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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Porsche teams with Delta airlines to woo VIP passengers

The next time you're waiting for a flight at Hartsfield-Jackson Atlanta International Airport, see if you can spot a Porsche Cayenne or Panamera zipping between aircraft on the busy tarmac. The high-performance German vehicles aren't there practicing for an upcoming autocross; they are tasked with whisking some of the airline's most important customers between flights so they can keep their busy schedules intact.
Launched nearly two years ago, the program has proven popular with the automaker, airline and passengers as all benefit from the unique arrangement. Atlanta-based Porsche is able to showcase its cars to Delta's frequent-flying Medallion members, the airline is recognized for providing unusual perks to its high-value customers and those fortunate enough to be surprised with a quick lift are able to make connections without a stressful run through the terminal. Based on its success, the airline is rolling our similar programs in New York, Los Angeles and Minneapolis this month.
And don't think Porsche is the only automaker working with an airline to entice its frequent flyers. Mercedes-Benz ran a program over the summer that offered purchasing and leasing incentives to MileagePlus Premier members of United Airlines, and the two are currently shuttling top fliers around Houston's George Bush Intercontinental Airport in the automaker's S-Class and GL-Class models.

Parents of terminally ill child sue after son dies following make-a-wish-style ride

Some stories are so sad and depressing, they make you want to go back to bed and pull the covers over your head. This is one such story. 14-year-old Raphael Wittman was suffering from an unspecified form of terminal cancer when he was invited by the children's cancer charity Kinder Krebs Hilfe to a charity drive organized by Porsche Forum Austria. During the drive, the Porsche Boxster Wittman was riding in was involved in a head-on collision. Both of his legs were broken and he bit off his tongue in the wreck. He died seven weeks later, in a Vienna hospital. Now, his father is suing the charity, claiming that the accident robbed his son of the will to live.
"The accident set off a chain of events starting with the doctors putting him on new medication for the cancer he had. He was always a fighter, but suddenly he was saying that he was not going to fight any more," Franz Wittman told Austria's Kurier, according to The Guardian. "We would have had a wonderful last time together [on vacation] but it never happened because of the accident."
Father and son were originally planning to go to Tenerife to spend time together, although those plans were cancelled following the accident.