Habeck is already there with the cheque-book.
The most forehead slapping moment was now that the chip factory in east Germany had been scrapped he wants to continue with a windmill plant.
Like all politicians, Habeck loves shiny “lighthouse” projects. I cannot assess whether the massive subsidies like in the Intel case would overall have produced a good result. It might well have if a full cluster can be generated around it. Dresden seems to have been quite successful which I think is also a function of the university. The Tesla story in Brandenburg looks much less positive.
Overall, it might be more effective to use that money to lower taxes and social security cost, and to cut red tape. Not shiny.
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It seems it’s happening.
3 plants out of 10. 300k employees. A rough calculation (3/10)*300’000 = 90k jobs at VW and who knows more at parts’ suppliers.
Just on the news, VW last quarterly will suffer a 65% loss and that is not taking the rat-tail of suppliers. Next year VW will not be the same company it is now.
For the sake of accuracy, a 64% lower profit vs. YoY Q3 is not a “65% loss”.
9M looks like 30% lower. Revenue is flat, but margins are tanking. I also suspect that VW has an interest in putting as much as possible of bad items now into Q3 numbers as they head into hard negs with unions and politicians.
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I bow to your wisdom.
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Wonder what’s happening with Executive remuneration?
The EV attempt from VW is not working that well.
I’m not surprised. I’ve seen the VW Buzz with a Swiss price of 85k CHF, and a global price around 60k USD. It’s a damned VW bus, it cannot be 60k USD.
In Autoscout, the cheapest new ID Buzz is 52k. The cheapest new T7 is 62k. Will look different if fully specced. This has always been a vehicle for the hip young yuppie family crowd.
VW’s total EV share seems stuck at 8%. So whatever goes wrong there cannot fully explain their overall margin drop into 5-6%.
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Ahhh, the cheaper models finally arrived.
Also, checked autoscout and found some of the ads explicitly say Tageszulassung / Immatriculation d’un jour. This is the red flag for poor sales. The vehicle counts as sold for the statistics, but still offered at the dealership.
The stock has a P/E ratio of 3 now 
That’s tempting…it cannot go anywhere but up, right?
Well, it can fall another 90 EUR per share. European car manufacturers’ P/E have been low and around 5 for most of the year now. A low P/E can mean that the stock is undervalued. It can also mean that profits are overestimated and expected to drop.
I am generally not buying individual stock. But I saw that several investment banks today changed VW to buy.
BL were on strike most weeks for many years. if not on strike then they were on go slow, they had no interest in making cars. Thank Red Robbo for 523 of those strikes Red Robbo: The man behind 523 car factory strikes - BBC News
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You are assuming it will survive, as the accounts are drawn up on a going concern basis, Adjustments & right offs could make it look expensive, hence it’s probably valued where it should be.
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It seems something curious is happening country-wide. The number of sick days per worker show this:
At the same time, whatever is happening in Finland and Norway shows that hours reported as “being sick” are not the end of the world.
So, correlation is not causation. Anyway, this is mentioned in the article:
The TK (Techniker Krankenkasse) data show the biggest change, besides a post-coronavirus bump in respiratory illnesses, has come from a steep rise in mental health cases since the turn of the millennium.
There has been growing criticism of pandemic-era rules enabling patients to receive sick notes from a doctor by telephone without a face-to-face examination.
Finance minister Christian Lindner said in September that there was “a correlation between the annual sick leave in Germany and the introduction of the measure” and called for it to be abolished. The country’s association of general practitioners this week pushed back, saying the measure was a rare success story in efforts to reduce bureaucracy in the healthcare system.
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Lindner is a dickhead who should not be in politics.
Blimey, in 35 years of working I took off less than 20 days in total, 8 of those I was in Hospital. I guess being self employed for 25 of those years gives a different perspective to taking Friday & Monday off because you can claim you have a cold & then posting on FB pictures of a long weekend in Italy.
From what I gather this “problem “ at VW is going to turn into a catastrophe for Germany and I believe that the full extent is only hinted at in the news to stop people from panicking. Germany is VW, it is Siemens, Bayer, BMW, Airbus… etc.
And should VW fail then it will take a lot of pillars with it
I am wondering if a failed VW would bring a government to its knees.