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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.

Magnus Walker pops up again, this time with his Irish Green 911

He was the subject of a short film called Urban Outlaw. He has been on Jay Leno's Garage. Twice. He even graced the cover of Road & Track in June. And after all of that, he appeared in a video by Hong Kong-based Silly Thing. So it isn't really surprising that Magnus Walker is at the center of attention in the latest video from XCAR, but it's surprising - and a treat - to see his mostly original Irish Green 1966 Porsche 911.
Powered by an air-cooled 2.0-liter flat six with 130 horsepower (more like 120 hp today, Walker says), riding on 5.5-inch wide wheels and turned with a wooden steering wheel, the little green 911 does represent some of the best aspects of classic car motoring.
Head on below to watch the long-form video on Walker and his Porsche, but if your time is limited, you're not missing much if you call it quits at five minutes - especially if you've seen his aforementioned videos before.

Porsche Macan teaser reveals unique quad-LEDs

In truth, all-but-undisguised prototypes for the upcoming Porsche Macan compact crossover have been spotted galavanting all around the globe for some time now, but even the least-camouflaged examples have been caught wearing eyepatches covering their headlights and taillights. A dark new teaser image from Porsche clues us in to why that is - the baby Cayenne is getting unique quad-LED peepers up front.
Porsche has been hinting at lighting innovations in its production cars through recent concept reveals, including the stunning Porsche Panamera Sport Turismo showcar from last year's Paris Motor Show. The wagonized Panamera also featured four-point LED arrays up front, as well is in the rear, so it seems likely that this lighting will become a Porsche design signature going forward.
Powerpoint slides leaked from a recent dealer meeting suggest the Macan S will arrive packing a 3.0-liter turbocharged V6, while the Macan Turbo will boast a 3.6-liter force-fed unit, with both models receiving seven-speed PDK dual-clutch gearboxes. Pricing is expected to range from $52,000 for the S model to $75,000 for the Turbo.