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Former Porsche boss Wiedeking won't face criminal charges over VW bid

Hedge fund managers have been suing Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.
Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.

Salvage team boards burnt ship Felicity Ace off Azores, towing begins

LISBON — More than a week after a ship packed with around 4,000 vehicles, including Porsches, Audis, Lamborghinis and Bentleys, caught fire in the middle of the Atlantic Ocean, a salvage team managed to board the vessel on Friday and started to tow it to a safe location off the Portuguese Azores archipelago. In a statement, ship manager Mitsui O.S.K. Lines Ltd (MOL) said the Felicity Ace remained stable, and the smoke that for days billowed from the vessel, adrift around 170 km southwest of the Azores, had stopped. The 22 crew members of the Panama-flagged Felicity Ace, which was carrying around 4,000 vehicles including Porsches, Audis and Bentleys from Germany to the United States, were evacuated last Wednesday, the day the fire broke out. Some of the vehicles are electric and their lithium-ion batteries have made the fire very difficult to extinguish, port officials have said. Previous attempts to board the ship to assess its condition and start preparing it for towing had failed due to the fire and rough seas. On Friday, the team was able to board by helicopter and the salvage boat Bear started towing the vessel to a "safe area off Azores," the ship manager said. It was not clear where exactly the vessel was being towed to. It was being escorted by two tug boats and another salvage craft equipped with firefighting gear, MOL said. Related video: Image Credit: Portuguese Navy (Marinha Portuguesa) via Reuters Green Weird Car News Audi Bentley Lamborghini Porsche Electric fire car fire shipping cargo ship

Vintage-ish Porsche 911 buying guide

Harry Metcalfe is always great at showing viewers the intricate details of the vehicles in his collection as part of the Harry's Garage series. This time he's helping out future buyers by explaining what to look for when purchasing a classic and slightly more modern Porsche 911. His examples for this lesson are two absolute beauties that are about to cross the block from Silverstone Auctions in the UK: a 1972 2.4 S and a 1991 964-chassis RS Clubsport. The '72 in creamy white here epitomizes the look of early 911s. The coupe is handsome, purposeful, and fairly compact by modern standards. According to Metcalfe, when looking at one, don't worry about a wobbly gearshift. Apparently, they're all like that, even ones as well cared for as this example. As with any used car purchase, he recommends trying to get as many service records as you can. It's just good to know as much about the vehicle's life as possible before throwing down any cash. Where the '72 911 shows the more gentlemanly side of the brand, the '91 RS Clubsport is Porsche proving the company's performance credentials. Metcalfe slightly dings the switch to an aftermarket air filter here, but overall it's hard to find a major fault. These cars were essentially road-going racers in this trim. The engineers in Zuffenhausen chopped out as much weight as possible and then fitted Recaro racing buckets and a roll cage. This thing was meant clock as many laps around the 'Ring as the driver could stand.