Quote:
Originally Posted by Sly
CEO has "stepped down."
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Yep. While he admits no wrongdoing on his part personally, he knows full well that the actions by the company under his watch were egregiously wrong. A lot of people bought those cars under the provision that they were environmentally friendly... like the advertising said they were.
I'm sure 11 Million cars pumping out 40x's the advertised/allowable emissions over the course of 10 years wouldn't hurt a fly.
(plus the millions more they would have sold during that time had they not gotten caught)
In related news; VW's stock, having dropped nearly 40% over the past week, rose 7% today, which affirms what I said in my earlier post about the market overreacting.
Yes, this is a *big deal*, they are going to feel this both financially and image-wise for a long time to come.... and car buyers tend to have long memories, especially when the car they just bought was rendered near-worthless by the scumbaggery of the giant automaker.
But they'll recover eventually.