Volkswagen To Pay $10.2 Billion In Emissions Lawsuit (bbc.co.uk)

Reader Khashishi writes: Slashdot has been following the story of Volkswagen manipulating diesel emissions tests for some time now. The control software contained algorithms which reduced emissions during testing but not during normal driving. Well, now Volkswagen has agreed to pay $10.2 billion (alternate source: BBC) to settle the case, according to Associated Press. This is higher than the $430 million damages estimated in this story. It appears that vehicle owners will have the choice of fixing their cars or selling them back. Most of the money will go towards fixing the cars, buying them back, and compensating owners.

Comments

Need better corporate penalties

[Anonymous Coward]

Straight money costs to companies are wrong. They effect the economic viability of companies and put jobs, and economies at risk while costing consumers.

A better approach would be a forced share dilution of significant proportion, 10,25 or 50% or more. This would not impact the economic viability of the company and would affect the value held by those supposedly actually in control of the company, the shareholders and the executives with share values.

It would then be up to the government who then owned the new shares to decide to immediately sell and drop the share price or hold on for higher value later.

The government would get money. There would be a punishment on the company, but the basic operation of the company would be lower.

Deep Water Horizon BP Oil Spill

[bussdriver]

BP payed more... but not much more for doing far more damage!
Wasn't their settlement about $20 billion?