Volkswagen works council chief Bernd Osterloh says what started as two German companies growing together has ended up as a hostile takeover of Volkswagen by Porsche. The Volkswagen works council and Porsche is currently in a legal battle over how many workers from Volkswagen should be represented on the supervisory board’s holding company. The current proposal is 3 seats from Volkswagen and 3 seats from Porsche on the board. Naturally, Volkswagen wants more seats, and they justify it with the fact that Volkswagen had over 30 times more workers then Porsche, so it should have greater representation.
Osterloh also thinks that the new holding company which will hold both Porsche and Volkswagen should be called Volkswagen and Porsche Automobilholding instead of just being called Porsche Automobilholding as it is now.
After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.
For people who have known and loved both makes all their lives, they are one and the same since the father of VW is Ferdinand Porsche.
Union union…
just goes to show what a strong company porsche is, taking control of a large chunk of VW. not bad at all for a predominantly sportscar maker who builds “boring cars” by the definition of some.
BanyakMasukWorkshop said,
February 27, 2008 @ 9:10 am
Not bad at all for a predominantly sportscar maker who builds “boring cars†by the definition of some.
—–
hehe..true..true.
errr….. Poshwagen????
mitlanevo said,
February 27, 2008 @ 12:14 pm
errr….. Poshwagen????
—————————————————————-
This reminds me of the badges on some of the Kancils, it says Produa.
And reminds me of Adolf Hitler.
http://www.youtube.com/watch?v=kYvZnTFpip0
Enjoy.
volksche
Normally, the number of representatives in any company’s board/council will be determined by the size of their share’s stake respectively. However in the case of VW, it’s rather difficult. Even though Porsche is holding a big slice of the pie, VW itself is a very strong entity with their so-called tradition of ‘Volkswagen Law’. With this law, any share holder can’t exercise more than 20% of their voting right regardless the size of their stake in the VW. This law has been erected to avoid any foreign competitor from taking large stake and controlling the company. (On this account,i believe Proton’s previous decision to reject VW attempt in controlling its fate should be applauded by all M’sian)
However it’s reported that Porsche is always aiming to buy the remaining VW share that it doesn’t own to ensure the both companies will always be keeping together. And on top of that, VW has been contributing a big portion of Porsche’s profit, where in the 1st fiscal half of 2007, Porsche had gained 1.14 billion euro profit and out of that, 1 billion euro came from VW. So just imagine, why VW is so important to Porsche..
By the way, i crazily like both of’em…Porsh and VW, yeah they should stay together forever.
the sports beetle company take over the original beetle company, lolz !!!
Sounds more like hostile takeover by VW instead. It’s VW that’s demanding things now. lol!
VolksPorcheWagon. VPW
The new VW saga.. soap opera..
hehehe.. you;re just too much vw..
‘olang tamak, silalu lugi loooo…’
Well… imagine that… and to think that there could have been a Volkswagen Porsche Proton…
then it will be Volkscheton, hahahaha!!!
Albeit out of topic…but can u guys imagine if the future new beetle project is taken care by porsche….its epic, remember porsche is designed by the same person who design the beetle. Battle with bmw’s Mini Cooper
I really hope porsche can bring the beetle back to the fast lane…and wif sleeker design of course