VW-gate grows into major scandal

Volkswagen's internal corruption has grown in scale and now is thought to involve up to 60 employees of Europe's largest automaker. According to the Telegraph, Bernd Pischetsrieder, the company's chief executive, revealed that VW's own investigation involving the review of 1,000,000 pages of internal documents is "deeply troubling", even though they've only managed to look at the first 100,000 pages. Mr. P. was upfront about the company's dismal outlook saying he predicted at least two more years of trouble for its U.S. operations, further job cuts in Europe, as well as losses in China where it once held a commanding 50% of the market. Though VW has deep pockets, we have to wonder how long it can sustain a downward spiral of this magnitude before its solvency is seriously threatened.