Author Topic: F.B.I. Arrests Volkswagen Executive on Conspiracy Charges in Emissions Scandal  (Read 334 times)

0 Members and 1 Guest are viewing this topic.

Online mountaineer

  • Member
  • Hero Member
  • ****
  • Posts: 36,525
A day without sunshine is like, you know, night.

Online mountaineer

  • Member
  • Hero Member
  • ****
  • Posts: 36,525

Business News | Wed Jan 11, 2017 | 9:44am EST
Latest Volkswagen bill for emissions scandal unlikely to top 20 billion euros: source
By Andreas Cremer | BERLIN

A settlement with the U.S. authorities over emissions test cheating will push up the cost for Volkswagen (VOWG_p.DE), but the bill is likely to remain below 20 billion euros ($21 billion), a source familiar with the matter said on Wednesday.

Europe's biggest carmaker has said it is in advanced talks with the Justice Department over a $4.3 billion settlement, adding that meant it would exceed current provisions set aside to cover the costs of the scandal.

Volkswagen (VW) has already announced 18.2 billion euros ($19.1 billion) of provisions to cover the costs of "Dieselgate," of which 16.2 billion euros were booked in 2015.

"We are counting on a sum of 16 billion plus X. The X is likely to be in the 2 to 4 billion range," the source said, speaking on condition of anonymity.

VW declined to comment.

The German company's supervisory board was meeting on Wednesday to approve the draft deal with the Justice Department, which would be a major milestone in its attempts to recover from the biggest business scandal in its 80-year history. ...

Rest of story at Reuters.
A day without sunshine is like, you know, night.

Wingnut

  • Guest
The FBI can arrest a lying cheating polluter but can't find enough cause to arrest a lying cheating former POS of a SoS. Who knew.

Online driftdiver

  • Hero Member
  • ****
  • Posts: 5,682
  • Christ is King
Fools mock, tongues wag, babies cry and goats bleat.

Offline uglybiker

  • Hero Member
  • ****
  • Posts: 1,053
Trump/Pence none the richer

Offline truth_seeker

  • Hero Member
  • ****
  • Posts: 19,422
  • Common Sense Results Oriented Conservative Veteran
    • The place where argument addicts can go
My son, who understands such things, thinks its simply a matter of engine tuning.  You can tune for power, fuel economy, or emissions.   I'd trust VW folks far far more than I'd trust government officials especially EPA or someone from California Air Resources.
They cheated the system, no matter if you want pollution controlled or not.

I know something about this, because I purchased one just 11 days before the scandal was announced, 16 months ago.

Your son is correct as far as technology goes. Students in West Virginia broke the cheat.

BMW and Mercedes sell comparable diesel vehicles, which meet the standards without cheating. VW cheated.
"God must love the common man, he made so many of them.�  Abe Lincoln


Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf