Porsche got what it wanted with the repeal of the "Volkswagen Law", but has done nothing yet but stand over its prey, waiting for... well, nobody knows what Porsche is waiting for. However, Porsche CEO Wendelin Wiedeking has told VW that the smaller company will not make Christmas dinner of the larger: Porsche will wait until after the holidays to take majority control of Volkswagen.
His exact words were "Christmas is the holiday of peace; let's create a little harmony." Yet there doesn't seem to be much of that going around. Porsche created a new board structure, and the board will have six seats. Porsche and VW workers thought that meant that each company got three seats each. VW, with 324,000 workers to Porsche's slightly-less-than 12,000, doesn't like that arrangement, so it's suing for more seats. Wiedeking clarified the board structure to say that either company could have as many seats as both sides could agree to -- but that he wouldn't go against Porsche employees' expectation of three.
So no one knows how the transaction will play out -- and to hear Wiedeking tell it, that includes him. "Even now," he said, "none of the players involved knows how many moves will still be required and how long it will take until the game is finally over." If this were a movie, he would then laugh maniacally, stroke the white cat in his lap, and hit the big red button on the console in front of him. But it's not. So, like everyone else, we'll just wait and see.
[Source: IHT]
His exact words were "Christmas is the holiday of peace; let's create a little harmony." Yet there doesn't seem to be much of that going around. Porsche created a new board structure, and the board will have six seats. Porsche and VW workers thought that meant that each company got three seats each. VW, with 324,000 workers to Porsche's slightly-less-than 12,000, doesn't like that arrangement, so it's suing for more seats. Wiedeking clarified the board structure to say that either company could have as many seats as both sides could agree to -- but that he wouldn't go against Porsche employees' expectation of three.
So no one knows how the transaction will play out -- and to hear Wiedeking tell it, that includes him. "Even now," he said, "none of the players involved knows how many moves will still be required and how long it will take until the game is finally over." If this were a movie, he would then laugh maniacally, stroke the white cat in his lap, and hit the big red button on the console in front of him. But it's not. So, like everyone else, we'll just wait and see.
[Source: IHT]
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