Piech of _ _ _ _ (fill in the blank with your favorite word) to leave VW

Porsche's Wiedeking Joins VW Board; Piech to Leave

Porsche AG Chief Executive Officer Wendelin Wiedeking will join the supervisory board of Volkswagen AG, Europe's biggest carmaker, effective immediately, Porsche spokesman Anton Hunger said.

Ferdinand Piech, Volkswagen's current supervisory chairman, will step down when his term expires in 2007, Hunger said in a telephone interview today from Porsche's Stuttgart, Germany, headquarters.

Piech's position will be filled by someone who isn't affiliated with Porsche, Volkswagen's largest shareholder, or the German state of Lower Saxony, the Wolfsburg, Germany-based carmaker's second-biggest investor, Hunger said.

Auto Spies perspective: This guy did more to hurt VW than any other factor in the last 40 years. Good riddance!


Homer008Homer008 - 1/20/2006 5:26:28 PM
+1 Boost
VW's spiraled downward since 90's IMO when Peachnutjob took over the VW. This guy ruined VW and brought VW down to its knee. VW investors are crying like babies just got hit by an hammer.

VW missed so many opportunities in China for example. Chinese market did 360 degrees IMO after discovering how crappy these things were built. Now VW are making abysmal amount of profit if any in China.

VW's stock price is at $55 while target price is or was much higher..truely a bad sign.

When you read sales in numbers it doesn't mean a damn thing folks. Of course sales number will go up most of the time. Population and wealth is increasing hello? But meat and potato of business is the net profit.

VW's profit in estimates are:

2001=$3.5 billion
2002=$3.1 billion
2003=$1.2 billion
2004=$780 million!
2005=$800 million!
2006=$600 million estimated
(Reference: BusinessWeek/December issue 05, page 48)

Another problem with VW is the lingering greedy bastards on the current board. I hear scandals after scandals on CNN.

Another thing..German workers are logging in record amount of work every year to compete againest Asian carmakers and it'll be interesting to see what the outcome will be in a few years.


Homer008Homer008 - 1/20/2006 5:26:28 PM
+1 Boost
VW's spiraled downward since 90's IMO when Peachnutjob took over the VW. This guy ruined VW and brought VW down to its knee. VW investors are crying like babies just got hit by an hammer.

VW missed so many opportunities in China for example. Chinese market did 360 degrees IMO after discovering how crappy these things were built. Now VW are making abysmal amount of profit if any in China.

VW's stock price is at $55 while target price is or was much higher..truely a bad sign.

When you read sales in numbers it doesn't mean a damn thing folks. Of course sales number will go up most of the time. Population and wealth is increasing hello? But meat and potato of business is the net profit.

VW's profit in estimates are:

2001=$3.5 billion
2002=$3.1 billion
2003=$1.2 billion
2004=$780 million!
2005=$800 million!
2006=$600 million estimated
(Reference: BusinessWeek/December issue 05, page 48)

Another problem with VW is the lingering greedy bastards on the current board. I hear scandals after scandals on CNN.

Another thing..German workers are logging in record amount of work every year to compete againest Asian carmakers and it'll be interesting to see what the outcome will be in a few years.


atomicbriatomicbri - 1/22/2006 9:55:40 AM
+1 Boost
Piech was definately an arrogant "Piech of _ _ _ _"
He was self absorbed and destroyed Volkswagen product range. The Phaeton??? Why??? I mean it is an excellent car, but needs to stay the Audi it is based on. I hope with VW's new plan they had here in America to research what AMericans like that a lot more relevant products will come out of VW. I will not be sad to see him leave.


993Turbo993Turbo - 1/27/2006 9:03:11 AM
+1 Boost
Piech did commission and successfully bring the Veyeron to market. Nothing to sneeze at. The worst part is the VW dealer network.


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