Mugen GONE :O ?
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From: Crazy Canuck, Everywhere
Mugen GONE :O ?
This was taken from F1-Live.com:
Mugen was established since 1973
Former Honda-owned Formula One engine supplier Mugen said Friday it would hand over all of its operations to a new company following the arrest of its president for massive tax evasion.
The new firm, named M-TEC, will be set up on October 1 and based at Mugen's headquarters in Asaka on the northern outskirts of Tokyo, while retaining Mugen's brand name and 150-strong workforce, a company statement said.
Mugen Co. board member Shin Nagaosa, 54, will become president of the new firm which will be capitalised at 30 million yen (256,000 dollars) and strive to secure "transparency" in management, the statement said.
"We will not just seek a new image or frame of mind. We need to create a new environment in which we work flat-out to maintain good relations with our associates," Nagaosa told AFP.
Mugen president Hirotoshi Honda, the eldest son of Honda founder Soichiro Honda, and auditor Norio Hirokawa were indicted in July on charges of evading one billion yen in corporate tax. Honda 61, earlier said he would step down as Mugen head although he had never been involved in the case.
"We reached the conclusion that a new entity is necessary to continue our operations while being involved in criminal and civil court proceedings over the charges," Nagaosa said.
The indictment said Honda conspired with the auditor to hide 2.83 billion yen of the company's income to evade taxes by moving the funds to a subsidiary under the guise of payments for machine-leasing and other transactions in the three years to October 2000.
Mugen, meaning infinity, was established in 1973 as a key affiliate of Honda's racing division. After a brief F1 stint, Mugen re-entered the premier motorsport circuit in 1975 with the Ligier team.
Mugen-powered machines won four F1 races before the company pulled out at the end of the 2000 season, making way for Honda's full return to Grand Prix racing. Mugen has since been producing engines and machines for races, mainly the Formula Nippon series, in a tie-up with Honda.
Mugen was established since 1973
Former Honda-owned Formula One engine supplier Mugen said Friday it would hand over all of its operations to a new company following the arrest of its president for massive tax evasion.
The new firm, named M-TEC, will be set up on October 1 and based at Mugen's headquarters in Asaka on the northern outskirts of Tokyo, while retaining Mugen's brand name and 150-strong workforce, a company statement said.
Mugen Co. board member Shin Nagaosa, 54, will become president of the new firm which will be capitalised at 30 million yen (256,000 dollars) and strive to secure "transparency" in management, the statement said.
"We will not just seek a new image or frame of mind. We need to create a new environment in which we work flat-out to maintain good relations with our associates," Nagaosa told AFP.
Mugen president Hirotoshi Honda, the eldest son of Honda founder Soichiro Honda, and auditor Norio Hirokawa were indicted in July on charges of evading one billion yen in corporate tax. Honda 61, earlier said he would step down as Mugen head although he had never been involved in the case.
"We reached the conclusion that a new entity is necessary to continue our operations while being involved in criminal and civil court proceedings over the charges," Nagaosa said.
The indictment said Honda conspired with the auditor to hide 2.83 billion yen of the company's income to evade taxes by moving the funds to a subsidiary under the guise of payments for machine-leasing and other transactions in the three years to October 2000.
Mugen, meaning infinity, was established in 1973 as a key affiliate of Honda's racing division. After a brief F1 stint, Mugen re-entered the premier motorsport circuit in 1975 with the Ligier team.
Mugen-powered machines won four F1 races before the company pulled out at the end of the 2000 season, making way for Honda's full return to Grand Prix racing. Mugen has since been producing engines and machines for races, mainly the Formula Nippon series, in a tie-up with Honda.
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From: Jetsetter
Re: Mugen GONE :O ? (BABY NSX)
Mugen is not gone. The brand will remain. If you read the original news release, Mugen's immediate response was that they were going to create a new company.
A lot of times these things can be good for a business becuase they can assess a number of different things and use the event as an impetus for change.
Ausmith - who's business is undergoing a complete makeover right now...
A lot of times these things can be good for a business becuase they can assess a number of different things and use the event as an impetus for change.
Ausmith - who's business is undergoing a complete makeover right now...
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From: OH, USA
Re: Mugen GONE :O ? (Nick M)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Nick M »</TD></TR><TR><TD CLASS="quote">They should have been arrested for charging the prices they do for parts 
</TD></TR></TABLE>
My thoughts exactly
</TD></TR></TABLE>My thoughts exactly
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From: Lost Somewhere
Re: Mugen GONE :O ? (CPR)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by CPR »</TD></TR><TR><TD CLASS="quote">So wait...what if we have parts on order placed from 4 months ago?</TD></TR></TABLE>
hope they are still being made
hope they are still being made
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From: Dallas, Tx, USA
Re: Mugen GONE :O ? (swtxaznrac3r)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by swtxaznrac3r »</TD></TR><TR><TD CLASS="quote">
hope they are still being made</TD></TR></TABLE>
crap ....dont you people ever read ......like the whole article ....
The new firm, named M-TEC, will be set up on October 1 and based at Mugen's headquarters in Asaka on the northern outskirts of Tokyo, while retaining Mugen's brand name and 150-strong workforce, a company statement said.
hope they are still being made</TD></TR></TABLE>
crap ....dont you people ever read ......like the whole article ....
The new firm, named M-TEC, will be set up on October 1 and based at Mugen's headquarters in Asaka on the northern outskirts of Tokyo, while retaining Mugen's brand name and 150-strong workforce, a company statement said.
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Re: Mugen GONE :O ? (tsunami_zc)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by tsunami_zc »</TD></TR><TR><TD CLASS="quote">
crap ....dont you people ever read ......like the whole article ....
The new firm, named M-TEC, will be set up on October 1 and based at Mugen's headquarters in Asaka on the northern outskirts of Tokyo, while retaining Mugen's brand name and 150-strong workforce, a company statement said. </TD></TR></TABLE>
LOL! My thoughts exactly.
Chris - who read the article. from the start to finish. the entire article.
crap ....dont you people ever read ......like the whole article ....
The new firm, named M-TEC, will be set up on October 1 and based at Mugen's headquarters in Asaka on the northern outskirts of Tokyo, while retaining Mugen's brand name and 150-strong workforce, a company statement said. </TD></TR></TABLE>
LOL! My thoughts exactly.
Chris - who read the article. from the start to finish. the entire article.
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From: Kent, Wa, USA
Re: Mugen GONE :O ? (Nick M)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Nick M »</TD></TR><TR><TD CLASS="quote">They should have been arrested for charging the prices they do for parts </TD></TR></TABLE>
understandable but they are pretty much top of the line for honda
</TD></TR></TABLE>understandable but they are pretty much top of the line for honda
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From: Pegging the bling meter
Re: Mugen GONE :O ? (RaVAGE00)
Sort of how World Com is now called MCI (they took the name of a company that they purchased).......
Its still the same old bullshit, I am sure that the prices for Mugen parts will remain the same!
Its still the same old bullshit, I am sure that the prices for Mugen parts will remain the same!
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From: Seoul, Korea
Re: Mugen GONE :O ? (canuck-mx6)
Maybe their products costs so much, 'cause Hirotoshi Honda had to pocket all that money. Now that he's gone, maybe their price will go down?
Or, in order to rebuild their customer's confidence in them, they should have a massive discount.
Or, in order to rebuild their customer's confidence in them, they should have a massive discount.
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From: AB
Re: Mugen GONE :O ? (VWkila)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by VWkila »</TD></TR><TR><TD CLASS="quote">
Or, in order to rebuild their customer's confidence in them, they should have a massive discount.</TD></TR></TABLE>
I wouldn't bet on it!
Or, in order to rebuild their customer's confidence in them, they should have a massive discount.</TD></TR></TABLE>
I wouldn't bet on it!
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From: city of angels, CA, USA
Re: (^colyer)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by ^colyer »</TD></TR><TR><TD CLASS="quote">I herd that this was an advantage for Spoon. Me thinks spoon might become top dog now.</TD></TR></TABLE> never! But the mass discounting to get customers' confidence back sounds like a great idea.
But the mass discounting to get customers' confidence back sounds like a great idea.
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From: Northern, California, USA
Re: (nEoMuGen)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by nEoMuGen »</TD></TR><TR><TD CLASS="quote">I say while it's weak we all jump in and buy their stock...so HT can own Mugen!!
</TD></TR></TABLE>
LOL
</TD></TR></TABLE>
LOL
jus f0 dekarayshunZ
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From: Made in Zimbabwe
Re: (nEoMuGen)
this is kind of old...someone posted this about a month ago..not really shocking..everyone is human and has flaws...i didnt know that they were so closely related to honda ..ELdest son
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From: Socal, CA
Re: (nEoMuGen)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by nEoMuGen »</TD></TR><TR><TD CLASS="quote">I say while it's weak we all jump in and buy their stock...so HT can own Mugen!!
</TD></TR></TABLE>
That would prolly be too expensive for the cheapskates here.
</TD></TR></TABLE>
That would prolly be too expensive for the cheapskates here.
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From: Charleston, SC
Re: Mugen GONE :O ? (Nick M)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Nick M »</TD></TR><TR><TD CLASS="quote">They should have been arrested for charging the prices they do for parts </TD></TR></TABLE>
What the **** are you talking about? I would pay $40 anyday for the high quality cloth reservoir covers that they offer!
</TD></TR></TABLE>What the **** are you talking about? I would pay $40 anyday for the high quality cloth reservoir covers that they offer!
