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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.

World's largest toy car collection is in Beirut, and it's remarkable

It's common for auto enthusiasts to have a few miniatures of their favorite cars around their home or office. They provide a respite of happiness knowing that if you can't have the real things, at least you can look at them in miniature. However, Billy Karam of Beirut, Lebanon, has taken collecting toy cars to its extreme. His collection of over 30,000 model cars and 400 dioramas is certified by the Guinness Book of World Records as the world's largest collection of car toys. "You cannot buy the big ones, so you buy a thousand of the small ones instead," says Karam in the video. Karam is a former amateur racing driver with a weakness for all things Porsche, and many of his dioramas depict races that he drove in or attended. Looking at them gives him a chance to relive the experiences again, but unlike a photo or video, they are right there in three dimensions. Scroll down to watch this astounding Cool Hunting video narrated by the collection's captivating owner. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Cool Hunting Video: World's Largest Toy Car Collection from Cool Hunting on Vimeo. News Source: Cool Hunting via VimeoTip: Reilly Toys/Games Porsche Videos Guinness World Records diecast toy car car collection

Porsche previews new 911 in development

Porsche has taken the rather unorthodox step of releasing a series of photos of a new vehicle before it reveals it in full, sans brightwork and covered in dirt. That model, as you can see, is the new 911, expected to feature a number of upgrades and some big changes over the 991-generation line it will replace. The photos give us an advance look at the update, with more details to follow. Likely to be dubbed (unofficially) as the 991.2 or 991.5, the new 911 will encompass the usual array of visual updates: revised bumpers, headlights, rolling stock, interior equipment... the works, as we saw from the most recent batch of spy shots. But the biggest change will be under the hood, where Porsche is expected to fit a new family of downsized, turbocharged flat-six engines to replace the naturally aspirated units in the current models, likely with more power and improved performance to boot. We expect the launch of the new 911 to kick off a raft of new versions to follow, including coupes, convertibles, and Targas (as you can see from the photos), as well as rear- and all-wheel-drive versions in various states of tune. The current generation, after all, bred a about two dozen versions, and you can bet the new one will lead to just as many, from the base Carrera all the way up to the Turbo. That will (as in the all-turbo Macan range) likely remain the flagship model, even after the forced induction no longer sets it apart. The GT3, GT3 RS and a new purist model are expected to be the only hold-outs for atmospheric pressure, but the widespread adaptation of turbocharged power will put another degree of separation between the new 911 and the naturally aspirated, air-cooled models of old. For more details, we'll have to wait until Porsche reveals the full monte, but for a taste of what's to come, look no further than the 19 high-resolution images in this slideshow. Related Video: Featured Gallery 2017 Porsche 911: Testing View 19 Photos Image Credit: Porsche Porsche Performance porsche 991