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...coasting through 2009, boosting its share of global car sales to 12% from 9.9% in the first half of the year. Yes VW's second quarter profits, released July 30, were down 83%, but have you seen the competition's numbers? The markets certainly like the look of the German firm: its stock price surged 5% the day the latest figures were released. "Even in a particularly difficult phase in the international automotive markets we were able to gain share in key markets. This has further improved our position on our way to the top," said Winterkorn in a statement...
When Henry Louis Gates Jr. comes to the White House, he will be able to get whatever kind of beer he wants, even if it's German or Jamaican. Crowley, who reportedly favors the domestic wheat beer Blue Moon, will receive the same treatment. There has been no word on whether the White House carries these brews on a regular basis - though that may not matter. In a July 27 appearance, White House press secretary Robert Gibbs offered to make the beer...
Ensor drew lessons in form and color from Turner, Courbet and Manet, but the spirit of his work, the mad afflatus of his gift, owes more to the Germans. His devils are inherited from Bosch and Brueghel. His taste for the grotesque traces back to Grünewald. He, in turn, would hand on his caustic vision of humanity to the German Expressionists, younger artists like Emil Nolde and Ernst Kirchner who saw the possibilities in his combination of sour disposition and strident palette...
...huge handout and Wiedeking himself suggested a more modest sum. Before the ink had dried on the check, Wiedeking announced he would donate half the money to a Porsche-sponsored charity. Not without a sense of humor, he also pledged to donate $2.3 million to assist "needy journalists". The German taxman will likely get a big chunk of what is left. "For the first time an executive has responded to the ever louder public criticism of compensation and bonuses for managers," wrote the business daily Handelsblatt. "It could be that the Wiedeking affair is a turning point." (Read...
There is another lesson in Wiedeking's downfall, a lesson unlikely to be lost on automotive executives, investment bankers or even European Union bureaucrats: Volkswagen is not just any German company. Wiedeking lost his bid for control of VW when he lost the support of Ferdinand Piech, the VW supervisory board chairman who initially backed a Porsche takeover. Piech realized that Christian Wulff, the premier of the state of Lower Saxony, which holds a blocking stake in the carmaker, would not support a takeover. All Wulff had to do was use the so-called Volkswagen...