Jack Ewing

A shocking exposé of Volkswagen’s fraud
Unable to build cars that could meet emissions standards they only to have the lie exposed by a handful of researchers on a shoestring budget, If you look at the banking scandals, it was usually people who were trying to get big bonuses to make money that could trying to defend market share and meet the expectations top management hard on set for employees, normally corporate scandals stem one unrealistic targets metod with draconian consequences that chronicles a corporate scandal that rivals those at Enron and Lehman Brothers one that will cost Volkswagen more than $22 billion in damage as CO2g emissions and how the fraud was committed, with sistematic covered up of the Press, and finally detected with rips of the scandal.… (mehr)

In this still on-going tale of corporate malfeasance one keeps returning to the introverted and authoritarian corporate culture of Volkswagen, in that the ultimate issue is that warnings were already in place that the firm would be hammered if their new range of diesel-powered cars did not meet the environmental standards required but the firm still convinced itself that it could flaunt those rules in pursuit of its growth agenda. There is little reason to believe that chief executive Martin Winterkorn and, ultimately, his mentor Ferdinand Piech did not demand that Volkswagen's engineers use every means possible to advance their vision. The question is what will eventually happen to the corporate governance of Volkswagen and whether the Porsche & Piech clans will retain their current level of power; they've certainly done enough to deserve losing their control.… (mehr)

Basically a company history framed by the emissions cheating scandal. As one of Germany’s preeminent manufacturers, Volkswagen enjoyed official support (indeed, mandatory government involvement in governance through voting power, until that was ruled to interfere with the operation of the Common Market) and didn’t have too much in the way of internal controls to stop demands for greater performance from overriding regulatory barriers. It’s a classic story: boy works at family company, boy gets in charge of family company, boy terrorizes subordinates until they decide that keeping him happy is more important than obeying the law.… (mehr)