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via DealZone

M & A wrap: The man at war with Olympus

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Michael Woodford asked too many questions. That’s the reason the 51-year-old Englishman gives for why he lost his job as the first-ever foreign-born CEO at Japanese camera maker Olympus a mere two weeks after he was given the role in early October.

Woodford tells Reuters investigative reporters Kirstin Ridley and Alexander Smith in a new special report that it was his inquiries into a series of questionable takeover deals and advisor payouts the company made over the past half decade, including the biggest mergers and acquisitions fee ever, that led to his ouster. Board members insist instead it was Woodford’s failure to grasp the company’s management style and Japanese culture that cost him the job, but Woodford says allegations of a “power grab” by him are not the “real story”. Now, Woodford is on a one-man campaign to “cleanse” Olympus with the goal of removing its entire board.

Oct 31, 2011
via MediaFile

Tech wrap: New Nook Color on the way?

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Barnes & Noble sent out invites on Monday to a Nook-related event coming up on November 7. Most tech watchers expect the company to use the occasion to unveil a new version of its Android-powered Nook Color tablet e-reader, which could sport a better screen and upgraded hardware.

As CNet points out, the most anticipated question will be how much Barnes & Noble decides to charge for the new device. “With the Kindle Fire on sale at $199 (it ships November 15), there’s some pressure on B&N to come close to matching that price, though Amazon is allegedly losing money on each Fire it sells (our sources suggest the Fire currently costs around $220 to build). With that being the case, Barnes & Noble is more likely to come out with a faster, more powerful Nook Color that costs $249, though we wouldn’t be surprised to see it at $299,” writes David Carnoy.

Oct 29, 2011
Oct 29, 2011
    • About Matt

      "I'm an online news editor with Reuters. My job involves keeping a close eye on the fast-moving daily news file, updating our U.S., UK and Canada sites with the latest breaking news and content, and enhancing our coverage with multimedia elements from blogs to slideshows."
      Joined Reuters:
      2008
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