Wednesday, January 25, 2006

Japan trip, Part I

I am in Japan for the next two weeks on a business trip, and I will be blogging on the changes since my last trip. The main thing that is dominating the newspapers is the Livedoor scandal. It appears that wunderkid Horie Takafumi, the erstwhiel founder/president of Livedoor, cooked his accounting books to make it appear that Livedoor was doing better than it actually was. This scandal has mostly flown under the US media's radar, but it is dominating the media here in Japan. I have been amused at the feeding frenzy as every move by police and prosecurotrs is followed by a swarm of media members. It reinforces my opinion of most media members as fatuous, slavish followers who rarely if ever have the knowledge or professionalism to actually do their own homework.

In other news, it appeare that Japan is finally starting to come out from the post-bubble blues that have affected its economy for so long. I am noticing that there are fewer stories in the news about the bad economics, although that may have something to do with the approaching Olympics, which the J-media usually follows obsessively- at least as long as there are Japanese medal hopes.....

No comments: