I worked for a GM supplier when the famous Jose Lopez transferred his methods from GM Europe to GM in Detroit - we didn't like home but his methods did seem to save GM (for a while). And then he was wooed by VW. Not clear what exactly happened but big claims by GM against Lopez and VW, stolen documents (future GM designs), federal charges in Germany and US and, finally, departure of Lopez and agreement from VW that they compensate GM (by buying $100M in parts) and, finally charges in Europe dropped and charges in US shelved.

Google "Lopez affair" - no single story has all the details. No story seems to express how shaken the GM relationships with suppliers changed and, especially the longer term development projects between GM and innovator suppliers. No story seems to express the distrust, the feelings of power shifts and GM fighting tooth and nail to prevent power shifts.

Anyhow, I don't know if VW had any hand in encouraging Lopez to bring the documents but some of the VW players mentioned by Bob Lutz in the VW Diesel scandal are the same as the Lopez affair.

 

The only people I feel sorry for are the guys that sounded the alarm, to save their integrity, their careers and their company, and were overridden by the jerks in the corner offices.

 

A partial settlement totaling over $10 Billion to be presented to a judge for approval.

http://www.bbc.com/news/business-36611152

 

http://www.reuters.com/article/us-volkswagen-emissions-settlement-idUSKCN0Z9235

VW is not expected to be allowed to resell or export repurchased vehicles, unless they convince regulators that they can be fixed, sources said.

Former owners of the polluting vehicles will also be eligible for compensation - although less than current owners, sources said.

I might have inhaled the fumes from one, we need to be eligible for compensation too.

 

I might have inhaled the fumes from one

And here I thought that you had only puffed...

 

And here I thought that you had only puffed...

As usual, I didn't inhale.

 

And here I thought that you had only puffed...

Sometimes it's an occupational hazard in the line of duty.

 

http://www.reuters.com/article/us-volkswagen-emissions-settlement-idUSKCN0Z9235


I might have inhaled the fumes from one, we need to be eligible for compensation too.

What is the basis for compensating former owners?

 

What is the basis for compensating former owners?

Having VW over a barrel screaming "just make it stop" with a blank check.

 

What is the basis for compensating former owners?

Define "former". Price and interest in owning VWs has fallen since September. Those who sold their VW's since then are former owners. I think they should be compensated for the lower-than-expected resell price.

I'm sure lawyers could find sympathetic jurors to explain arguments about how people who owned VWs prior to September 2015 and told anyone they bought the "Clean Diesel" and repeated any of Volkswagons claims of "environmental friendliness" to any other person damages the reputation of the former owner. And simply driving the Clean Diesel VW could be viewed as an endorsement of VW's environmental friendliness claims and therefore the reputation of the former owner was damaged.

They could also claim the people who specifically bought the VW in hopes of keeping the air in their community clean could sue because the vehicle did not meet the claim.

There is no reason for you to agree with these arguments - the lawyers only have to convince the jurors (that is, a group of people who are not needed enough by some other responsibility to get out of jury duty).

 

$10 billion divided into 500,000 owners is about $20k per owner. But the news is reporting numbers from $3k to $7k. Where's the rest to go if not to me the owner? Lawyers and government. I obviously have no say and will get a pittance. The smell of corruption coming from corporations and government is really getting overwhelming. Can I vote to leave? Very appealing idea.

 

You have feet.

 

http://www.bloomberg.com/news/artic...said-to-face-15-billion-tab-in-u-s-settlement

Volkswagen AG’s price tag to settle lawsuits in the U.S. over its rigging of diesel emissions tests has jumped to more than $15 billion -- $5 billion more than previously reported -- on the eve of a settlement to be filed Tuesday in a San Francisco court.

Under the deal, VW will set aside up to $10.03 billion to cover costs including buying back vehicles at pre-scandal values and compensating drivers as much as $10,000 per car for their troubles, two people familiar with the negotiations said. Those figures could rise if VW misses certain deadlines.

In addition, Volkswagen will pay $2.7 billion in fines that will go to the U.S. Environmental Protection Agency and the California Air Resources Board and invest $2 billion in clean-emissions technology, one of the people said. The carmaker is also expected to announce a settlement with states, including New York, for about $400 million, another person said.

That's it ....
http://media.vw.com/release/1214/

 

And, surprisingly, they reported cash holdings of $37B Euros at the end of last quarter. Not pretty but they may survive this better than I expected.

 

And, surprisingly, they reported cash holdings of $37B Euros at the end of last quarter. Not pretty but they may survive this better than I expected.

Just wait until the all the other countries with VW cases look at this settlement and start licking their chops. That $37B Euros is a goner.

 

Just wait until the all the other countries with VW cases look at this settlement and start licking their chops. That $37B Euros is a goner.

The estimates from various business analysts to automotive suppliers is that VW can handle up to $80B and survive.

 

The estimates from various business analysts to automotive suppliers is that VW can handle up to $80B and survive.

What the hell did they need to cheat for with that kind of cash?

 

What the hell did they need to cheat for with that kind of cash?

The rumor mill says a megalomanic former CEO - grow, win, make bigger bonus, ... He was not a nice guy.

 

The rumor mill says a megalomanic former CEO - grow, win, make bigger bonus, ... He was not a nice guy.

And if you add the narcissist, demagogue and despot ingredients you have the perfect recipe for a corporate tyrant... your regular Ahab going after his white whale

 

And if you add the narcissist, demagogue and despot ingredients you have the perfect recipe for a corporate tyrant... your regular Ahab going after his white whale

Ahab was a nice guy.