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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."

Watch onboard video of the Porsche 918 Spyder's record 'Ring lap

"Pics or it didn't happen!" You could almost hear the Internet shouting this when news started to trickle in about a sub-seven-minute Nürburgring lap by the new Porsche 918 Spyder. Well, after an official press release, which we ran earlier today, we have your "pics." Moving pics, to be more exact. Porsche has released on-board footage of the 6:57 lap.
The video, which runs about eight-and-a-half minutes, and shows the 918 from inside the car on a flying lap of the German track. Perhaps what's remarkable is just how undramatic it all looks. Sure, there's some sawing at the wheel from test driver Marc Lieb (one of three testers, including legendary rally king Walter Röhrl), but he makes wrangling the Martini-liveried 918 look kind of easy.
Take a look down below for the full, on-board video, and then click over and read our initial write-up from earlier this morning and take a glance at the more stylized video that Porsche originally posted.

Magnus Walker soliloquizes in his Porsche 911 at night

Magnus Walker, a prolific Los Angeles clothing designer who has also carved out a respected spot for himself in Porsche world, has had yet another video made about him and his sizable Porsche collection. In this latest video, Hong Kong-based Obscura magazine focuses its video cameras on Walker and his 1971 Porsche 911 track car (yes, the one that appeared on Jay Leno's Garage) as he speeds around Downtown LA and Little Tokyo late at night.
We've heard Walker's story many times before. He's not like the average Porsche owner, perhaps a tad more passionate than most, and he builds 911s like he designs clothes: his way. Sure, we might be a little envious, but can you blame us? View this very slick and entertaining nighttime video entitled Disturbing The Peace below.