You probably think of Volkswagen as a company that sells cars. However, now it looks like it will be buying them, too.
It is all part of Volkswagen's emissions cheating scandal. VW goes before a judge in San Francisco Thursday, and it is expected to say that it will agree to offer to buy back half a million 2-liter diesel VW Jetta and Golf and Audi A3 models in the United States.
Those who want to can keep the cars and have them fixed. Both keepers and sellers will also get cash compensation. Earlier Wednesday, a German newspaper said it would be $5,000 per customer, but sources briefed on the deal tell Automotive News no decisions on individual compensation have been made.
Regardless, the compensation on top of the buyback is expected to total at least $1 billion, and VW still will not be done. There is likely to be an environmental remediation fund the carmaker will have to pay into for the excess pollution their supposedly "Clean Diesel" cars have been putting out since 2009.
NewsRadio KFBK's Mike Hagerty is a native Californian. Born in Los Angeles, raised from age nine in the Eastern High Sierra, Mike's broadcasting career began at age 15 in Bishop, and took him to San Luis Obispo, Ukiah, and then out of state to Reno, Las Vegas and Phoenix before coming back home.Since arriving at KFBK in late 2013, Mike has been Editor of the KFBK Morning News, Managing Editor, Assistant News Director and is now News Director, in addition to being a part of the KFBK Afternoon News with Kitty O'Neal.
"My mom and dad lived in Sacramento for many years before moving to L.A., and had a lot of friends here that we'd come back to visit. As a kid, I'd spend a week of most summers here in Sacramento. I grew up on movies at the Crest and ice cream at Gunther's and Vic's. Because of that, Sacramento feels like home."
In addition to covering every presidential election since 1980, the 1992 Los Angeles riots, the 1994 Northridge earthquake and the O.J. Simpson trial, Mike has been an automotive journalist for almost 20 years, reviewing new cars on radio, TV and online, and is a member of Western Automotive Journalists in the Bay Area.
"The fascination with cars is genetic, I think. My dad loved them so much, he bought a gas station when he lived here in Sacramento, just so he could be around cars all day. "
Mike and his wife Rhonda (also a native Californian, and a 34-year resident of the Sacramento area) live in Folsom with their two miniature Schnauzers. Between them, they have four grown children. Mike and Rhonda are avid travelers and love the outdoors, movies, live theater and musical performances and great Northern California food and wine and locally-brewed beer.