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eBay Find of the Day: Your choice of new, unregistered mid-2000s supercars

If you didn't quite find what you were hoping to see under the tree this year, maybe it's about time you buy yourself something nice. Something like an unregistered 2005 Porsche Carrera GT. The car has never been titled and has just 83 miles on the odometer. With one owner since new, the Carrera GT is likely to be as nice an example as you're likely to find outside of a museum. Porsche only built 340 of these machines back in 2005, and with a 610 horsepower V10 kicking at your spine, you can lap Santa's sleigh next year. Currently, the Carrera GT has a buy it now price of $457,325 with around six days left on the auction.
Not flashy enough for your tastes? Stroll on down to West Hollywood and you'll find a similarly untitled 2004 Ferrari Enzo up for grabs with a sticker of $1.8 million. Technically a Euro-spec car, the Enzo isn't legal to operate on US roads, but could be modified to satisfy Uncle Sam with a little effort. The seller calls this car the "last brand-new Enzo in existence" and with 175 miles on the clock, that may be a true statement. You can head over to eBay Motors for a closer look if you're feeling spendy.

Porsche's former CEO Wiedeking to stand trial over VW-share manipulation

Former Porsche CEO Wendelin Wiedeking (left in the above photo) could potentially be facing some time in the slammer after all. The last we had heard, he and former Chief Financial Officer Holger Haerter (right) had avoided a trial in April due to a lack of evidence. However, an appeals court in Stuttgart has looked at the case again and overruled the earlier decision, finding that the executives should be tried for share manipulation during Porsche's failed attempt to take over Volkswagen in 2008, Bloomberg reports.
The judges in the appeal "list numerous indications that could suggest that there was a hidden decision to increase the stake as they could suggest the opposite evaluation by the lower court," said Stefan Schueler, a spokesperson for the court, in a statement cited by Bloomberg. Wiedeking and Haerter put out their own releases saying that there was no merit to the charges.
The prosecutors allege that Wiedeking and Haerter had a plan to buy up VW stock options in 2008 to take the automotive giant over but hid it from investors. The whole thing was a massive failure and eventually allowed VW the chance to acquire Porsche and forced the two execs to step down. In addition to the criminal investigation, hedge funds have attempted to sue the company multiple times in civil court for the same reason, but they have repeatedly failed.

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.