VW scandal and impact on German economy - Traders Hideout | futures.io
futures.io futures trading


VW scandal and impact on German economy
Started: by rleplae Views / Replies:11,016 / 268
Last Reply: Attachments:25

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 25  
 
Thread Tools Search this Thread
 

VW scandal and impact on German economy

  #261 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,615 given, 10,809 received
Forum Reputation: Legendary


GFIs1 View Post
VW announces today to no longer sell diesel cars in USA...

GFIs1

That's one way to fix the problem.

(They probably couldn't sell any, anyway, now.)

Bob.

Reply With Quote
The following 5 users say Thank You to bobwest for this post:
 
  #262 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,605 since Feb 2012
Thanks: 3,159 given, 6,354 received
Forum Reputation: Legendary

Mercedes too


GFIs1 View Post
VW announces today to no longer sell diesel cars in USA...

GFIs1

We can read now that Mercedes is copying VW's new strategy.
They announced to no longer send the new Diesel models to USA from now.

GFIs1

PS: VW does have still 2 customer classes owning a Diesel:
1st the one in USA that can give back the car and gets golden refunds
and
2nd the European and rest of the World customer that gets

.... NOTHING

What a shame for this poor cheating company!

Reply With Quote
The following 3 users say Thank You to GFIs1 for this post:
 
  #263 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 1,793 since Sep 2015
Thanks: 3,259 given, 2,353 received
Forum Reputation: Legendary

EU takes legal action against Germany, UK over Volkswagen scandal


The European Union began legal action on Thursday against Germany, Britain and five other member states for failing to police emissions test cheating by carmakers after the Volkswagen (VOWG_p.DE) diesel scandal.

Amid mounting frustration in Brussels over what EU officials see as governments colluding with the powerful car industry, the European Commission is wielding its biggest available stick in an attempt to force nations to clamp down on diesel cars spewing health-harming nitrogen oxide (NOx) pollution.

German officials - who say EU law is poorly framed - had expected Brussels to stop short of confronting the EU's leading power and by far its biggest car manufacturer, at a time when the unity of the bloc is being challenged by eurosceptics and Britain's vote to leave.

Thursday's action is a sign that the EU executive, under pressure from the European Parliament, is keen to prove its worth to voters.

Germany, Britain, Spain and Luxembourg stand accused of failing to impose the kind of penalties Volkswagen has faced in the United States over its use of illegal "defeat device" software to mask real-world NOx emissions blamed for respiratory illnesses and early deaths.

Reacting to the announcement, German Transport Minister Alexander Dobrindt said: "Germany is the only European country to have implemented a comprehensive list of measures to prevent unauthorised use of defeat devices."

Britain enacted legislation to tackle emissions test manipulations in 2009, a spokesman for its transport ministry said. "The UK will be responding in the strongest possible terms (to the EU action)," he added.

Officials from Spain and Luxembourg could not be reached for comment.

The Commission also accuses Berlin and London of refusing to share the details of suspicious findings revealed by national investigations into the "dieselgate" scandal - without which it cannot carry out a supervisory role.

"This goes far beyond Volkswagen," said an EU source, adding that officials had more cases planned in a push to force cars spewing up to five times legal NOx limits off the road.

Thursday's notice is the first step in what is known as infringement procedures, allowing the EU to ensure the bloc's 28 nations abide by agreed EU-wide regulations. Member states have two months to respond.

If they fail to do so convincingly, the EU may take them to the EU court in Luxembourg.


Rest of the article on Reuters

Reply With Quote
The following user says Thank You to xplorer for this post:
 
  #264 (permalink)
Market Wizard
Houston TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 1,644 since Dec 2013
Thanks: 1,443 given, 2,471 received
Forum Reputation: Legendary

F.B.I. Arrests Volkswagen Executive on Conspiracy Charges in Emissions Scandal

http://www.nytimes.com/2017/01/09/business/volkswagen-diesel-emissions-investigation-settlement.html

Reply With Quote
The following 3 users say Thank You to SMCJB for this post:
 
  #265 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,615 given, 10,809 received
Forum Reputation: Legendary

Futures Edge on FIO

SMCJB View Post
F.B.I. Arrests Volkswagen Executive on Conspiracy Charges in Emissions Scandal

http://www.nytimes.com/2017/01/09/business/volkswagen-diesel-emissions-investigation-settlement.html

Thanks for this word. It just gets stranger and stranger.

Bob.

Reply With Quote
 
  #266 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,615 given, 10,809 received
Forum Reputation: Legendary

Here's more on that VW executive that just got arrested by the FBI in Florida:

http://www.nytimes.com/2017/01/09/business/volkswagen-emissions-scandal-oliver-s...top-news&WT.nav=top-news

The article points out that it is not yet known why he was even in the US in the first place, with an outstanding warrant against him. I had wondered that, too. It strikes me as extremely dumb that he would take that chance, when he would have been safe (or relatively safe) if he had stayed in Europe.

Also, VW is apparently going to plead guilty and pay a huge fine to settle the case in the US, but the deal doesn't cover any individual employees, who will have to look out for themselves.

Bob.

Reply With Quote
The following user says Thank You to bobwest for this post:
 
  #267 (permalink)
Market Wizard
Blacksburg, Virginia
 
Futures Experience: Beginner
Platform: TWS, Sierra Chart
Broker/Data: IB, SierraCharts data
Favorite Futures: mini FDAX, ES, GC
 
Posts: 764 since Oct 2014
Thanks: 9,338 given, 1,568 received

It is getting more intense & people are being charged. https://www.nytimes.com/2017/01/13/business/volkswagen-diesel-emissions-executives.html?_r=1


Quoting 
So far, six men have been formally charged, accused of defrauding the United States and Volkswagen customers there, of violating the Clean Air Act and of committing wire fraud. A seventh has pleaded guilty to conspiring to defraud regulators and car owners.


Reply With Quote
The following user says Thank You to JohnS for this post:
 
  #268 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,605 since Feb 2012
Thanks: 3,159 given, 6,354 received
Forum Reputation: Legendary

As we can read from different sources - this VW manager who was in USA for holiday reasons - faces a 169 years sentence.
And he wanted to leave the country paying a lumpy little commission


Last edited by GFIs1; January 17th, 2017 at 05:24 AM.
Reply With Quote
The following 2 users say Thank You to GFIs1 for this post:
 
  #269 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,605 since Feb 2012
Thanks: 3,159 given, 6,354 received
Forum Reputation: Legendary

Even bigger scandal with trucks?

Some news bring out the scandal of modern trucks operating in Eastern Europe on international
transport. According to information (coming out tonight on ZDF - German TV) from german sources
many truck companies operating in east European countries have software to put off "adblue" cleaning
while driving.
This results in 2 things:
1) less costs on adblue adding
2) paying less taxes for every truck as it operates in a "better" category.
Both were not detected by the western Europe countries where those foreign trucks were driving through as
those are crossing many countries as foreign trucks with foreign plates.

Everything is to find under the label "adblue killer"

one source (german):
Abgasskandal: Manipulierte LKW aus Osteuropa sorgen für massive Schäden - SPIEGEL ONLINE

Damages can be counted as double the emissions what on cheating VW diesel cars were detected.

GFIs1

Reply With Quote
The following 2 users say Thank You to GFIs1 for this post:

Reply



futures.io > > > VW scandal and impact on German economy

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

2016 True Edge Awards: Voting is open until Jan 21!

Now
 

Anthony Drager: Pulling the trigger with confidence

Elite only
 

Leo Murphy: The Art and Science of Technical Analysis

Elite only
 

FuturesTrader71: Ask Me Anything

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
France Faces 'Devastating Scandal' as Economy Stalls Quick Summary News and Current Events 0 April 9th, 2013 05:10 AM
Libor Scandal: Why Criminal Charges Are Now Likely Quick Summary News and Current Events 0 July 23rd, 2012 05:20 PM
Vatican faces widening of leaks scandal kbit News and Current Events 0 May 27th, 2012 10:19 PM
G-20 Demands German Gold To Keep Eurozone Intact; German Central Bank Tells G-20 Wher Quick Summary News and Current Events 0 November 6th, 2011 03:00 AM
Fed Poised to Aid Economy, But Impact Is Cloudy Quick Summary News and Current Events 0 November 2nd, 2010 11:40 AM


All times are GMT -4. The time now is 08:12 PM.

no new posts
Page generated 2017-01-20 in 0.14 seconds with 20 queries on phoenix via your IP 54.145.218.90