Custom 2002 Porsche 911 Twin Turbo Coupe 3.6l on 2040-cars

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Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

How Porsche got Patrick Dempsey into the driver's seat for Le Mans

How do you get to Carnegie Hall? Practice, practice, practice. Ask Patrick Dempsey and he'll likely tell you the same secret for landing a role on a hit TV show or, for that matter, driving a Porsche in the 24 Hours of Le Mans.
That's because, like McQueen and Newman, Dempsey has earned his place in that rarified field of actors who also race. He's competed in Baja and Grand-Am, co-owns an IndyCar team, and this year returned to Le Mans where he and his teammates Joe Foster and Patrick Long finished fourth in the GTE-Am class behind the wheel of their Porsche 911 RSR.
It's a grueling race, and the fluid transition between drivers behind the wheel is a key element to success. Check out the satirical video below to see how Dempsey and company got ready.

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.