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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.

Consumer Reports declares most and least loved cars [w/video]

Consumer Reports is crunching the numbers from its annual owner-satisfaction survey, and part of that process is finding out how attached drivers are to their cars. CR simply asks readers of models up to three years old if they would buy the same vehicle again in light of their entire ownership experience, and tallies the results. After looking at the responses for about 350,000 vehicles, it turns out that people really love a certain California-built, electrically powered luxury sedan. That's right, this year's the overall winner was the Tesla Model S with a whopping 98 percent of owners saying they would purchase another one (the Model S also won this award last year, with 99 percent satisfaction). The Chevrolet Corvette Stingray came in a close second with 95 percent of drivers hoping to park another one in their garage. A few models weren't quite so favored, though. The Nissan Versa Sedan was the least loved model among its owners; a mere 42 percent said that they would purchase another. The aging Jeep Compass didn't do much better, with just 43 percent of drivers willing to buy the softroader again. On average, about 70 percent of owners say they would buy their car again, and only four cars ranked below 50 percent in CR's findings. Check out the video above to see some of the winners and losers in a few of CR's categories. If you're a subscriber, you can check out the full list on its website. Related Gallery Consumer Reports Most Loved Cars 2014 Related Gallery Consumer Reports Least Loved Cars 2014 News Source: Consumer Reports - sub. req., Consumer Reports via YouTube Chevrolet Ford Mazda Mercedes-Benz Porsche Subaru Tesla Ownership Videos car ownership

Autoblog Unplugged: 2015 Porsche 911 Targa 4S

The day began cold and clear. It felt like a perfect late autumn afternoon to flog the 2015 Porsche 911 Targa 4S on the backroads west of Detroit. So it seemed, anyway. An impromptu snow squall came out of nowhere, dampening the roads and our spirits, though the latter quickly were lifted as we began putting our German sports car through its paces. Quite simply, the 911 Targa 4S is up for almost everything. The all-wheel-drive system kept us poised and secure – it takes a bit to unsettle this 911 when all four wheels are clawing at the pavement. We still had 400 horsepower on tap, which is a riot to channel via the seamless PDK gearbox in any condition. Yes, this is a Targa, so even in the snow we dropped the top, cranked the seat heaters and had a heck of a good time. It's hard not to when you're motoring in something that starts at more than $120,000. Still, weather in Michigan can throw anyone a curve. We dealt with it, and luckily, you don't have to. In this Autoblog Unplugged you get all the good stuff. The purr and whine of the engine. Up-close shots of the Targa as it tackles the road – and best of all – no talking. Unplugs are all about driving. Thus, we'll shut up. Please enjoy.