Iceni Posted January 23, 2009 Share Posted January 23, 2009 Did any of you watch the BBC2 Money Prog last night ? Whilst I was delighted to see the hedge fund managers being shafted, the likelihood that it was my pension money going down the toilet made my joy short lived.John Link to comment Share on other sites More sharing options...
AnOther Posted January 23, 2009 Share Posted January 23, 2009 Called a pyrrhic victory isn't it [blink] Link to comment Share on other sites More sharing options...
velcorin Posted January 23, 2009 Share Posted January 23, 2009 In most other countries what Porsche did is illegal. In Germany it is not. Does that say anything about BaFin? An investor can have a holding + options on 74% of a company, 20% is non-trading stock, and this is not public knowledge! In France the public has a right to know who owns a company. In German it's a secret. Since this happened the DAX is down 21% as against the Footsie 13%, and the Dow 14%. Coincidence?, or have investors lost confidence in BaFin? I would also wonder if VW having a parent with such low Equity, relative to the size of the subsiduary, is a good thing. Certainly I would be wondering about VW's Cashflow and debt obligations, did they tried to tap up the ECB for loans to cover their auto-loans because no German bank would cover them? The market always wins in the end, and revenge is a dish best served cold, so let's wait a year or 2 and see what happens. Link to comment Share on other sites More sharing options...
Chief Posted February 8, 2009 Share Posted February 8, 2009 Not sure if this is on the same subject matter, but i recently read that Porsche make more money out of stock market trading than they do selling cars worldwide. One commentator called them a hedge fund that also sells cars, so dramatic is the shift from core business. Link to comment Share on other sites More sharing options...
Anton Redman Posted February 8, 2009 Share Posted February 8, 2009 VW have made a number of mind numbingly dumb choices in recent years. Investment in Lambo probably being the worst but the RR Bently debacle and Bugatti resurection running it close. However unlike any US car maker the auto unions medical benefits schemes do not have them totally in thrall. Reckon Toyota and VW will still be brands in 50 years time. Link to comment Share on other sites More sharing options...
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