“Volkswagen AG shares plunged Tuesday on speculation a U.S. Justice Department lawsuit could potentially cost the company tens of billions of dollars in penalties, significantly more than the $18 billion previously estimated.”
—Wall Street Journal (1/5/2015)
In a post last Fall titled, “Calculating VW’s Financial & Legal Hit From Emissions Scandal,” my back-of-the-envelope calculations suggested VW was facing something like $28 billion in liability as a starting point. I continued:
“Of course, that’s just for what are called “compensatory” or “economic” damages. Add 25% in punitive damages, government fines, etc. and the total (legal) price tag could easily trip $35 billion.”
–Ross Kaplan; City Lakes Real Estate Blog (10/6/2015).
As of this morning, Wall Street seems to agree . . .
See also, “Four Reasons Why Apple Should Buy VW.”
There is only one way to impart justice in this scenario. No one should ever buy a VW again. Period. VW’s corporate lobby and legal and political resources will see to it that they only receive a slap on the wrist and that life will go on for them and others of their ilk. The PEOPLE can send the message though, to VW and any who might consider perpetration of a similar crime against humanity. WE can take them out forever. I’m going to do my part, I promise, and it will be as simple as a boycott, costs nothing, painless, immediate, easy.