Dieselgate

The former CEO of Volkswagen Martin Winterkorn will receive, as of 2017, a pension of approximately € 1.2 million per year, or € 3,100 per day, despite the dieselgate, as reported today by the German newspaper Bild.
The Winterkorn contract, forced to step back because of emissions scandal that ran over the Vw in the US and then in Europe, is officially expired at the end of 2016, and former top manager, who has 69 years, has entitled to a hefty pension.

Volkswagen will face claims for 8.2 billion euro over Dieselgate. About 1,400 lawsuits have been lodged at the regional court in Braunschweig near VW’s Wolfsburg headquarters, the court said.

The facts date back to last year, when from United States emerged that the Wolfsburg automaker used a software to make up the data on harmful emissions of its cars. Overall about two billion requests come from institutional investors, while the remaining 6.2 billion come from private investors.

Volkswagen has reached an agreement with 652 American dealers for losses incurred due to the emissions scandal, the so-called Dieselgate. The Deutch company has not specified the amount of the transaction "in cash" and probably until "late September" will work to develop "details" of the cartel which in any case must be examined by a Court of San Francisco.

For about a year the American dealers were forbidden to sell the VW diesel cars manufactured during the period affected by the scandal. The company, in a statement, confirmed that the agreement provides "cash payments and other benefits that will be granted to retailers."

The Bavarian Government will cause to Volkswagen. The fall in the price of the automaker’s shares in Wurzburg, it said in a statement, determined by dieselgate damages the Bavarian pension funds. Bavaria’s state pension fund for civil servants lost as much as 700,000 euros ($ 783,580.00) after VW shares plunged in the wake of the Sept. 18 revelation by U.S. regulators of the carmaker’s manipulation.