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Former Porsche boss Wiedeking won't face criminal charges over VW bid
Mon, 28 Apr 2014Hedge fund managers have been suing Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.
Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.
NFL draft recruits to get Porsche 911s for fastest 40 times
Thu, Feb 5 2015It's fair to say the NFL Combine is a big deal for players entering a draft. Their future quite literally comes down to a series of drills. You a defensive tackle? Better rock out on the bench press. Hoping to be the next great wide receiver? Your vertical better be awesome. And what of the running backs? Well, few drills match the importance of the 40-yard dash. That particular drill will have a renewed importance not just for the RBs, but for other skill positions at this year's Combine, as the three fastest times will be gifted a shiny new Porsche 911. Adidas is offering up the three cars, which ESPN reports are valued at about $83,000 a piece. That means these new recruits won't be rolling around in a Turbo or GT3. They will, however, sport a questionable sense of design, as the German shoe company has fitted a cheetah print, which is meant to match one of the company's new trainers. You can check both the car and the shoe out above. NFL fans, meanwhile, should feel free to head into Comments and let us know who you think will take home a new 911. Related Video:
Chevy Corvette Stingray defeating rivals where it matters most
Wed, 16 Jul 2014Everything is coming up roses for the award-winning Chevrolet Corvette Stingray, as new data from the North American Dealers Association dissected by GM Authority reveals that America's sports car is handily outselling two of its more expensive rivals.
Through June of 2014, the NADA notes that the Corvette has rung up 17,744 sales, handily besting the Porsche 911 and positively spanking the SRT Viper. Of course, you're sitting there thinking, "Corvette is outselling the much more expensive Porsche and Viper. Sky blue, water wet." But what's impressive here is just how thoroughly the Chevrolet is beating its two rivals, with this data serving as a testament to just how popular the seventh-generation sports car has become.
So far this year, Porsche has managed to move 5,169 911s, according to NADA. Considering that the base model starts at nearly $15,000 more than the most heavily optioned Stingray, and that Porsche owners have a vast, expensive options catalogue to select from, Stuttgart's sales are still plenty impressive in relation to the nearly 18,000 Corvettes sold.