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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.

1949 Gm?nd Porsche shows the birth of an icon

The Austrian village of Gmünd is more than just difficult to pronounce; it's also the birthplace of the Porsche brand. Before the company ever started building sports cars at its current home base near Stuttgart, the fledgling business completed several vehicles in the tiny town in Southern Austria. In this video, former Pikes Peak International Hill Climb champion Jeff Zwart takes a look at a 1949 Gmünd coupe to see how the company has evolved since its earliest days.
The thing to note about the Gmünd-built Porsches is their absolute design simplicity. The phrase "form follows function" gets bandied around a lot, but it really means something when you look at these early cars. However, the minimalism was partially out of necessity. The vehicles were meant to be sporty but certainly weren't rockets. Power came courtesy of a modified Volkswagen Beetle engine, and anything extraneous would have slowed the models down. Scroll down to watch Zwart go back in time to Porsche's beginnings.

Porsche 911 Aerodynamic prototype cheated the wind ahead of its time

You might think that sports cars would have the lowest drag coefficient of all cars. And yes, they do tend to be more slippery than, say, SUVs or convertibles, but the sleekest vehicles on the road tend to be EVs, hybrids and luxury sedans. Sports cars, on the other hand, have aerodynamically detrimental needs for downforce and additional engine cooling. Still, the Porsche 911 is better than most, and has only gotten more so over the years. Its relatively narrow track and compact form mean it has a smaller frontal area than some other sports cars, and the gradual sweeping back of its headlights and windshield have only augmented its capacity for cheating the wind.
This 911 prototype, however, is even more aerodynamic than most. It's based on a "G model" 911 from 1984, but employed such features as covered wheels, a new rear spoiler and a reprofiled front end to drop its drag coefficient from 0.40 to 0.27, making it as slippery as a modern sedan and better at cheating the wind than just about anything built up to that point, save for maybe the Tatra 77, Citroën SM or Tucker Torpedo.
Elements of this prototype ended up gradually making it into production Porsches for years to come, and you can clearly see early influences on the second-generation 964 and even on the 959. It's featured here as the latest installment in a video series on rare historic Porsches unearthed from the company archives, following previous clips that featured a rare V8-powered 911 and a mid-engined 911 prototype. Scope out the latest episode in the video below.