Livedoor's Horie Arrested

[ron_ron]

I don't have much information on it at this point but the CEO of Livedoor just got arrested. The news media here is having a field day. They showed his car traveling all the way to the detention center by helecopter.

[ron_ron]

Livedoor's stock expected to drop drastically. There are worries it may greatly effect the Japanese stock market as a whole.

[ron_ron]

CFO and two directors also arrested.

[Receptional]

A Bloomberg article [bloomberg.com]

I love this excerpt demonstrating Japanese culture with fantastic fimesse:

A former Livedoor Co. executive Hideaki Noguchi, 38, in charge of investments died last week from an apparent suicide, police said.

Who says the age of the Samurai is past?

[bill]

A very interesting development in the Internet market. Thanks for the heads up ron_ron. The media never really cared for Mr. Horie, and neither did the old school businessmen. The press are indeed having a field-day with this one.

Here is one of the better articles I've read about this that gives a bit of background: Livedoor's Horie arrested [japantimes.co.jp].

The odd thing is a lot of people are already pronouncing this guy guilty due to all the media bashing. From my understanding there is still some uncertainty about the whole thing. The Japanese aren't traditionally all that fond of brash young businessmen who go against the grain and are yet successful. I get the feeling that a lot of people are really glad he's getting raked over the coals and being 'put in his place', or so to speak.