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VW internal investigation finds 'no evidence' against suspended engineers

Volkswagen is still working out the chain of events that led to emissions-evading software being installed in 11 million diesel vehicles worldwide and deciding who was responsible for the treachery. So far, the German automotive giant's internal investigation hasn't publicly named many suspects, and three suspended executive-level engineers have been found not to be culpable in the wrongdoing, according to an anonymous insider speaking to Reuters. VW knows that the software began being installed in the EA 189 engine in 2008. The internal investigation has found that the emissions-evading tech was created because the powerplant was found to fail US standards. Plus, the diesel mill wasn't meeting cost targets, according to Reuters. The automaker responded by suspending over 10 employees, but three top engineers among them might not have been involved. Those put on leave include Heinz-Jakob Neusser from VW, Ulrich Hackenberg from Audi, and Wolfgang Hatz who led Porsche's research and group-wide engine development. The internal detective work hasn't turned up any evidence against these three men. In addition to VW's own inquires, government investigators in both the US and Germany are taking a serious look into the company's actions, too. So far, the automaker is setting aside about $7.3 billion to pay to fix the vehicles with the evasive software. Depending on what authorities find, the costs could grow quickly. Beyond the financial implications, the scandal has led to a serious shakeup in VW's corporate structure. Related Video:

Leno steals Porsche 918 from The Quail for latest Garage episode

Just because he's a famous celebrity doesn't mean Jay Leno got to take it easy at the Pebble Beach Concours d'Elegance earlier this month. Having already spent some time with the gorgeous Cadillac Elmiraj Concept and Ed Welburn for a recent episode of Jay Leno's Garage, the late night talk show host also got to put a few miles on a prototype version of the Porsche 918 Spyder.
Like a usual episode of JLG, Leno first goes over the details of the car with Frank Walliser, head of the 918 Spyder's development, before taking it out for spin. Check out the full episode, which is posted below, to hear what Walliser has to say about the car. More importantly, though, crank up your computer's volume and let the car's high-revving engine and amazing exhaust note do plenty of talking for itself.

Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.