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Re: Tip of the iceberg?
Posted by used2bcheaptech (more from used2bcheaptech) on Thu, 24 Sep 2015 18:22:53
In Reply to: Re: Tip of the iceberg?, DE
[Profile/Gallery]
, Thu, 24 Sep 2015 16:10:42
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Well in cases like these (class action suits) lawyers smell the money like sharks smell blood and try to get in on as much of the action as possible. Owning a Hyundai I followed the legal process to a degree in the mpg litigation, there class action suits filed by a number law firms. I believe as part of the overall settlement these suits were consolidated and worked by a single law firm - this ordered by a Federal District Judge I believe. The DOJ levied a $ 100m fine against Hyundai/Kia and consumers such as I were given several choices - one a monetary lump sum payment, another an amount for the term of ownership based on miles driven and the delta between the higher (incorrect) mpgs and the revised accurate EPA mpg nos. I choose the latter and several times a year get a credit card from Hyundai - it's been around $150 a year for me.
So the consumer undoubtedly will be compensated in the VW case - for the delta in fuel economy and probably loss of resale value. Not sure about the performance. Expect any lawyers involved to come away with a nice payday.
But have already seen articles suggesting that for bargain hunters it may be a good time to buy VW.
I don't think the EPA and DOJ is in the business of intentionally putting auto companies out of business, after all we still have GM . But they want to make sure the consumer is compensated in a reasonably equitable way and a big punitive fine levied for violation of US laws.
And I will stick to my statement that overall consumers have short memories, esp those buying gas powered vehicles.
Your post prompted me to do a search on the least respected professions in the US - polls like Gallup track these things and lawyers fared better than professions like car salesmen, politicians, drug dealers, insurance salesmen and stockbrokers.
As an fyi I have 2 brothers who make good bucks in corporate law (UVA and Georgetown) and I still occasionally speak with them, lol.
posted by 24.8.62...
Posts in this Thread:
- VW Emission Scandal, EGD
, Tue, 22 Sep 2015 10:09:52- Re: VW Emission Scandal - link to some details, used2bcheaptech, Fri, 25 Sep 2015 11:48:35
- Re: VW Emission Scandal, BobS, Thu, 24 Sep 2015 15:59:10
- Kudos to the EPA and CARB, Janik, Thu, 24 Sep 2015 13:56:35
- I'm not surprised, AdamB
, Wed, 23 Sep 2015 07:54:50 - Engine Reliability After Recall, Tim, Wed, 23 Sep 2015 02:02:10
- Will probably be a fire sale on used Jetta TDI Wagons, Bill Homer
, Tue, 22 Sep 2015 14:29:01 - Re: VW Emission Scandal, Nick Taliaferro
, Tue, 22 Sep 2015 11:36:22- Test modes are allowed, but, steve, Tue, 22 Sep 2015 13:50:27
- Not completly convinced..., Cary, Tue, 22 Sep 2015 14:51:17
- Re: Not completly convinced..., Mike Johnson, Wed, 23 Sep 2015 12:37:57
- No need to speculate anymore, ryan
, Wed, 23 Sep 2015 10:16:40 - Retrofit could cost $3,000 per car., Norm9-5, Wed, 23 Sep 2015 08:06:16
- Re: VW Emission Scandal, Craig, Tue, 22 Sep 2015 10:42:22
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