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i didn't say they would, i was responding to TEXASMAJOR's 'RIP VW'.
It will hurt them for sure, but VW has over 40 billion in cash right now.
you've only posted that number about 10 times but anyway, it's not that simple. they need huge amounts of cash (like needing $10 billion at all times) just to 'keep going' to buy supplies, parts, and operating money.
they also have TONS of debt obligations and with this new 'problem' their borrowing costs could jump up dramatically which will eat away at their cash quickly.
a modern huge corporation is a very complex financial machine, not a piggy bank.
The way things are in Germany today, though, it may boil down to where the money goes.........VW or the refugees.
VW is to Germans far more than an auto manufacturer, it is part of their postwar culture and it will take something like a replacement of the German ownership to kill the brand.
Then of course German companies like Krauss-Maffei, Krupp etc survived a devastating war, so one can come to the conclusion that German companies do not resort under the description: 'fly by night two bit setups'.
What does raise eyebrows is why would a company like VW resort to lying to get more sales? Very unlike the Germans to sell on the gippo ticket. Business etiquette in Germany always was: No cheap prices, but the customer must be given value and quality.
remember 'too big to fail' in banking? i believe that will happen here too, in that the german govt will not let vw go down.
Agreed, And, let me add, the Western World won't let VW, with 250,000 direct employees and a huge number of indirect employees, go under. Not with the world economy where it is. However, there will be severe penalties, possibly even jail time for someone. I think you'd agree with that.
The VW Diesel Scandal Is Now a DIY Halloween Costume
Celebrate Halloween in style this year with a timely costume by embracing the Volkswagen diesel scandal.
The folks over at HalloweenCostumes.com has put together a do-it-yourself guide to put together your very own Volkswagen diesel scandal costume in case there’s nothing else you want to be this Halloween. You’ll need to grab yourself a deluxe smoke mask, a video game car costume, adult black combat boots, spider web decor, fake money, toilet paper tube, box, can, gas can and black spray paint. The most difficult part to this DIY costume is building the emissions smoke cloud and the exhaust pipe, but that’s where the spider web comes in.
By bundling the spider web, you’ll be able to make it nice and fluffy and a bit of fishing line can even be used to help tie it all together. Spray down the spider web with the black spray paint and clog it into your toilet paper tube before fitting it onto your car costume.
It’s unlikely you’ll see any kids sporting the costume this year, but if you did, it’s very likely their parents aren’t too happy about the Volkswagen diesel scandal.
Although not illegal, IMO, selling nonsense like that to make a profit is almost as silly as what VW did in the first place. Some people will try and cash in on just about anything.
Although not illegal, IMO, selling nonsense like that to make a profit is almost as silly as what VW did in the first place. Some people will try and cash in on just about anything.
The VW Bug was unashamedly a copy of the Czech TATRA 570 and their silence on this is deafening, maybe sins like that have a way of riding you.
But on the other hand your sins can save you, they cough up billions in compensation for having used slave labour in WWii, so nobody will let them go under.
i didn't say they would, i was responding to TEXASMAJOR's 'RIP VW'.
you've only posted that number about 10 times but anyway, it's not that simple. they need huge amounts of cash (like needing $10 billion at all times) just to 'keep going' to buy supplies, parts, and operating money.
they also have TONS of debt obligations and with this new 'problem' their borrowing costs could jump up dramatically which will eat away at their cash quickly.
a modern huge corporation is a very complex financial machine, not a piggy bank.
What you wrote could be true only if VW posts operating loss after this (excluding cost of fixing this) - which I very much doubt, so far their sales are not being influenced heavily by this.
They made $12 billion in profit last, and this year they are probably adding anther $10 billion to their piggy bank.
Unless their sales completely collapse, they wont be affected that heavily. And their sales are steady, as we have seen so far. Even in the USA, which is by far the most affected market with stop sales (unlike Europe/Asia/S.America), their sales went up in September.
So yes, they might lose 20-30 billion, but they will still post operating profit this years (again, without these costs included) so they will be fine.
"This was not a corporate decision. There was no board meeting that approved this," Horn said.
Probably the only way to find out for sure is if the official transcript of the meeting was actually recorded. My guess is that the committee will supoena the transcripts....if they exist.
Probably the only way to find out for sure is if the official transcript of the meeting was actually recorded. My guess is that the committee will supoena the transcripts....if they exist.
Yup, There was a police raid today at VW headquarters to secure records. I guess they don't want any accidents where the documents get shredded (or tapes get erased).
Yup, There was a police raid today at VW headquarters to secure records. I guess they don't want any accidents where the documents get shredded (or tapes get erased).
I know in the USA that it is illegal to shred documents/delete hardrives, servers, etc when your company is under investigation/subpeanoed. There was a lot of those types of shennanigans going on when the feds started investigating Enron, the law was significantly tightened after that mess. Much easier to convict somebody on an obstruction of justice charge so I have read, in practice, I have my doubts since the feds never like to prosecute systemic white collar fraud.
10-03-15, 09:22 PM
but anyway, it's not that simple. they need huge amounts of cash (like needing $10 billion at all times) just to 'keep going' to buy supplies, parts, and operating money.
