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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.

2015 Porsche 911 Carrera GTS [UPDATE]

UPDATE: An earlier version of this story referenced the 911's six-speed manual transmission, but of course, Porsche uses a seven-speed manual in this car. The text has been changed to reflect this. There are no fewer than 19 different models in today's Porsche 911 series. While each appeals to the enthusiast, the race-bred GT3 is the pinnacle of the automaker's rear-engined lineup. Unfortunately, and despite the GT3's racing circuit prowess, its rigid track-tuned persona is too grating for many as a daily driver. To satisfy those who put sporty driving dynamics at the top of their list, but don't want to compromise comfort, Porsche has introduced the 2015 911 Carrera GTS. Raising its performance quotient, the GTS model boasts a handful of standard features that elevate it above its Carrera S siblings. Mechanically, it features an enhanced 3.8-liter flat-six bolted into the tail of the widebody platform (shared with the Carrera 4 and GT3). Other goodies include Porsche Torque Vectoring (PTV), Porsche Active Suspension Management (PASM), a black-tipped Sport exhaust system and centerlock 20-inch 911 Turbo S wheels (five-lug wheels are a no-cost option). Cosmetically, the GTS is differentiated by its darkened lights, painted black wheels, Sport Design front spoiler, Sport Design exterior mirrors, black engine grille, rear black louvers (or lights on all-wheel drive models) and a 'GTS' logo on the lower doors. Inside the cabin are standard Sport Plus seats, Alcantera upholstery throughout with contrasting stitching, black gauges and anodized black aluminum trim. Offering us an excellent opportunity to put the second-generation GTS through its paces on a variety of roads, Porsche tossed us the keys in the LA Basin and pointed us towards Willow Springs Raceway, in the Mojave Desert. Driving Notes The GTS is offered in coupe or Cabriolet body styles, each with a choice between rear- and all-wheel drive. Buyers are also offered a choice between a traditional seven-speed manual gearbox or Porsche's seven-speed dual clutch transmission (PDK). The GT3, meanwhile, is only offered as a coupe with PDK. We grabbed the keys to a Guards Red rear-wheel drive coupe with PDK for our outbound drive, and a GT Silver Metallic all-wheel drive Cabriolet with a seven-speed manual for our return trip. Finding another 30 horsepower from the naturally aspirated 3.8-liter flat-six required some old-fashioned tricks.

100th Pikes Peak Hill Climb brings bad weather, heartbreak

Hill climb? Please. While Europeans spent the weekend driving up a nobleman's driveway at the Goodwood Festival of Speed, we in 'Murica got down and dirty with the 100th running up Pikes Peak. In a reversal of stereotypes, it is we who have understated. The "hill" climb ascends one of the tallest peaks in the Rockies, to a finish line that's 14,115 feet above sea level. To get there, it takes 156 turns over 12.42 miles, some of which just look like paved sky, because they have have no guardrails between the asphalt's edge and sheer dropoffs. In reality, the Pikes Peak International Hill Climb is even older than 100 years. The first event took place in 1916, but in 1917-19 and 1942-45, the so-called Race to the Clouds was put on hiatus due to a couple of world wars. This year's event was marked by damp weather that dashed the hopes of several teams' efforts to break new records. David Donner's Porsche 911 Turbo S Lightweight Package, for example, was widely expected to reclaim the production car record this year. Donner is a three-time PPIHC champ, and set the 2014 production car record in a 991-generation Turbo S.  A Bentley Continental GT piloted by Rhys Millen beat it in 2019, so Porsche was keen on taking it back. Donner broke the production qualifying time earlier in the week, but even the seasoned pro couldn't put his skills to tarmac due to moisture-laden surfaces and low-visibility from thick fog on race day. The result was 10:34.053, over 15 seconds slower than Millen's 10:18.488, still good enough to land the class's top spot and second overall. Acura arrived in Colorado to conduct its much-touted motorsports debut of the 2023 Integra. While the entry-level sports sedan, equipped with a stock engine but modified with a slew of HPD goodies, came in ninth in the production class, Acura didn't go home emptyhanded. A 2022 NSX Type S driven by Nick Robinson took the category's third spot. Taking second was Daijiro Yoshihara with a Tesla Model S. In recent years, electric cars have become a force to be reckoned with, especially since they are immune to high altitudes that negatively impact internal combustion cars. Poor conditions sent newcomer Levi Shirley's Ultra 4 buggy off course. Fortunately, it was near the lower sections, where there's still a significant amount of runoff past the pavement's end. Amazingly, Shirley landed wheels down in the video above, and simply continued driving through the pea soup haze.