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Apr 27, 2015
04/15
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BLOOMBERG
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mr. winterkorn. we like what he's doing. they outvoted to stick with mr. winterkorn. even mr.sin wolfgang porsche, also supported mr. winterkorn. mr. piech wound up isolated on the board. his wife also stepped down from her position on the supervisory board over the weekend. guy: let's talk about strategy. his strategy has always been to build the empire. talk about what he's achieved during his tenure. chad: he has created a 12-brand but he met. most important is what he's done in the luxury segment. he was instrumental in the purchase of porsche. he also helped build audi into the bahia it is today -- the dehembehemoth it is today. audi is fighting with bmw and mercedes for the top spot. mr. piech ran audi before he was the volkswagen ceo. he is the person that built this company. he also purchased two large truck makers scania and man. he was also behind the push that volkswagen made into china. they have now about a dozen factories in china. francine: where do we go from here? chad: that is the real question francine. mr. piech still has power and influence. his family con
mr. winterkorn. we like what he's doing. they outvoted to stick with mr. winterkorn. even mr.sin wolfgang porsche, also supported mr. winterkorn. mr. piech wound up isolated on the board. his wife also stepped down from her position on the supervisory board over the weekend. guy: let's talk about strategy. his strategy has always been to build the empire. talk about what he's achieved during his tenure. chad: he has created a 12-brand but he met. most important is what he's done in the luxury...
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120
Apr 16, 2015
04/15
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mr. winterkorn get the job without mr. piech's backing? kevin: technically, yes. but it would be difficult because his contract is up before piech is out. mark: thank you so much. we are hearing that the meeting is over and we do not have any word yet about the outcome. bloomberg television will continue to follow the story and bring you updates as soon as we get them. coming up, a big day in the ipo market. we hear from the ceo of virtu financial. that and more when "bottom line" continues in a moment. ♪ mark: the u.s. ipo market got a shot in the arm after shares of a high frequency trader jumped in their trading debut. virtu financial raised $314 million in an initial public offering. ceo douglas cifu is with bloomberg's ipo reporter leslie picker. leslie: thank you. a year ago, michael lewis published "flash boys and set off a spiraling effect. was there a misconception now that you have debut to successfully a year later? how has that changed over the course of the year? douglas cifu: like we told people, it was a great year. it enabled us to be transparent.
mr. winterkorn get the job without mr. piech's backing? kevin: technically, yes. but it would be difficult because his contract is up before piech is out. mark: thank you so much. we are hearing that the meeting is over and we do not have any word yet about the outcome. bloomberg television will continue to follow the story and bring you updates as soon as we get them. coming up, a big day in the ipo market. we hear from the ceo of virtu financial. that and more when "bottom line"...
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Apr 13, 2015
04/15
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BLOOMBERG
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mr. winterkorn has the clear support of the workers council and lower saxony. the issue is, one mr.oesn't think mr. winterkorn has done a good enough job in the u.s. they also haven't come up with a low-cost alternative, a cheaper volkswagen for this market. the company has been very successful. their stock is up 37% on the year. sales are right around 10 million units per year. they are getting close to taking over toyota as the world's leading automaker. cutting against that, the volkswagen brand, they've had some profitability challenges. they came in 2014 at 2.5% operating margin. their goal by 2018 is 6%. they've done a lot of cost-cutting. the retold those plants. they hope that some upfront investments are going to lead to better margins down the line. right now, it looks like mr. winterkorn has the backing of his board, but not the chairman. jonathan: let's talk about the public spat a little more. we see this stuff on wall street, here in london, how rare is it to have a public feud in germany? hans: for a family company, it is very rare. you rarely have these disputes. the
mr. winterkorn has the clear support of the workers council and lower saxony. the issue is, one mr.oesn't think mr. winterkorn has done a good enough job in the u.s. they also haven't come up with a low-cost alternative, a cheaper volkswagen for this market. the company has been very successful. their stock is up 37% on the year. sales are right around 10 million units per year. they are getting close to taking over toyota as the world's leading automaker. cutting against that, the volkswagen...
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Apr 20, 2015
04/15
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CNBC
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mr. winterkorn is speculating he might succeed him on the advisory board.turn could actually get a contract which runs longer than the one he has right now. perhaps that might sum it up but that's back to you. >> thank you so much. now, toyota plans to launch two hybrid cars in china this year in a bid to offer new models to help tackle the country's pollution problem. meanwhile, rival honda tes says it aims to sell 20% more vehicles in china in 2015. local -- they are at the shanghai auto show. >> we are here for the long term so you want to make sure that if you push too much incentive you destroy your brand because the chinese consumer is extremely picky. he's attentive to what's taking place and if he sees a lot of consistency in pricing, you'll end up damaging your brand. this is something which has put a limit on how much maneuvering or how much tactic there is for pricing in china. >> for us, it's about coming into new products and segments that we have not been in before and from this standpoint-size about capitalizing on this momentum and taking ad
mr. winterkorn is speculating he might succeed him on the advisory board.turn could actually get a contract which runs longer than the one he has right now. perhaps that might sum it up but that's back to you. >> thank you so much. now, toyota plans to launch two hybrid cars in china this year in a bid to offer new models to help tackle the country's pollution problem. meanwhile, rival honda tes says it aims to sell 20% more vehicles in china in 2015. local -- they are at the shanghai...
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Apr 13, 2015
04/15
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winterkorn. let's get more details on the story with nancy. very convoluted story. what is the problem that mr. ech has with the ceo, winterkorn? >> it's a very good question. in that interview, mr. piech said i'm distancing myself. very few details. wasn't clear exactly what he was on odds with mr. winterkorn on but the assumption is the costs. vw has been extremely successful in really boosting their volume. we saw record sales last year but the costs continue to increase and people are very concerned about that. they are also concerned about slow investment into the united states and people that haven't seen growth of that name sake in that vw brand in the u.s. market. as we know winterkorn is getting to the end of his tenure. his contract expires at 2016. there's been quite a bit speculation what happens next. who may take over. on the other side a lot of speculation he could stay beyond 2016 and if he doesn't, the initial thinking he would take over from piech when he was expected to step oun. it's a really interesting element is how we've seen the revolt since those were made. his own cous
winterkorn. let's get more details on the story with nancy. very convoluted story. what is the problem that mr. ech has with the ceo, winterkorn? >> it's a very good question. in that interview, mr. piech said i'm distancing myself. very few details. wasn't clear exactly what he was on odds with mr. winterkorn on but the assumption is the costs. vw has been extremely successful in really boosting their volume. we saw record sales last year but the costs continue to increase and people are...