I get your argument, but if you buy a car and it says 140hp in the brochure, and after this big mess is cleaned up you are left with a 140hp car that suddenly feels slow - you have no legal claim that you were cheated out of power.
The TDI in question hits peak power at 2500, which is the target rpm for smogchecks. I don't think emissions and hp have an obvious relationship.
If it was that simple this wouldn't be an issue. What VW needs to do is install a newly-engineered urea system, but the space required for the tank will probably kill this solution. It would also cost about $6k in a best-case scenario. What VW will probably do is a software update, which will lower power and mileage, and then give each car owner a check for $3k for lying about its stats. Some will opt not to get the fix and VW will probably have to pay a special fine for each of those cars to get the EPA to "ignore" them.
I'm gonna go with cockroach theory here. We already went from 500k to 11m in a day. This will expand to Seat Skoda, Scania, Man; will expand to MANY more countries; and I have a hunch they will find something similar - although far less insidious - in their gasoline models. Then you have the lost sales for the next few years, lost trust and sales in their other models, and dealer ramifications. Don't forget the plethora of GLOBAL lawsuits, and finally EPA and CARB fines, which I am betting will be as harsh as possible. I actually think the company is in very serious trouble here... as serious as it gets. I expect this to drip down for at least 6 months, and maybe cut in half from here to~ $12. No position and I have loved VW my whole life; just calling it as I see it.
The rated horsepower and torque is taken when the car is on a dyno and/or on a smogcheck. What you will lose with a fix is the "free" power you get outside that mode, which is fairly substantial. So the car will feel weaker, but will still have what it was rated for. VWs are notoriously under-rated (now we know why). As for mileage I have no idea. What VW needs to do is retrofit a complete urea system to the old cars, but from what I've heard there is no room for the tank, so VW is only offering software flashes; I have also heard owners can choose not to get updated... which implies VW will just pay off a huge fine and those cars will simply remain dirty.
They are a self-admitted mouthpiece for big money. About 15 years ago Thomson bought Reuters. First thing they did was fire all the old (real) news Editors and replace them with young wallstreet jerks, ala Merrill Lynch among others. Thomson harvests info and trends; then Reuters disseminates. Pretty useful tool for making big money. When ELN went down Reuters actually published a hit piece with "death" in the title that was completely false. The article was updated 12 minutes later, but ELN had plummeted 50% in 15 minutes. This was the biggest insider trading scam in history and Reuters was the tool that made it work. The Street does the same thing but on a much smaller level.
Are you really this stupid? CHK wrote down assets because they CAN. Never let a good opportunity go to waste. If they didn't write down assets that would be grounds for firing. And in a couple years when all that "value" is re-realized investors will be soooo happy.
But you're not trading miners, let alone gold. You are trading a highly complicated leveraged paper derivative targeting a sampling of an industry that is at best breaking even right now; zero zero zero physical backing of this paper-pyramid scheme. Notice the price of physical gold has only moved 1/2 % today.
Yes, I thought with Greece tumbling, gold at historic lows, market toppy and going into summer this would be a fairly safe place to park some money. So far I got that quite wrong.
I didn't know (until recently) that AMD designed GDDR5 (and 3). That is pretty ironic - that every card Nvidia sells relies on AMD tech, but the reverse is not true. And here they are again improving how memory works for the entire industry; they have also nearly single-handedly vastly improved API options by gifting Mantle to Microsoft and helped create the next openGL standard. True innovators while the other guys game the market.
I went to go buy an SRT Hellcat, but when I saw the MPGs I just bought a Prius instead. Practically the same thing.
Also Zen makes $2.15 revenue per share, while SPRT makes $1.67. Nearly 97% of SPRT's market cap is in cash! I keep thinking it is only a matter of time before it gets folded into a bigger company, but then I am woken up by the drip-drip of the price going lower.
This is interesting, because I am in the bay area and temps have been cooler than normal since Feb. In fact the various botanical gardens in SF and Oakland have very few blooms and it is now June!
'Cause Muslims never do anything bad, right? All those recent beheading videos - those are fake. Islam is truly the religion of peace, and those people love Americans and our drones. They would never attempt to highjack a plane or do a suicide bombing. We are so lucky to have someone here who is an expert on plane wrecks! I would love to pick your brain about all the crash sites you've studied. It all looks suspicious; I mean - those planes are pretty tough and should be able to just bounce off the ground at 500mph while carrying 50000 gallons of fuel. Clearly all those "families" who were crying were paid actors. I'm pretty sure I saw Vince Offer in the crowd. In protest I will never ever buy another Shamwow.
You ignorant pimple. If it is simply a demonstration of zero-sum mathematics - how on earth does that help "make the science happen"? I will tell you: we will be left with a miniscule 7 million outstanding share count, and dilution... make that MASSIVE dilution; will get us back to the 20 to 30m range and poof! Shareholder value will be gone up in smoke. The science happens by robbing us. Don't even get me started on the shelved non-converted shares....