October 17, 2011
Posted in news

Woodford says: “company needs to be cleaned up”. Huge -23% value drop of Olympus shares.


What you see on top is a screenshot taken a couple of minutes ago (14:00 London time). It shows the market reaction after the latest ex CEO Woddofrd statement at Bloomberg: “The whole board is contaminated and that company needs to be cleaned up. The whole board have had discussions and vote unanimously and no one asks anything. It’s just complete and utter obedience to Kikukawa.” And “There were $800 million in payments to buy companies making face cream and Tupperware. What the hell were we doing paying $800 million for these companies?”. And there is more coming from W.: “The eventual cost of the Transaction to Olympus is extremely significant and is as a result of a number of actions taken by management which are questionable and which give cause for concern. We were unable to confirm that there has been improper conduct, however, given the sums of money involved and some of the unusual decisions that have been made it cannot be ruled out.” The end of MR.W interview sounds a bit dramatic: “I was extremely concerned for my safety and well-being, left Japan on the first available flight to London via Hong Kong on Friday afternoon.

What I didn’t know until today is that Woodford recommended Kikukawa and Mori resign from the board in an Oct. 11 letter!!! And only three days later Woodford was fired.

No matter who is right, the market believes in Mr. Woodford story. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Nomura Holdings Inc. cut Olympus’s ratings after the ouster. Something has to change inside Olympus, because many out there are not trusting them anymore!

October 17, 2011
Posted in reviews

Better than a rumor: “Driftwood” patch brings the GH2 quality on a new level. Rivals RED?

Tsawout Spit – Gh2 Test (driftwood 176mb gop1 hack) from mark wyatt on Vimeo.

Some news are sometimes even better than rumors! Who said you have to buy a new camera to increase the  video quality? With the latest settings from “Driftwood” (check here at personal-view) the GH2 can now record AVCHD Intra at 176Mbit. And plenty of users are now extremely happy with it. According to Perry Wilson (Click here to see his video on vimeo): “”I wish y’all could see the prores 422 HQ file, rivals RED all day long. Believe it or not this looks like crap compared to the prores“. And “This camera is changing my workflow and my company all in positive ways.” More videos have been posted on vimeo by John Justice and Orgie. And Hanadok posted an example video shot with the Olympus 45mm f/1.8 lens. Of course what you see on vimeo/youtube are compressed videos and do not reflect the real quality you can get with the new settings. All GH2 owners can hack the camera by using these instructions: http://www.personal-view.com/talks/discussion/332/ptool-3.60d-topic. And to see a list of all patches (including the driftwood) go here: http://www.personal-view.com/talks/discussion/953/gh2-patch-vault-most-popular-patches-in-one-place

P.S.: As I already told you the GH2 price is dropping slowly in US and Europe. Check at Amazon, Adorama, B&H, eBay (Click on shop name to visit the GH2 search page).

October 16, 2011
Posted in news

Ex Olympus CEO Mr. Woodford speaks to FT: “They told me to catch a bus to the airport”

Olympus shares dropped by 17,61% after the recent CEO dismissal (Soruce: Bloomberg).

Ex Olympus CEO Mr. Woodford has been interviewed by the Financial Times (Click here) and what you read is really giving you an idea of how bad things are ongoing at Olympus. Woodford checked the past acquisition strategy from Olympus and discovered that “large amounts of money seemed to have “disappeared” into the hands of poorly vetted outside financial advisers and investment vehicles.” and “a catalogue of calamitous errors and exceptionally poor judgment which … has resulted in the destruction of shareholder value of $1.3bn“.
And how did Olympus react? They told them to “to catch a bus to the airport“.

Editor’s note: I am not “for” nor “against” Mr Woodford. I am only reporting what he told about Olympus. And it is really not a good news!

October 16, 2011
Posted in deals

45mm lens in Stock at Amazon (+ new Olympus US rebates).

UPDATE: The Olympus 45mm f/1.8 lens is in Stock directly via Amazon (Click here). No third party resellers!

You can get a $150 discount on the 40-150mm lens when purchased with the E-PL1 and E-PL2 at Amazon (Click here) and BHphoto (Click here).

There is a $80 discount on the VF-3 when you buy it along the E-P3, E-PL3 and E-PM1.
E-P3 links: Amazon, Adorama, B&H
E-PL3 links: Amazon, Adorama, B&H
E-PM1 links: Amazon, Adorama, B&H,

Other deals reminder:
There is a $200 discount on the E-5 at Amazon (Click here), Adorama (Click here), BHphoto (Click here).
And the E-P2 body is available for $299 only at Amazon (Click here).

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