The green game ...
http://www.nytimes.com/2015/09/19/business/volkswagen-is-ordered-to-recall-nearly-500000-vehicles-over-emissions-software.html
it is all a matter of greed and deception.

$18b...that is the end of an Empire! ;)

They took in $240.1b last fiscal year, so it would be just a haircut.

The green game ...
http://www.nytimes.com/2015/09/19/business/volkswagen-is-ordered-to-recall-nearly-500000-vehicles-over-emissions-software.html
it is all a matter of greed and deception.

$18b...that is the end of an Empire! ;)

They took in $240.1b last fiscal year, so it would be just a haircut.

Yes, but that US$240.1 Billion (€202.5 Billion) was not profit.
It was sales revenue.

After-tax profit was about €11.1 Billion in 2014 and €9.1 Billion in 2013.


http://annualreport2014.volkswagenag.com/consolidated-financial-statements/income-statement.html

11.1 + 9.1 = 20.2

€20.2 Billion, at current exchange rates is about US$22.8 Billion.

A US$18 Billion fine would wipe out most of VW's profit over the last TWO years.

And it is possible that it is just the tip of the iceberg.

482,000 vehicles... US$37,500 fine PER VEHICLE... US$18.075 Billion

And That is just the US Federal Fine for violating ONE law. Its almost a certainty that VW broke other Federal Laws by selling those model cars in the USA with the software 'defeat device' installed to fake emissions testing (without telling the consumer -- ahh, the smell of fraud in the morning... smells like billable hours for a bunch of lawyers). Expect some more Federal fines and consumer lawsuits before this is all over.

PLUS... The State of California is looking at them too. California has the strictest Emissions Control laws on the books in the USA, WAY tougher than the Federal laws. California is likely going to chew on VW as well.

Then there is the cost of the recalls...

VW might have just screwed the pooch in doing business in the USA.

The green game ...
http://www.nytimes.com/2015/09/19/business/volkswagen-is-ordered-to-recall-nearly-500000-vehicles-over-emissions-software.html
it is all a matter of greed and deception.

$18b...that is the end of an Empire! ;)

They took in $240.1b last fiscal year, so it would be just a haircut.

Yes, but that US$240.1 Billion (€202.5 Billion) was not profit.
It was sales revenue.

After-tax profit was about €11.1 Billion in 2014 and €9.1 Billion in 2013.


http://annualreport2014.volkswagenag.com/consolidated-financial-statements/income-statement.html

11.1 + 9.1 = 20.2

€20.2 Billion, at current exchange rates is about US$22.8 Billion.

A US$18 Billion fine would wipe out most of VW's profit over the last TWO years.

And it is possible that it is just the tip of the iceberg.

482,000 vehicles... US$37,500 fine PER VEHICLE... US$18.075 Billion

And That is just the US Federal Fine for violating ONE law. Its almost a certainty that VW broke other Federal Laws by selling those model cars in the USA with the software 'defeat device' installed to fake emissions testing (without telling the consumer -- ahh, the smell of fraud in the morning... smells like billable hours for a bunch of lawyers). Expect some more Federal fines and consumer lawsuits before this is all over.

PLUS... The State of California is looking at them too. California has the strictest Emissions Control laws on the books in the USA, WAY tougher than the Federal laws. California is likely going to chew on VW as well.

Then there is the cost of the recalls...

VW might have just screwed the pooch in doing business in the USA.

A couple years profit is just a haircut. For you on me it might be a bit more traumatic, but we can't issue corporate paper at the presently ridiculously low interest rates and make payments over 30-50 years. VW is only off about $7/share, so the market realizes this isn't going to end in bankruptcy.

I can see the class action coming. The real question though is did the consumer have an injury? If the software made the car have better performance and gas mileage there may not be much of a case there. Might get settled for a bunch of cash to the lawyers and a donation to some charity, at most a free oil change or a tank of fuel.

As to California, as I suspect they are the ones who found this, I think they are going along with the feds on the monetary fines. But if they uncover documents I would not be surprised to see criminal proceedings against individuals.

It is just possible to have been innocent error. I can see where VW would need an engineering program for the car where it goes into a bypass mode. I can see some dolt sending the wrong executable file to a sub-contractor to build parts or a dolt at a subcontractor burning the wrong file into ROM. But if there are documents indicating they have to get better performance by using bypass software, then executives will be at the grey bar motel.

The above will have a huge impact on the fine the government collects. If intentional they are unlikely to mitigate the fine. If a true error they will suggest mitigation and the fine will be nothing.

---

The green game ...
http://www.nytimes.com/2015/09/19/business/volkswagen-is-ordered-to-recall-nearly-500000-vehicles-over-emissions-software.html
it is all a matter of greed and deception.

$18b...that is the end of an Empire! ;)

They took in $240.1b last fiscal year, so it would be just a haircut.

Yes, but that US$240.1 Billion (€202.5 Billion) was not profit.
It was sales revenue.

After-tax profit was about €11.1 Billion in 2014 and €9.1 Billion in 2013.


http://annualreport2014.volkswagenag.com/consolidated-financial-statements/income-statement.html

11.1 + 9.1 = 20.2

€20.2 Billion, at current exchange rates is about US$22.8 Billion.

A US$18 Billion fine would wipe out most of VW's profit over the last TWO years.

And it is possible that it is just the tip of the iceberg.

482,000 vehicles... US$37,500 fine PER VEHICLE... US$18.075 Billion

And That is just the US Federal Fine for violating ONE law. Its almost a certainty that VW broke other Federal Laws by selling those model cars in the USA with the software 'defeat device' installed to fake emissions testing (without telling the consumer -- ahh, the smell of fraud in the morning... smells like billable hours for a bunch of lawyers). Expect some more Federal fines and consumer lawsuits before this is all over.

PLUS... The State of California is looking at them too. California has the strictest Emissions Control laws on the books in the USA, WAY tougher than the Federal laws. California is likely going to chew on VW as well.

Then there is the cost of the recalls...

VW might have just screwed the pooch in doing business in the USA.

guys, u forget that USA is part of Commonwealth...so any ruling there is also a good 1 for the Canada, Australia, JAR & also UK...

& UK is in EU...so EU fine would also be a probability!
;)

---

non-profit org. Play4Life in Zagreb, Croatia, EU

Automotive history in Stockholm County. The first hydrogen filling station was opened solemnly in Arlanda Airport.

AGA boss Bo Dyrvold says that there are about 250 hydrogen filling stations in the world today. As he inaugurated the first commercial refueling station in Sweden he compared it with that it was like watching a child get up and take their first faltering steps.

The construction cost is according to Bo Dyrvold about 1 million euros. The new gas station can fill up the 180 cars per day. The hydrogen is made from wind power. In terms of money it will cost slightly less than running on diesel.

guys, u forget that USA is part of Commonwealth...so any ruling there is also a good 1 for the Canada, Australia, JAR & also UK...

& UK is in EU...so EU fine would also be a probability!
;)

Huh????

If you mean the 'Commonwealth of Nations', no we are not.

We fought a war (1775 to 1783) that says we are not.

Yes, we do have a number of Treaties of various sorts (trade, mutual defense, etc.) with the UK.

But, members of the Commonwealth? Nope.

Commonwealth still lives as a with special Trade agreements, etc...

I know about past...every other country has a sovereignty...but those agreements gave all of you so much more market than any other Union...
Only China has more people, but not more "pay-grade" for trade!

---

non-profit org. Play4Life in Zagreb, Croatia, EU

Commonwealth still lives as a with special Trade agreements, etc...

Commonwealth?

The Commonwealth's objectives were first outlined in the 1971 Singapore Declaration, which committed the Commonwealth to the institution of world peace; promotion of representative democracy and individual liberty; the pursuit of equality and opposition to racism; the fight against poverty, ignorance, and disease; and free trade.

But free trade...
Free trade is exemplified by the European Economic Area and the North American Free Trade Agreement, which have established open markets.

VW might have just screwed the pooch in doing business in the USA.

Looks like VW has done a bit more than my above statement. It has gone worldwide now.

Up from about half a million vehicles in the USA to 11 million vehicles worldwide.


http://www.nytimes.com/2015/09/23/business/international/volkswagen-diesel-car-scandal.html

A scandal that has undermined Volkswagen in the United States spread to its core market of Europe on Tuesday, after the company said that 11 million of its diesel cars worldwide were equipped with software that was used to cheat on emissions tests.

Heh. Heh. Heh...

Did you know that more than 70% of Americans — including more than 80% of voters under 35, and more than 50% of Republican voters — want Congress to act on climate?
Yet a majority of our representatives in Congress either deny climate change is real or block every attempt to solve the climate crisis. In a democracy, how could this be possible? It's simple: Money.

http://www.edfaction.org/

VW might have just screwed the pooch in doing business in the USA.

Looks like VW has done a bit more than my above statement. It has gone worldwide now.

Up from about half a million vehicles in the USA to 11 million vehicles worldwide.


http://www.nytimes.com/2015/09/23/business/international/volkswagen-diesel-car-scandal.html

A scandal that has undermined Volkswagen in the United States spread to its core market of Europe on Tuesday, after the company said that 11 million of its diesel cars worldwide were equipped with software that was used to cheat on emissions tests.

Heh. Heh. Heh...

Yes and the CEO quit. Their denials sound very much like they knew it was going on. I strongly suspect the next to highest levels of management knew of and approved of this. The question will be if they can find documentation. If they do WV has ceased to exist. Remember corporations are persons now, and persons go to jail.

---

Remember corporations are persons now, and persons go to jail.

Not true.
https://translate.google.com/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=https%3A%2F%2Fsv.wikipedia.org%2Fwiki%2FJuridisk_person&edit-text=

Legal person is a legal concept of an association, which has its own legal capacity, ie can acquire rights and assume obligations. A legal person may enter into agreements, own assets and incur liabilities. The entity also owns the status of parties in court.

It is typical of a legal person is that, just as a natural person may acquire and own assets, incur and be liable for the debts and be the plaintiff or defendant in the lawsuit. A legal person can protect its owner from personal liability. This protection is not absolute. It may be possible to pierce the corporate veil Justice ("piercing the corporate veil").

Each state has its own rules for legal entities. Generally accepted those legal entities in other states provided that they have legal personality in the State where they are established.

I think it was the US that implemented it first that corporations are treated as same as a person.
The persons in a corporation cannot be indicted because they have not an intent to do a felony...

Did you know that more than 70% of Americans — including more than 80% of voters under 35, and more than 50% of Republican voters — want Congress to act on climate?
Yet a majority of our representatives in Congress either deny climate change is real or block every attempt to solve the climate crisis. In a democracy, how could this be possible? It's simple: Money.

http://www.edfaction.org/

Hopefully, we can overcome the worst of the pollution money and corruption soon enough to really be "soon enough" and before the doom sayers can bray "too late!":


Pope Francis urges action on climate change on visit to US

Pope Francis has called for further action on climate change saying that it was "a critical moment of history", on the first day of his visit to the US.

Speaking to a crowd of more than 11,000 people on the White House South Lawn, the pontiff said the problem could "no longer be left to a future generation"...


And then the politics and corrupted media take a spin...

All on our only one planet,
Martin

---

See new freedom: Mageia Linux
Take a look for yourself: Linux Format
The Future is what We all make IT (GPLv3)

Remember corporations are persons now, and persons go to jail

Gary, I'll believe that when the state of Texas executes a corporation or at least puts one in jail.

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Remember corporations are persons now, and persons go to jail

Gary, I'll believe that when the state of Texas executes a corporation or at least puts one in jail.

I hope some judge somewhere does. Could be an interesting trick to see how he puts one in jail. It would be a very quick end to Citizens United.

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Remember corporations are persons now, and persons go to jail

Gary, I'll believe that when the state of Texas executes a corporation or at least puts one in jail.

Ever hear of the 'corporate death penalty'??? Corporate charter gets revoked. Corporation ceases to exist. Extremely ultra very very rare, but it has happened.

Look for it to happen more often in the future, especially in California, as they have an explicit law on the books giving the California AG the authority to ask for it to be done for corporate misdeeds.

I don't know if it has ever happened in Texas, but it HAS happened.

VW might have just screwed the pooch in doing business in the USA.

Looks like VW has done a bit more than my above statement. It has gone worldwide now.

Up from about half a million vehicles in the USA to 11 million vehicles worldwide.


http://www.nytimes.com/2015/09/23/business/international/volkswagen-diesel-car-scandal.html

A scandal that has undermined Volkswagen in the United States spread to its core market of Europe on Tuesday, after the company said that 11 million of its diesel cars worldwide were equipped with software that was used to cheat on emissions tests.

Heh. Heh. Heh...

That's probably d End of VW as we know it...only 1 thing can & will pull them through!
;)

---

non-profit org. Play4Life in Zagreb, Croatia, EU

Another case of misguided government intervention. And worrying about the wrong thing. Look at all of the windmills--which one should we have a good tilt at ? Let us attack the real cause of NOx--let's all stop eating !!



It's too late now to get a fuel efficient car from Volkswagen. They have stopped selling diesels.

For our conspiracy theorists they might attribute the leak of this scheme to "Big Oil" so that more crude would be needed world-wide. We can't continue to see the demand for crude drop by the appearance of family sedans getting over 50 miles per gallon (that's about 20 kilometers per liter for users of the communist metric system).

Much of "Other" is waste-water treatment plants. It's like I said before we need to get ourselves and our farm animals to defecate little wrapped candies !!

Another good rant by Daddio !!

we need to get ourselves and our farm animals to defecate little wrapped candies !!

Or rather, we need to get Big Agribusiness to stop their unnecessary pollution of our fields, food, water courses, coastal areas from the excessively polluted runoff, and for the rest of the environmental pollution caused...


Farming practices can change to be less polluting and still be profitable and become more healthy all round. The only ones to lose our will be the Big Agribusiness...



All very corrupt and all at our expense...

All on our only one planet,
Martin


ps: Good diagram, thanks.

---

See new freedom: Mageia Linux
Take a look for yourself: Linux Format
The Future is what We all make IT (GPLv3)

Another case of misguided government intervention. And worrying about the wrong thing. Look at all of the windmills--which one should we have a good tilt at ? Let us attack the real cause of NOx--let's all stop eating !!
For our conspiracy theorists they might attribute the leak of this scheme to "Big Oil" so that more crude would be needed world-wide. We can't continue to see the demand for crude drop by the appearance of family sedans getting over 50 miles per gallon (that's about 20 kilometers per liter for users of the communist metric system).
Much of "Other" is waste-water treatment plants. It's like I said before we need to get ourselves and our farm animals to defecate little wrapped candies !!

Agriculture create a LOT of CO2!
And we waste 25% of all food produced in the world!
https://www.youtube.com/watch?v=bV0-oLF8zOI