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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Porsche announces Cayman GT4 with 911 GT3 components

For years, there's been a debate among Porsche fans about which of its products is a better sports car, the 911 or the Cayman. It would only take a few sentences before those in the Cayman corner said that Porsche wouldn't make the Cayman as good as it could be for fear of overshadowing The Number One Son. We have a feeling these conversations are going to get a lot livelier with the introduction of the Cayman GT4, which pilfers lightly from the 911 Carrera S and heavily from the 911 GT3. On the outside, you can look to its front fascia, wheels, and fixed rear wing, and 30-millimmeter lower ride height for GT3 inspirations. Underneath, there's a 385-horsepower, 3.8-liter flat-six engine amidships, credited as being derived from the Carrera S. While there are those out there still lamenting the fact that the GT3 can only be had with a dual-clutch transmission, the Cayman GT4 "transmits its power solely through a six-speed manual transmission with dynamic gearbox mounts." Yeah. So take that. The extra power reduces the Cayman GT4's 0-to-60 mile per hour sprint to 4.2 seconds, a half second quicker than the 340-hp Cayman GTS, and bumps top speed up to 183 mph. An interesting nugget: Porsche says the Cayman GT4 runs the Nurburgring in seven minutes and 40 seconds, which it credits as the same time run by the 2011 911 GT3. Porsche has never offered a precise time for the current 911 GT3, saying only that it's "under 7:30," and Internet rumor (grab your salt lick) is that the not-yet-introduced GT3 RS has done a 7:20. We don't have all of its details yet – those will come closer to its introduction at the Geneva Motor Show next month – but we're told of a lot more 911 GT3 parts underneath, like the chassis that "consists almost entirely of components from the 911 GT3" and that all of its "technical aspects are based on the 911 GT3." If you want to take it further, the options sheet will include ceramic brakes and carbon fiber bucket seats. This new top-shelf Cayman gets to dealerships in the US in July with a starting price of $84,600 before a $995 destination charge. You'll find a few more bits of info in the press release below. A New Member of Porsche's GT Family The benchmark in its class: the Porsche Cayman GT4 Atlanta, Feb. 3, 2015 - Porsche's GT family is proud to announce the addition of an exciting new member: the Cayman GT4. This is the first Porsche GT sports car based on the Cayman and features components of the 911 GT3.

Jack Olsen built a Porsche 911 to drive every day and conquer Willow Springs

Almost two years ago we wrote about the 12-Gauge Garage Jack Olsen built to house his multifarious Porsche 911 - its 1972 bodywork hides four decades of Porsche parts, like the transaxle from a 1977 911 and the engine from 1995 911, for example. It weighs 2,400 pounds and has 272 horsepower, and Olsen uses it daily driving and for track days, the latter excursions featuring homemade, bolt-on aero parts. German magazine Auto Bild stopped by Olsen's house to look in on the Porsche called "Black Beauty II," and we get a few more details about the mods he's made, like swapping out for fiberglass body panels and welding Fuchs wheel centers to wider Corvette barrels so he could run different tires. Most importantly, though, Olsen divulges his passion for lowering his lap time at Willow Springs. Randy Pobst set the lap record for a production car around the 2.5-mile Big Willow track in a Porsche 918 Spyder at 1:23.54 during a Motor Trend test (the outright record, according to Willow Springs, is held by Michael Andretti at 1:06.050 in a CART car). Further down the list, Steve Millen drove a 415-hp 911 GT3 RS around the same track in 1:33.14 - a car 600 pounds heavier than Olsen's. Over the past 14 years of tinkering with his car, Olsen says his data shows his lap time is now down to 1:26.88, achieved on the day of filming the Auto Bild video. That time would put him in between the 1:26 flat posted by Dominik Farnbacher in a 608-hp Dodge Viper SRT-10 ACR and the 1:28.93 put up by Pobst in a 400-hp, 991-series 911. You can hear Olsen tell it in his own words in the video.