2001 Volkswagen Jetta Vr6 Automatic 49k Miles Lqqk on 2040-cars

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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.

VW Jetta TDI dyno shows HP loss trying to recreate cheat mode

Volkswagen is working on a fix for diesel-engined vehicles that are out of compliance with emissions regulations in the US and other countries. We're told that engineers will be presenting a solution internally sometime this month, but that doesn't mean we'll actually see it in the wild this month. One big question we have about the coming fix is, will it affect the car's performance? That question relates to another we have about the engine as it is: How much performance would the 2.0-liter diesel lose right now if it were turned down to pass US emissions? The Fast Lane Car tried to sketch some answers by going to a shop in Denver, Colorado to run a 2011 Jetta TDI with a six-speed DSG transmission on an all-wheel-drive dyno. The thinking was that if you ran all four wheels the car would think it was on the road, whereas if you ran only two the car might think it's being tested. We'll get straight to the numbers: the stock sedan is quoted at 140 horsepower and 236 pound-feet of torque. When run with all four wheels turning it produced an uncorrected 114 hp and 214 lb-ft at the wheels. When run with just two wheels in motion the Jetta got 113 hp and 188 lb-ft at the wheels. Reading the graph, we're told that power differences between the two runs were as much as 15 hp and 32 lb-ft. You'll need to take some salt with these numbers, though, because the dyno and test protocol in the video are nothing like those used by the EPA. The shop attempts to trick the Jetta into 'emissions testing mode' by using the front wheels only for the two-wheel-drive run, but we have a feeling the software code at issue is far more sophisticated than that, since the ICCT, UVA, the EPA, and CARB investigated the situation for more than a year and couldn't figure out. Also, the technician adjusts for being a mile above sea level with a correction factor of 1.2 applied to horsepower and torque, which inflates the disparity in the final power differences over the two runs. Go to YouTube and read the lengthy comments on the video left by Andrew Price for a more thorough dissection of what could explain TFL's disparities. You can watch the video above, and feel free to try and dissect the results yourselves in the comments below. Related Video:

Volkswagen CEO Martin Winterkorn resigns amid diesel scandal

Volkswagen CEO Martin Winterkorn is stepping down amid charges the company manipulated its diesel-powered cars to meet emissions regulations around the world, the automaker announced Wednesday. No successor was immediately announced, though recommendations will be made at VW's board meeting Friday. Winterkorn, 68, has led VW since 2007 and oversaw the German automaker's staggering growth around the world. His departure comes less than a week after the EPA alleged the company has been cheating on diesel emissions testing for years, and that its cars might emit 40 times more pollution than legally allowed. The EPA says about 482,000 vehicles are affected in the United States, and VW estimates at least 11 million vehicles globally might have the software that allows the vehicles to cheat emissions regulations. "As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group," Winterkorn said in a statement. "I am doing this in the interests of the company even though I am not aware of any wrongdoing on my part. "Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation." Winterkorn stepped down after an executive committee meeting of the VW Supervisory Board Wednesday. The committee agreed Winterkorn had no knowledge of wrongdoing. "The executive committee has tremendous respect for his willingness to nevertheless assume responsibility and, in so doing, to send a strong signal both internally and externally," VW said in a statement. Volkswagen is conducting an internal review and expects more "personnel consequences" in the coming days. It also will voluntarily submit a complaint to the state prosecutor's office in Brunswick, Germany, and cooperate with the expected criminal investigation. Winterkorn's departure is the latest development in VW's burgeoning diesel emissions scandal. It came to light last week after the work of researchers at West Virginia University detailed the software manipulation designed to skirt EPA tests, and it has resounded as governments around the world examine Volkswagen's diesel vehicles. The company set aside $7.3 billion to deal with the fallout and has retained the law firm that defended BP during its oil spill.