The BBC is reporting that the chief executive at Volkswagon has resigned. He had little choice and could still be in deep legal trouble in the USA. I would have thought that the entire board at VW could face prison in the USA. To be caught cheating is simply unacceptable corporate behaviour.
See http://www.bbc.co.uk/news/business-34340997 .
Wednesday, 23 September 2015
House Martins at Anglesey Abbey today
Well, there are still house martins around. We saw at least 6 this
afternoon at Anglesey Abbey. These may be the stragglers or young ones.
They will soon be gone to warmer climes. We also heard long tail tits
and saw a buzzard.
The grounds here are very large and
there is always something to see at any time of the year. The picture
shows pompoms hung in trees made from old dahlia heads. They dig up the
dahlia bed Oct 4th. The dahlias have been splendid for a couple of
months.
More on the brewing VW (and others?) scandal
At the last count 11 million VW cars are involved. VW are in trouble big time
and it is all their own fault. The executives and many at the top will
rightly have to "carry the can" for this mess up. Surely, they had no need
to blatantly cheat?
Sorry, but I have absolutely no sympathy for this unethical business behaviour. They deserve to suffer for deliberately deceiving the public and the testers. It would not surprise me if some senior executives get lengthy prison sentences.
As investigations continue, I expect we will hear of others (not VW) involved in similar cheats. I have no sympathy as there is absolutely no place for unethical "carrying ons" like this in the 21st century. VW should have been above this sort of behaviour. They got caught cheating and have to take the consequences. This means money and prison.
See http://www.bbc.co.uk/news/business-34332452 .
Sorry, but I have absolutely no sympathy for this unethical business behaviour. They deserve to suffer for deliberately deceiving the public and the testers. It would not surprise me if some senior executives get lengthy prison sentences.
As investigations continue, I expect we will hear of others (not VW) involved in similar cheats. I have no sympathy as there is absolutely no place for unethical "carrying ons" like this in the 21st century. VW should have been above this sort of behaviour. They got caught cheating and have to take the consequences. This means money and prison.
See http://www.bbc.co.uk/news/business-34332452 .
Tuesday, 22 September 2015
VW - if reports are correct they should have known better
Assuming the reports in the media that VW cheated in emissions tests are correct, all I can say is they must be stupid and they should have known better. If the reports are correct this is a scandal and is unforgivable. VW should be banned in the USA for this unethical behaviour. Heads will roll, but at a corporate level they should not have cheated. Bad, bad, bad on their part. Almost unbelievable from VW.
See http://www.bbc.co.uk/news/business-34325005 .
See http://www.bbc.co.uk/news/business-34325005 .
FTSE 100 well down
When I last looked (about 11.25am UK time) the FTSE 100 share index was down over 2% on the day at 5972.09. It would not surprise me if it goes lower still. We are in turbulent times. The recent Greek elections and China continue to weigh heavily on the markets.
UPDATE 4.38pm UK time: The FTSE 100 is down 2.51%.
UPDATE 4.43pm UK time: Meanwhile shares in my old company Sepura are up on the day at 174p each.
UPDATE 4.57pm UK time: The FTSE 100 is even lower, down 2.83% on the day so far. I expect tomorrow it will rise?
UPDATE 4.38pm UK time: The FTSE 100 is down 2.51%.
UPDATE 4.43pm UK time: Meanwhile shares in my old company Sepura are up on the day at 174p each.
UPDATE 4.57pm UK time: The FTSE 100 is even lower, down 2.83% on the day so far. I expect tomorrow it will rise?
Swallows - not quite gone yet
This morning, there were 6 swallows feeding over the allotments about
200m from our house. These may have been passing through and getting a
good feed before the very long journey ahead.
Fair thee well and see you in April, if nature is willing.
Fair thee well and see you in April, if nature is willing.
Monday, 21 September 2015
China
Today I heard the Chinese are selling a rip-off of the RaspberryPi called the OrangePi.
Before long, all our consumer and professional goods will be "Made in China". China is still a low cost manufacturing area and we are happy for them to have low wages and sweat-shop working conditions which would not be accepted here.
We complain about their pollution yet are happy to pay low costs for underpants, fridges and everything. Nothing, it appears, is made in the West.
As the Chinese get richer they will expect better working conditions and will refuse to be sweat-shop fodder. When this time comes China will become another Japan. No doubt, we will look to other countries with sweat-shops and low costs: we are addicted to low costs.
In the end this cannot be compatible with "living within our means". Our low costs for borrowing will end and we will catch a cold. The only answer, in the longer term, is to bring back manufacturing to the West and pay realistic prices. The writing is writ large on the wall. China is gradually ruining the West and we are all fools to be so taken in. Sadly, it is very hard to fight.
Before long, all our consumer and professional goods will be "Made in China". China is still a low cost manufacturing area and we are happy for them to have low wages and sweat-shop working conditions which would not be accepted here.
We complain about their pollution yet are happy to pay low costs for underpants, fridges and everything. Nothing, it appears, is made in the West.
As the Chinese get richer they will expect better working conditions and will refuse to be sweat-shop fodder. When this time comes China will become another Japan. No doubt, we will look to other countries with sweat-shops and low costs: we are addicted to low costs.
In the end this cannot be compatible with "living within our means". Our low costs for borrowing will end and we will catch a cold. The only answer, in the longer term, is to bring back manufacturing to the West and pay realistic prices. The writing is writ large on the wall. China is gradually ruining the West and we are all fools to be so taken in. Sadly, it is very hard to fight.
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