Toshiba’s nuclear mess: shareholders hurl abuse at Toshiba managers

‘You’re trash’: Investors hurl abuse at Toshiba managers after nuclear debacle, SMH, Pavel Alpeyev and Takako Taniguchi, 31 Mar 17, Toshiba shareholders have lashed out at management and lamented the downfall of the Japanese icon before approving the sale of its memory chips division to cover the billion-dollar costs resulting from its disastrous foray into nuclear energy.

Incensed investors took turns to hurl abuse at executives during a Thursday meeting convened to take a vote on the intended disposal of its prized semiconductor business. Toshiba is looking to sell a majority stake in the unit to mend a balance sheet ravaged by billions of dollars in writedowns related to cost overruns at its nuclear subsidiary Westinghouse Electric.

Westinghouse, which Toshiba bought for $US5.4 billion in 2006, filed for bankruptcy protection on Wednesday. The Japanese company said it may now book a loss of as much as 1.01 trillion yen ($11.8 billion) in the year ending March, a record for a Japanese manufacturer.

“Toshiba is now a laughing-stock to the whole world,” one shareholder said during a question-and-answer section, raising his voice. “I think all of you are incompetent as managers. Do you even know what’s happening?”

Another shareholder addressed the executives as “trash.”……. http://www.smh.com.au/business/world-business/youre-trash-investors-hurl-abuse-at-toshiba-managers-after-nuclear-debacle-20170330-gvah2j.html

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Prosecutors recently expanded a criminal case against Julian Assange to include accusations that he violated the Espionage Act by soliciting, obtaining, and publishing classified documents leaked in 2010 by Chelsea Manning, which could establish a precedent that such common journalistic activities (a separate question from whether Assange counts as a “journalist”) can be treated as a crime in America.

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Elizabeth Warren, Senator from Massachusetts,

Whatever one’s opinions of Julian Assange, these charges under the Espionage Act set a precedent that could be used to target journalists. We should not be using this case as a pretext to wage war on the First Amendment and go after the free press who hold the powerful accountable everyday. more https://www.nytimes.com/interactive/2019/us/politics/press-freedoms-executive-power.html

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