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Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

New J.D. Power Initial Quality Study puts Porsche, GM in spotlight

J.D. Power and Associates has released its annual Initial Quality Study, and this year, Porsche and General Motors took the spotlight. The study, which asks new car owners to report problems experienced during the first 90 days of ownership, found that overall, the industry averages 113 problems per 100 vehicles.
Porsche managed a score of just 80 problems per 100 vehicles, while GMC took the second spot on the podium with 90. Lexus filled out the top three with 94 problems per 100 vehicles, followed by Infiniti at 95 and Chevrolet at 97. The study also looks at specific models, and found the Lexus LS to enjoy the best initial quality at 59 problems per 100 vehicles.
Interestingly enough, the report found that around two-thirds of most owner problems experienced in the first 90 days are attributable to vehicle design instead of mechanical failure. Specifically - echoing a refrain we've been hearing for the last few years - owners are having a hard time figuring out how to use the technology present in their new vehicles. Head over to the J.D. Power site for more information, or scroll down below for the company's related press release.

Top Gear's latest trailer shows off a golden Bugatti Chiron

Top Gear is returning on March 5, and after a lackluster first series with the new hosts, the new group seems determined not to hit a sophomore slump. Chris Evans is gone, and the latest teaser trailer shows the new trio of Matt LeBlanc, Chris Harris, and Rory Reid strapped into some pretty fantastic cars, including the Bugatti Chiron and the Ford GT. All of the typical Top Gear segments appear to be present, though the quick cuts don't give us many details. The trailer shows a copious amount of powerslides from an assortment of cars, and even Chris Harris racing around Daytona. Aside from the Bugatti and Ford, cars from Porsche, Lamborghini, Ferrari, BMW, Aston Martin, and Alfa Romeo are all present. Co-hosts Eddie Jordan and Sabine Schmitz don't appear at all, so it seems their roles may be downplayed to focus on three guys, as was the case pre-reboot. We have some hope for this re-relaunched show and will be keeping an eye out for more details in the lead-up to the series premiere. Related Video: News Source: YouTube Celebrities TV/Movies Alfa Romeo BMW Bugatti Ferrari Ford Lamborghini Porsche Top Gear chris harris Bugatti Chiron matt leblanc