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Porsche's former CEO Wiedeking to stand trial over VW-share manipulation

Former Porsche CEO Wendelin Wiedeking (left in the above photo) could potentially be facing some time in the slammer after all. The last we had heard, he and former Chief Financial Officer Holger Haerter (right) had avoided a trial in April due to a lack of evidence. However, an appeals court in Stuttgart has looked at the case again and overruled the earlier decision, finding that the executives should be tried for share manipulation during Porsche's failed attempt to take over Volkswagen in 2008, Bloomberg reports.
The judges in the appeal "list numerous indications that could suggest that there was a hidden decision to increase the stake as they could suggest the opposite evaluation by the lower court," said Stefan Schueler, a spokesperson for the court, in a statement cited by Bloomberg. Wiedeking and Haerter put out their own releases saying that there was no merit to the charges.
The prosecutors allege that Wiedeking and Haerter had a plan to buy up VW stock options in 2008 to take the automotive giant over but hid it from investors. The whole thing was a massive failure and eventually allowed VW the chance to acquire Porsche and forced the two execs to step down. In addition to the criminal investigation, hedge funds have attempted to sue the company multiple times in civil court for the same reason, but they have repeatedly failed.

Used Porsche 911 Rs are selling for nearly $1.3 million

Some cars are just born to be collector's items. Prices of Porsches of all years and styles have started to rise in recent years, particularly air-cooled 911s, but the 911 R seems to take the cake. Used ones are trading hands for almost $1.3 million on the used car market. For a car that sold new for $185,950, that's quite a steep markup. In fact, at seven times the original MSRP, high-end car finance company Magnitude Finance told Motoring Research that it may be an appreciation record. Porsche only built 991 911 Rs. The number is a reference to the current 991 chassis code for this generation of the 911. When it was announced, it was heralded as the purists 911: a lightweight special equipped with a manual transmission and backed by the 4.0 liter flat-six from the GT3 RS. It's hard to say if this is a trend or simply an anomaly. The car hasn't been on sale for long, so few have publicly changed hands. Hopefully the next 911 GT3 will satiate those who desire a driver focused 911 experience at a slightly more reasonable price point. Related Video:

Ferrari Speciale and Porsche GT3 make the trip to Le Mans

Call it a pilgrimage. Call it a right of passage. The bottom line is that every racing fan should make the trip to Le Mans at some point. All the better if you can do it in style, as Evo has for this latest video. Instead of taking any old car through the Chunnel and along the French countryside to the famous Circuit de la Sarthe, Evo made the trip in the Ferrari 458 Speciale and Porsche 911 GT3. Both are more extreme versions of the already capable sports cars. They're still naturally aspirated, drive the rear wheels through seven-speed dual-clutch transmissions, and both won top honors in Evo's car of the year awards upon their release. And we could hardly imagine better vehicles for the journey. Along the way, the convoy-of-two stopped by the side of the old Rouen-Les-Essarts circuit. Back in the 1950s and 60s it was regarded as one of Europe's finest street circuits, hosting the French Grand Prix five times. It was closed down and paved over in the decades that followed, and is today part of a public thoroughfare – but you can still drive around it and see some of the relics of its former self peering through. Related Video: News Source: Evo via YouTube Ferrari Porsche Supercars Videos viral video porsche 911 gt3 evo circuit de la sarthe