On Tuesday, Nissan (OTC: NSANY) posted its earnings on November 12, clearly showing that the nightmare

On Tuesday, Nissan (OTC: NSANY) posted its earnings on November 12, clearly showing that the nightmare that started with Ghosn’s arrest is not nearly over. The Japan’s second biggest automaker’s shares were 19% down for the year, but its profits plunged way more than expected, 70% to be exact. The company is losing market share pretty much everywhere and is not showing any signs that an effective turnaround plan is in place. The revenue for the quarter dropped 6.6% in line with analyst expectations, amounting to $24 billion. But more importantly, Nissan decreased its sales forecasts for the fiscal year that ends in March 2020-, expecting sell 5.2 million car, which is 5.4% less than what it initially anticipated. Consequently, post-operating profit is expected to be less than previously estimated $2.1 billion for the year, the figure being slammed to $1.4 billion. After 130 days of being imprisoned in a Japanese detention centre, Ghosn still denies every charge and is fiercely seeking to have his case proclaimed null and void- despite his own defence and other legal experts finding it unlikely. But despite costing Nissan a whole year and immense losses, the Gh...

Car2Go car-sharing in Chicago on pause following fraud problem

Daimler’s Car2Go car-sharing program gives its users the chance to hop into select Mercedes or Smart vehicles for short periods of time, whether it’s for a jaunt out of town or just a quick trip to the grocery store. In Chicago, though, it appears the vehicles are being used for somewhat different purposes — committing crime. A tweet from CBS News Chicago’s Brad Edwards alleges that Car2Go’s service in Chicago was “hacked,” citing sources. Edwards’ tweet claims that almost 100 cars are involved, and that they have been taken illicitly and used to commit crimes.  Breaking: “Car 2 Go” app “hacked” in Chicago. As many as 100 Mercedes / high-end cars missing / stolen. Many being used to commit crimes. > 12 people in custody so far. Per sources. Developing. @cbschicago CBS News reports that Car2Go has paused its service in Chicago, saying in the app that it “will provide an update as soon as possible.” Car2Go says it wasn’t a hack, however, but rather fraud. “We are currently working with law enforcement to neutralize a fraud issue, isolated to Chicago,” said a Car2Go spokesperson in an emailed statemen...