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    Porsche VW takeover?

    "STUTTGART, Germany (AFP) - Friction is mounting between German automaker Porsche and workers at Volkswagen, where employee representatives fear losing their influence if VW is swallowed up by Porsche.

    Porsche head Wendelin Wiedeking fired the first shot earlier this month, unveiling his plans to take control of Volkswagen, the German group of which Porsche already owns about 31 percent.

    Adding to the tension, he let it be known that if his plans bore fruit, there would be no more "sacred cows" at VW, where employees enjoy advantageous working conditions thanks to collective bargaining agreements.

    Porsche finance director Holger Harter this past weekend disclosed in an interview that his company did not intend to include a VW representative on its board of directors if the takeover went ahead."

    http://afp.google.com/article/ALeqM5j6isMK95WpkvAKPWygDg7M2476Sw


    Re: Porsche VW takeover?

    I hear they planning to buy China next

    Re: Porsche VW takeover?

    Seriously though, I'm not sure just how much of a good thing this will be....

    Re: Porsche VW takeover?

    The question is not IF Porsche is likely to takeover VW it is just WHEN.

    Porsche is offering 3 seats to the VW employees on the Supervisory board of the "new" Porsche SE. Porsche employees will also get 3 seats and this is a big issue. 3 seats for 345,000 employees and 3 seats for 11,000 employees .... guess who is in the driver's seat !!!!

    Harter was talking about the board of management of Porsche SE the holding company that will have only 2 members Wiedeking and Harter.

    Re: Porsche VW takeover?

    Quote:
    EricAlain said:
    Porsche is offering 3 seats to the VW employees on the Supervisory board of the "new" Porsche SE. Porsche employees will also get 3 seats and this is a big issue. 3 seats for 345,000 employees and 3 seats for 11,000 employees .... guess who is in the driver's seat !!!!




    Comes down to who owns who, doesn't it...

    Re: Porsche VW takeover?

    Quote:
    EricAlain said:
    Porsche is offering 3 seats to the VW employees on the Supervisory board of the "new" Porsche SE. Porsche employees will also get 3 seats and this is a big issue.



    I guess the VW workers' council is not so much worried about the 3/3 appointments, but about the German co-determination law being evaded via the SE. Actually another Machiavallian trick of Piech - at the beginning he always played the nice guy for the VW workers' council when it came to the discussion of restructuring programs (knowing that he would need their consent in the supervisory board for the strategic steps he had in mind ) - now that he has reached his goal, he shows his muscles

    Actually I think this development will be a very good thing for VW: those sacred cows have be slaughtered for sure.

    Perhaps Piech will be able to turn VW from a "VEB" into a real enterprise

    Re: Porsche VW takeover?

    Quote:
    Porsche-Jeck said:
    Quote:
    EricAlain said:
    Porsche is offering 3 seats to the VW employees on the Supervisory board of the "new" Porsche SE. Porsche employees will also get 3 seats and this is a big issue.



    I guess the VW workers' council is not so much worried about the 3/3 appointments, but about the German co-determination law being evaded via the SE. Actually another Machiavallian trick of Piech - at the beginning he always played the nice guy for the VW workers' council when it came to the discussion of restructuring programs (knowing that he would need their consent in the supervisory board for the strategic steps he had in mind ) - now that he has reached his goal, he shows his muscles

    Actually I think this development will be a very good thing for VW: those sacred cows have be slaughtered for sure.

    Perhaps Piech will be able to turn VW from a "VEB" into a real enterprise



    I would not be surprised if Porsche eventually took over VW. Dr. Porsche did invent the VW, after all.

    My rationale is as follows: 1) Porsche needs to be part of a much larger firm if it is to be able to continue to produce the high quality internal combustion engine high performance cars it has been producing(and hopefully will continue producing, as far as I am concerned); 2) owning VW will allow Porsche to negotiate an agreement within the EU to allow it to produce less expensive cars (which are super "green-friendly") along with its traditional cars (like the 911, which are not as "green-friendly" as some in the EU would like); and 3) running VW will allow Porsche to sell to make more profit from its technological advances, which, to say the least, are considerable.

    Jim

    Re: Porsche VW takeover?

    Agree...let free cap mkts prevail...

    Consumers want cheap, safe, useable cars....

    Engineers want to innovate interesting perf/safety/comfort advances....but I suspect most really smart <40yo engineers migrated to SiliconValley yrs ago...and can afford any cars/planes they desire if their innovations are truly monetizable....

    Shareholders want mfrs that are profitable and growing profits at a rate to justify valuations...

    Scared enities are likely those who had hoped for civil-service-like, assured pay/benefits for dubious productivity vs global competitive forces....

     
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