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Kobe Steel Ltd admitted on Tuesday its data fraud has been going on nearly five decades and also revealed new cases of cheating, highlighting the challenges facing the 112-year-old company mired in compliance failures and malfeasance.
...
Kobe Steel, which supplies steel parts to manufacturers of cars, planes and trains around the world, admitted last year to supplying products with falsified specifications to about 500 customers, throwing global supply chains into turmoil.
The company, in announcing the results from a four-month-long investigation by an external committee, said it had also found new cases of impropriety, widening the total of affected clients to 605, including 222 customers overseas.
"I feel heavy responsibility as our data falsification has caused trouble to so many customers," the resigning CEO and chairman, Hiroya Kawasaki, told a news conference.
Ya think?? You didn't feel any responsibility while you were fudging the numbers... only when you got caught?
They did this for 50 years... do you think putting out a compromised product lowered production costs? ... you better believe it.
It's probably something like they did it once without consequence, and continued the practice knowing they were wrong, but enjoying the benefits.
And that Kobe steel and other metals were used in all Toyota Corp. vehicles.
I know Japanese manufactures are always trying to get an advantage especially in the American market, but unlike China and the like you kind of expect Japan to meet specifications honestly.
CEO at 3rd Largest Steel Company in Japan Resigns... for Falsifying Specifications
A very good example of why industry needs to be regulated and held accountable. Left to themselves this is what you get, and over time gradually worse.
Kobe Steel Ltd admitted on Tuesday its data fraud has been going on nearly five decades and also revealed new cases of cheating, highlighting the challenges facing the 112-year-old company mired in compliance failures and malfeasance.
... Kobe Steel, which supplies steel parts to manufacturers of cars, planes and trains around the world, admitted last year to supplying products with falsified specifications to about 500 customers, throwing global supply chains into turmoil.
The company, in announcing the results from a four-month-long investigation by an external committee, said it had also found new cases of impropriety, widening the total of affected clients to 605, including 222 customers overseas.
"I feel heavy responsibility as our data falsification has caused trouble to so many customers," the resigning CEO and chairman, Hiroya Kawasaki, told a news conference.
Ya think?? You didn't feel any responsibility while you were fudging the numbers... only when you got caught?
They did this for 50 years... do you think putting out a compromised product lowered production costs? ... you better believe it.
It's probably something like they did it once without consequence, and continued the practice knowing they were wrong, but enjoying the benefits.
Could also throw this into the need for regulation debate.
CEO at 3rd Largest Steel Company in Japan Resigns... for Falsifying Specifications
A very good example of why industry needs to be regulated and held accountable. Left to themselves this is what you get, and over time gradually worse.
I wonder how many people died. Because thats what happens when your material doesnt meet specs.
Kobe Steel Ltd admitted on Tuesday its data fraud has been going on nearly five decades and also revealed new cases of cheating, highlighting the challenges facing the 112-year-old company mired in compliance failures and malfeasance.
...
Kobe Steel, which supplies steel parts to manufacturers of cars, planes and trains around the world, admitted last year to supplying products with falsified specifications to about 500 customers, throwing global supply chains into turmoil.
The company, in announcing the results from a four-month-long investigation by an external committee, said it had also found new cases of impropriety, widening the total of affected clients to 605, including 222 customers overseas.
"I feel heavy responsibility as our data falsification has caused trouble to so many customers," the resigning CEO and chairman, Hiroya Kawasaki, told a news conference.
Ya think?? You didn't feel any responsibility while you were fudging the numbers... only when you got caught?
They did this for 50 years... do you think putting out a compromised product lowered production costs? ... you better believe it.
It's probably something like they did it once without consequence, and continued the practice knowing they were wrong, but enjoying the benefits.
That's disgusting.
It places Millions of people at risk to injury or death, because the steel is not up to the established standard for its use.
Does everyone understand that the USA doesn't regulate IMPORTED Steel?
It's very very bizarre to see supposedly "pro Union" and "Buy American" Democrats defend Imported Steel and Aluminum that is both sub-par and a Security issue.
But that is the "Transformed America" that we now live in ...... "Buy Foreign", because we are still in a Total Hysterical Meltdown after a year and don't really care about American Made or American workers.
Does everyone understand that the USA doesn't regulate IMPORTED Steel?
It's very very bizarre to see supposedly "pro Union" and "Buy American" Democrats defend Imported Steel and Aluminum that is both sub-par and a Security issue.
But that is the "Transformed America" that we now live in ...... "Buy Foreign", because we are still in a Total Hysterical Meltdown after a year and don't really care about American Made or American workers.
Not to mention the upside down Trade Deficit.
In case you have missed the news. There probably are more republicans coming out against the tariffs then democrats. But carry on with your rant.
In case you have missed the news. There probably are more republicans coming out against the tariffs then democrats. But carry on with your rant.
It's now a "rant" to point out that the USA does NOT have "quality control" over Foreign steel??
Really??? I guess the definition of "rant" is now ....." WAH!! You said something I don't like and can't refute."
Sure, I know that Republicans are against these tariff moves that we don't even know the details of yet.
This is supposed to shock us??? There is a large NeverTrump coalition in the Elite Establishment Republican Party - they made that clear before and after the 2016 Election. Add to that - many of them are Bought & Paid for (as are Democrats) by Lobby Groups HIRED by these Foreign Importers.
It's up to everyone (including Establishment CongressCritters) who they wish to side with. It's a time for choosing.
1). I side with American Companies, American Workers and the safety and security of American Made.
2). I side with Foreign Powers, Foreign Made, Foreign Workers and Foreign Lobbys + Money in the pockets of US CongressCritters.
This is not Rocket Science ...... and then there is that pesky problem of a $800 BILLION (that's a B) Trade Deficit that impacts wages, taxes, GDP and our entire Economy.
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