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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.

Porsche offering short-term loans to Macan waitlisters

Walk into a Porsche dealer today, place an order for a Macan and you'll be looking at a waiting period of six months or more before you can expect delivery. That may be common enough for high-end European automakers, but the Macan is meant to lure new buyers to the brand, and the waitlist could be enough to deter them from sticking around.
The solution? Offer to lease them a Boxster or Cayman until their new Macan arrives. Shorter in term that the usual new-car lease, these six-month terms are designed to keep buyers from turning their backs, all the while experiencing the kind of vehicle Porsche does best.
Of course it doesn't hurt that the dealer then gets a used sports car to sell again once the short-term lease is up. And we wouldn't be surprised to see some buyers asking to hold on to their mid-engined sports car for a little longer, either.

Watch a Porsche 918 Spyder being built by hand

No music track, no dialogue, no voiceover, just a group of women and men in a very clean room in Zuffenhausen assembling the Porsche 918 Spyder. It's the antidote to the adrenaline that the open-topped hybrid coupe encourages in most enthusiast bloodstreams, but this nearly-11-minute video is the most captivating B-roll we've seen in a while. From hand-sewn leather to hand-wrapped trim, monococques being wheeled about, the copious use of shims and the rear brace being fitted over the engine, plus the Christmas-like joy of opening a box of body panels, it's all in there. You can't buy a new one anymore, but you can see how they're built for those who did buy them in the video above. Related Gallery 2015 Porsche 918 Spyder: First Drive View 51 Photos Related Gallery 2015 Porsche 918 Spyder Factory Tour View 28 Photos News Source: Cars via YouTube, Road & TrackImage Credit: Copyright 2014 Michael Harley / AOL Green Plants/Manufacturing Porsche Convertible Hybrid Luxury Performance Supercars Videos porsche 918 spyder zuffenhausen