VW slumps to first quarterly loss in at least 15 years • Hacker News Board

Re: VW slumps to first quarterly loss in at least 15 years

#21

Post by gregwtmtno » Wed, Oct 28, 2015, 3:12 PM UTC

nilkn wrote: post #15

gruez wrote: post #14

Earlier quoted context omitted.

>The CEO has already been fired ...with a 67M severance package https://www.washingtonpost.com/news/on-leadership/wp/2015/09...

Half of that is a pension already earned, not severance, and the other half is a theoretical calculation from the article based on the maximum severance he could receive.

Earned? Accrued maybe, but I don't think earned is the appropriate word.

Re: VW slumps to first quarterly loss in at least 15 years

#22

Post by ams6110 » Wed, Oct 28, 2015, 3:13 PM UTC

choudanu4 wrote: post #7

Igglyboo wrote: post #6

Earlier quoted context omitted.

I don't think the government can say "you were lied to about your car, stop using it" also VW can't force people to get the recall, why would you want to get a recall that worsens the performance of you car.

Couldn't they force the hardware/software modifications when people go in for yearly inspections?

Not all states have inspections.

Re: VW slumps to first quarterly loss in at least 15 years

#23

Post by softyeti » Wed, Oct 28, 2015, 3:14 PM UTC

I wonder if we are going to discover similar emissions skirting in over manufacturer's vehicles soon.

Re: VW slumps to first quarterly loss in at least 15 years

#24

Post by _yy » Wed, Oct 28, 2015, 3:15 PM UTC

General Motors - which knew about their broken ignition switches for over a decade - got away with a 900$m fine. That defect killed at least 124 people.

Re: VW slumps to first quarterly loss in at least 15 years

#25

Post by mc32 » Wed, Oct 28, 2015, 3:15 PM UTC

I'm surprised that in the US their sales didn't take nosedive, I take that to indicate their customer base has a very enthusiastic and fundamental core... Which is good for them. If this does not shake their confidence, then nothing will, and if this is the case worldwide, VW will survive this scandal largely unscathed, relative to the size of this scandal. For a while it seemed like their viability was very much in question, now it seems beside some large write downs and some lean years, they will survive.

Re: VW slumps to first quarterly loss in at least 15 years

#26

Post by mikestew » Wed, Oct 28, 2015, 3:16 PM UTC

mtgx wrote: post #16

gruez wrote: post #14

Earlier quoted context omitted.

>The CEO has already been fired ...with a 67M severance package https://www.washingtonpost.com/news/on-leadership/wp/2015/09...

He wasn't fired, so he shouldn't be getting a "severance package". He resigned. He shouldn't be getting anything for the tens of billions of dollars in damage caused to the company. I wish CEOs stopped being rewarded for screwing up. What's worse is that VW is still pushing the narrative that only two engineers are at fault here, and it refuses to blame the CEO, even though it keeps finding millions and millions of o…

I wish CEOs stopped being rewarded for screwing up.

CEOs typically aren't rewarded for screwing up, they get rewarded for signing up. Any severance package is most likely negotiated before they they take the job so as to get them to show up in the first place.

Now why it's that way is a different discussion. Want me as CEO of GroupOn or Yahoo? Damned straight you're giving me a severance package whether I screw up or not, otherwise I'm taking a less risky job. But CEO of VW? WTH does the company need to offer a severance package for that gig?

Re: VW slumps to first quarterly loss in at least 15 years

#27

Post by forgetsusername » Wed, Oct 28, 2015, 3:17 PM UTC

mtgx wrote: post #16

gruez wrote: post #14

Earlier quoted context omitted.

>The CEO has already been fired ...with a 67M severance package https://www.washingtonpost.com/news/on-leadership/wp/2015/09...

He wasn't fired, so he shouldn't be getting a "severance package". He resigned. He shouldn't be getting anything for the tens of billions of dollars in damage caused to the company. I wish CEOs stopped being rewarded for screwing up. What's worse is that VW is still pushing the narrative that only two engineers are at fault here, and it refuses to blame the CEO, even though it keeps finding millions and millions of o…

>I wish CEOs stopped being rewarded for screwing up.

They're honouring his contract, not "rewarding" him.

>and it refuses to blame the CEO

How much "blame" can the guy take? VW is huge. It's unlikely he knew about the issue, and even more unlikely that he was "in" on it. Is he responsible, as CEO, for the issue? Yes. Hence, he resigned.

Re: VW slumps to first quarterly loss in at least 15 years

#28

Post by JoeAltmaier » Wed, Oct 28, 2015, 3:17 PM UTC

mikestew wrote: post #26

mtgx wrote: post #16

Earlier quoted context omitted.

He wasn't fired, so he shouldn't be getting a "severance package". He resigned. He shouldn't be getting anything for the tens of billions of dollars in damage caused to the company. I wish CEOs stopped being rewarded for screwing up. What's worse is that VW is still pushing the narrative that only two engineers are at fault here, and it refuses to blame the CEO, even though it keeps finding millions and millions of o…

I wish CEOs stopped being rewarded for screwing up. CEOs typically aren't rewarded for screwing up, they get rewarded for signing up. Any severance package is most likely negotiated before they they take the job so as to get them to show up in the first place. Now why it's that way is a different discussion. Want me as CEO of GroupOn or Yahoo? Damned straight you're giving me a severance package whether I screw up or…

The rule is: the guys who can sign checks, all sign them for each other. No other logic need be applied.

Re: VW slumps to first quarterly loss in at least 15 years

#29

Post by brational » Wed, Oct 28, 2015, 3:21 PM UTC

marvel_boy wrote: post #2

VW cars exceed legal emissions 40 times. There is a reason for no preventing to use this cars?

Most older cars and plenty of current SUVs/trucks still put off worse emissions. Should they be banned from use as well?

Re: VW slumps to first quarterly loss in at least 15 years

#30

Post by TheCapn » Wed, Oct 28, 2015, 3:26 PM UTC

mc32 wrote: post #25

I'm surprised that in the US their sales didn't take nosedive, I take that to indicate their customer base has a very enthusiastic and fundamental core... Which is good for them. If this does not shake their confidence, then nothing will, and if this is the case worldwide, VW will survive this scandal largely unscathed, relative to the size of this scandal. For a while it seemed like their viability was very much in…

Generally speaking I haven't seen a whole lot of stress about the situation from the VW owner clubs I'm part of. The common mentality is that VW had to cheat the rules by a 3rd party in order to deliver the quality of vehicles they've grown to love and they don't necessarily blame VW for that, they blame the regulations.

Personally I'm a bit skeptical that my next vehicle will be VW. I'm sure I'll give them a test but they won't be as favored to me as they could be simply because there's doubt of honesty in my mind now. Have they pulled some scam on my car that's yet to be caught? Is everything I've been promised on the brochure guaranteed or did they skirt some other regulation or standard?