Cassandra Does Tokyo: The Cats In The Hat Won't Be Coming Back:
Lessons from the Olympus events (and many other similar crises):
(1) Never, ever, EVER try and trade yourself out of a loss; (2) Operating companies should not speculate outside their area of expertise for speculating is hard-enough for dedicated speculators; (3) Coming clean early with mistakes almost always trumps getting caught later with dishonesty. (4) If following the herd down a perditious route, one must take care not to be the last one left; (5) Listen to all approaches by investment bankers with the utmost of cynicism; (6) There are few free lunches. (7) If your excuse is too implausible or convoluted to convince your old schoolteacher, it is half-baked and you will be caught in your deception. Japanese organizational inertia carries unstoppable forces that can be harnessed for much good, but, when it goes awry, is capable unthinkable stupidity.
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