1969 Volkswagen Bug In Very Nice Condition With *original Black Plates* on 2040-cars

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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

VW uses NorCal Forest to make e-Golf carbon neutral

On the one hand, it's just a forest. There are beautiful redwood trees and clean air, cool, quiet creeks and hidden wildlife. You know, a forest. The kind that have existed for millions of years. On the other, it's a carefully managed collection of natural resources that lets companies pay money to make their products more beneficial to the environment. Welcome to the Garcia River Forest. For our purposes, the Garcia River Forest is interesting because of its connection to Volkswagen. Its young redwoods are helping Volkswagen create something almost unheard of in the automotive industry: a (mostly) carbon-neutral car. The 10,000-foot overview of how this works is as follows: when you buy the electric car, part of your money goes to support three carbon offset projects. These projects (the one in the Garcia River Forest, the Big River And Salmon Creek Forests in California, and the McKinney Landfill in Texas) have put a price on the value of not letting more carbon get into our atmosphere. The calculations come in the form of credits per metric ton of CO2 and VW has paid enough money to cover the emissions it generates during the production and distribution of the e-Golf as well as the charging for around 36,000 miles of driving. VW worked with 3Degrees, a provider of carbon offset services, to calculate the amount of greenhouse gas (GHG) emissions that each e-Golf will be responsible for, from the factory to the driveway. The Garcia River Forest location is managed by The Conservation Fund (TCF). VW originally announced the carbon-neutral program back when it revealed US details for the e-Golf, in August 2013. Stuart Gardner, project manager at VW of America for the Golf family, told AutoblogGreen that the idea for the carbon offset came from the way VW understands plug-in vehicle buyers. "At Volkswagen, we strive to be leaders in e-mobility and developing alternative powertrains and we realize that, when someone buys an electric vehicle - the e-Golf, for example - they are doing more than just buying an electric vehicle," he said. "They are buying a lifestyle and they want to engage in this lifestyle." VW is not releasing the specific amount of the purchase price of each e-Golf that is directed to the Garcia River Forest (or any other carbon offset projects).

VW Diesel Scandal Wrap-up: Time for bullet points

Here we go again. If you were not pegged to your RSS reader yesterday, scoping out all of the VW diesel scandal news, here's a brief rundown of what happened: Just how much extra pollution did VW's little problem cause in the US? New estimates suggest it's as bad as having an additional 19 million cars on the road, or "12,000 additional tons of nitrogen oxide pollutants per year." NOx can create smog and acid rain. The diesel scandal is also reshaping some online ads. Sponsored content in WIRED that talked about clean diesel has been taken down. The advertisement was a partnership between Volkswagen and the Wired Brand Lab and claimed to have, "created an experience that will inform, educate, surprise, and change the way you think about diesel." Canada says it might start up its own governmental investigation and that "enforcement action will be taken," if the automaker is found to have broken the law. The German government says it did not know about VW's subterfuge until recently, and is going to start a fact-finding process this week. It turns out that the first hints of this scandal were discovered by independent researchers in 2012 and 2013. Whatever happened, Renault-Nissan CEO Carlos Ghosn said that it's hard to hide something like this. Following CEO Martin Winterkorn's departure yesterday, speculation is running rampant to see who will replace him. Automotive News says it should be current Porsche CEO Matthias Mueller. Don't feel too bad for Winterkorn, though, as he's still likely to get his $32 million pension, Bloomberg says. Oh, and this isn't even the first time VW has tried to cheat the EPA. It's a problem in the auto industry. We'll see how many bullet points we have tomorrow. Government/Legal Green Volkswagen Emissions Diesel Vehicles vw diesel scandal martin winterkorn matthias mueller pension