Why did it create such a large gap between Volkswagen's common and preference stocks? (VOW and VOW3) Before the scandal, the difference was non-existent. Now, the difference is more than 20%.. Why?
According to 'Frankfurter Allgemeine Zeitung', this could either be a short squeeze or an indication that the families Porsche and Piech expand their influence by buying more shares after the recent drop. http://www.faz.net/aktuell/finanzen/aktien/stammaktien-von-volkswagen-auf-hoehenflug-13847953.html
Right. Blame it all on a couple of "nameless rogue engineers"... sort of like blaming the Patriots "deflate scandal" on a couple of ball boys... who acted without Brady's or Kraft's permission/knowledge. DUH! Just how stupid* do people think we are?? *Rhetorical question, I know. After all, the ignorant populace elected Odumbo twice.
Daimler seeking U.S. lawyers for executives in diesel probe: Report Daimler AG is conducting a search for U.S. criminal defense lawyers to represent company executives who may be swept up in the Justice Department’s investigation of possible diesel-emissions cheating, people familiar with the matter told Bloomberg. The outreach suggests prosecutors have identified people at the company they plan to interview, said two people, who spoke on the condition of anonymity. (Automotive News)
VW Charge Former Volkswagen CEO Martin Winterkorn has been charged with fraud in the U.S. over his role in the automaker's rigging of software to make diesel emissions seem cleaner. Specifically, he was charged with wire fraud and conspiracy to defraud VW's U.S. customers and violate the country's Clean Air Act. This is the ninth charge in the case—two people are already behind bars. Fortune
VW Problems Volkswagen is planning "closure days" at its main German factory in order to stop a build-up of vehicles, thanks to the rigorousness of new emissions tests. The EU is introducing stricter new standards in September, and VW says it doesn't have enough testing equipment to cope. On a related note, a new kind of emissions test, on which it is hard to cheat, shows that pretty much all diesel cars produced since the Dieselgate scandal exceed the EU's current limits. BBC
VW rewrites rules in new European retail agreement, allows more revenue-sharing A rewrite of Volkswagen's agreement with its European dealer network alters the way VW brand retailers earn revenue and interact with customers and the factory. (Automotive News)