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Keyword: porsche

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  • With TDI toxic, VW customers are moving on

    06/22/2016 10:11:25 AM PDT · by Wally_Kalbacken · 53 replies
    Autoweek, via Automotive News ^ | 6/20/2016 | Ryan Beene
    Dennis Gaudet has had some loyal VW customers. One of them bought his past four vehicles from Gaudet’s Volkswagen store, part of the AutoServ Dealer Group in Tilton, N.H., and had been back to the VW dealership three times since the diesel scandal erupted in September for guidance on what to do with his diesel vehicle as trade-in time approached. Each time, Gaudet says, his dealership told the customer to hang tight until more was known. “He didn’t show up a fourth time,” Gaudet said. “I happened to run into him, and he was driving a Honda.” Read more:

    05/10/2016 4:41:31 PM PDT · by MtnClimber · 39 replies
    Motor Trend ^ | 9 May, 2016 | Stefan Ogbac
    Porsche unveiled a new V-8 engine at the 37th Vienna Motor Symposium that will eventually power the range-topping variants of the upcoming second-generation Panamera and the next Cayenne SUV. In addition to powering the larger vehicles in Porsche’s lineup, the new V-8 will also be used by other Volkswagen Group brands including Audi and Bentley. Featuring two twin-scroll turbochargers, the new 4.0-liter V-8 is rated at 550 hp and 568 lb-ft of torque (up from 520 hp and 516 lb-ft), which puts it just shy of the current 4.8-liter twin-turbo V-8 utilized in the 570-hp Porsche Panamera Turbo S. Despite...
  • Volkswagen faces billions in penalties as U.S. sues for environment violations

    01/04/2016 1:26:58 PM PST · by Citizen Zed · 30 replies
    Reuters ^ | 1-4-2016 | JULIA EDWARDS AND JOEL SCHECTMAN
    The U.S. Justice Department on Monday filed a civil lawsuit against Volkswagen AG for allegedly violating the Clean Air Act by installing illegal devices to impair emission control systems in nearly 600,000 vehicles. The allegations against Volkswagen, along with its Audi and Porsche units, carry penalties that could cost the automaker billions of dollars, a senior Justice Department official said. VW could face fines in theory exceeding $90 billion - or as much as $37,500 per vehicle per violation of the law, based on the complaint. In September, government regulators initially said VW could face fines in excess of $18...
  • 1955 Porsche 356 Speedster Barn Find Lands on eBay, but You Won’t Like the Price

    12/04/2015 12:06:32 AM PST · by Daffynition · 38 replies
    Autoevolution ^ | 2 December 2015 | staff
    While most car aficionados populate their dreams with barn finds, some people are lucky and/or determined enough to turn such dreams into reality. On many occasions, such discoveries result in eBay ads that make potential buyers cringe, and we want to show you the latest example of this, one that has a strong Porsche flavor.
  • Volkswagen Emissions Probe Zeroes In on Two Engineers

    10/05/2015 12:23:46 AM PDT · by Brad from Tennessee · 51 replies
    Wall Street Journal ^ | October 4, 2015 | By William Boston
    WOLFSBURG, Germany—Two top Volkswagen engineers who found they couldn’t deliver as promised a clean diesel engine for the U.S. market are at the center of a company probe into the installation of engine software designed to fool regulators, according to people familiar with the matter. The two men, Ulrich Hackenberg, Audi ’s chief engineer, and Wolfgang Hatz, developer of Porsche’s winning Formula One engines, were among the engineers suspended in the investigation of the emissions cheating scandal that sank the company’s market value by 43% since Sept. 18 and triggered a world-wide recall to refit the engines to meet clear-air...
  • Rapper Chinx, real name Lionel Pickens, killed in drive-by shooting as he drove Porsche in Queens

    05/17/2015 8:26:20 AM PDT · by PROCON · 54 replies ^ | May 17, 2015 | Ryan Sit , Caitlin Nolan
    A rapper was shot multiple times and killed and his passenger was critically wounded as he drove a Porsche down a Queens boulevard early Sunday, a police source said. Lionel Pickens, who goes by the stage name Chinx, was shot several times in the body and his 27-year-old passenger was hit twice in the back about 4 a.m. as they traveled on Queens Blvd. at 84th Dr. in Briarwood, cops said.
  • For first time, Sistine Chapel to be rented out for corporate event

    10/17/2014 1:11:56 PM PDT · by NYer · 158 replies
    The Deacon's Bench ^ | October 16, 2014 | Deacon Greg Kandra
    >Details: Pope Francis has for the first time allowed the Sistine Chapel to be rented out for a private corporate event, with the proceeds to go to charities working with the poor and homeless. The concert, to be performed amid the splendour of Michelangelo’s frescoes on Saturday, will be attended by a select group of about 40 high-paying tourists who have signed up to an exclusive tour of Italy organised by Porsche. But as the unprecedented deal was announced, the Vatican announced that it would limit the number of visitors allowed inside the chapel to the current total of six...
  • Missing For 112 Years, First Porsche Is Found In Warehouse

    01/29/2014 6:05:33 PM PST · by nickcarraway · 26 replies
    NPR ^ | January 29, 2014 | Mark Memmott
    Even the famed German automaker concedes that it "may resemble an old horse-drawn carriage." But the recently rediscovered "first Porsche in the world" — dubbed the P1 — was a technological marvel for its time. It "included a compact electric drive weighing 286 pounds," writes the automotive news site Jalopnik, and could chug along at 22 mph. The car was found, according to Porsche, in an Austrian warehouse where it had apparently been left untouched since 1902. As for the car's history, according to Porsche: "The owner of 'K.K. Hofwagenfabrik Jacob Lohner & Comp.' had a wide range of interests,...
  • Paul Walker Died in 'Most Dangerous Car on the Road'

    12/03/2013 9:31:33 AM PST · by Responsibility2nd · 93 replies
    Newser ^ | 12/03/2013 | By Evann Gastaldo
    Even professional drivers are wary of Porsche Carrera GT (Newser) – Paul Walker died in a Porsche Carrera GT, a car that a former manager at the car company has called "crazy" and "the most dangerous car on the road," Jalopnik reports. And that's not the only eerie quote the site rounded up: A well-known Porsche test driver said the car was the first to actually scare him, and a Top Gear presenter noted, "You need to be awake to drive this car fast." It's been involved in a number of other headline-making incidents, including a fatal crash at...
  • Paul Walker Dead -- 'Fast and The Furious' Star Dies in Fiery Car Crash

    11/30/2013 10:02:24 PM PST · by Morgana · 76 replies
    TMZ ^ | Staff
    Paul Walker -- best known for his role in "The Fast and the Furious" movies -- died Saturday afternoon after a single-car accident and explosion in Southern California ... TMZ has learned. The accident happened in Santa Clarita -- north of Los Angeles -- and according to multiple sources connected to Paul ... the actor was in a Porsche when the driver somehow lost control and slammed into a post or a tree ... and then the car burst into flames. Several of our sources -- some who are still at the scene of the accident -- tell us Paul...
  • Twenty-two Billionaires Already Purchase Units at Porsche Design Towers

    10/18/2013 6:17:38 PM PDT · by FlJoePa · 51 replies
    I Adore Miami ^ | 10-16-13 | n/a
    October 16, 2013 A ground-breaking, new high-luxury residential tower, emblematic of contemporary and revolutionary architectural design, is showing signs of being the most anticipated project in the history of Miami Luxury Real Estate. The Porsche Design Towers, slated for erection sometime in 2016 on 2.2 acres of beachfront property along Collins Ave in Sunny Isles, will be one of the world’s first residential condominiums to have large glass elevators that transport residents-while still inside their cars- to their apartments. As residents arrive at the building and switch off their engines, an automatic platform will extend, scooping up the car and...
  • Porsche goes green with £540,000 hybrid supercar

    09/10/2013 4:53:54 AM PDT · by markomalley · 30 replies
    The Telegraph ^ | 9/10/2013
    The 918 Spyder hybrid was unveiled by Porsche at Frankfurt's International Auto Show yesterday. The car has a top speed of 198 miles per hour and can go from 0 to 62 miles per hour in less than three seconds, but crucially, does 72 miles to the gallon - more than the 50 miles per gallon achieved by the popular Toyota Prius hybrid. However, at $845,000 (£540,000) compared to the Prius's £22,000, one would have to drive 1.85m miles for the Porsche to work out as better value. Demand for luxury cars has held up despite a wider slump...
  • Movie for a Sunday afternoon: "Le Mans"(1971)

    08/11/2013 12:28:54 PM PDT · by ReformationFan · 20 replies
    You Tube ^ | 1971 | Lee H. Katzin
  • Citing flight risk, judge sets bond for Porsche driver charged with 2 DUI manslaughter deaths

    07/04/2013 6:25:47 AM PDT · by ConservativeStatement · 23 replies
    South Florida Sun-Sentinel ^ | July 4, 2013 | Erika Pesantes and David Fleshler
    When she fatally struck two men in Fort Lauderdale with her mother's Porsche, Alyza Rachel Russell had a blood alcohol level of more than twice the legal limit, police say. At a hearing Wednesday, a Broward judge set the 22-year-old's bond at $450,000, after a prosecutor said she had told a co-worker she planned to flee to Europe. Russell, who works at a South Florida dental equipment repair company, holds dual U.S. and British citizenship. Assistant State Attorney Eric Linder called her a flight risk, saying she had reapplied for a passport with the British consulate, appeared to have paid...
  • Porsche picks Maria Sharapova as brand ambassador

    04/24/2013 4:10:31 PM PDT · by nascarnation · 31 replies
    Autoblog ^ | 4/23/2013 | Michael Harley
    Russian-born tennis superstar Maria Sharapova has just inked a three-year deal with Porsche to be its brand ambassador, a position that will put her on a global campaign for the German automaker. The 26-year-old athlete isn't new to the role – she previously signed a similar three-year deal with Land Rover in 2006. "Maria Sharapova is an exceptional athlete. She combines top performance in her sports with elegance and power. These are precisely the qualities that are embroiled in our sports cars," explained Matthias Mueller, CEO of Porsche AG, during the announcement. "Her profile and charisma are an ideal fit...
  • There are more Porsches in Greece than taxpayers declaring 50,000 euro incomes (abridged title)

    11/21/2011 12:57:06 PM PST · by Skeez · 17 replies · 1+ views ^ | 10/31/2011 | Ian Cowie
    Jubilation about the German deal to save the euro could prove short-lived if fresh news of Greek tax evasion gains wider currency. There are more Porsche Cayennes registered in Greece than taxpayers declaring an income of 50,000 euros (£43,800) or more, according to research by Professor Herakles Polemarchakis, former head of the Greek prime minister’s economic department. While German car workers may take pride in this evidence of their export success, German taxpayers may be less keen to bail out a nation whose population appears to take such a cavalier approach to paying its fiscal dues. Never mind all that...
  • A bride's welded bliss: How she built Porsche from wrecked VW for her big day

    09/15/2011 1:05:50 AM PDT · by rawhide · 25 replies · 2+ views ^ | 9-15-11 | Sadie Whitelocks
    For Megan Ashton, it was her childhood dream to arrive at her wedding in a classic Porsche. Now the 26-year-old has done exactly that – not by hiring one, as any bride might, but by building her own from a clapped-out Volkswagen Beetle. She spent six years painstakingly transforming the 40-year-old VW into a Porsche 356, the company’s first production model. The Royal Navy engineering officer paid £200 for the wreck before stripping it down to the chassis and meticulously rebuilding it virtually from scratch, donning blue overalls, getting covered in grime and grease, and spending £4,000 in the process....
  • Ryan Dunn Fatal Crash - Can Porsche be sued?

    06/22/2011 9:36:27 PM PDT · by BraveMan · 62 replies
    IBTimes New York ^ | June 22, 2011 11:47 PM EDT | Unattributed
    -snip- The question here, obviously, is - who is responsible for the accident? Some can claim that Porsche should not make its car to speed up that much. Porsche 911 GT3, the car he drove during his fatal crash on Monday, was capable of hitting speeds around 190 miles per hour. Porsche is known to be the car James Dean loved, and eventually drove to death - Dean was driving Porsche 550 Spyder when the fatal accident occurred, killing the American film hero on September 30, 1955. -snip-
  • Porsche 918 hybrid: Order now for $845,000

    03/22/2011 6:29:45 PM PDT · by xp38 · 50 replies
    CNN MONEY ^ | March 21 2011 | Peter Valdes-Dapena
    NEW YORK (CNNMoney) -- Porsche is now taking orders for the German carmaker's first publicly available hybrid sports car, the 918 Spyder. Unveiled as a concept car one year ago at the Geneva Motor Show, the 918 Spyder is a plug-in hybrid car powered by a 500-horsepower V8 gasoline engine and two electric motors -- one each in the front and rear axles -- that will produce at least 218 horsepower more, Porsche promises.
  • Porsche 911GT2 RS == 0-60 in 3.4 secs.

    03/01/2011 5:27:20 PM PST · by Loud Mime · 33 replies
    Top Speed Car Reviews ^ | 12/02/2010 | Simona - blogger
    "Let the drooling begin! Porsche unveiled today the official details on the most powerful street-legal model they have ever built. Limited to only 500 units, the new 911 GT2 RS will go on sale in USA starting this October so potential buyers may want to start standing in line now. Prices will start at 199,500 euro (or $253,000 at the current rates). The new GT2 RS is a more powerful and lighter model compared to a standard GT2. Porsche managed to reduce the weight by 154 lb and upgrade the engine’s output with 90 HP (for a total of 620...
  • North Miami mayor returns Porsche (RAT Andre Pierre can't recall where the bribe came from)

    10/19/2010 10:25:43 AM PDT · by Libloather · 16 replies
    Miami Herald ^ | 10/17/10 | NADEGE CHARLES
    North Miami mayor returns PorscheMayor Andre Pierre says the Porsche he was driving earlier this year was lent to him -- but he never reported the loan and there are conflicting memories of who did the lending. BY NADEGE CHARLES Posted on Sunday, 10.17.10 For a few weeks over the summer, the mayor of North Miami was riding in style on the streets of a city that had been pinched hard by the recession. The dark blue, four-door 2010 Porsche Panamera that sat in Mayor Andre Pierre's city parking spot has a sticker price of $100,000. And if the mayor...
  • The World's Most Beautiful Cars (according to some folks Forbes talked to)

    07/18/2010 1:01:02 AM PDT · by DemforBush · 29 replies · 3+ views ^ | 7/7/10 | Hannah Elliot
    Looks aren't everything. Given a rainy day on a pock-marked street, even a luxury roadster will look and feel less than stellar. But when it comes to attracting attention on a showroom floor, appearance does matter--a lot. Take, for instance, the case of Jaguar's new XJ sedan...
  • Porsche Showcases Gorgeous 78 MPG 918 Spyder Plug-in Hybrid Concept [720 hp, 3.2s 0-60]

    03/01/2010 2:20:07 PM PST · by wolf78 · 45 replies · 1,867+ views
    DailyTech ^ | March 1, 2010 | Brandon Hill
    Porsche unveiled its new 918 Spyder concept that not only brings sleek styling to the table, but also a wealth of high-tech powertrain goodness. Looking somewhat like a gorgeous mashup up of a Ferrari F430, Porsche Carrera GT, Porsche Boxster, and Porsche 911 GT1, the 918 Spyder concept features a mid-engine layout, seating for two people, and all-wheel drive. The roadster also features dual side-exiting exhaust pipes on either side of the vehicle along with a nod to the past with an intriguing "disk" wheel design. Being that this is a Porsche first and foremost, this vehicle is all about...
  • Volkswagen Steals Toyota's Crown as World's Largest Automaker

    11/11/2009 10:23:59 PM PST · by kingattax · 18 replies · 838+ views
    US News & World Report/Yahoo ^ | 11-12-09 | Sean Tucker
    The people want an empire, apparently, with that unassuming little black VW bug at the head of it. The U.K.’s Guardian explains, "Volkswagen-Porsche has overtaken Toyota to become the world's largest car manufacturer as the German group benefits from state-backed stimulus packages around the globe." VW has "produced 4.4 million vehicles so far this year, outstripping its Japanese rival which has seen four million cars roll off production lines since January." Ironically, VW reached the milestone in part by taking over Porsche – which it was forced to do after Porsche failed in an attempt to take over VW earlier...
  • Porsche raided on insider trading suspicions

    08/22/2009 5:21:38 AM PDT · by xsrdx · 6 replies · 1,207+ views
    Newsweek ^ | 21 AUG 09 | Stefan Theil
    Porsche heaquarters was raided by German investigators Thursday due to suspicions of insider trading by former CEO Wendelin Wiedeking, who was ousted last month following an epic takeover battle in which the luxury carmaker almost swallowed Volkswagen─Europe's largest carmaker, which is more than 10 times Porsche's size─before VW turned the tables. It is now set to gobble up Porsche instead. In trying to buy up Volkswagen, Wiedeking had accumulated 43 percent of VW's shares but secretly held options on another 32 percent. Porsche did not disclose the options until October 2008, roiling the markets. The company said yesterday that the...
  • Triumph for VW in Porsche battle

    07/23/2009 10:20:34 PM PDT · by bruinbirdman · 1 replies · 373+ views
    The Financial Times ^ | 7/23/2009 | Daniel Schäfer in Frankfurt
    Porsche’s family owners on Thursday ended months of feuding over a rescue of Germany’s debt-ridden sports carmarker by agreeing a merger with Volkswagen and ousting its chief executive Wendelin Wiedeking with a huge €50m pay-off. The merger, which is planned for 2011, would bring Porsche under the umbrella of Europe’s biggest car and truck empire, where it would join other famous marques including Audi, Bugatti and Bentley. But the terms of Mr Wiedeking’s payoff, one of the biggest ever in Germany, reignited a fierce public row over executive pay in the country, which is heading towards a general election in...
  • VW plans merger with Porsche (Article Doesn't Mention Once How Their Founder Designed the Bug)

    07/23/2009 12:24:34 PM PDT · by Pyro7480 · 29 replies · 1,113+ views
    Yahoo! News (AP) ^ | 07/23/2009 | Oliver Scmale and Matt Moore
    The best thing Volkswagen AG can do when it carries through its proposed merger with Porsche is this: Leave Porsche alone and reap the revenue from a glossy brand with loyal, rich customers, analysts say. Having emerged Thursday atop a power struggle among members of the Piech and Porsche families — who control Porsche Autombil Holding SE — and cost Wendelin Wiedeking his job as chief executive, Volkswagen is left to gather the spoils, namely the marquee Porsche name that will soon be counted with Audi, Bentley and Lamborghini, already among its stable of luxury brands. "I don't think Volkswagen...
  • Porsche on the financial brink

    05/25/2009 5:21:46 PM PDT · by bruinbirdman · 80 replies · 2,404+ views
    The Telegraph ^ | 5/25/2009 | Ambrose Evans-Pritchard
    German car maker Porsche is struggling to raise €1.75bn (£1.54bn) to cover debts and unwind derivative positions stemming from its botched attempt to take over vastly-bigger Volkswagen. Porsche's shares fell 3.1pc in Frankfurt on Monday after it emerged that the company had obtained a €700m loan from Volkswagen as long ago as March. A Porsche spokesman said the group is negotiating bridging finance with a variety of banks, including the state lender KfW. It is understood that Porsche is also in talks with the Bank of Tokyo for a €750m loan, and is seeking help from the regional government of...
  • Clarkson Thriller - Rocket Enabled Porsche 944 Turbo (Hilarious Video)

    05/13/2009 1:26:56 PM PDT · by Reaganesque · 14 replies · 1,512+ views
    YouTube ^ | 12/06/08 | Jeremy Clarkson
    An earlier thread posted another video of Mr. Clarkson shooting up cars skeet style. I love that video and decided to watch some other videos from "Top Gear's" Jeremy Clarkson. I now have a new personal favorite... Mr. Clarkson outfits a Porsche 944 Turbo with rocket launching tubes and goes hunting for traffic cams, signs and traffic cops. Too funny! Click here for the video.
  • Porsche and VW agree merger

    05/07/2009 1:11:05 AM PDT · by bruinbirdman · 12 replies · 974+ views
    The Financial Times ^ | 5/7/2009 | Daniel Schäfer in Frankfurt
    Volkswagen and Porsche announced plans to merge on Wednesday in a move that would relieve the sports carmaker from its debt burden and bring the 3½-year takeover saga surrounding Europe’s largest carmaker to an end. After a meeting of the Porsche family owners and VW and Porsche executives in Salzburg, the family clan agreed to create an “integrated car-manufacturing group” with 10 marques united under one roof. The move would in effect set Porsche aside from the nine existing brands of the VW group and bring the sports carmaker’s hopes of a domination of Europe’s largest carmaker to an end....
  • Luxury Cars Targets Of Meltdown Rage[Coming Soon To A Dealership Near You]

    02/28/2009 6:25:36 PM PST · by Steelfish · 19 replies · 1,849+ views
    Times of India ^ | February 28, 2009
    Luxury cars targets of meltdown rage 1 Mar 2009 When Berlin resident Simone Klostermann returned from vacation and couldn’t find her Mercedes SLK, she thought it had been towed. Police told her the $45,000 car had been torched. “They’d squirted something flammable into the car’s engine block in the gap between the windshield and the hood,” said Klostermann. The 34-year-old’s experience isn’t unique in the German capital. At least 29 vehicles were destroyed in arson attacks this year, most of them luxury cars, according to police. The number is already about 30% of the total for 2008. The latest to...
  • How Porsche hacked the financial system and made a killing

    01/26/2009 1:31:37 PM PST · by the_devils_advocate_666 · 4 replies · 576+ views
    Ivan Krstić ^ | January 7, 2009 | Ivan Krstić
    Adolf Merckle, one of the world’s richest men, committed suicide yesterday by throwing himself under a train, Bloomberg reports. Financial difficulties, and particularly great losses he suffered on Volkswagen stock, are being cited as the key reason he ended his life: [Merckle's company] VEM was caught in a so-called short squeeze after betting Wolfsburg, Germany-based Volkswagen’s stock would fall. Merckle lost at least 500 million euros on the bets on VW stock, people familiar said on Nov. 18. VEM lost “low three-digit million euros” on VW stock, the company said in November. A “short squeeze” sounds inconspicuous enough; you wouldn’t...
  • India getting Porsche Cayenne Diesel

    01/06/2009 12:18:39 PM PST · by Red Badger · 15 replies · 1,495+ views ^ | 01-06-2009 | Staff
    Porsche just launched its first modern diesel engine in the Cayenne sport utility vehicle, and the German automaker said when it was first introduced that it was planning on bringing the model to other markets. Considering that the Cayenne is Porsche's best-selling vehicle in India, it's not all that surprising that the oil-burner is slated for an Indian introduction in short order. Even better, according to Car Trade India, "a diesel version of this popular SUV is expected to sell like a hot cake." That sounds good, right? Currently, Cayenne diesels are produced at Porsche's Leipzig factory, and this is...
  • German tycoon Adolf Merckle commits suicide (lost 400m Euros from VW debacle)

    01/06/2009 8:26:55 AM PST · by TigerLikesRooster · 44 replies · 1,765+ views
    Reuters ^ | 01/06/09
    German tycoon Adolf Merckle commits suicide 25 mins ago FRANKFURT (Reuters) – German billionaire Adolf Merckle, assailed by financial turmoil and struggling to salvage his business empire, has killed himself, his family said on Tuesday. "The desperate situation of his companies caused by the financial crisis, the uncertainties of the last few weeks and his powerlessness to act, have broken the passionate family entrepreneur and he took his own life," a family statement said. Prosecutors in the southern German town of Ulm, near Merckle's home, said the 74-year-old died when a train struck him late on Monday. There was no...
  • Hedge funds fear bankruptcy after Porsche squeeze(Deutsche Bank also hit hard)

    10/29/2008 10:20:15 PM PDT · by TigerLikesRooster · 17 replies · 957+ views
    Times of London ^ | 10/30/08 | Helen Power, Tom Bawden and Christine Seib
    Hedge funds fear bankruptcy after Porsche squeeze Helen Power, Tom Bawden and Christine Seib Hedge funds were heading for a full-blown row with the German Government last night as it emerged that funds sitting on tens of billions of euro losses after short-selling Volkswagen could go bankrupt. Porsche, VW's biggest shareholder, stands to pocket a quick €6billion (£4.7billion) profit from the short-selling. The London-based Alternative Investment Management Association (Aima), the hedge fund trade body, said yesterday that it planned to ask the European Union to clamp down on a controversial German legal loophole that allowed Porsche secretly to take its...
  • Porsche to sell some VW shares to meet short demand(GS screwed by Porsche?)

    10/29/2008 7:09:03 AM PDT · by TigerLikesRooster · 6 replies · 560+ views
    Market Watch ^ | 10/29/08 | Steve Goldstein
    Porsche to sell some VW shares to meet short demand By Steve Goldstein, MarketWatch Last update: 6:43 a.m. EDT Oct. 29, 2008 LONDON (MarketWatch) -- Porsche Automobil Holding on Wednesday said it would sell up to 5% of its stake in Volkswagen AG to meet unprecedented demand for the Wolfsburg automaker's stock after arguably the biggest short squeeze in stock-market history. The move's designed "to avoid further market distortions and the resulting consequences for those involved," Porsche (DE:PAH003: news, chart, profile) said -- but laid the blame for this week's massive rise in VW shares squarely with the short sellers...
  • VW briefly world top company as shortsellers caught

    10/28/2008 5:31:54 AM PDT · by truthfreedom · 23 replies · 718+ views
    Reuters ^ | 10/28/08 | Sarah Marsh
    FRANKFURT, 28 Oct (Reuters) - Volkswagen (VOWG.DE: Quote, Profile, Research, Stock Buzz) briefly became the world's biggest company by market value on Tuesday, as short sellers continued to pile into the stock on weekend news Porsche had bought up much of VW's remaining free float. Shares in the German car maker hit an intraday high of 1,005.01 euros, valuing the company at 296.06 billion euros ($370.4 billion) based on ordinary stock, more than that of worl'd number one company Exxon Mobil Corp's (XOM.N: Quote, Profile, Research, Stock Buzz) $343 billion market value at Monday's closing price. for the rest
  • Hedge funds hit as Porsche moves on VW

    10/27/2008 9:25:23 PM PDT · by bruinbirdman · 13 replies · 1,009+ views
    The Financial Times ^ | 10/27/2008 | Richard Milne in London
    Volkswagen’s shares more than doubled on Monday after Porsche moved to cement its control of Europe’s biggest carmaker and hedge funds, rushing to cover short positions, were forced to buy stock from a shrinking pool of shares in free float. VW shares rose 147 per cent after Porsche unexpectedly disclosed that through the use of derivatives it had increased its stake in VW from 35 to 74.1 per cent, sparking outcry among investors, analysts and corporate governance experts. Max Warburton, analyst at Sanford Bernstein, said it had brought the German market into disrepute. “It is a huge question for regulators...
  • Stockholm - the most driveable city on Earth

    09/21/2008 4:40:14 PM PDT · by WesternCulture · 7 replies · 278+ views
    Porsches and Stockholm constitute a love affair.
  • Driver Dead After Porsche Falls From 101 Fwy

    08/30/2008 10:56:16 AM PDT · by BenLurkin · 47 replies · 9,029+ views
    WOODLAND HILLS A motorist died in a speeding Porsche that came off the Ventura (101) Freeway, overturned and burst into flames on Burbank Boulevard Saturday, a California Highway Patrol officer said. A lime-green 2008 Porsche veered off the westbound side of the freeway near Shoup Avenue and came to rest against a parking structure in the 22100 block of Burbank just after 2:30 a.m., according to CHP Officer Francisco Villalobos and a CHP sergeant who spoke to a Newsreel camera crew at the scene. The Porsche took at least a 30-foot drop, and cleared a six-foot chain link fence before...
  • Porsche deal with VW paves way for German auto industry giant

    03/04/2008 12:53:59 AM PST · by bruinbirdman · 9 replies · 96+ views
    The Times ^ | 3/4/2008 | Roger Boyes in Berlin
    Porsche approved plans to take a majority stake in Volkswagen (VW) yesterday as part of a massive shake-up of the European car industry. Earlier yesterday, Volkswagen, which already owns Audi, Skoda, Seat, Bentley, Bugatti and Lamborghini, took over Scania, the Swedish lorry firm. The Porsche supervisory board approved a plan to boost Porsche's 30.9 per cent stake in VW, already Europe's largest car manufacturer, by a further 20percent. “Our aim is to create one of the strongest and most innovative automobile alliances in the world, able to measure up to the increased international competition,” Wendelin Wiedeking, chief executive of Porsche,...
  • I did not know about brothels or slush fund, Volkswagen boss tells court

    01/11/2008 7:08:57 AM PST · by Dutchgirl · 16 replies · 151+ views
    Timesonline ^ | January 10, 2008 | Roger Boyes
    Ferdinand Piëch, the former head of Volkswagen who is known as the patriarch of the German motor industry, denied knowledge yesterday of a company slush fund to pay for prostitutes and mistresses of company workers, in a trial that has called into question the national system of labour relations. Mr Piëch, who is at the heart of Porsche’s current takeover of Volkswagen, said that no one had reported to him the tales of sex and sleaze haunting Europe’s largest car manufacturer. The 70-year-old entrepreneur was testifying at the trial of two senior employees accused of defrauding the German company. The...
  • Porsche 911 GT3 / GT3 RS Pictures

    08/14/2007 9:32:30 AM PDT · by DTAD · 5 replies · 484+ views
    Some High Resolution Wallpapers & Pictures of the Porsche 911 GT3 / GT3 RS vehicles The 911 GT3 is created for the driving enthusiast who craves track days but who also demands such a capable car on regular roads. The 911 GT3 is propelled by the most powerful normally aspirated engine ever offered in a Porsche 911 in the North American market, a 3.6-liter powerplant that pumps out 415 horsepower – an astounding 115.3 horsepower per liter – and rockets the GT3 to 60 mph in an amazingly quick 4.1 seconds (0-100 km/h in 4.3 seconds).
  • Report: Volkswagen Changing Strategy for Hybrids (DIESEL!)

    01/31/2007 9:21:09 AM PST · by Red Badger · 52 replies · 1,740+ views ^ | 01/31/2007 | Staff
    Germany’s Automobilewoche reports that with the change in Volkswagen’s top management is coming a change in strategy for hybrids. Martin Winterkorn, who formerly headed the company’s Audi AG unit, became CEO after Bernd Pischetsrieder resigned at the end of 2006. Pischetsrieder had brought in Wolfgang Bernhard from DaimlerChrysler to run the Volkswagen unit. Berhard has now left (as of today), and Winterkorn will personally oversee the VW brand for the time being. Now, rather than target a mild hybrid Jetta for sale into the California market in 2008 as described by Pischetsrieder, Volkswagen will focus first on a full hybrid...
  • Porsche chief's disdain for America

    10/11/2006 4:15:03 AM PDT · by Renfield · 203 replies · 3,720+ views
    The American Thinker ^ | 10-11-06 | Thomas Lifson
    Davids Medienkritik discovered deep condescension toward America from a German executive whose company makes most of its money here. Porsche CEO Wendelin Wiedeking defends the German “social model” of capitalism, and implies that we Americans are barely out of the backwoods with our rifles. Europe’s culture is decidedly older than that of the USA. The Fuggers were doing business, while hunting was still the order of the day in America. Right now 37 million people in the USA live below the poverty line. The gulf between poor and rich has widened brutally. Do we want to have a situation like...
  • Fox's joke on fan just plain mean [Foxsports tricks fans with toy car]

    09/06/2006 6:01:21 AM PDT · by TaxRelief · 58 replies · 2,652+ views
    The Charlotte Observer ^ | September 6, 2006 | Scott Fowler
    (snip) With just under two minutes to go in the Panthers-Miami Dolphins exhibition, Good was under the impression Fox Sports was about to give him a new car. The network's announcing team had promoted the free car giveaway on air at the end of the third quarter. Instead, sideline reporter Tony Siragusa handed Good a toy car. Good, believing the toy was a symbol for the real thing, said on-camera to Siragusa: "Thank you! Thank you very, very, very much -- it's a blessing and a prayer answered!" But Fox Sports was playing a joke. And it wasn't funny. It...
  • California Highway Patrol Orders 200 Porsche Boxsters

    07/05/2006 2:35:43 PM PDT · by radar101 · 33 replies · 12,299+ views
    Jalopnik ^ | 28 JUNE 2006 | Jalopnik
    The California Highway Patrol is weaning itself off its fleet of now-discontinued Chevrolet Camaro pursuit cars, switching to new Porsche 987 Boxsters. As a spokesman for the CHP bizarrely put it, “The Camaros were at the end of their useful life, and were never able to be used fully given that CHP officers are prohibited from wearing mullets while on duty.” (Apparently, droll humor isn’t unlearned during baton-fighting exersizes.) An initial order for 200 Porsche Boxsters will be fulfilled by the end of 2005(6), with the majority of units being placed in service in high-enforcement areas, like Irwindale. (PS: Check...
  • Japanese brands dominate list of top cars in U.S.

    03/02/2006 6:09:12 AM PST · by Graybeard58 · 173 replies · 3,379+ views
    Waterbury Republican-American ^ | March 2, 2006 | Dee-Ann Durbin (A.P.)
    DETROIT -- For the first time in nine years, all of the top picks in Consumer Reports' annual vehicle guide are made by Japanese automakers. The Honda Civic is the magazine's top small sedan, while the Toyota Highlander Hybrid is the top mid-sized sport utility vehicle, according to results released Wednesday. Vehicles from Nissan Motor Co. and Subaru, a division of Fuji Heavy Industries Ltd., round out the top picks in 10 categories. Asian brands also fared best in the magazine's survey of vehicle reliability. Toyota Motor Corp.'s Lexus brand was first, while Honda was second and the Toyota brand...
  • Porsche CEO's VW plan deals blow to minorities

    09/26/2005 3:27:09 PM PDT · by Uncle Joe Cannon · 20 replies · 882+ views
    Reuters ^ | 9/26/05
    Porsche CEO's VW plan deals blow to minorities Mon Sep 26, 2005 12:31 PM ET By Christiaan Hetzner FRANKFURT (Reuters) - Wendelin Wiedeking, the outspoken chief executive of Germany's legendary sports car maker Porsche (PSHG_p.DE: Quote, Profile, Research), is anything but a devout proponent of shareholder value. But investors holding Porsche non-voting stock never dreamed the otherwise conservative businessman would spend billions to protect the independence of Europe's largest carmaker, Volkswagen (VOWG.DE: Quote, Profile, Research), via a 20 percent stake purchase. Privately controlled but publicly listed Porsche has taken the Frankfurt Stock Exchange operator to court over requirements for index-listed...
  • Porsche announces four-door car

    07/27/2005 12:47:46 PM PDT · by spetznaz · 48 replies · 1,486+ views
    CNN ^ | July 27, 2005
    NEW YORK (CNN/Money) - Porsche will build a four-door car starting in 2009, the company announced Wednesday. To be called the Panamera, the car will have four doors and four seats but will have a swooping, coupe-like profile. It will have a front-mounted engine driving the rear wheels. Pricing for the car, which is still under development, has not been announced. The company expects to sell at least 20,000 Panameras per year, according to the announcement, which would make it the company's most popular model by far. Porsche is currently on track to sell about 9,600 Boxster sports cars this...