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Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

Revel in the glory of the Porsche 911 engine factory

A flat-six engine pumping away behind the driver defines the Porsche brand for many people, whether they are buying a Boxster, Cayman or 911. If you want to appreciate the sound and fury concentrated in the rear of these German sports cars even more, then take a tour of the company's 911 engine factory in Zuffenhausen, Germany, to see the work that goes into each one. We're long past the days of automotive assembly lines being deafening, dirty affairs, but it's still somewhat shocking to see just how sterile the plant in Zuffenhausen is. Each person wears a matching gray jumpsuit and gloves, and there's not a drop of grease of them. While the components are constantly coming down the line, there doesn't appear to be much of a rush. It's just a slow, steady movement that gives workers time to complete their appointed tasks. At least in this video, the employees don't even seem to talk to each other; the only sound is the hum of the plant or whir of tools. It's transfixing to watch these famous engine slowly come together largely from human hands. News Source: Cars via YouTube Plants/Manufacturing Porsche Technology Performance Videos engine

Roger Rodas' widow suing Porsche over Carrera GT crash

Investigations undertaken by local law enforcement may have vindicated Porsche from any wrongdoing in the crash that killed actor Paul Walker and racing driver Roger Rodas last year, but the latter's widow is apparently not convinced. According to emerging reports, Kristine Rodas has filed a lawsuit seeking unspecified damages from Porsche Cars North America.
In her suit filed with the Los Angeles Superior Court, Rodas' attorney Mark Geragos reportedly disputes the findings of the Los Angeles County Sheriff's Department, which asserted that the vehicle was traveling at an unsafe speed of 90 miles per hour on city streets, identifying the speed as the cause of the accident. Instead the lawsuit claims that the vehicle was only going 55 mph and that the cause of the crash was improper equipment - namely a faulty right rear suspension and the lack of a crash cage and proper fuel tank.