A big Deception

by Sguimont on September 24, 2015 - 7:59pm

Even if Volkswagen was the top automaker, their stock’s value dropped from 162.20 $ to 111.12 $ between Friday September 18th and Wednesday September 23rd. Indeed, they faced off a big scandal, maybe the biggest of the year in the industry. During years they sold about 500 000 ‘’eco-friendly‘’ cars programmed to cheat on nitrogen oxide (NO) tests. In fact, those diesel cars spewed almost 40 times more NO than the American legal limit. According to another source, Volkswagen’s credit rating was placed on negative. The German group placed a cash down of 6.5 billion euros to cover the costs of this incident. However, it might be more expensive due to the possible lawsuits against them.


This scandal is a clear example of how we are manipulated by the biggest enterprises of our society. Indeed, almost all our decisions are influenced by the ads or other commercial strategies. In this case, most of the diesel car owners were probably interested by the environmental aspect of those cars, but in fact they probably polluted more than any other vehicles. In my opinion, instead of cheating on us the giant corporations should try to improve society because they have all the money and the scientists to develop something really useful. We are all humans. We need to work together and not against each other. Otherwise, we are not so different than animals.


Link : https://ca.finance.yahoo.com/q?s=VOW3.F

http://money.cnn.com/2015/09/23/news/companies/volkswagen-emissions-crisis/

https://www.fitchratings.com/site/fitch-home/pressrelease?id=991188

Comments

As you explained, we are blindly manipulated by the huge industries around us. Those industries, who have enormous power on the society, are cheating on government policy tests (see http://www.cbc.ca/news/canada/manitoba/u-of-m-engineer-explains-how-volk...), so they can save more money. They are huge, they have power, and the only thing they could do of all that is demonstrate that it is important to save money, whatever the way you do it. This is where we are now with our economic way of thinking.

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