TTAC Photo Documentary: Carlos Ghosn Talks The Yen Down. And Nearly Succeeds
Today, Nissan had invited distinguished guests, from the Governor of Kanagawa province all the way to the chief of the local fire department, to commemorate the 30th anniversary of the Nissan Technical Center. Nissan’s main R&D hub is a city of 9,500, nestled into the foothills of Mount Fuji and surrounded by hills that keep it away from prying eyes. To get there, you must drive through a tunnel. Let’s see what we find here …
The not so distinguished members of the media totally ignore occasion and location, and ask Nissan CEO his favorite question: What does Carlos Ghosn think of yen and dollar?
That gets the CEO going!
But then, didn’t the yen stop growing a few days ago? On February 2, the dollar bought only 76 yen, yesterday, the dollar fetched 81.6 yen. Isn’t that a positive sign?
Actually, while Ghosn talks, the yen regains strength. A dollar buys only 81 yen as Ghosn says this. How much (or little) is the Japanese yen worth, thinks the CEO?
As Ghosn says this, the yen retreats!
Ghosn keeps talking about his favorite topic.
What was that? The authorities?
The market hears that Ghosn won’t do it alone, but counts on governments to bring the yen into “neutral territory,” and immediately, the yen starts appreciating again.
As Carlos Ghosn exits stage left, the yen is back doing its old thing. It is getting stronger.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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Italian? Ghosn is Lebanese-French by way of Brazil, I thought.
Whatever his nationality, he sure is animated though!