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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.

Porsche updates Macan range to match new GTS

Porsche just rolled out the new Macan GTS, packing a number of enhancements and updates. But while some of those revisions remain limited to that specific model, others are being shared across the Macan range. Chief among the updates to the Macan is the new Porsche Communication System, which was introduced on the latest 911 variants, then on the Macan GTS, and now on the rest of the small crossover lineup. The system centers around a seven-inch touchscreen display and integrates onboard wifi, Bluetooth and smartphone connectivity, and a new 3D navigation interface. The revised Macan can also be had with full dynamic LED headlights instead of the bi-xenon units. Finally, Porsche is also offering some new accessories for the Macan Turbo, including new interior and exterior packages, as pictured in the gallery above. There are new 21-inch wheels, trim pieces, and smoked rear lights for the outside, and Alcantara trim and other special touches for the cabin as well. The updates and packages are being rolled out initially in Porsche's home market, but should be arriving Stateside as well in due course. Exclusive exterior and interior packages for the Macan Turbo More functionality and individuality for the Porsche Macan Stuttgart. Porsche is significantly upgrading the Macan. To coincide with the world premiere of the Macan GTS at the Tokyo Motor Show 2015, the new model year of the compact SUV is also receiving enhanced infotainment and comfort features. The new Porsche Communication Management (PCM) now comes in the Macan as well. Just a short while ago, the system celebrated its debut in the 911. Highlights are real-time route navigation, simplified operation and an integrated Wi-Fi hotspot. Porsche is also offering new full-LED headlights as an option for all models of the sporty SUV. Greater comfort and functionality are augmented by a bonus in sportiness. A re-engineered steering controller provides a more direct handling experience and improved contact with the road. Extended exterior and interior packages are available as options exclusively for the Macan Turbo. Now customers can introduce even more individual styling to their vehicle. The new PCM generation: easier operation and improved connectivity The centrepiece of the infotainment system that comes as standard in all Macan models is the new, high-resolution seven-inch touchscreen. The redesigned user interface employs intuitive operation, similar to that of a smartphone.

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.