Some notes<p>* The talk starts at about 00:15:00 into the video at the start of the link.  The link starts at the end of the previous talk, with a bunch of dead space before the talk about VW.<p>* lax testing procedures from govt certification engineers is as much to blame as VW. I&#x27;d like to understand more about this...<p>* On the &quot;ROCE&quot; slide I thought of the [capitalist&#x27;s dilemma](<a href="http:&#x2F;&#x2F;www.nytimes.com&#x2F;2012&#x2F;11&#x2F;04&#x2F;business&#x2F;a-capitalists-dilemma-whoever-becomes-president.html?_r=0" rel="nofollow">http:&#x2F;&#x2F;www.nytimes.com&#x2F;2012&#x2F;11&#x2F;04&#x2F;business&#x2F;a-capitalists-dil...</a>). Market dynamics are pushing car makers to wring every last bit of money out of each car, which leads to odd dynamics.<p>* The comparison between the US and Europe at about 45:00 is very interesting.