Credited with the creation of CD Sony President dies

Former President and Chairman of Sony, Norio Ohga, shown in 1991, holds a disk Mini of Sony in New York. Ohga died Saturday at the age of 81 years of multiple organ failure. Richard Drew/Associated Press

Opera singer Norio Ohga complained about the quality of the Sony recorders until he was hired by the company, developed the compact disc and defended his superior.

Love of music led the career of former Sony President and in turn, he transformed the Japanese manufacturer of electronics into a global software and entertainment empire.

The President of the company, and President from 1982 to 1995, Ohga is died Saturday in Tokyo of multiple organ failure, says Sony. He was 81.

The connoisseur of the flambuoyant music led his work through his love of music. Ohga insisted for the CD be designed to 12 centimetres in diameter or 75 minutes, a value of music, to store of Beethoven's Ninth Symphony in its entirety.

From the beginning, Ohga acknowledged the potential for superior sound quality of the CD. In the 1970s, when Ohga insisted that CDS would eventually replace Records albums, skeptics scoffed.

Herbert von Karajan, Stevie Wonder and Herbie Hancock in the defence of his Sony digital.

"We are always chasing after things that other companies do key."-Norio Ohga, former head of Sony in 1998 interview

Sony sold first CD in the world in 1982 and CDs away sales of records LP, in the Japan five years later. The specifications are still used today and helped the devices developed since.

"It is no exaggeration to assign the evolution of Sony products audio and video in music, movies and game and the subsequent transformation into a leader world of entertainment to the foresight and vision, Ohga-san" Sony Corp. Chairman and Chief Executive Howard Stringer "."said Saturday, using the Japanese honorific title.

Certain decisions taken during the Presidency of the Ohga, such as the purchase of 3.4 - billions of dollars of Hollywood studios Columbia Pictures, have been criticized as little judicious and expensive at the time. But the focus of the Ohga on music, films and video games as a way to enrich ecommerce has helped create Sony success in his time.

"We are always chasing after things that other companies affect", Ohga said in a 1998 interview with the Associated Press.

"It is a great secret of our success."

Shattering the stereotype of the staid Japanese Executive Ohga has never been shy, her hair carefully smoothed back from its noisy exuding the fiery air yet na?ve artist. His character has added a touch of glamour to the Sony image at a time where the Japan had global ambitions.

An experienced pilot, Ohga sometimes flew the aircraft itself to business trips. A charm, he extolled his roast beef. His hobby crossed on his yacht.

President of the Tokyo Philharmonic Orchestra since 1999, he continued to lead there are a few times per year. In 1993, he led the Metropolitan Opera Orchestra at Lincoln Center's Avery Fisher Hall in charity funded by Sony.

Ohga was often compared to leading a company conducting an orchestra.

"Just as a conductor must work to bring out the best in his orchestra members, a President of the company must draw on the talents of the people in his organization," Ohga said in a 1996 Sony publication.

Sony began the destruction and poverty after the second world war and is built on the popularity of transistor radios, the Walkman, the TV Trinitron, CD - shaping the history of modern electronics.

Ohga had graduated from Tokyo National University of Fine Arts and music in 1953, and University of the Arts Berlin in 1957.

It was set to pursue a career as a baritone opera singer when co-founders Sony Masaru Ibuka and Akio Morita, intrigued by its complaints about the sound quality of tape recorders from Sony, the recruits for the company.

He was a leader of Sony, its 30 years a rarity in a Japanese company. He was appointed President of CBS Sony Records in 1970, President of what later became Sony Corp. of America in 1988 and Chief Executive of Sony in 1989. He left the day-to-day business in about 2000.

Ohga had attempted to lead a double life of artist and man of Sony. One day, he asleep from exhaustion in the backstage of the scene until they go in the marriage of Figaro, rushed in from the wrong direction and looked embarrassed colleagues stifle laughter.

He abandoned his career as an opera but still promoted classical music to the Japan supporting concerts and young musicians.

The company said that it was key in the construction of the Sony brand, working on the design, as well as the quality, manufacture products which seemed attractive to consumers.

Sony has encountered difficulties in recent years, lagging behind in the market of televisions flat rivals such as Samsung Electronics Co., South Korea, and digital music players to Apple Inc..

It is unique in having a Hollywood studio, a music recording business and PlayStation video games unit, although critics note he performs never fully the benefits of owning the electronics and entertainment divisions.

Ohga is survived by his wife, Midori. Sony said that a private wake will be held later.

Accessibility links

View the original article here

Ex-Taylor Bean recognized President guilty of conspiracy, fraud

April 20, 2011, 12: 04 am EDT by Tom Schoenberg

April 20 (Bloomberg)--Lee Farkas, former President of Taylor, bean & Whitaker Mortgage Corp., was found guilty on 14 counts of conspiracy and wire fraud, Bank and securities in what prosecutors said was a plan of $ 3 billion involving a fake active mortgage.

A jury in Alexandria Virginia, yesterday delivered the verdict after a day of deliberations. Farkas, who was free during the trial, was placed in detention. He faces a maximum sentence of 30 years on charges of conspiracy and bank fraud and 20 years or the counts of wire fraud and securities fraud when he is sentenced on July 1. prosecutors said Farkas, 58, orchestrated one of the largest and longest banking fraud in United States who fooled some of the largest financial institutions of the country. target for the Federal Bank rescue program and has contributed to the failures of Taylor Bean and based in Montgomery, Alabama Colonial Bank.Assistant Attorney General Lanny Breuer, head of the criminal division of the Department of Justice, fraud of Farkas said "poured fuel on the fire" of the financial crisis. "The financial crisis has many faces and now face of Lee Farkas is one of them,"Breuer, who attended part of the trial, said after the verdict to a conference call with journalists. "Current ' said InvestigationBreuer investigation of the Government in the fraud scheme is"in progress ". He refused to say if more people could be charged.Prosecutors spent eight days establishing the allegations of the jurors. The Government called 23 witnesses, including Freddie Mac, Bank of America Corp. and Deutsche Bank AG. Six of those who testified were former colleagues or associates of Farkas, who had pleaded guilty to charges of conspiracy.Farkas used Taylor Bean as his own "personal piggy" and stole more than 30 million of the company, he built to purchase houses, cars, planes, restaurants and other businesses aside, said Assistant U.S. Attorney Charles Connolly closing arguments.Farkas, who denied any wrongdoing, testified in his own name and called the two former employees of Taylor Bean and a forensic in its defence.William Cummings, one of the counsel of Farkas, said that the defence team was disappointed with the verdict. "We fought hard,"said Cummings, a former U.S. Attorney in Virginia." "Getting six former colleagues to plead guilty and to testify is difficult to overcome obstacle."Cummings said he was surprised U.S. District Judge Leonie Brinkema ordered Farkas to be imprisoned, adding that the judge has said that it would hear arguments week in whether to be released while he awaits sentencing next.Rolls RoyceProsecutors seek to seize properties Farkas has in Florida and the Georgia, and nine vehicles, including a model of Ford A 1929 and 1963 Rolls Royce.Taylor Bean, based in Ocala, Florida, has been serving over 500,000 mortgage loans with Freddie Mac loans $ 51 billion when it collapsed in August 2009, according to court records of.Prosecutors allege fraud began in 2002 when Farkas had blurred meeting expenses of operation, such as the list of payroll and loan mortgage maintenance payments to the Government - sponsored assistance Freddie Mac and Ginnie Mae.With of servants to the Colonial Bankboth among the 50 of the country more grandFarkas hidden gaps of about 15 million dollars a day by moving money to another account of Taylor Bean master account of the company, and then returning the money later in the dayAccording to a related prosecution by the U.S. Securities and Exchange Commission.Overdrawn AccountBy December 2003Bean Taylor has been overexploitation his account about 150 million dollars a day, the SEC said.Farkas, about four hours of testimony, denied ordering anyone to move money between accounts Taylor Bean and said that he and Taylor Bean employees have the power to do so.The Government claims that Farkas and other conspirators, in a system, they called "Plan B," began to send data from mortgage to Colonial Bank to loans that did not exist, or that Taylor Bean had already committed or sold to other investors.False LoansBy the end of 2007, the regime was composed of approximately 500 million in false residential mortgages and about 900 million in non-tradable residential mortgages and securities, said Patrick Stokes, Deputy Chief of the fraud of the Ministry of Justice of United States section., closing arguments.Farkas and his accomplices hijacking cash Ocala Funding LLC, a vehicle for funding used and controlled by Taylor Bean, to cover its losses, said prosecutors.Ocala funding issued commercial paper backed by assets of financial institutions, including the Deutsche Bank, the biggest German bank based in Paris, BNP Paribas, according to court documents. In August 2009, Ocala deficit had risen to $ 1.5 billion, according to prosecutors.As Colonial Bank is struggling to stay afloat, Farkas attempted to collect $ 300 million from private investors to ensure an infusion of cash of $ 550 million of the Federal Troubled Asset Relief Program, according to Paul Allen, former Director General company who pleaded guilty to conspiracy. Farkas was found guilty of falsely representing that he had commitments from investors for money.Colonial has never cover, said United States .taylor Bean funds accounted for approximately 2% of the mortgages for individual houses by volume purchased by Freddie Mac in 2009, according to a company filing. The firm said it filed a claim in bankruptcy Taylor Bean of $ 1.8 billion, with $ 440 million relating to the funds deposited with Bank.Alabama regulators seized Colonial Colonial Bank in 2009 and the Federal Deposit Insurance Corp. was appointed receiver. Colonial BancGroup and Taylor Bean filed bankruptcy in 2009.the is U.S. v. Farkas, is 10-cr-00200, U.S. District Court, District of Virginia (Alexandria).

-Editors: Fred Strasser, Peter Blumberg

To contact the reporter on this story: Tom Schoenberg in Washington to tschoenberg@bloomberg.net

To contact the editor responsible for this story: Michael Hytha to the mhytha@bloomberg.net

View the original article here

President TEPCO faces budget - Xinhua Committee

(BEIJING, April 19 Xinhuanet.com) - President of Tokyo Electric Power Company, Masataka Shimizu, has apologized for the disaster of Central Fukushima nuclear company.

It is the latest in a string of moves by the company, to appease public anger over the incident. Stuttard Matte has more.

Summoned to deal with the meeting of the Committee of the upper House of the Japan Budget.

Masataka Shimizu made his first appearance before legislators since the disaster broke.

And the look of unease was evident, because he was harassed and mocked.

Masataka Shimizu, TEPCO President, said: "I again deeply apologize for causing so many problems for residents near the complex, the people of Fukushima and the public, of the accident at the nuclear plant of Daiichi Fukushima.".

Shimizu apology comes after the resignation of company President Tsunehisa Katsumata. There is growing speculation that the President will follow him soon.

Before leaving the Katsumata announced premier card detailed road of the TEPCO to bring reactors of the nuclear plant under control within six to nine months.

Two-step plan is to first stabilize the installation and then limit the release of radioactive materials.

Tsunehisa Katsumata, former TEPCO Chiarman, said: "with regard to the timetable for achieving these objectives, there is all kinds of risks involved." However, we hope to achieve stage 1 on three months. We hope to achieve step 2 within three to six months. As we receive more specific goals, we will announce them. ?

According to Adviser a Government, the Japanese Government will closely monitor the implementation of the plan of TEPCO and hope that it can be done in advance.

But even with the announcement of the chronology, it is known when evacuated would be able to return home.

Last week, TEPCO announced plans asked the Government to give each household evacuated approximately 12 - thousands of US Dollars in interim compensation. But many evacuated people say that the offer is far from sufficient.

Analysts believe its road map and of the TEPCO pay plan only address concerns in the short term. In the long term, there is concern that the crisis could create a continuous for the Japanese economy.... negative spiral with the possibility of impact on the pace of the recovery of the financial world.

Special report: Quake Massive shakes Japan

?

View the original article here

Nigerian President re-elected, Violence in the North continues - voice of America

Scott Stearns. Dakar (Senegal), on April 18, 2011 a man jumps during a protest in northern city of Kano of Nigeria where running battles erupted between soldiers and demonstrators on April 18, 2011.

Nigeria Goodluck Jonathan President won re-election in a vote which provoked riots in the Northern States of the country which has supported its main opponent.

The results of all the 36 States of Nigeria, Chairman of the electoral commission Attahiru Jega announced that President Jonathan is the winner.

"Goodluck e. Jonathan of the PDP, have certified the requirements of the Act and scored the most number of votes is hereby declared the winner and his return elected," said Jega.

Voice of President Jonathan $ 22.5 million is nearly twice the number of second place finisher, former military leader Muhammadu Buhari, who won a little more than 12 million votes.? President Jonathan avoids an election tour, winning a quarter of the votes in at least 24 States.

That provision is intended to ensure that a Nigerian President has some national support and is not simply a regional candidate.? But a large part of the voice seems to have broken down on regional lines, with President Jonathan win the South and Mr. Buhari, winning the North.

The first results showing Mr. Jonathan head led to riots in some parts of the predominantly Muslim north.? In Kaduna State, home to the Vice President Namadi Sambo was burned and a 24-hour curfew was imposed after a prison was searched and detained released.

In the capital of Kano State, security forces fired shots in the air as young people who throw stones took the streets and chanted support for Mr. Buhari. Human Rights Watch, said at least 60 people have been killed in violence linked to elections since the first day of the month.

In his acceptance speech, President Jonathan said that his Government is taking all necessary measures to ensure the lives and property of all Nigerians.

"I forbid our leaders political and religious in their usual sense of patriotism to call on their followers reject all acts of violence and bitterness", stated President Jonathan. "As I have always said, political ambition of person not worth any Nigerian blood."

Mr. Jonathan thanked God and Nigeria's voters the opportunity to lead the country.

"In this election, we have found our unity as a nation under God, we reiterated our faith in democracy and emphasized our determination to fully to join the free world where only the will of the people is the basis of governance."? We will not let you down. ", he said.

The President Jonathan said he only there is no victor and not defeated as Nigeria is revealed to the world that it is capable of holding free, fair and credible elections.

"It is a victory for the livelihoods of our democracy, a victory which should celebrate all Nigerians - regardless of creed, ethnic origin or State of origin," says jonathan. "It is a triumph for our common destiny as a people with ideals shared dreams and hopes."

Mr. Jonathan congratulated the other candidates and said that the country is waiting for their continued leadership and commitment to build a nation.? The President said Nigeria must move away from partisan battlefields and find a national field of building a prosperous nation.

18-04-2011 Adio Samdio (Nigeria)

We thank God for the election of Nigeria, it was so peaceful.

19-04-2011 alwan m.mazen (USA).

It is important now the percentage of Muslims and Christians there before considering if there was any dishonesty in this election, or not.

19-04-2011 Maikudi kwajaffa (Nigeria)

The presidential election just concluded in Nigeria has been the most successful, free, fair and credible election ever conducted in the history of the nation. The opposition party should accept the result of good faith and look forward to the next provides in 2015. Policy is not a "do or die" business as violence erupted in the northern part of the country which led to the loss of many lives and properties. God bless Nigeria.

19-04-2011 zhu (China)

Riots is bad; people are victim

Required using this form, you accept the following: all comments will be reviewed before posting. Note - not all submissions will be posted. VOA has the right to use your comments in the world in any media produced VOA. Terms & Conditions

View the original article here

The Iceland President defends the towers before the crisis to promote the model of the Bank - Bloomberg

April 11 (Bloomberg) — the Icelandic President Olafur Grimsson speaks of the claims agreement filing with the United Kingdom and the Netherlands following a referendum in which Icelandic voters rejected a proposal to repay foreign applicants. Grimsson speaks of Reykjavik with Maryam Nemazee for Bloomberg Television "pulse." (Source: Bloomberg)

President ólafur r. Grimsson the Iceland defended his efforts to promote the model of Bank of the island in the years that led to the crisis, arguing that it was his duty to speak of an industry which was the creation of jobs.

"It is always the mandate of the President to support the economy of the country and these three banks were the biggest companies," he said in an interview on April 12, in Copenhagen before to speak at the Institute for Corporate Governance lessons from the crisis. "They were thousands of young Icelandic with employment opportunities, in Iceland and in other parts of the world."

The former leaders of the largest banks of the Iceland, which collapsed in 2008 after amassing debts more than 10 times the size of the economy, are now being surveyed financial crimes that prosecutors say stimulated the economic collapse of the island. Grimsson, 67, in a speech from May 2005 assigned Bank growth of the Iceland to the "corporate culture" of the country and a tendency to "challenge dominant theories taught in business schools met."

Now, Grimsson said "it would be strange if the President over the years had not participated in the promotion of the largest companies of the Iceland." Financial industry employee Island 4.3% of the active population of the country in 2006 or 7 300 persons, data show Statistics Iceland. Industry represents 5.1 per cent of workers in 2008, the Bureau believes.

The President in February blocked the efforts of the Government to settle the claims of foreign applicants from Landsbanki Islands hf, once the largest in the country second lender, arguing the taxpayers of the Iceland should not cover the losses created by poorly managed private banks. That triggered a referendum, in which 59.7% of the voters on 9 April rejected an agreement of Government with the United Kingdom and the Netherlands.

The dispute will now be settled in the Court of the European Free Trade Association at Luxembourg, where procedures are likely to take about a year, Finance Minister Steingrimur j. Sigfusson, said April 10.

Moody's Investors Service 23 February warned that failure to resolve the dispute filing, called Icesave, would trigger a junk e-mail rating downgrade. Fitch Ratings Ltd. has ranked Iceland debt non-investment grade since the veto of January 2010 the Grimsson of an applicant agreement earlier. Said companies that Iceland will experience difficulties tapping international debt markets unless the depositor claims are resolved.

Grimsson accuses rating firms to mislead the Iceland policy makers before the crisis by giving banks credit high notes. According to him, that he has travelled the world praising the "peculiar." Iceland lenders since they received very positive comments by the authorities of international rating

In an April 11 interview with Bloomberg Television, he called history of Moody on the assessment of the risks of credit "appalling."

Board of special inquiry Iceland, which last April published approximately 3,000 pages of results on the causes of the banking crisis, said the role of the Grimsson in the financial collapse was "particularly interesting", according to the report.

"It cannot avoid probing the Office of the President especially in this regard, because of his servitude, for the trip and individuals at the forefront" concluded the report. Grimsson is "moral responsibility for the theatre piece", the report. It "forcefully draws a picture embellished, arrogant and nationalist of the superiority of the Icelanders, based on the former heritage." Note that some of the qualities that the thought of the President have been admirable were exactly the characteristics that led to their and the disappearance of the nation. ?

Grimsson, stated that his support for the industry was also based on assessments by the authority of financial supervision of the Iceland. The Board of special inquiry found since the regulator does not have to monitor the banks properly.

"Although there are a number of warning signs, regulatory authorities and the international rating agencies continue to give banks very good remarks," said Grimsson. "As my colleague heads of States promote the larger companies in their countries, but a long part of the Presidency of the Iceland," he said. "" "". In the decades preceding it was mainly the fishing industry and agricultural societies but 10 years ago, that banks have become the largest companies. ?

Moody, rated the sovereign debt of the Aaa Iceland up to five months before its financial sector collapsed in October 2008, has stated in an April 2006 report written by analyst Joan Feldbaum-Vidra concerns "risks that may accompany an increased influence in the economy" have "recently been exaggerated."

Grimsson, who became President in 1996, is now touring geothermal expertise Iceland global promotion, including it in a January 28 interview in Davos, Switzerland, called "a very important global mission for the Iceland."

Olafur Hauksson, Special Prosecutor of the Iceland, has investigated 112 cases related to the banking crisis of the island. The Supreme Court sentenced March 24 brokers to failed Kaupthing Bank hf, once lender more of the Iceland, to six months in jail after finding that they manipulated bond deals. The District Court of Reykjavik sentenced April 7 Baldur Gudlaugsson, former permanent Secretary to the Ministry of finance, to two years in prison for insider trading with Landsbanki shares. Haukur Thor Haraldsson, a former manager with Landsbanki, was charged with money transfer illegally the subsidiary of the Bank to his personal account.

The full investigation of financial crimes which led to the collapse of the banking Iceland will be completed by 2014, said Hauksson.

To contact the reporters on this story: Christian Wienberg in Omar Valdimarsson London cwienberg@bloomberg.net to the valdimarsson@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger to tbrogger@bloomberg.net

View the original article here