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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Porsche Classic puts modern navigation in older cars [w/video]

People drive classic vehicles for many, many reasons. Maybe it's because they're cool, or they bring back memories, or perhaps they just want to take a trip back in time, before the days of adaptive cruise control, massaging seats and satellite navigation. You know, back to when driving was about, well, driving. Someone did not mention this reasoning to Porsche, because the German company has decided to offer the tiniest, most ridiculous in-dash navigation system we've ever laid eyes on, through its Porsche Classic line. Because, you know, people don't own smartphones nowadays. In fact, most smartphones are significantly bigger than Porsche's new nav setup. The touchscreen is just 3.5 inches in size, although its graphical layout is clean and in line with the company's more modern offerings. It also integrates a new entertainment system, which adds Bluetooth connectivity and a 4x45 watt amp. The system is being offered for a wide array of vintage Porsches, ranging from the most modern, air-cooled 993s, all the way back to the earliest 911. Four-cylinder and V8 models, as well as front and mid-engine cars, can be fitted with the nav system, too. Porsche Classic has priced the new system at the frankly absurd price of 1,184 euros ($1,344 at today's rates), though we're sure a large number will indeed be sold and installed. Dedicated US pricing is still pending. Check out Porsche's rather silly video of the system in action, available alongside the full press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. PORSCHE CLASSIC BRINGS OUT NEW NAVIGATION RADIO FOR CLASSIC SPORTS CARS True-to-style upgrade with state-of-the-art technology Atlanta. Classic on the outside yet ultra-modern on the inside: with its newly developed navigation radio, Porsche is responding to the growing demand for a built-in device for classic sports cars. The purpose-built unit combines the style of yesteryear with the benefits of modern technology. It fits perfectly into the DIN-1 slot that has been used in the sports cars for decades and is operated by means of two knobs, six discreetly integrated buttons and a touch-sensitive 3.5-inch display. Thanks to the appearance of the black surface and the shape of the knobs, which are supplied in two authentically styled versions as standard, the navigation radio blends harmoniously into the dashboard of classic Porsche models.

Porsche 911 RSR stops just long enough to have its photo taken

When it comes to Porsche and its rapidly escalating endurance racing program, all eyes may be on the new 919 Hybrid - and with good reason: that's the vehicle with which Porsche will be challenging the likes of Audi and Toyota for wins in the top-tier LMP1 class of the FIA World Endurance Championship and at Le Mans. But it's the 911 RSR that does and will continue to form the backbone of the factory's effort.
The 470-horsepower racing version of the road-going 911 took a one-two finish in its class at Le Mans last year, and also won its class at the Daytona 24 this past January as well. This year Porsche will field two of them in the WEC, another two in the United SportsCar Championship here in the US and will sell countless more to customer racing teams that will undoubtedly continue to rack up trophies in racing series around the world. This, then, might be a unique chance to see one standing still. Check it out in our gallery of live images above from the Geneva Motor Show.