Nissan Wins Ghosn’s Yacht, Walser Invests In Techs, Retail Locked Up

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

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Happy one year anniversary of ASOTU CON 2023! This Thursday, we’re talking about how former Nissan Chairman Carlos Ghosn was ordered to hand his superyacht over to Nissan, Walser Automotive’s partnership with Wichita State University Tech, and the effects of retailers putting products behind locks.

Show Notes with links:

• In a long-standing legal dispute, Nissan secured a court victory against its former chairman, Carlos Ghosn, who was found to have illicitly used company funds to buy a luxury yacht. The British Virgin Islands court ruling requires Ghosn to surrender the 121-foot superyacht "Shachou" and pay millions in damages.
  • The court found Ghosn funneled $32 million from Nissan’s CEO Reserve Fund through intermediaries, including Nissan Middle East, to purchase the yacht.
  • The Custom Line Navetta 37 yacht features five main cabins, four crew cabins, and seven bathrooms.
  • Ghosn, who fled Japan in 2019 to escape criminal charges, now lives in Lebanon under an Interpol red notice and denies all accusations, stating he will appeal the ruling.
  • Nissan lauded the decision as part of its broader legal efforts to recover funds misappropriated by Ghosn.
  • “Nissan will continue such efforts to make Carlos Ghosn accountable for his misconduct,” the company said in a statement.
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• Walser Automotive Group took a major step in addressing the nation’s skilled automotive technician shortage by partnering with WSU Tech to renovate its automotive service facility in Wichita, Kansas.
  • The Walser Automotive Service Lab is part of a $3 million renovation at WSU Tech.
  • The new 30,000-square-foot space includes expanded automotive program capacities and a heavy truck area.
  • Walser referenced a study showing a 3-to-1 demand-to-supply ratio for technicians, with over 600,000 needed by 2024.
  • Many other Walser employees in Wichita also receive continuing education through WSU Tech.
  • "WSU Tech has been a vital partner in supporting our techs’ growth. Strengthening our relationship with WSU was an easy decision." said Randy Lammle, Walser SVP of dealership operations.

• In response to rising concerns about shoplifting, many retailers have resorted to locking items in display cases. However, a new Consumer World survey suggests this approach may be harming sales as much as it helps prevent theft.
  • Just 32% of shoppers seek out an employee to unlock a case when faced with a locked product.
  • 55% will choose to shop elsewhere if an item is inaccessible, and 13% will opt for a different product in-store.
  • Retailers like Target have begun locking more items, citing organized retail crime, but recent data suggests concerns about theft are decreasing.
  • Amanda Mull of Bloomberg pointed out a growing frustration: “Stores that lock up too much stuff become giant vending machines with no place to insert your money.”

Hosts: Paul J Daly and Kyle Mountsier
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