Sunday, April 24, 2016

Who did it?

The latest news about the Volkswagen emissions violations is that the German carmaker will take a $18.2 billion charge against its 2015 financial accounts to cover payments to aggrieved Volkswagen owners. That’s BILLION--$18,200,000,000.

The company will post a 2015 loss of about $6 billion.

You know this story: unscrupulous lawbreakers on the Volkswagen payroll deliberately rigged their diesel cars to conform with emissions requirements while the tests were being conducted, and then run fast and dirty when they were on the road.

The disgraced CEO of Volkswagen, Martin Winterkorn, stepped down last year. There was talk that he would get a severance package of almost $70 million.

Millions and billions worth of wrongdoing here. VW owners got the short end of the stick, and VW shareholders are paying for it.

I did a sincere internet search, and I couldn’t find any story about any other Volkswagen employee who has been fired or prosecuted or sent to jail.

There are quite a few people who did wrong stuff here—are any of them going to be held responsible?

Copyright © Richard Carl Subber 2016 All rights reserved.

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