This sounds like Judy Garland singing The Company that Got Away (FCA). “The road gets tougher…
The Securities and Exchange Surveillance Commission (“SESC”) has recommended that the Financial Services Agency (“FSA”) should issue an administrative monetary penalty payment order of 2,424,895,000 yen against Nissan Motor Co., Ltd. For false disclosure documents. (The Securities and Exchange Surveillance Commission is Japanese, which is under the authority of the Financial Services Agency. It is responsible for “ensuring fair transactions in both securities and financial futures markets.”) *
They were:
- Annual Securities Reports for fiscal years 2014 through 2017
- Shelf registration supplement submitted on April 8, 2016
Nissan still reeling from the Ghosn matter and its lax governance processes that benefited senior executives naturally played for time. It said in a statement: “The Company takes this recommendation extremely seriously and will consider its response after receiving the FSA’s official notice. In the absence of any special circumstances or other reasons, the Company intends not to dispute the alleged facts and the amount of the administrative monetary penalty.”
Continue reading
2020 Ford Explorer – OK, Not Good in Crash Ratings
The safety perils of an all-new platform?
The redesigned 2020 Ford Explorer, a midsize SUV, offers better protection in the driver-side small overlap front test than earlier models, but hasn’t improved enough to qualify for a 2019 safety award, according to the Insurance Institute for Highway Safety. Crashworthiness ratings for the Explorer also apply to the all-new 2020 Lincoln Aviator. (see: Driving 2020 Explorer: Big Size and Complexity, Bigger Price)
In the driver-side small overlap test of the Explorer, “the structure held up well overall — an improvement over the severe intrusion seen in the Explorer prior to the redesign. However, in the test of the new model, there was enough intrusion into the outboard part of the footwell to elevate the risk of injury to the driver’s left leg, as indicated by measures taken from the dummy, resulting in an overall rating of acceptable,” said IIHS.
A good rating in the driver-side small overlap crash test is a requirement for both the 2019 Top Safety Pick and Top Safety Pick+ awards, so neither the Explorer nor Aviator is eligible.
Continue reading →