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The lounge Relax, take a break from photo and camera talk - have a chat about something else for a change. Just keep it clean and polite!

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  #1  
Old 6th December 2011
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Good job the gear is good!

The company's not allegedly

http://www.bbc.co.uk/news/business-16044943
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  #2  
Old 6th December 2011
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Re: Good job the gear is good!

Interesting 'reaction' to this post - 78 views and 0 comments.

What's that all about? Blind brand loyalty no matter what - or parapetitus
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  #3  
Old 7th December 2011
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Re: Good job the gear is good!

Not sure what reaction you expected.
There is nothing any of us can do about this other than sympathise with the talented and hard working Olympus employees whose livelihoods must now be at risk.
I have read the English translaton of the commitee's report summary ( link on the Four Thirds User site) and it is clear that a handfull of Directors conspired to use illegal methods to try to cover up and recover losses from the 1990's and to hide this from other directors and senior managers.
Having in the past had some profesional dealings with Japanese corporations I have a little understanding of the Japanese work ethic of "the Boss is allways right" and how it may lead to this sort of situation if "the Boss" is in fact wrong. Perhaps we should be heartened that it took a British CEO (a very rare thing in Japan) to force this into the open and maybe, just maybe find a resolution to the situation. In interviews with Amateur Photographer he has stated that he believes that the camera division (a very small part of Olympus business) is worth keeping.

I don't think that " blind brand loyalty" has anything to do with a lack of reaction from members, just numb disappointment.

Meanwhile my Olympus equipment still takes excellent pictures in spite of my best efforts.
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  #4  
Old 7th December 2011
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Re: Good job the gear is good!

Excerpt from this news item:-


Although the report is stronger than expected, it does not contain any real new evidence about what happened at the company.

The independent panel which compiled the report was not authorised to pursue a criminal investigation.

Olympus remains under joint investigation by Japanese police, prosecutors, the markets regulator, UK's Serious Fraud Office and the FBI in the United States.


I think this contains the answer why nobody commented, it merely confirms what we already knew/suspected and have previously discussed in depth. What we are really waiting on now is news of how the company is going to move forward and in particular what it means for the camera division.
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Old 7th December 2011
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Re: Good job the gear is good!

To my mind there's little point in speculating on something I, as a mere mortal, cannot change.
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  #6  
Old 7th December 2011
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Re: Good job the gear is good!

Related to 'The Olympus Story', does anyone remember a television dramatised documentary about a U.S. insurance company that 'cooked it's books'? It was a long while ago - probably in the 70s.

As I recall, the company changed from a manual accounting system to a computer one (big mainframe job). The computer system wasn't ready to produce the accounts ready in time, so they took a guess at what they should be and published that. The problem was that when the real results came in, instead of showing the sort of growth that had experienced in previous years, there had been a reduction. The following year they 'adjusted' the computer data to show further growth, to maintain confidence in the market. To support this, they had a panel inventing people taking out insurance policies and subsequently dying. The company grew enormous on paper, until it all collapsed and the FBI came in.

Does anyone know what company it was - it was big news at the time?

Jim
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Old 7th December 2011
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Re: Good job the gear is good!

Jim, are you thinking of the Billion Dollar Bubble - http://www.imdb.com/title/tt0074206/ ? A dramatised depiction of a major fraud at the Equity Funding Corporation in Los Angeles.

To go back to EP-1 fan's original post - I looked at it, followed the link, thought it was quite interesting but, as other posters have said, didn't think there was much new in it. Thanks for posting it, it is good to follow the story, but I didn't have any comments that I thought were worth making.

Ciao ... John
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  #8  
Old 7th December 2011
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Re: Good job the gear is good!

I'd just have expected a bit of discussion about the future I suppose. My mistake.
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Old 7th December 2011
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Re: Good job the gear is good!

Not really much point speculating. It would be nice to hear something positive from Oly though but I guess it's too early for that.
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Old 7th December 2011
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Re: Good job the gear is good!

On a positive note they have quite recently - in the last week or so - been advertising on UK TV. So perhaps there is life in the old dog yet?
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Old 7th December 2011
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Re: Good job the gear is good!

Quote:
Originally Posted by E-P1 fan View Post
Interesting 'reaction' to this post - 78 views and 0 comments.

What's that all about? Blind brand loyalty no matter what - or parapetitus
Does the news make your camera not work all of a sudden...?
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Old 7th December 2011
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Re: Good job the gear is good!

"Blind brand loyalty...."

I think not...I think most, like myself, are stuck with the brand we've bought into. I for one am not in a position to change, so I'll stick with what I've got.

As John (theMusicMan) said, does this suddenly make your camera not work?

I really don't give a flying wotsit about what's going on with Olympus right now...it doesn't affect me. My camera still works and although I continue to hear sneers from Canikon owners on various forums about the problems the company is having, my camera still produces excellent results and that's all I'm bothered about.

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  #13  
Old 7th December 2011
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Re: Good job the gear is good!

Quote:
Originally Posted by Janet View Post

My camera still works and although I continue to hear sneers from Canikon owners on various forums about the problems the company is having, my camera still produces excellent results and that's all I'm bothered about.

Janet
That's quite incredible and is a sad reflection on the intelligence of those who make such comments. As photographers why would we want a camera manufacturer, even one we don't use, to go down the pan? All that would do is ensure we have less choice ourselves in the future. I'll gladly poke fun, tongue in cheek, at Nikon, Canon and their users but I sincerely hope both companies continue to thrive and be successful.
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  #14  
Old 8th December 2011
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Re: Good job the gear is good!

I'm really quite amazed at some of these replies. People don't seem willing, or maybe able, to discuss the moral and economic implications of this debacle as well as the implications for our own selfish personal photographic purchasing in the future.

Of course our cameras still work - who in their right mind thinks otherwise. As someone who doesn't run madly after the latest variant released and is quite content with my old E-P1 and E500 and a handful of amateur lenses I intend to use my gear until it breaks down and I can't get it fixed anymore. There's plenty of other comparable camera marques around - new and s/hand and I don't have too much to lose financially - unlike some members of this forum.

I did wonder whether or not Olympus users, particularly those with a heavy investment in the marque, might have specific and maybe special views on this awful scandal - the implications of which may even result in the demise of the brand we all love.

It seemed a reasonable idea at the time - ho hum.

Merry Christmas
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  #15  
Old 8th December 2011
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Re: Good job the gear is good!

You are quite right, there are major moral and economic implications. In its own way it could be similar in scale to the unravelling of the financial institutions in the West. It has exposed some very uncomfortable places that the "yes-sir" culture can lead - it doesn't come as much of a surprise, but I guess we just hoped it didn't happen too often.

It looks as if the problems at Olympus have been embedded for many years. And if Olympus, why not other huge companies? And is that culture limited to Japan, or is it spread more widely? There was a big element of it in the Billion Dollar Bubble film that we mentioned earlier. A scene I remember from the film was where the chief exec had got hold of the idea of "Art Lewis's program", Art Lewis being the actuary who programmed what he initially thought was a minor correction to the system. One the #1 Big Nob got hold of the idea that this program could solve everything, all his acolytes just said "Yes Sir" to him and "Make It So" to their minions.

Debauched Saturnalia ... John
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