Political Forums  

Go Back   Defending The Truth Political Forum > Political Forum > Political Ideologies > Big Government

Big Government Big Government Forum - Political Philosophy Forum


Thanks Tree3Thanks
  • 1 Post By Sabcat
  • 1 Post By imaginethat
  • 1 Post By Twisted Sister
Reply
 
LinkBack Thread Tools Display Modes
Old March 16th, 2017, 06:36 PM   #1
Celebrating diversity
 
Sabcat's Avatar
 
Join Date: Dec 2013
Location: Earth
Posts: 20,077
What happened to the VW fines?

Everybody was all up in arms over VW duping the people and the EPA and they were supposedly fined lots and lots of monies. Where did it all go?

I found this from some time ago


Volkswagen Agrees to $15 Billion Diesel-Cheating Settlement

Quote:
Volkswagen AGs $15.3 billion agreement to get a half million emissions-cheating diesel vehicles off U.S. roads sets an auto-industry record that will only go higher as criminal probes and lawsuits on three continents roll ahead.

The German carmaker agreed to devote as much as $10 billion to buy back affected models and compensate drivers. It will also pay $2.7 billion to federal and California regulators to fund pollution-reduction projects, and give $2 billion to be invested in clean technology. Volkswagen also announced a $603 million settlement to resolve consumer and environmental claims with 44 U.S. states.

The settlements mark a swift but partial resolution for VW in the U.S., after the carmaker admitted last September to systematically rigging environmental tests since 2009 to hide that its diesel vehicles were emitting far more pollutants than allowed under U.S. and California law. VWs widely traded preferred shares closed more than 1.6 percent higher at 107.75 euros in Frankfurt after rising as much as 5 percent Tuesday.

https://www.google.com/amp/s/www.blo...issions-claims


Does anyone have any idea what really happened to the money?
Thanks from Hollywood
Sabcat is offline  
Old March 16th, 2017, 08:46 PM   #2
Senior Member
 
imaginethat's Avatar
 
Join Date: Oct 2010
Location: Western Slope, Colorado
Posts: 53,251
I've read the whole article, and I think it answered your question sort of.
VW Buybacks to Begin Under $14.7 Billion Diesel-Cheat Accord

Volkswagen AG and drivers suing the company in the U.S. over its diesel-cheating scandal won final approval of their $14.7 billion settlement to resolve what’s likely to be the largest portion of VW’s civil liability worldwide.

The accord requires VW to buy back cars with 2.0-liter diesel engines armed with so-called defeat devices used to beat emissions tests. Under the deal VW reached in June with consumers and regulators including the U.S. Environmental Protection Agency and the Federal Trade Commission, car owners will be offered $5,100 to $10,000 each in compensation along with the option of a buyback or a fix.

The automaker has earmarked $19.5 billion (17.9 billion euros) to cover costs stemming from the scandal. With Tuesday’s approval by U.S. District Judge Charles Breyer in San Francisco, VW has committed to almost $16.6 billion in settlements, including $1.2 billion for U.S. franchise dealers and $603 million to California and 43 other states over violations of consumer-protection laws.
More: https://www.bloomberg.com/news/artic...ing-settlement

In a way it sucks, but in another way it's pure justice.
Thanks from Twisted Sister
imaginethat is offline  
Old March 16th, 2017, 09:46 PM   #3
Senior Member
 
Twisted Sister's Avatar
 
Join Date: Sep 2015
Location: Brown Township, Ohio
Posts: 9,641
Quote:
Originally Posted by imaginethat View Post
I've read the whole article, and I think it answered your question sort of.
VW Buybacks to Begin Under $14.7 Billion Diesel-Cheat Accord

Volkswagen AG and drivers suing the company in the U.S. over its diesel-cheating scandal won final approval of their $14.7 billion settlement to resolve whats likely to be the largest portion of VWs civil liability worldwide.

The accord requires VW to buy back cars with 2.0-liter diesel engines armed with so-called defeat devices used to beat emissions tests. Under the deal VW reached in June with consumers and regulators including the U.S. Environmental Protection Agency and the Federal Trade Commission, car owners will be offered $5,100 to $10,000 each in compensation along with the option of a buyback or a fix.

The automaker has earmarked $19.5 billion (17.9 billion euros) to cover costs stemming from the scandal. With Tuesdays approval by U.S. District Judge Charles Breyer in San Francisco, VW has committed to almost $16.6 billion in settlements, including $1.2 billion for U.S. franchise dealers and $603 million to California and 43 other states over violations of consumer-protection laws.
More: https://www.bloomberg.com/news/artic...ing-settlement

In a way it sucks, but in another way it's pure justice.
In Fulton Country (Atlanta) and immediate surrounding counties it is mandatory to get a emissions test once a year. I would see old jalopys riding up and down the road belching out thick gasoline exhaust fumes. I asked my black friend how do they get away with that? He said they pay extra money to a cheat emissions inspector who uses his new car for the test. ahh I said
Thanks from Hollywood
Twisted Sister is offline  
Old March 17th, 2017, 03:18 AM   #4
Celebrating diversity
 
Sabcat's Avatar
 
Join Date: Dec 2013
Location: Earth
Posts: 20,077
Quote:
Originally Posted by imaginethat View Post
I've read the whole article, and I think it answered your question sort of.
VW Buybacks to Begin Under $14.7 Billion Diesel-Cheat Accord

Volkswagen AG and drivers suing the company in the U.S. over its diesel-cheating scandal won final approval of their $14.7 billion settlement to resolve whats likely to be the largest portion of VWs civil liability worldwide.

The accord requires VW to buy back cars with 2.0-liter diesel engines armed with so-called defeat devices used to beat emissions tests. Under the deal VW reached in June with consumers and regulators including the U.S. Environmental Protection Agency and the Federal Trade Commission, car owners will be offered $5,100 to $10,000 each in compensation along with the option of a buyback or a fix.

The automaker has earmarked $19.5 billion (17.9 billion euros) to cover costs stemming from the scandal. With Tuesdays approval by U.S. District Judge Charles Breyer in San Francisco, VW has committed to almost $16.6 billion in settlements, including $1.2 billion for U.S. franchise dealers and $603 million to California and 43 other states over violations of consumer-protection laws.
More: https://www.bloomberg.com/news/artic...ing-settlement

In a way it sucks, but in another way it's pure justice.

Then there is this from 1/11/17

Quote:
Volkswagen AG (VOWG_p.DE) confirmed on Tuesday it has negotiated a $4.3 billion draft settlement with U.S. regulators to resolve its diesel emissions troubles and plans to plead guilty to criminal misconduct.

The guilty plea is part of the civil and criminal deal as the automaker looks to restore its tarnished global brand. Volkswagen said with the addition of the fine, its diesel costs will exceed the nearly 18.2 billion euros ($19.2 billion) it has set aside to handle the problem. VW also said it will face oversight by an independent monitor over the next three years.

Reuters reported earlier the company's supervisory board is set to meet on Wednesday to approve a civil and criminal settlement with the U.S. Justice Department over the automaker's diesel emissions. VW said the supervisory board and the management board would meet Tuesday or possibly Wednesday to approve the deal.

VW is expected to plead guilty as part of the settlement as early as Wednesday, a source familiar with matter said. The plea deal will need the approval of a U.S. judge.
https://www.google.com/amp/mobile.re.../idUSKBN14U1VC
Sabcat is offline  
Old March 20th, 2017, 07:56 AM   #5
Senior Member
 
BubbaJones's Avatar
 
Join Date: Mar 2013
Location: Middle Tennessee
Posts: 5,702
A coworker has a VW and an Audi (he and wife both used to work for Audi). The Jetta he paid $18K for it, has driven it 4 years and 90,000 miles VW is buying it back for $16K. They're actually getting $2000 MORE for his wife's 4 year old Audi than they paid for it. These are both outright buy backs, not trade in allowances.
BubbaJones is offline  
Reply

  Defending The Truth Political Forum > Political Forum > Political Ideologies > Big Government

Tags
fines, happened



Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Then this happened coke Current Events 1 July 24th, 2016 03:15 PM
Ferguson judge behind aggressive fines policy owes $170,000 in unpaid taxes LongWinded Current Events 38 March 8th, 2015 08:47 AM
Wisconsin Democrats Get $100 Daily Fines For Being AWOL npr Current Events 0 March 2nd, 2011 03:00 PM
What Happened on 9-11? intangible child Conspiracy Theories 0 November 16th, 2009 08:47 AM


Facebook Twitter RSS Feed



Copyright © 2005-2013 Defending The Truth. All rights reserved.