Nissan’s Profits Down – Waaaa!!

Nissan Motor Co.'s net profit fell to 104.4 billion yen in the third quarter, down from 135 billion yen a year earlier.

The company had to lower its net profit forecast for the full fiscal year to 460 billion from 523 billion.

Nissan's CEO said, "We have a performance crisis and need to fix it as soon as possible."

Yep, the company is in crisis…it is only going to make $3+ billion dollars this year instead of $4+ billion.

Tell that to GM, FORD or Chrysler and maybe they will join them at the bar to drown their sadness.

Ghosn said that in the future, Nissan would be 'very cautious' when announcing forecasts.

Stockholders want to know, what was the company being when giving previous forecasts.

What do you think?