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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Porsche 911 with VW turbodiesel prepares for LeMons assault

LeMons racing is a wonderful example that setting limits can actually breed creativity. The series mandates that all entries must cost $500, not counting safety equipment, and that cap forces teams to be ingenious in how they build a racecar. Take for example this diesel-powered Porsche 911, which its creators have dubbed Ferkel the Nein-11, that will be racing in the Sears Pointless race this weekend in Sonoma, California.
This Frankenstein combines a 911 chassis that was originally bought just for its European powertrain and a Volkswagen TDI diesel engine mounted in the rear. After deciding the shell could still be of some use, the team decided to go racing. "We began brainstorming what replacement drivetrain to use for maximum offense and there was really only one answer: a diesel," said Philipp von Weitershausen, one of the team captains, to Jalopnik. They bought a 1998 Jetta TDI on the cheap and started figuring out a way to hack the engine into the bay. To pay respect to the donor, the VW's trunk was highly modified (and drilled) and grafted onto the back of Ferkel.
This team isn't a newcomer to LeMons. Its last car was a classic VW Beetle with a Subaru engine and dual controls, named Ferdinand the Bug, which could be driven from the left or right side. It's quite a sight.

PSA: Mark Webber can't text and drive and neither should you

Texting and driving is dangerous. You shouldn't do it. We really can't stress that enough. But if you won't listen to us, maybe you'll listen to Mark Webber. The Australian driver is one of the most accomplished in motor racing. As Sebastian Vettel's former wingman at Red Bull, he won nine Formula One grands prix and scored over a thousand championship points. And now as the headline driver in Porsche's endurance racing program, he and his teammates behind the wheel of the 919 Hybrid are currently in the lead to win the 2015 FIA World Endurance Championship with just one round to go. Suffice it to say, then, that he knows a thing or two about the concentration it takes to drive. And it doesn't involve looking at your phone while doing so. To drive that point home (so to speak), he and Porsche put together this little public service announcement. It shows a distracted Webber piloting a 911 GT3 Cup around the Dubai Autodrome in the United Arab Emirates, messing up his racing line, missing his apices, spinning out, and nearly trashing the thing. Does the idea of looking at your phone while lapping a race track strikes you as ludicrous? Well, it should. But then, at the risk of coming across as preachy, so should the idea of texting while driving. Because if a racing driver should know better, so should you. Don't take our word for it, though... take it from Mark in the video above.