing him out of a boardroom meeting and telling him to piss off back to England.Clueless.[/html] Quote Link to comment Share on other sites More sharing options...
Guest RRRR Posted December 6, 2011 Share Posted December 6, 2011 [html]The camera division might be a bargain for Samsung, no?[/html] Quote Link to comment Share on other sites More sharing options...
Guest Andrew Reid Posted December 6, 2011 Share Posted December 6, 2011 [html]I am not sure. Optics yes. Bodies no. Samsung already have their own sensors and mirrorless bodies. They might want the brand though.[/html] Quote Link to comment Share on other sites More sharing options...
Guest studio17b Posted December 6, 2011 Share Posted December 6, 2011 [html]Regrettable indeed. Maitani might be turning in his grave. Whoever picks up the camera division (and I hope someone does), hopefully they will also know what to do with it and not just close it down after picking the bones dry. Olympus JPEGs are probably the best in the business, and I have been a fan of Olympus colours ever since my E1. The optical division would probably have no problem finding buyers, and Olympus is also a leader in medical applications.[/html] Quote Link to comment Share on other sites More sharing options...
Guest studio17b Posted December 6, 2011 Share Posted December 6, 2011 [html]Somehow, I don’t think Woodford was in the mood to be placated. But yes, agitating the hornet by shutting him out of the boardroom and telling him to drive to the airport himself was hardly going to endear him to the Olympus reasoning.[/html] Quote Link to comment Share on other sites More sharing options...
Guest mountainradio Posted December 6, 2011 Share Posted December 6, 2011 [html]Cosina pops to mind simply because they’re one of the few players without a competing lineup, and because they’re part of the m43 coalition and have produced the one (very nice) lens. But beyond that I’m not sure it would make much sense. Cosina already owns the Voigtlander brand and I’m not sure why they’d want the Olympus brand as well, and I don’t know that Olympus’ technology is going to be that appealing to anybody else. Their sensors are three years old. Beyond a couple nice compacts, their real strength is lenses, but that’s also Cosina’s strength. If Cosina did want to release a digital camera it would seem a lot more sensible for them to go with a digital M-mount Bessa. The fact that they haven’t done that already would seem like more indication that they’re not in a position to move aggressively if Olympus did become available.[/html] Quote Link to comment Share on other sites More sharing options...
Guest rogerwabbit Posted December 6, 2011 Share Posted December 6, 2011 [html]Hmmm ,,,Maybe Samyang might give it a go and buy the camera division. They already have one micro four-thirds lens out and have more in the works. But what I would really love is for Sigma or someone to get hold of the division and put a Foveon X3 sensor in a micro four-thirds camera, and utilize the whole lens image circle like Pannas GH cameras do, Only better because it would be capable fully using more In 1:1 mode. And for an added Treat have a feature where the whole sensor is capable of being active in no lens for legasy lens Users.:D[/html] Quote Link to comment Share on other sites More sharing options...
Guest RRRR Posted December 6, 2011 Share Posted December 6, 2011 [html]exactly – it would help a great deal if they plan to venture in to the prosumer market.. Also, I guess they could achieve a lot, quickly, by combining technologies..[/html] Quote Link to comment Share on other sites More sharing options...
Guest Andrew Reid Posted December 6, 2011 Share Posted December 6, 2011 [html]And then attempting to smear him as a man who ‘hates Japan’. Yes I think you could say they might have handled it better.[/html] Quote Link to comment Share on other sites More sharing options...
Guest Andrew Reid Posted December 6, 2011 Share Posted December 6, 2011 [html]It is the right timing for a visionary outsider to take on Olympus and show them better times, someone from outside Japan. I am not sure the industrial lens manufacturers who have ventured into photography – good as they are – will be the right people, or that Olympus will be the right purchase. Samyang and Cosina probably can’t afford them anyway, although judging by the share price – hey – maybe they can![/html] Quote Link to comment Share on other sites More sharing options...
Guest brianrowe Posted December 6, 2011 Share Posted December 6, 2011 [html]As a GH2 shooter, this has me a little worried, because I feel as if Olympus is carrying the torch of M4/3 more than any other company. I can’t speak of other countries, but Panasonic’s marketing in the US is practically nonexistent. Absolutely none of the professional camera stores within a hundred miles of me carry Panasonic. One guy, when I was searching for a GH2 months back, actually laughed at me. Is it like this elsewhere? I hope not. In any case, I’m sure that Panasonic has far too much invested to make a dramatic shift anytime soon.[/html] Quote Link to comment Share on other sites More sharing options...
Guest Andrew Reid Posted December 6, 2011 Share Posted December 6, 2011 [html]I can only speak from a UK / European (and to an extent Asian) perspective with Panasonic but their GH2 stock over here and general store presence has been fine. Olympus not bad either. Is it just the US where they seem to be effing things up? GH1 and GH2 stock there has been a running joke for 2 years running.[/html] Quote Link to comment Share on other sites More sharing options...
Guest brianrowe Posted December 6, 2011 Share Posted December 6, 2011 [html]“Is it just the US?”I guess so. Was looking at their US YouTube channel, and they’ve only had two commercials in the past year, both for low-end point-n-shoots. They have a few other channels with demos and what looks to be B2B marketing materials, but they don’t seem to be targeting photography/video professionals here.[/html] Quote Link to comment Share on other sites More sharing options...
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