Tuesday, March 29, 2011

TEPCO CEO Hasn't Been Seen In Weeks

Speculation now swirls around the whereabouts or existence of the CEO of the Japanese energy firm TEPCO which owns the facility at Fukushima. Business Insider relates:

"His company is in the midst of an existential crisis that may see it go bankrupt or nationalized. So where is TEPCO CEO Masataka Shimizu.

The Washington Post runs a startling report noting that he hasn't been seen in two weeks at his upscale Tokyo apartment, nor is he showing up in public, nor did he join the head of the country's nuclear safety board in front of the Diet.

There are rumors in Japan that he has fled the country or committed suicide, More likely, however, is that he's basically gone into hermitude, not unlike Toyota's CEO during the recent brake pedal controversy.

Politicians are furious, calling his absence inexcusable.

Meanwhile, TEPCO shares have crashed hard for the second straight day as the odds grow that a nationalization will wipe out all the equity."

No comments: