Your company is in ruins. Your board of directors has ousted you in a coup d'etat and you are no longer in control. You have liabilities totaling nearly 100 billion yen. You haven't paid your employees in months. Tell the administrators you have "serious doubts" about their claims.
Lawyers for former Nova Corp. President Nozomu Sahashi Monday submitted a petition to a local court rebutting allegations that the head of the failed, Osaka-based foreign-language school chain had used the firm to benefit his own wealth and lifestyle.
The document submitted to the Osaka District Court also said Sahashi has "serious doubts" about a report issued Oct. 30 by a court-appointed Nova administrator on the company's financial state and that he demands a reinvestigation based on its accounting records.
You've all seen the spacious and garishly-decorated "office" Sahashi used to have, but apparently that was "a model home office to demonstrate the advantages of such space" Yeah, that's it, Nova is in the housing business. He was modeling it for a friend. The tearoom was for "trial language lessons at the school."
The reported rent of ¥2.7 million for the suite was apparently for the entire floor. The suite itself was only a third of the total--some ¥900,000 yen. You see! What a bargain! he was maximizing shareholder value.
Sahashi also disputed his remuneration.
Sahashi further denied reports that he had received some ¥300 million in annual compensation while the company itself incurred losses, claiming he only received "¥120 million at the most" as stock dividends have not been paid.
You see, the guy's not corrupt. How can anybody who says their salary is ¥120 million "at the most" be stealing from the company?
He also denied that the bizarre fluctuations in Nova's share price had anything do to with shady dealings.
"The large volume of transactions and wild price fluctuations came in the absence of factors encouraging investors to buy or sell Nova shares, market sources said."
So, the days of 36 million, 44 million, and nearly 60 million shares changing hands that we saw in September means that nobody is interested? Meanwhile, everyone is wondering if they'll ever see a single yen of what's owed them.
The man gets in a huff over statements made about the way he ran the company and the best he can do is mail in an angry letter. Perhaps he understands that everything that he built up has slipped from his grasp. His letter may be the shape of things to come. If and when Sahashi finally appears in public to account for his actions, he strikes me as the kind of person who would never admit to any wrong-doing.
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He's not such a bad guy
I worked at Nova from 1992-99. I worked my way up to head teacher by 97 and I had direct dealing with Mr. Sahashi on several occasions. He always was very gracious to me and gave me the utmost respect. He seemed genuinely concerned about all his staff and saw promotions to good workers as a way to keep the company growing.
He had all of the head teachers and AAMs over to his Summer home in Shimoda one time. He paid for about 30 rooms in a local hotel and RT Shinkansen tickets and was one of the most generous guys I've come accros in Japan.
I also met his wife and daughter and he had the image as a great family man who's wife was heavily involved in day to day operations and branch visits throughout Japan.
I call bullshit on those who say his office was a love den and he slept with all the young staff. He did keep salaries low for J staff but in those days even crap instructors got 10,000k raises every year. He is not a cheap man as I read here. The J staff didn't really do very much in most cases. They were yi=oung girls who made the schedule and cleaned. Maybe 2 or 3 x a week they would try to do a sales pitch to a walk in customer. 90% of their time was spent gossiping while the foreigners taught 7-8 lessons a day.
The big Honko schools had heavy sales and the staff did get much bigger bonuses. Maybe 5x more than staff in the quiet branches.
your comments make me blister
you say that he treated you with respect and generosity.
first you say that crap instructors can get 10k raises a year (not 10,000k) which you call generous, but then turn around and imply that foreigners labour at 7-8 lessons per day.
then you say that the J-staff's jobs are easy; weren't you a HT? they have targets to make and they get a lot of pressure from their bosses to meet targets, therefore, rendering them to lie to customers in order to try to achieve those targets. lying so hard and so much without much knowledge of the actual content (meaning lessons and reality of lessons as well as nova) is the model that a poor businessman like saruhashi drew up.
fact is that saruhashi did well in the beginning and then started living it up, but then ran into a brick wall in which he thereafter showed his inability and dishonesty, not to mention stubbornness, to run a business when it is in trouble. he's proven his lack of teamwork by going into hiding, leaving everyone in limbo and essentially disregarding everyone's situation. Everyone tried to play as a team, and he took advantage of it. What an ASSHOLE!!!
obviously a man of little talent, like the teachers and J staff he hires and trains (I don't mean all of you; there are some good teachers and staff out there).
for you to work at nova for that period of time and be wooed by someone you thought was a celebrity who rewarded you with such materialism as a member of the nova family (your position) without knowing how you really were.... geez.... he obviously got you by the dick very easily.
Saying that he treated you and other promoted people is proof of him being loose with the company's money, while dissing everyone else. Small J staff bonuses; 10K raises; are peanuts to the real picture. who the hell got a good raise in the last 5 years.
> obviously a man of little
> obviously a man of little talent, like the teachers and J staff he hires and trains (I don't mean all of you; there are some good teachers and staff out there).
Same goes for the rest of the Nova administration, especially the Board of Directors who did nothing during this situation.
what an uninformed ass
The guy left in 1999? How does that make him qualified to comment on the current situation. Even if Saruhashi was an alright guy in '99 (which I doubt) does that then infer that people can't become dishonest and greedy over time? Doesn't the fact that the position he once held in the company no longer exists reflect on that fact that things have, in fact, changed for the worse in respect to the respect shown to teachers in the company? How can anyone tow the company line with the near constant flow of negative press right now? I say boo to you formerHT, you have NO IDEA what you're talking about.
Lavish parties, yearly
Lavish parties, yearly raises....well, I guess that makes him all "white" then, doesn't it? They sure make it easy to become a "team player" don't they? Even serial killers' neighbors always say that they were nice people. That doesn't excuse them from their actions. Since when did someone's "niceness" become the measure of their innocence?
Former HT, you make a
Former HT, you make a mockery of all the people out there suffering in one form or another. Not only did you leave Nova almost a decade ago, when things were going well, but you seem to have ignored all the factual reports that have been broadcast about Sahashi's nefarious activities. At least 300 000 students out of pocket, 4 000 teachers and 2 000 staff with no money, battling to pay their rents and bills, and you talk about the nice guy that he WAS. Does that mean then that just because he was nice he didnt fleece the company of millions of dollars through the Ginganet equipment, is his selling of his shares without informing JASDAQ any less illegal because he was nice, is his inability to be honest with employees and customers any less galling because he was nice. Seriously though, in my local language we have a saying, roughly translated means 'Just because you remember eating a few years ago, that will not fill your belly now'
Yeah Right!
Saruhashi was such an uptight prick that refused to communicate with people right to the bitter end. So why would he hold trial lessons in his office? Why would he use his office as a showroom? Nova's whole premise is to learn english ABROAD at your local station. so why would you conduct a trial lesson in a Japanese tea room?
He is so used to lying he can't help himself! However, this time he has to answer to someone and he must do a better job than this. I don't think I have ever actually wanted someone to be arse raped in prison before but hey, there's a first time for everything!
Interpret as you will
Punish the Monkey
They're driving long nails into coffins
You've been having sleepless nights
You've gone as quiet as a church mouse
and checking on your rights
The boss has hung you out to dry
And it looks as though
they'll punish the monkey
and let the organ grinder go
You've been talking to a lawyer
Are you going to pretend
that you and your employer
are still the best of friends?
Somebody's going to take the fall
There's your quid pro quo
They'll punish the monkey
and let the organ grinder go
Here comes a policeman
He won't be sidetracked
He's asking about a smoking gun
He's after the facts
It's a quiet life from here on in
You've dropped your poison cup
The telephone is ringing
but you're not picking up
Time's up, Sir Lord Flunkey
And everybody knows,
they'll punish the monkey
and let the organ grinder go
Mark Knopfler - Kill To Get Crimson (2007)
http://www.youtube.com/watch?v=QBCP5myaKnk
are you f**king crazy????
are you f**king crazy???? sahashi is a nice guy?? the guy had an ostentatious office while his foreign employees were being evicted from their apartments. hmmm . . . I wonder if you would still deify sahashi had you been one of the instructors who got evicted from their apartment and if your salary had not been paid for two months and you were forced to eat 100yen cup ramen for breakfast, lunch and dinner??
Mr Sahashi :-)
I agree with former HT, Monkey Bridge is one of the nicest guys you can ever meet. He told me this himself. Why should I, or anyone else doubt him? He only ever wanted the best for everyone, and was willing to sacrifice himself if necessary.
Echoes of Enron in all this.
Echoes of Enron in all this.
We learn from...
you gaijinz (especially Amerikanz) and make it better!
"He's not such a bad guy" - actually pretty typical....
When eikaiwa go bankrupt, it's not unusual for one or two foreigners who had contact with the head to say "he was a very generous guy".... You can certainly buy the affectations of a person with generosity. The first post by "former HT" is the quintessential example of such, they remember how good it made them feel to be 'honored' with personal contact with such a person. It is a pivotal experience in the journey of self actualization of a person who has no ability to look beyond their own nose.
Saruhashi was (and is) a very bad person... no matter how graciously he treated you. He lied constantly, deceived investors, screwed over thousands of staff and teachers, and tried to con companies into buying warrants that would have left them holding an empty sack. The list goes on and on but "former HT" can only think of how nice Saruhasi was to them.... it's honest AND shallow.
The money Saruhashi spent on "former HT" and friends was solely for Saruhashi's own ego. Any doubt that he lapped up the superficial admiration of those around him, fueling his own egotistical metamorphosis?
its sad to read "former HT"s comments but it's not without precedent. putting up 30 people in a hotel for a visit to his summer home.... yeah.. that's a good way to measure the strenght of a man's character... how much he strokes you...
sheesh!
What's wrong....?
What's wrong with making some money? "If you are so smart, why aren't you rich?"
Now shut up and go work for this school!!!! Give me hell,asou?!
I GIVE YOU HELL!!!!!!!!! G.Communication "G" is for "jigoku!"
http://www.letsjapan.org/?q=horror_in_hokkaido.html
Be thankful!!! I saved you lot!!! Best I can do!!!! janei.
You stupid, naive, easily won over, insensative fuckwit.
I want to write something witty about you, the writer of the "hes not so bad comment", but I don`t need to as your obvious infantile stupidity far outshines even the most witty of responses. You sir, are an absolute fuckwit who knows nothing about life.
What type of a response did you think you were going to prompt? Did you think the readers of this blog would read your shit, absorb your oppinion and consider thus, "yeah, this guy`s got a point, Saruhashi is a standup guy, lets here it for monkeybridge, three cheers for monkeyfuck!"
Did you even begin to consider just how pissed off people are about this prick? More to the point, have you considered how many people this arsehole has affecteed and the damage he has done through his greed, selfishness, stuborness and raw stupidity? Furthure more, did you lend any thought to the fact that him splurging on company managers - not teachers and staff I might add, but management - was a haphazard and foolish way to spend company money? Oh, sorry, you didn`t think HE paid for it, did you? Of course he didn`t, your little playtrip was 99% likely paid for by the very people who have just been fucked over.
Now fuckoff, you`re not welcome here. I`ve said all I have to say.
FORMER HT YOU ARE AN AssHOLE
No comment
HT sucks balls
Um, HT did he pay you your salary way back then?
Oh is that right? you got paid
stupid tool
How ignorant??
Former Head Trainer, how could you make foolish claims?? You stated that all the Japanese staff did were "scheduled and cleaned." As an assistant trainer, I stayed an extra 15 to 20 minutes after work to help the Japanese staff close the school. When the students left, I have seen many Japanese staff cry because of the burden NOVA placed on their shoulders. Furthermore, a former Japanese staff confined in me that she vomitted after work because of the pressure she received from management for failing to meet the sales target. Moreover, staff would stay an hour or sometimes two hours after 9pm, which WERE UNPAID OVERTIME, just to complete their work. My advice, since you have angered a lot of people with your claim, please do not continue to defend an evil man.
He's not such a bad guy...HT Read this!
http://en.wikipedia.org/wiki/Confidence_trick
Sahashi used technique 3.7 on you!
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