Volkswagen announced Friday that Christine Hohmann-Dennhardt would join the embattled automaker from a similar post at Daimler after receiving approval from that automaker’s board of directors.
The Daimler board member and former judge will join Volkswagen on its Board for Integrity and Legal Affairs to help the automaker clean up its severely tarnished image after it admitted it had cheated emissions tests on more than 11 million cars worldwide. From Daimler:
In the interests of the Good Corporate Governance of the German automotive industry, the Chairman of the Supervisory Board of Daimler AG has agreed to this request after consultation with the Presidential Committee of the Supervisory Board, after Compliance is anchored firmly at Daimler and its corporate culture.
Porsche Automobil Holding SE’s supervisory board members and cousins Ferdinand Piech and Wolfgang Porsche are being sued by seven hedge funds that are seeking 1.8 billion euros ($2.4 billion) in compensation over damages they claim to have suffered as a result of the Porsche holding group’s failed 2008 attempt to purchase the Volkswagen Group.
The National Labor Relations Board will conduct a hearing to discuss allegations regarding management conduct at Mercedes-Benz’s Vance, Alabama plant. The reports filed with the Board allege that Mercedes violated worker’s rights by forbidding discussion of unions during working hours, as well as threatening termination of employees that solicited for the union.
A gentleman named Louis Bird is suing Hyundai because his 2011 Elantra isn’t getting the claimed 40 mpg that Hyundai’s ads apparently tout. Bird is being supported by a group called Consumer Watchdog, and if that rings a bell, maybe it’s because TTAC has dealt with them a few times in the past regarding Hyundai.
So when I get my next big check I’m getting me a Panther. On this you can depend. You’ve talked me into it! But that’s not the point of my email. Rather, I’ve seen these HID light kits and wonder if it’s a lot of hype or if there is some veracity to the upgrade?
When private, for-profit firms ask for public money, taxpayers tend to take a more personal interest in their goings-on. After all, they are, in a very real sense, still the partial owners of these companies, and they put up the cash to provide a second chance to companies that offer no similar reciprocation when consumers default on their own car loans. And though US taxpayers have earned the right to feel a sense of ownership towards GM and Chrysler, there are several groups of Americans who have shouldered a disproportionate amount of the burden of the bailout. First, the GM and Chrysler employees who were laid off despite the bailout must doubtless wonder why they had to both fund the bailout and lose their jobs (remember, cutting jobs was the most “positive” aspect of the bailout, according to the industry). Similarly, GM and Chrysler’s bondholders paid twice to “save” their failed investments, once with their tax money and again by taking a hefty cramdown. And finally, a third group paid far more than anyone else, not only funding the bailout with with their taxes, but also sacrificing compensation for injuries caused by GM and Chrysler vehicles. The WSJ [sub] reports
Among the creditors who suffered most, car-accident victims represent a distinct mold. Unlike banks and bondholders, this group didn’t choose to extend credit to the auto makers. As consumers, they became creditors only after suffering injuries in vehicles they purchased.
“This was not a normal case. The government was deciding who was going to be taken care of and who was not,” said David Skeel, a University of Pennsylvania law school professor and bankruptcy expert who has testified before Congress on the auto bailouts. Even if the auto makers had legal rights to leave behind product-liability claims, “there is a deep unfairness,” he said. “It would have been easy enough to set something aside for them.”
Given the celebratory, even triumphalist, rhetoric that’s being applied to the auto bailout after the fact, it’s important to remember that many suffered in order to give GM and Chrysler a second chance. Even those who are proud of the bailout’s accomplishment should acknowledge that the jobs saved carried a price that goes beyond any final accounting of anonymous billions lost from the federal budget. The pro-bailout crowd should take more care to recognize and heal the deep wounds that fester beneath their “Mission Accomplished” rhetoric… if only to prevent a repeat of these tragic decisions in the event of future industry rescues.
Should you be afraid of towing in a new Ford Explorer? Though the newly-unibody Explorer is rated for up to 5,000 pounds, Jack Baruth noted in his review that
My experience pulling my race car on an open trailer with my Flex indicates that the D4 chassis is more than up to the job, but that the transmission just feels delicate. Serious towing with a sideways gearbox frightens me, and it should frighten you, too.
And though you might well share Jack’s nervousness about towing in a new Explorer, the law of the land says it’s safe pulling up to 5,000 pounds. Even so, Consumer Reports found out the hard way that not everyone believes in the Explorer as a safe, effective towing machine. Namely the equipment rental company U-Haul appears to have some kind of problem with the Explorer, as CR’s Eric Evarts explains
I called U-Haul to see about renting their largest, 6×12-foot open trailer to drag the mulch home. “Come on down! $29.95 for the day,” the friendly attendant said.
Eager to finish that day and save $18 by delivering the mulch myself, I trundled off to the local U-Haul lot. As the workers started to fill out the paperwork inside, their faces went ashen the second I said, “Explorer.”
“Sorry, we won’t let any equipment out behind an Explorer,” they said, and began putting away their pencils.