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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.

Ferrari 458 Speciale vs Porsche 911 GT3 shows what Chris Harris does best

After a brief trip behind a pay wall, British auto journalist Chris Harris is back posting videos for free online, and shorts like this one are the perfect example of why his return is so welcome. Showing up at the damp Anglesey Circuit on the Welsh coast with the Ferrari 458 Speciale and Porsche 911 GT3, Harris ostensibly aims to find the better model. However, the final result really succeeds in showcasing the fun to be had behind the wheels of both supercars, particularly when initiating huge slides around the track. As Harris presents it, the vehicles get through the circuit in somewhat different ways The Ferrari is brash and "feels alive," as he puts it as it screams around the track. Alternatively, the Porsche is a bit more restrained, while still being able to show some emotion. In the end, it comes down to trying to get a controlled lap around Anglesey from this duo, but it's pretty clear that the times don't tell the whole story. If you're in the mood to watch two of the world's premiere supercars wag their tails in the wet, then this video cannot be missed.

Porsche releases special edition 911 GTS Club Coupe

Porsche is never afraid to add one more variant of the 911 to the lineup, but its latest inclusion to the range is being kept extra limited, to keep things super special. The automaker is building just 60 examples of the 911 GTS Club Coupe, and only members of the Porsche Club of America can order them. The organization fittingly celebrates its 60th anniversary this year. Prices for 59 of the cars start at $136,060, plus $995 destination, with deliveries in June, and club members can win the last car (the showcar) as a prize. Mechanically, these vehicles take the 430-horsepower engine, wider body and rest of the updates from the regular 911 GTS, but all of these come in a unique color called Club Blau. The cobalt shade gets set off with black frames around the bi-xenon headlights, tinted taillights and black chrome exhaust outlets. The limited coupes also get a vintage-inspired ducktail rear spoiler and 20-inch Sport Classic wheels in a mix of semi-gloss black and polished metal that evoke the look of the classic Fuchs wheels on older 911s. For added contrast inside, the seat stitching, seat belts and tachometer are offset in red. Plus, the trim for the dashboard, doors and center console features carbon fiber. Capping things off, a plaque reading "GTS Club Coupe 60 Years Porsche Club of America" is near the glovebox. Being a Porsche, there are still options on these special models. The Extended Club Coupe Package goes so far as to include the key painted in Club Blau and adds leather-edged floormats. A custom car cover is also available. Check out the gallery to pick out all of the stylish tweaks for these celebratory 911s. GTS CLUB COUPE REVEALED IN THE NEW PCNA HEADQUARTERS AT ONE PORSCHE DRIVE Porsche celebrates 60th anniversary of Porsche Club of America with limited-edition 911 model Atlanta. Celebrating six decades of the largest Porsche club organization in the world, Porsche Cars North America is commemorating this milestone with a 60 unit limited-production run of the Club Coupe based on the 911 Carrera GTS. Known as the GTS Club Coupe, the 430 hp sports car is painted in a color unique to this model appropriately named "Club Blau," which was created exclusively for this anniversary edition by the Porsche Club of America.