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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.

Buy a McLaren P1 GTR, Porsche 918 Spyder, and a Ferrari LaFerrari all in one place

The McLaren P1, Porsche 918 Spyder, and Ferrari LaFerrari, are arguably the three greatest hypercars yet. Of course, their extremely limited production meant that some ultra-wealthy individuals may have missed out on picking one up. In fact, to get a LaFerrari, you needed to have owned a certain number of Ferraris, and be in good graces with the company. However, if there are any super-rich car enthusiasts reading this right now, your chance to buy one or all of these three supercars is coming up next month at the RM Sotheby's Villa Erba auction in Italy. It will occur on May 27, and feature a McLaren P1 GTR, Porsche 918 Spyder Weissach, and Ferrari LaFerrari. 2016 McLaren P1 GTR McLaren fans, will RM Sotheby's won't offering just any McLaren P1, but rather the hardcore, track-prepped GTR variant. In fact, the GTR is so hardcore that it isn't legal for the street. This particular version went to specialist Lanzante to be converted for road use. Take note that it's only road legal in the UK, and it may not meet laws for other countries. However, that's still more than most GTRs can boast, and if you have the money for this, you shouldn't have any issue taking it to the UK to unleash the P1 GTR's 986 horsepower on public roads. This car could use some driving, too, as it only has about 223 miles on it, some of which included just one track event. RM Sotheby's expects this McLaren to go for between $3.4 million and $3.85 million. 2015 Porsche 918 Spyder Weissach View 31 Photos The Porsche 918 Spyder going up for auction is a special one as well. The first difference you'll notice is that it has been painted a custom color called "Arrow Blue," a hue specially mixed up as part of Porsche's custom paint service. It also features the lightweight Weissach package, which loses a few extra pounds by replacing an assortment of parts for lighter components. Among them are magnesium wheels and wheel bearings, carbon fiber roof, windshield frame, rear fenders, and rear view mirrors, and even titanium-backed brake pads. According to RM Sotheby's those pads have been replaced with fresh 918-spec pieces. The previous owner clearly enjoyed his or her 918, as it has just over 6,800 miles. In case you're interested in a well-loved 918, the auction house expects it to sell for just under $1.3 million to about $1.5 million.

2017 Porsche Macan GTS First Drive

Zebulon Pike, the military commander and explorer for whom America's best-known mountain is named, never reached "his" peak, even though he tried. Over 200 years later, with a grin so giddy that I blame it on the thin air at 14,114 feet, I crested the summit of Pikes Peak a tick over 14 minutes after leaving the starting line. I was behind the wheel of the most fun-to-drive crossover anyone has ever built: the Porsche Macan GTS. I can't take credit for what must be one of the fastest unmodified sprints to the top. That goes to Pikes Peak legend Jeff Zwart, who led a pack of journalists in Porsche's latest Macan up the hugely demanding paved road. Zwart wasn't piloting a Macan GTS; instead, he was behind the wheel of the 911 GT2 he drove back in 2002 when much of the route was gravel. Today's pavement provides more grip but also less room for error, Zwart told us. Unforgiving, he called the mountain. That's just what you want to hear at 6:30 a.m. when Zwart, two cars in front of you, takes off at a racing start. Pressed later, Zwart admitted he drove at a fraction of his racing pace while juggling two radios (one to communicate with us and one for park rangers to alert him to wildlife on the road) and shifting a manual transmission. Strapped into a Macan GTS, however, I found the trip plenty stressful – but that's because of the blind corners, the narrow road, the frost-heaved pavement, the blinding sun, and, of course, those unforgiving drop-offs. The polished GTS, which slots in between the mainstream Macan S and the bonkers Macan Turbo, proved unflappable. Of the Macan flavors, which will soon include a four-cylinder base model, the GTS is best suited to carving through the Rockies. Its 3.0-liter, twin-turbo V6 comes from the Macan S, but Porsche dials its boost from 14 to 17.4 psi, bringing output to 360 horsepower at 6,000 rpm (up 20) and 369 pound-feet of torque from 1,650 to 4,000 rpm (up 30). The only gearbox available is the PDK (Porsche Doppelkupplung) seven-speed dual-clutch transmission with Comfort, Sport, and Sport Plus modes. In addition to the power increase, the GTS gets a standard air suspension that sits 10 millimeters lower than the optional version for the S and the Turbo. Front brakes cribbed from the Turbo and a switchable sport exhaust with a single flapper valve round out the performance changes.