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Magnus Walker crashes vintage Porsche with reporter inside

One of the minor storms on the Internet earlier this week concerned Porsche 911 collector and Outlaw tuner Magnus Walker getting in an accident in Minnesota. Walker had shipped his #277 1971 Porsche 911T to the twin city for the opening of a $10-million Porsche dealership there, and the day began with lots of Facebook and Instagram photos of the car posing all over the showroom grounds. This is the same car that we've seen in Jay Leno's Garage, in Midnight Rambler, and in a Need for Speed trailer. Then came a photo of the 911 next to a semi trailer with its driver's side crumpled in and punctured. No one was clear on how it happened, but it seemed to involve swerving out of the way of a Mercedes-Benz on a frontage road by the dealership. Thanks to video from the Minneapolis Star Tribune, now we know what happened. Newspaper reporter Vineeta Sawkar had been doing a story with Walker and wanted to get some video for the piece. During one pass down the frontage road Walker decided to go into a right-hander a little faster than prudent, the car understeered toward the center yellow, and then Walker did the most verboten thing one can do when cornering in a vintage 911: he lifted off the gas. Hello instant rear-engined oversteer. Cue the fishtailing, a millimeter-fine brush with a Pagoda SL, and a crunch into that truck trailer. Sawkar said she was a little battered and bruised but ok, as is Walker – who went on to test drive a GT3 RS later in the day. Head over to the Star Tribune to see the video.

Porsche to decide soon on Bugatti future

WEISSACH, Germany — Volkswagen will soon decide on the future of its luxury brand Bugatti, Oliver Blume, Volkswagen management board member and CEO of Porsche AG, said on Monday. Last week, Reuters reported that Bugatti was working on a strategic partnership with Rimac, which will likely result in a joint venture between Porsche and Rimac, with Porsche as a minority partner, Volkswagen CEO Herbert Diess said in March. "The future of Bugatti is an issue that will be decided on a group level," Porsche said in a statement, declining to comment further. Porsche boss Oliver Blume earlier this year said intense discussions on Bugatti's future were ongoing and that Rimac could play a role as the brands were a good technological fit, adding that a decision was expected in the first half of 2021.  

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.