Looks like Der Fuerher is riding around in a Mercedes; not no stinkin' VW.

VW admits this is a global problem, possibly impacting 11 million vehicles:

Quote:BERLIN (Reuters) - Volkswagen AG (VOWG_p.DE) said a scandal over falsified U.S. vehicle emission tests could affect 11 million of its cars worldwide as investigations of its diesel models multiplied, heaping fresh pressure on CEO Martin Winterkorn.

http://finance.yahoo.com/news/volkswagen...45757.html

CEO almost certainly will be canned. Criminal charges likely to be filed. Class action lawsuits. Stock down another 20% today after a 20% drop yesterday.

A corporate disaster for the business school case studies...

As the old joke goes, what's the easiest way to build a moderately successful mid-sized company? Start with a very successful large one, if course.

The next crop of MBAs will have this as an example of what not to do.

Hell, the company big cheese needs a commendation for original thinking!

This was his Kobyashi Maru test and he 'Kirked' it.


[Everything I needed to know I learned on  Star Trek]

There should be some sort of punishment. I worked as a state-licensed (California) smog mechanic in the '70s and '80s, before graduating from the university and working as a mechanical engineer. If I had fudged a smog test, I would probably gone to jail. It's looking like possibly $18B in fines for VW. That's a number that can get most people's attention.

It reminds of when Sony was including malware on their music CDs to limit Digital Rights infringement. IIRC, the gov made Sony pay Microsoft to write the code to remove the malware. I do remember getting in a patch batch, back in the day. Sony payed a paltry $750k fine; MS would have likely gouged a deep enough hole in their wallet to make up for that.

(September 22, 2015 at 3:00 pm)JesusHChrist Wrote: Looks like Der Fuerher is riding around in a Mercedes; not no stinkin' VW.

Hey, he was der fuhrer, after all.

Nice-sounding apology from the CEO, but I doubt it'll be enough. Massive fines, 33% loss in share-value, and more importantly, loss in consumer trust ... VW's in for some rough years.

Quote:VW's in for some rough years.

Perhaps it is time to invade Poland?

(September 22, 2015 at 6:01 pm)Parkers Tan Wrote: Nice-sounding apology from the CEO, but I doubt it'll be enough. Massive fines, 33% loss in share-value, and more importantly, loss in consumer trust ... VW's in for some rough years.

The stock got murdered yesterday too.

The thing is, buyers at this level might do OK, but I personally wouldn't touch it with a ten-foot pole, because who knows what other skellys are in the closet. Last time I purchased a badly beat up stock like that it did not end well.

H-P?