VW’s Diesel Shenanigans: Bigger headaches yet to come

Winterkorn BJ3- Picture courtesy Bertel Schmitt

Volkswagen may have to pay an $18 billion fine for its emissions shenanigans, and a good chunk of the hypothetical punishment was already exerted. This morning, the Volkswagen share was down 22 percent, Volkswagen’s shareholders received a $14 billion haircut. The matter raises a few questions, like, what took the EPA so long? And, is this just the prelude to a nuclear meltdown of a few large EU car makers? And, of course: “Is Piech behind all that?” [Continue Reading]