Legislation in Lower Saxony, Germany, has put pay to Porsche's hopes of aquiring more shares of VW
29 May 2008

The German cabinet has prevented Porsche from taking control of Volkswagen by approving changes to the Volkswagen Law. The legislation was modified to fit in with a recent EU ruling that struck down the law because of its 20 per cent cap on shareholding voting rights. The revised law now specifies that more important company decisions need more than 80 per cent of the shareholder approval.Lower Saxony, which is keen to maintain employment levels across the state, owns 20 per cent of the shares, effectively allowing it block any of Porsche’s plans for VW’s future.

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7

29 May 2008

Porsche needs VW more than VW needs Porsche, leave Vdub alone they are doing fine all by themselves thank you very much. Porsche needs to concentrate on making sports cars, something they have done well for years and leave the SUV’s and grocery getters to Volkswagen, Audi and BMW.

You don’t need a weatherman
To know which way the wind blows
—Robert Allen Zimmerman

29 May 2008

Ferdinand Piech who runs the supervisory board is a smart enough operator to make sure VW will be taken over. It's merely a matter of when, not if.

29 May 2008

[quote Autocar]The German cabinet has prevented Porsche from taking control of Volkswagen by approving changes to the Volkswagen Law.
[/quote]

Nein, nein, nein!

I think you have this wrong. The German cabinet's decision on Tuesday was to reconstitute the so-called VW Law in order to comply with the EU Commission's ruling of the original law's contravention of EU single-market competition law. They, the German Govt., have reformed the 'VW Law' but have effectively reconfirmed the right of the Lower Saxony(LS) regional govt., which holds just over 20% of the shares in VW, to block major decisions affecting LS's well-being, such as the much feared wholesale transferrance of production facilities out of LS to the East. This is suspected of the Porsche/Piech family in order to maximise further, returns on their investment at the expense of jobs and prosperity in LS and Germany wider. The EU's competiton commissioner, McGreevy(?), is expected to immediately cry foul over this non-change, contempt of EU law by the German Govt and threaten severe penalties. The VW Works Council leader, Osterloh, has today at VW's General meeting, basically told them, the EU, to get stuffed - LS and Germany at federal level will do what is best for German workers and the hitherto successful, 220,000 person employing VW business.

29 May 2008

Loather - "Osterloh, has today at VW's General meeting, basically told the EU to get stuffed."

Good. I thought we signed up to a 'common-market'. Not a Communist centrally controlled bunch of socialist dictators, unaccountable and unaswerable directly to anybody looking like a voter for their frauds over CO2/Climate, Health/Smoking and dictates over sausages, cheese, yabba yabba yo.

Let's join the Euro and tell the rest of the diplomats in Brussels mangling our diverse Euopean cultures they're surplus to requirements and to clear their desks, find a proper job and p*ss off.

30 May 2008

Well if this is true im sure that VW could find ways to persuade some of the final 20% of voters to change their votes... Prostitutes or holidays to the Bahamas perhaps?

2 June 2008

YEAH for VW!!

The buy-out of VW by Porsche would have seriously been driven by the FAG Syndrome - Fear And Greed!!! Its most heartening to see there are much greater issues, employment and prosperity primary, than obscenely larger profits for a cliche of obscenely rich people, generated by underhand dubious manipulation. Lets see Porsche stand on its own two feet, protect its 'brand', grow healthily, and stop stealing so-called niches it neither needs nor makes sense to be in. MB and BMW seem about as expert at that as the world needs to see. In days gone by motor vehicles, sportscars excepted, came in small, medium, and large, as cars or station wagons. The single advent that changed that, a tiny bit, was the coming of the 'hatch', and that was really only a slight re-hash of the station wagon. Quite some years ago now Toyota bought out a 4WD station wagon called the Tercel, so inspite of the steroided monsters with rediculous acronyms and effete designer-speak garbage names - especially the Porsche Aye-canne, they are no more than just a repeat version of the original old station wagon. Porsche make sportscars, now of some repute, and its time they put some serious money into replacing that tired old 911/shape. And will someone PLEASE tell them, hanging an engine out behind the rear axle has ALWAYS been the wrong place.

Long live VW, in the hands of the right people.

28 November 2008

So the German Government is taking a short term keep employment high view rather than a long term keep the companies competitive view ! This will result in far more jobs being lost in the long run, especially high added value engineering jobs. Its typical of politicains to just think of the next election rather than thinking of the country`s long term good.

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