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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.

Updated J.D. Power APEAL study shines on VW Group, Chevy

J.D. Power has just revealed the results of its 2013 APEAL Study, which looks at which brands have the most appealing cars based on sales figures, dealer inventory, brand loyalty, transaction and trade-in prices. The study was revamped for 2013, and places a larger focus on the new tech and infotainment options available to customers. All told, study participants gauged their vehicles on 77 different attributes, delivering a score out of a 1,000 points.
The Volkswagen Group had the greatest success of any corporation, topping the APEAL rankings with the Audi Allroad, Porsche Boxster, Porsche Cayenne, VW GTI and Passat. Chevrolet had the highest number of awards for a single brand, though, with the Avalanche, Sonic and Volt all taking home a prize.
The best brand overall was Porsche, which scored 884 out of a possible 1,000 points. The top Japanese brand was Lexus with a score of 847, while the top American brand was Cadillac, at 841. The best mainstream brand was Ram, which received a very respectable 817. The industry average for this year's study was 795, with 16 brands, all of which were mainstream, falling below the average.

James May's 1984 Porsche 911 is priced to sell at Goodwood

James May needs money. He's out of work, has payments to make on his Ferrari, and has resorted to doing less than stellar work to make ends meet. He and his colleague Richard Hammond sold their motorcycles to raise some extra scratch, and now Captain Slow is selling his Porsche, too. Of course, with years of paychecks form Top Gear and other TV appearances, several books, and a weekly column in The Daily Telegraph, it's unlikely that May is worried about debtor's prison. Mostly because that doesn't exist in the UK anymore, but also because he's probably loaded. The vehicle in question is a 1984 Porsche 911 Carrera, complete with air-cooled 3.2-liter flat-six. He became acquainted with the car in 2007 when he borrowed it from specialist Paul Devyea to record a Radio 4 documentary, and evidently fell in love, so he bought it. He even had it on air for a couple of specials for Top Gear and James May's Toy Stories. He loaned it to his dad for a while, but with his time on Top Gear now at an end, he's consigned it to Bonhams (the same house that handled his bike sale) to auction off at the upcoming Goodwood Festival of Speed. Its pre-sale estimate is quoted at GBP28,000-34,000 ($44-53k), which would seem a bit low – especially considering its celebrity provenance and low 55,000 miles on the odometer. Bonhams specialist Sholto Gilbertson tells Autoblog that "the estimate placed on the car has been designed to attract interest and ultimately achieve a stronger price for Mr. May."