We begin ‘A Shunpikers Journal’ with the details of the agreement reached recently between Volkswagen, the U.S. government and attorneys representing owners, regarding the diesel cheating scandal. You’ll recall, the problem came to light little over a year ago. The company had programmed into the computers of around 11 million 2.0-liter diesel engines worldwide code that misrepresented emissions (mostly NOx) in order to avoid costly exhaust technology or lost performance and therefor sales. Our guest, Cooley Law School professor and international business law expert, Paul Carrier, goes through the details with me point by point, including how this all started. What will happen to the company? What choices owners have? What exactly is NOx and how do we assess the damage? . . . You get the picture.
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