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Porsche acquires ANDIAL, will integrate with in-house motorsports

Porsche has purchased longtime motorsports and tuning house ANDIAL.
The Fountain Valley, California-based tuning house ANDIAL has been around since 1975, when it was formed by the Arnold Wagner, Dieter Inzenhofer and Alwin Springer (the company got its name by combining two letters from each of their names). The three men met while working in a Porsche dealership in Southern California and then left to start a business that would put Porsches in victory lane all over the country.
Porsches prepared by ANDIAL won IMSA GT and Supercar Series championships, the SCCA World Challenge, four Pikes Peak class titles and the 24 Hours of Daytona six times. Alwin Springer left the company in 1997 to run Porsche Motorsport North America until 2004 and remains a consultant with PMNA, Wagner passed away in 2011 and Inzenhofer plans to retire this year. ANDIAL is still a going concern, Inzenhofer presiding over a scaled-down engine parts and restoration business. But Inzenhofer is retiring at month's end, making it a good time for Porsche to step in and take over the company's operations.

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.

Preserving automotive history costs big bucks

$1.8 million is spent each year to maintain GM's fleet of 600 production and concept cars.
When at least two of the Detroit Three were on the verge of death a few years back, one of the tough questions that was asked of Ford, General Motors and Chrysler execs - outside of why execs were still taking private planes to meetings - was why each company maintained huge archives of old production and concept vehicles. GM, for example, had an 1,100-vehicle collection when talk of a federal bailout began.