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German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

James May's 1984 Porsche 911 is priced to sell at Goodwood

James May needs money. He's out of work, has payments to make on his Ferrari, and has resorted to doing less than stellar work to make ends meet. He and his colleague Richard Hammond sold their motorcycles to raise some extra scratch, and now Captain Slow is selling his Porsche, too. Of course, with years of paychecks form Top Gear and other TV appearances, several books, and a weekly column in The Daily Telegraph, it's unlikely that May is worried about debtor's prison. Mostly because that doesn't exist in the UK anymore, but also because he's probably loaded. The vehicle in question is a 1984 Porsche 911 Carrera, complete with air-cooled 3.2-liter flat-six. He became acquainted with the car in 2007 when he borrowed it from specialist Paul Devyea to record a Radio 4 documentary, and evidently fell in love, so he bought it. He even had it on air for a couple of specials for Top Gear and James May's Toy Stories. He loaned it to his dad for a while, but with his time on Top Gear now at an end, he's consigned it to Bonhams (the same house that handled his bike sale) to auction off at the upcoming Goodwood Festival of Speed. Its pre-sale estimate is quoted at GBP28,000-34,000 ($44-53k), which would seem a bit low – especially considering its celebrity provenance and low 55,000 miles on the odometer. Bonhams specialist Sholto Gilbertson tells Autoblog that "the estimate placed on the car has been designed to attract interest and ultimately achieve a stronger price for Mr. May."

Porsche 911 and Citro"en DS lovechild would look like this

The early Porsche 911 and the Citroën DS were two cars produced in the same era (though the DS launched in 1955, nearly 10 years before the 911), but they were vastly different from each other. The 911 was a uniquely German, pure-bred sports car, while the French-built DS had four doors and focused more on ride quality than sporting intentions. That made it all the more surprising when we came across the 911DS, a creation that binds the rear half of the Citroën to the front of an early, longhood 911.
The folks at Brandpowder are behind the creation, which we surmise was an exercise in design rather than an actual, completed project (some of the images look Photoshopped), but it's compelling nonetheless, with a turbocharged flat-six providing 260 horsepower. We hope someone builds it - though we're sure if that happened the early 911 crowd would cry afoul at one of its increasingly rare and valuable Porsches being grafted onto an old French car.
But as Brandpowder points out lightheartedly, perhaps the creation could transcend popular car culture: "The 911DS represents the effort of two countries, a genuine attempt to join their energy and talent into one thing. We hope Germany and France will be inspired by Brandpowder's story, as a metaphor for a better and greater Europe."