That cliff edge feeling.....
Yes, that's Volkswagen's share price. I was amused by the UBS advert. And just to rub salt in the wound, here is Carole King:
Anyway, Volkswagen is in deep, deep brown stuff. Here are links to my posts so far on this. I will add more as I write them.
1. The Car Manufacturers' Libor Scandal. Rigging emission tests will prove extremely expensive for Volkswagen. But I doubt if VW is the only vehicle manufacturer guilty of nefarious practices. I reckon it's an industry-wide disease not unlike the benchmark rate rigging scandals in banking.
2. Volkswagen's CEO has resigned, but that doesn't solve its problems. Volkswagen is too big too manage. Actually most global corporations are. And their CEOs are far too keen on avoiding blame. Not many do the decent thing and resign promptly, as VW's Winterkorn did. But was he told to by the Executive Committee?