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Nissan CEO: Japan female bosses goal too ambitious

By WTOP Staff

YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Nissan’s chief executive, who has long made a point of promoting women to management positions, said the Japanese prime minister’s plan to boost female bosses to 30 percent by 2020 is too ambitious.

The participation of women in Japan’s workforce is very low by developed nation standards. Women make up 2.9 percent of manager-level and higher positions at Japanese companies employing 5,000 or more people. Abe wants to increase the number of women in jobs at all levels because Japan’s population is aging and its workforce is shrinking.

Nissan Chief Executive Carlos Ghosn is advocating that women make up 10 percent of Nissan’s managerial ranks in Japan by 2017.

But Ghosn said he wasn’t about to rush things just because having women visible in management ranks has become more topical in Japan.

The proportion of women in management at Nissan in Japan is now 7 percent, although it’s higher for Nissan globally at 10 percent.

When asked why he was not as ambitious about empowering women as Abe, Ghosn said he didn’t want a negative effect by having women fail as a result of being promoted with insufficient experience, which would be a step backward.

He instead hoped to have women “advancing safely,” he said

“I’m being conservative. I’m being prudent,” Ghosn told the Foreign Correspondents’ Club of Japan in Tokyo.

The Geneva-based World Economic Forum ranked Japan 105th in last year’s Global Gender Gap Report, which measures economic equality and political participation. Iceland was No. 1, followed by the Scandinavian nations. Germany was 14th and the U.S. 23rd.

Women make up 3.9 percent of board members of listed Japanese companies, versus 12 percent in the U.S. and 18 percent in France, according to the Organization for Economic Cooperation and Development.

A Brazilian-born Frenchman of Lebanese ancestry, Ghosn was critical of the sexist corporate culture of Japan Inc. almost as soon as he arrived in 1999.

Ghosn, who also heads Nissan’s alliance partner Renault SA of France, has led a business overhaul at Nissan.

Japanese prime ministers rarely last too many years in office and so it is possible Abe will never be held accountable for the numerical targets he has set for promoting women.

It’s a different situation for Ghosn, who answers to investors, reporters and consumers on all the promises that he makes.

Although Nissan was quick to wave the flag of promoting women, it has not been as quick to tap them to its board of directors.

Japanese rival Honda Motor Co. appointed a woman to its board for the first time earlier this year.

Toyota Motor Corp., the world’s top automaker, has no women on its board, and has said it has no immediate plan to add any.

Ghosn stressed Nissan sees women as important car buyers, and what they look for, such as seat positioning, interior materials and safety features, are critical in developing models.

That’s why it’s in Nissan’s interests to have women in “decision-making” positions, he said.

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Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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