Companies like Monsanto and Nestle and now Volkswagen are at the front line of evilness. They have shown no regard for mother earth and/or humans. With Monsanto soon gone, we can only hope that VW goes the same way. And experts now warns about Volkswagen. Germany’s biggest car maker could in fact go BANKRUPT.
Is it absurd to think that the world’s largest car company could to bankrupt? Not according to expert’s who states that the current emissions scandal could ruin the company. And I would like to say, gladly for me at least. How much hasn’t this company cost mother nature in damages?
Based on the latest investigations and probabilities, the financial disclosure is that Volkswagen AG has Probability Of Bankruptcy of 29.0 – 40.0%. And this is much higher than that of the sector, and significantly higher than other manufacturers in the car industry.
Volkswagen is bracing itself for dozens of class-action lawsuits by US owners over the emissions scandal that investors have warned could bankrupt the company. At least 25 lawsuits involving claimants from all 50 states have been filed against the German car maker after it admitted rigging tests to make its cars appear greener than they actually are.
The firm, who have hired the legal firm that defended BP after the Deep Water Horizon oil rig disaster, is believed to have put aside almost $8billion to deal with lawsuits. However, some experts have warned that after fines, falling sales and stock plunges are taken into account the final bill could have been far higher and might force the company into bankruptcy.
Germany newspaper Welt am Sonntag also reported that VW’s Hans Dieter Poetsch has stated that the financial fallout of the debacle could ruin Volkswagen, according to Reuters. Presumably, if this is true, the threat is in two parts. The first is that fines from nations around the world may reach billions of dollars. The second is that faith in the brand may disintegrate and sales tumble. The actual cost of repairing the cars is little more than a rounding error.
We really don’t need a company like this with their evil policies. We be better of without them.