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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.

More details on Lanzante's F1-engined Porsche 930 restomod

Not long after last year's Porsche Rennsport Reunion, we posted on Lanzante Engineering's restomod project with the original Porsche 911 Turbo. McLaren Formula One used TAG-branded Porsche engines for four years in the 1980s to win two constructor's and three driver's championships. McLaren sold 11 of those engines to Lanzante — nine of which have been raced, one with a win to its credit — and Lanzante is installing them into the original chassis of some 930s. PistonHeads stopped by the shop to find out more. By the end of its service in the MP4/3, the TAG-Porsche TTE P01 motor rang up 1,060 horsepower in qualifying and 960 hp in the race, revving to a 12,600-rpm redline. Porsche engine legend Hans Mezger had led the development, coaxing those numbers from just 1.5-liters of V6 aided by two large KKK turbos at a max of four bar. All that was fine for a time when F1 ran with unlimited testing and unlimited parts, but a modern owner doesn't want to pay five techs to live in his garage and keep his car running. Lanzante asked Cosworth to make the engine more drivable and reliable. Cosworth installed a new crankcase, adjusted the air-fuel mixture, and installed smaller turbos for quicker power delivery, decreasing max boost by 25 percent to three bar (43 psi). The redline has come down to 9,000 rpm, for final output figures of 503 hp and 310 pound-feet of torque. According to PistonHeads, power climbs a "steady incline to redline," and more than half the rev band delivers maximum torque. The 503-hp rating doesn't sound like much today, when a Mustang gets more than 700 hp. Yet the first 930 Turbos got 296 hp and 243 lb-ft from a 3.0-liter flat-six with one big KKK turbo. The most powerful 930 Flatnose worked up 330 hp and 347 lb-ft from a 3.3-liter flat-six. Lanzante's taken out a ton of weight, though. The TAG engine is already 220 pounds lighter than the 930's 3.3-liter; a new carbon fiber hood and engine cover, and aluminum door skins shed more pounds. The total package weighs roughly 2,430 pounds, which is more than 500 pounds lighter than the original Porsche Turbo. That includes the extra pieces needed to make an F1 engine power a passenger car. Lanzante had to swap in a 930 Flatnose front bumper, which replaces the fog lights for oil coolers. The team put radiators at the front of the car as part of a brand new water cooling system. The climate control is entirely electric, because F1 cars didn't come with HVAC.

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.