Re: Tip of the iceberg? - Saab General Bulletin Board - Saabnet.com
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Re: Tip of the iceberg?
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Posted by used2bcheaptech (more from used2bcheaptech) on Thu, 24 Sep 2015 18:22:53 Share Post by Email
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.

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