1.
Volkswagen Group
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Volkswagen Group, or Volkswagen Aktiengesellschaft, shortly VW AG, is a German multinational automotive manufacturing company headquartered in Wolfsburg, Lower Saxony, Germany. It designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines, in 2016, it was the largest automaker in the world with sales of 10.3 million units, overtaking Toyota. It has maintained the largest market share in Europe for over two decades and it ranked seventh in the 2016 Fortune Global 500 list of the worlds largest companies. It is divided into two divisions, the Automotive Division and the Financial Services Division, and has approximately 340 subsidiary companies. VW also has two major joint-ventures in China, the company has operations in approximately 150 countries and operates 100 production facilities across 27 countries. Volkswagen was founded in 1937 to manufacture the car which would become known as the Beetle, the companys production grew rapidly in the 1950s and 1960s, and in 1965 it acquired Auto Union, which subsequently produced the first post-war Audi models. Volkswagen launched a new generation of front-wheel drive vehicles in the 1970s, including the Passat, Polo and Golf, the companys operations in China have grown rapidly in the past decade with the country becoming its largest market. It has been traded in the United States via American depositary receipts since 1988, Volkswagen delisted from the London Stock Exchange in 2013. The state of Lower Saxony holds 12. 7% of the companys shares, Volkswagen held a 19. 9% non-controlling shareholding in Suzuki between 2009 and 2015. An international arbitration court ordered Volkswagen to sell the back to Suzuki. Suzuki paid $3. 8bn to complete the stock buy-back just hours prior to a scandal about emissions violations engulfing Volkswagen. Volkswagen was founded on 28 May 1937 in Berlin as the Gesellschaft zur Vorbereitung des Deutschen Volkswagens mbH by the National Socialist Deutsche Arbeitsfront. The purpose of the company was to manufacture the Volkswagen car, originally referred to as the Porsche Type 60, then the Volkswagen Type 1 and this vehicle was designed by Ferdinand Porsches consulting firm, and the company was backed by the support of Adolf Hitler. On 16 September 1938, Gezuvor was renamed Volkswagenwerk GmbH, only a small number of Type 60 Volkswagens were made during this time. The Fallersleben plant also manufactured the V-1 flying bomb, making the plant a major bombing target for the Allied forces, however, no British car manufacturer was interested, the vehicle does not meet the fundamental technical requirement of a motor-car. It is quite unattractive to the average buyer, to build the car commercially would be a completely uneconomic enterprise. In 1948, the Ford Motor Company of USA was offered Volkswagen, but Ernest Breech, as part of the Industrial plans for Germany, large parts of German industry, including Volkswagen, were to be dismantled. Total German car production was set at a maximum of 10% of the 1936 car production numbers
2.
European Union
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The European Union is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km2, the EU has developed an internal single market through a standardised system of laws that apply in all member states. Within the Schengen Area, passport controls have been abolished, a monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency. The EU operates through a system of supranational and intergovernmental decision-making. The EU traces its origins from the European Coal and Steel Community, the community and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. While no member state has left the EU or its antecedent organisations, the Maastricht Treaty established the European Union in 1993 and introduced European citizenship. The latest major amendment to the basis of the EU. The EU as a whole is the largest economy in the world, additionally,27 out of 28 EU countries have a very high Human Development Index, according to the United Nations Development Programme. In 2012, the EU was awarded the Nobel Peace Prize, through the Common Foreign and Security Policy, the EU has developed a role in external relations and defence. The union maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7, because of its global influence, the European Union has been described as an emerging superpower. After World War II, European integration was seen as an antidote to the nationalism which had devastated the continent. 1952 saw the creation of the European Coal and Steel Community, the supporters of the Community included Alcide De Gasperi, Jean Monnet, Robert Schuman, and Paul-Henri Spaak. These men and others are credited as the Founding fathers of the European Union. In 1957, Belgium, France, Italy, Luxembourg, the Netherlands and West Germany signed the Treaty of Rome and they also signed another pact creating the European Atomic Energy Community for co-operation in developing nuclear energy. Both treaties came into force in 1958, the EEC and Euratom were created separately from the ECSC, although they shared the same courts and the Common Assembly. The EEC was headed by Walter Hallstein and Euratom was headed by Louis Armand, Euratom was to integrate sectors in nuclear energy while the EEC would develop a customs union among members. During the 1960s, tensions began to show, with France seeking to limit supranational power, Jean Rey presided over the first merged Commission. In 1973, the Communities enlarged to include Denmark, Ireland, Norway had negotiated to join at the same time, but Norwegian voters rejected membership in a referendum
3.
Bundestag
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The Bundestag is a constitutional and legislative body at the federal level in Germany. For its similar function, it is described as a lower house of parliament along the lines of the US House of Representatives. The German constitution, however, does not define the Bundestag, since 1999 it has met in the Reichstag Building in Berlin. Norbert Lammert is the current President of the Bundestag, Members of the Bundestag are usually elected every four years by all adult German citizens in a mixed system of constituency voting and list voting. There are currently 631 seats, however, one – belonging to the CDU – remains vacant. The Election Day, however, can be if the Federal Chancellor loses a vote of no confidence. In the 19th century the name Bundestag was the designation for the assembly of the sovereigns and mayors of the Monarchies. Its seat was in the Free City of Frankfurt on the Main, two decades later, the current parliament building was erected. The Reichstag delegates were elected by direct and equal male suffrage, the Reichstag did not participate in the appointment of the Chancellor until the parliamentary reforms of October 1918. After this the Reichstag met only rarely, usually at the Krolloper following the Reichstag fire starting in 1933 to unanimously rubber-stamp the decisions of the government and it last convened on 26 April 1942. With the new constitution of 1949, the Bundestag was established as the new German parliament, the Bundeshaus in Bonn is the former Parliament Building of Germany. The sessions of the German Bundestag were held there from 1949 until its move to Berlin in 1999, today it houses the International Congress Centre Bundeshaus Bonn and in the north areas the branch office of the Bundesrat. The southern areas became part of German offices for the United Nations in 2008, the former Reichstag building housed a history exhibition and served occasionally as a conference center. The Reichstag building was occasionally used as a venue for sittings of the Bundestag and its committees and the Bundesversammlung. In 2005, an aircraft crashed close to the German parliament. It was then decided to ban private air traffic over Central Berlin, together with the Bundesrat, the Bundestag is the legislative branch of the German political system. The committees play a prominent role in this process, Plenary sessions provide a forum for members to engage in public debate on legislative issues before them, but they tend to be well attended only when significant legislation is being considered. This check on executive power can be employed through binding legislation, public debates on government policy, investigations, for example, the Bundestag can conduct a question hour, in which a government representative responds to a previously submitted written question from a member
4.
Lower Saxony
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Lower Saxony is a German state situated in northwestern Germany and is second in area, with 47,624 square kilometres, and fourth in population among the sixteen Länder of Germany. In rural areas Northern Low Saxon, a dialect of Low German, and Saterland Frisian, a variety of Frisian, are still spoken, but the number of speakers is declining. Lower Saxony borders on the North Sea, the states of Schleswig-Holstein, Hamburg, Mecklenburg-Vorpommern, Brandenburg, Saxony-Anhalt, Thuringia, Hesse and North Rhine-Westphalia, and the Netherlands. Furthermore, the state of Bremen forms two enclaves within Lower Saxony, one being the city of Bremen, the other, its city of Bremerhaven. In fact, Lower Saxony borders more neighbours than any other single Bundesland, the states principal cities include the state capital Hanover, Braunschweig, Lüneburg, Osnabrück, Oldenburg, Hildesheim, Wolfenbüttel, Wolfsburg and Göttingen. The northwestern area of Lower Saxony, which lies on the coast of the North Sea, is called East Frisia, in the extreme west of Lower Saxony is the Emsland, a traditionally poor and sparsely populated area, once dominated by inaccessible swamps. The northern half of Lower Saxony, also known as the North German Plains, is almost invariably flat except for the hills around the Bremen geestland. Towards the south and southwest lie the northern parts of the German Central Uplands, the Weser Uplands, between these two lie the Lower Saxon Hills, a range of low ridges. Thus, Lower Saxony is the only Bundesland that encompasses both maritime and mountainous areas, Lower Saxonys major cities and economic centres are mainly situated in its central and southern parts, namely Hanover, Braunschweig, Osnabrück, Wolfsburg, Salzgitter, Hildesheim and Göttingen. Oldenburg, near the coastline, is another economic centre. To the north, the Elbe river separates Lower Saxony from Hamburg, Schleswig-Holstein, Mecklenburg-Western Pomerania, the banks just south of the Elbe are known as Altes Land. Due to its local climate and fertile soil, it is the states largest area of fruit farming. Most of the territory was part of the historic Kingdom of Hanover. It was created by the merger of the State of Hanover with several states in 1946. Lower Saxony has a boundary in the north in the North Sea. The state and city of Bremen is an enclave surrounded by Lower Saxony. The Bremen/Oldenburg Metropolitan Region is a body for the enclave area. To the southeast the state border runs through the Harz, low mountains that are part of the German Central Uplands, in northeast Lower Saxony is Lüneburg Heath
5.
Takeover
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In business, a takeover is the purchase of one company by another. In the UK, the term refers to the acquisition of a company whose shares are listed on a stock exchange. A friendly takeover is an acquisition which is approved by the management, before a bidder makes an offer for another company, it usually first informs the companys board of directors. In an ideal world, if the board feels that accepting the offer serves the better than rejecting it, it recommends the offer be accepted by the shareholders. In a private company, because the shareholders and the board are usually the people or closely connected with one another. If the shareholders agree to sell the company, then the board is usually of the mind or sufficiently under the orders of the equity shareholders to cooperate with the bidder. This point is not relevant to the UK concept of takeovers, a hostile takeover allows a bidder to take over a target company whose management is unwilling to agree to a merger or takeover. Development of the tender is attributed to Louis Wolfson. A hostile takeover can be conducted in several ways, a tender offer can be made where the acquiring company makes a public offer at a fixed price above the current market price. Tender offers in the United States are regulated by the Williams Act, another method involves quietly purchasing enough stock on the open market, known as a creeping tender offer, to effect a change in management. In all of these ways, management resists the acquisition, the main consequence of a bid being considered hostile is practical rather than legal. A well-known example of an hostile takeover was Oracles hostile bid to acquire PeopleSoft. A reverse takeover is a type of takeover where a company acquires a public company. With a new management team, the stock is a much more attractive investment, which would likely result in a price rise and a profit for the corporate raider. A backflip takeover is any sort of takeover in which the company turns itself into a subsidiary of the purchased company. This type of takeover can occur when a larger but less well-known company purchases a struggling company with a very well-known brand, examples include, The Texas Air Corporation takeover of Continental Airlines but taking the Continental name as it was better known. NationsBanks takeover of the Bank of America, but adopting Bank of Americas name, interceptor Entertainments acquisition of 3D Realms, but kept the name 3D Realms. Often a company acquiring another pays an amount for it
6.
European Court of Justice
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The European Court of Justice, officially just the Court of Justice, is the highest court in the European Union in matters of European Union law. As a part of the Court of Justice of the European Union it is tasked with interpreting EU law, the Court was established in 1952 and is based in Luxembourg. It is composed of one judge per member state – currently 28 – although it normally hears cases in panels of three, five or 15 judges, the court has been led by president Koen Lenaerts since 2015. The court was established in 1952, by the Treaty of Paris as part of the European Coal and it was established with seven judges, allowing both representation of each of the six member States and being an unequal number of judges in case of a tie. One judge was appointed from each state and the seventh seat rotated between the large Member States. The Maastricht Treaty was ratified in 1993, and created the European Union, the name of the Court did not change unlike the other institutions. The power of the Court resided in the Community pillar, the Court gained power in 1997 with the signing of the Amsterdam Treaty. Issues from the pillar were transferred to the first pillar. Previously, these issues were settled between the member states, the ECJ is the highest court of the European Union in matters of Union law, but not national law. It is not possible to appeal the decisions of courts to the ECJ. However, it is ultimately for the court to apply the resulting interpretation to the facts of any given case. Although, only courts of appeal are bound to refer a question of EU law when one is addressed. The treaties give the ECJ the power for consistent application of EU law across the EU as a whole, the court also acts as arbiter between the EUs institutions and can annul the latters legal rights if it acts outside its powers. The judicial body is now undergoing strong growth, as witnessed by its continually rising caseload, the Luxembourg courts received more than 1,300 cases when the most recent data was recorded in 2008, a record. The staff budget also hit a new high of almost €238 million in 2009, the Court of Justice consists of 28 Judges who are assisted by 11 Advocates-General. The Judges and Advocates-General are appointed by common accord of the governments of the member states, 37% of judges had experience of judging appeals before they joined the ECJ. In practice, each member state nominates a judge whose nomination is then ratified by all the member states. The President of the Court of Justice is elected from and by the judges for a term of three years
7.
Protectionism
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Protectionist policies protect the producers, businesses and workers of the import-competing sector in a country from foreign competitors. According to proponents, these policies can counteract unfair trade practices, protectionists may favor the policy in order to decrease the trade deficit, maintain employment in certain sectors, or favor the growth of certain industries. In recent years, protectionism has become closely aligned with the anti-globalization movement, There is a broad consensus among economists that the impact of protectionism on economic growth is largely negative, although the impact on specific industries and groups of people may be positive. The doctrine of protectionism contrasts with the doctrine of free trade, a variety of policies have been used to achieve protectionist goals. Tariff rates usually vary according to the type of goods imported, import tariffs will increase the cost to importers, and increase the price of imported goods in the local markets, thus lowering the quantity of goods imported, to favour local producers. Tariffs may also be imposed on exports, and in an economy with floating exchange rates, however, since export tariffs are often perceived as hurting local industries, while import tariffs are perceived as helping local industries, export tariffs are seldom implemented. Import quotas, To reduce the quantity and therefore increase the price of imported goods. The economic effects of a quota is similar to that of a tariff. Economists often suggest that import licenses be auctioned to the highest bidder, administrative barriers, Countries are sometimes accused of using their various administrative rules as a way to introduce barriers to imports. Anti-dumping legislation, Supporters of anti-dumping laws argue that they prevent dumping of cheaper foreign goods that would cause local firms to close down, however, in practice, anti-dumping laws are usually used to impose trade tariffs on foreign exporters. Direct subsidies, Government subsidies are given to local firms that cannot compete well against imports. These subsidies are purported to protect jobs, and to help local firms adjust to the world markets. Export subsidies, Export subsidies are often used by governments to increase exports, Export subsidies have the opposite effect of export tariffs because exporters get payment, which is a percentage or proportion of the value of exported. Export subsidies increase the amount of trade, and in a country with floating exchange rates, have similar to import subsidies. Exchange rate control, A government may intervene in the exchange market to lower the value of its currency by selling its currency in the foreign exchange market. Doing so will raise the cost of imports and lower the cost of exports, international patent systems, There is an argument for viewing national patent systems as a cloak for protectionist trade policies at a national level. Peter Drahos explains that States realized that patent systems could be used to cloak protectionist strategies, There were also reputational advantages for states to be seen to be sticking to intellectual property systems. In the modern trade arena many other initiatives besides tariffs have been called protectionist, for example, some commentators, such as Jagdish Bhagwati, see developed countries efforts in imposing their own labor or environmental standards as protectionism
8.
Porsche
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F. Porsche AG, usually shortened to Porsche AG, is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans. Porsche AG is headquartered in Stuttgart, and is owned by Volkswagen AG, Porsches current lineup includes the 718 Boxster/Cayman,911, Panamera, Macan and Cayenne. Ferdinand Porsche founded the company called Dr. Ing. h. c, F. Porsche GmbH in 1931, with main offices at Kronenstraße 24 in the centre of Stuttgart. Initially, the company offered motor vehicle development work and consulting, One of the first assignments the new company received was from the German government to design a car for the people, that is a Volkswagen. This resulted in the Volkswagen Beetle, one of the most successful car designs of all time, the Porsche 64 was developed in 1939 using many components from the Beetle. During World War II, Volkswagen production turned to the version of the Volkswagen Beetle, the Kübelwagen,52,000 produced. Porsche produced several designs for heavy tanks during the war, losing out to Henschel & Son in both contracts that ultimately led to the Tiger I and the Tiger II. However, not all work was wasted, as the chassis Porsche designed for the Tiger I was used as the base for the Elefant tank destroyer. Porsche also developed the Maus super-heavy tank in the stages of the war. At the end of World War II in 1945, the Volkswagen factory at KdF-Stadt fell to the British, Ferdinand lost his position as Chairman of the Board of Management of Volkswagen, and Ivan Hirst, a British Army Major, was put in charge of the factory. On 15 December of that year, Ferdinand was arrested for war crimes, during his 20-month imprisonment, Ferdinand Porsches son, Ferry Porsche, decided to build his own car, because he could not find an existing one that he wanted to buy. He also had to steer the company through some of its most difficult days until his fathers release in August 1947, the first models of what was to become the 356 were built in a small sawmill in Gmünd, Austria. The prototype car was shown to German auto dealers, and when pre-orders reached a set threshold, production was begun by Porsche Konstruktionen GesmbH founded by Ferry, many regard the 356 as the first Porsche simply because it was the first model sold by the fledgling company. After the production of 356 was taken over by the fathers Dr. Ing. h. c. In 1952, Porsche constructed a plant across the street from Reutter Karosserie, the main road in front of Werk 1. The 356 was road certified in 1948, Porsches company logo was based on the coat of arms of the Free Peoples State of Württemberg of former Weimar Germany, which had Stuttgart as its capital. The arms of Stuttgart was placed in the middle as an inescutcheon, on 30 January 1951, not long before the creation of Baden-Württemberg, Ferdinand Porsche died from complications following a stroke. The 356, however, had several stages, A, B, and C, while in production
9.
International Standard Book Number
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The International Standard Book Number is a unique numeric commercial book identifier. An ISBN is assigned to each edition and variation of a book, for example, an e-book, a paperback and a hardcover edition of the same book would each have a different ISBN. The ISBN is 13 digits long if assigned on or after 1 January 2007, the method of assigning an ISBN is nation-based and varies from country to country, often depending on how large the publishing industry is within a country. The initial ISBN configuration of recognition was generated in 1967 based upon the 9-digit Standard Book Numbering created in 1966, the 10-digit ISBN format was developed by the International Organization for Standardization and was published in 1970 as international standard ISO2108. Occasionally, a book may appear without a printed ISBN if it is printed privately or the author does not follow the usual ISBN procedure, however, this can be rectified later. Another identifier, the International Standard Serial Number, identifies periodical publications such as magazines, the ISBN configuration of recognition was generated in 1967 in the United Kingdom by David Whitaker and in 1968 in the US by Emery Koltay. The 10-digit ISBN format was developed by the International Organization for Standardization and was published in 1970 as international standard ISO2108, the United Kingdom continued to use the 9-digit SBN code until 1974. The ISO on-line facility only refers back to 1978, an SBN may be converted to an ISBN by prefixing the digit 0. For example, the edition of Mr. J. G. Reeder Returns, published by Hodder in 1965, has SBN340013818 -340 indicating the publisher,01381 their serial number. This can be converted to ISBN 0-340-01381-8, the check digit does not need to be re-calculated, since 1 January 2007, ISBNs have contained 13 digits, a format that is compatible with Bookland European Article Number EAN-13s. An ISBN is assigned to each edition and variation of a book, for example, an ebook, a paperback, and a hardcover edition of the same book would each have a different ISBN. The ISBN is 13 digits long if assigned on or after 1 January 2007, a 13-digit ISBN can be separated into its parts, and when this is done it is customary to separate the parts with hyphens or spaces. Separating the parts of a 10-digit ISBN is also done with either hyphens or spaces, figuring out how to correctly separate a given ISBN number is complicated, because most of the parts do not use a fixed number of digits. ISBN issuance is country-specific, in that ISBNs are issued by the ISBN registration agency that is responsible for country or territory regardless of the publication language. Some ISBN registration agencies are based in national libraries or within ministries of culture, in other cases, the ISBN registration service is provided by organisations such as bibliographic data providers that are not government funded. In Canada, ISBNs are issued at no cost with the purpose of encouraging Canadian culture. In the United Kingdom, United States, and some countries, where the service is provided by non-government-funded organisations. Australia, ISBNs are issued by the library services agency Thorpe-Bowker
