2011 Porsche 911 Speedster on 2040-cars

Auto blog

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Ferraris, Porsches and planes star at McCall’s Motorworks Revival

MONTEREY, Calif. – McCall's Motorworks Revival, sometimes called The Jet Party, kicked off vintage car week here as enthusiasts streamed into the region for days of car shows, official automaker events and hob-knobbing leading up to Sunday's Pebble Beach Concours d'Elegance. Held at the Monterey Jet Center, the revival featured an array of exotic and classic cars blended in with planes, racecars, motorcycles and luxury items like jewelry. This year the eclectic lineup of cars included vintage Ferraris and Porsches, a raised 1964 Chevy Impala, a classic Toyota Land Cruiser and a Cobra. The 1960s Ford GT40 racecar sat near the modern Ford GT, while Camilo Pardo, the designer of the in-between generation (2004-06), held court nearby. Iconic planes like the B25, P51 and an ancient biplane were intermingled with the flashy cars. Show-goers tipped drinks, tossed back heavy hors d'oeuvres and desserts, ogled the seemingly random collection of amazing machines and prepared for days of celebrating the automobile on the Monterey Peninsula. The revival is in its 26th year and is put on by McCall Events, whose owner Gordon McCall is a class judge at the concours and the cofounder another Monterey car week staple, the Quail. The revival also collects donations for a California police charity. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery McCall's Motorworks Revival 2017 View 29 Photos Image Credit: Copyright 2017 Drew Phillips / Autoblog.com Ferrari Lamborghini Porsche Coupe Motorcycle Luxury Performance Pebble Beach

Leno, Seinfeld and a Porsche 356/2 featured in latest CICGC

In the latest kaffeeklatsch known as Comedians in Cars Getting Coffee, Jerry Seinfeld pulls Jay Leno out of his garage for a trip to Jones Coffee in Pasadena, CA. The NBC funnyman we've lately seen driving two guest Porsches in his eponymous garage this time takes the passenger seat in a 1949 Porsche 356/2, one of early all-aluminum, hand-built coupes - still in 100-percent original condition - built in Gmund, Austria and nicknamed "Gmunds."
The comedy veterans have known one another for 35 years, so the episode is rich with stories of The Good Old Days. Leno says it is also the first time he's ever had a cup of coffee, and for obvious comedic reasons they start with the civet-stained beans made famous in The Bucket List. You can watch Leno take his first sip below, and have you haven't heard the joke about the goat and the anvil, scroll on down for a listen to that and one or two more jokes besides.