Nissan Friday: Why Is This Man Smiling?
If you wanted to have a ten minute advantage (for placing those jumbo derivatives order into the mainframe of your hedge fund) before Nissan’s annual results for the last fiscal were announced in the newly redecorated meeting room on the 8th floor of their Yokohama headquarters, all you had to do was read the smiling faces of Nissan’s top lieutenants. Executive VP Andy Palmer was all grins.
U.S. and Canada sales chief José Muñoz was all smiles. Grinning, Nissan EVP Colin Dodge quickly turned away from the camera and tried to mislead this reporter by saying the cheery faces are “because it’s Friday.” Sure.
Minutes later, Nissan CEO Carlos Ghosn took the podium, and announced (with a serious face) that Nissan finished the year with an operating profit of $6.31 billion, and a net income of $4.13 billion. All of this contributing to a cash pile of $9 billion, good to have in these unsettled times. Ghosn promised a net profit of $4.23 billion for the year to March 2014. That was the boring part.
What is much more interesting is what Ghosn and his Lieutenants said later while chatting with reporters. We will hear them talk about Europe, China, America, about Leaf sales, about the foreign exchange, and even about Carlos Ghosn’s career. Some of it is good, some bad, some awful. We will cover all this in the course of this Nissan Friday. Because we don’t want Dodge to lie.
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- Redapple2 I m OK with State Inspections, OF 7 , 8 OR HOWEVER OLD CARS. I get a new car every 3-5 years. Well, that aint right. When I lived in NY, it would really fry my butt to be compelled to have my new car inspected. Add in 9% sales tax ( after i ve already paid ~50% on the money when I made it - so- i had to make $2 to have $1 in my pocket- So, net it back upward? > it s a 18% tax.) Add in massive property tax, state income tax. Brutal winters. I voted with my feet. Off topic a little. Sorry.
- Adamscotthi Thanks a lot for article!
- MaintenanceCosts This class of car competes hard with Chargers/Challengers and modded diesel pickups for the douchey-driving crown.
- 28-Cars-Later Corey - I think I am going to issue a fatwa demanding a cool kids car meetup in July somewhere in the Ohio region.
- Master Baiter Might as well light 50 $100 bills on fire.
He's smiling because his forehead extension surgery was a complete success?
He may be smiling but he sure could use Crest Whitestrips!