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Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

2015 Porsche Macan Turbo

I knew it was a softball question, but I asked it anyway. It's pretty standard for automakers to offer up some examples of competitors when they invite the media to drive a new vehicle for the first time. If not stated outright, it's just as standard for some journalist to query about the competitive set as soon as the Q&A begins. I knew full well that Porsche believes it has a valuable new niche to itself with the 2015 Macan (and especially with the Macan Turbo), but I wanted to hear the answer to the competitor cars question anyway.
Porsche CEO Matthias Müller didn't hesitate for a second to respond. With a half-smirk appropriate to an executive that is about to launch the (very probably) most profitable and best-selling product in his brand's lineup he chuckled, "Of course, I could be arrogant and say this car has no competitors..."
Arrogant? Well, the grinning Müller certainly didn't give off a humble vibe as he proceeded to count down a list of German and British utility vehicles from various classes that are clearly behind the pace of the Macan in either looks, luxury, or sporting prowess - Range Rover Sport, BMW X3 and Mercedes-Benz GLK among them.

Vintage 911 sacrificed in the name of fashion

People routinely suffer in the name of looking good, whether through a pair of uncomfortable, stylish shoes or a nice shirt that doesn't breathe in the summer heat. Rarely is a vintage sports car the recipient of this sartorial pain, though. In a bizarre, short video from the fashion label Rag & Bone, an old Porsche 911 is the one taking all of the damage in the name of being chic. And it's really painful to watch. Give this video a few seconds to get going because it starts very weird (fashion!). Black smoke billows up through a hole in a harshly lit white room, and a woman keeps switching outfits. If the attempt at being artsy isn't painful enough, things get really traumatic for Porsche fans once the 911 appears on screen. Seeing a classic car get destroyed hasn't been this harrowing since the government publicly destroyed an illegally imported, classic Mini last winter. Thankfully, this 911 was reportedly just a shell, according to Jalopnik. Although even if that's the case, the body looks to be in great shape, and from the tiny glimpse through the windows, the interior even looks largely intact. This coupe might have been a pretty good restoration candidate if not for the massive hunk of concrete crashing through the roof to make a fashion video.