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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."

MindDrive cruises California with 1972 Karmann Ghia EV

If you need a bit of inspirational EV goodness, spend some time watching the collection of videos we've got for you from Minddrive. Minddrive, as you might remember, is the education mentorship program that "uses real-world issues of our times to teach urban students critical thinking, creativity, entrepreneurship and how to improve their future by expanding their vision for themselves." The focus was on a fully restored 1972 Volkswagen Karmann Ghia. Well, restored and converted to electric power. The students previously worked on the Lola EV but this year the focus was on a fully restored 1972 Volkswagen Karmann Ghia. Well, restored and then converted to electric power. In early June, almost 50 Minddrive students and mentors flew from Kansas City to California to visit the epicenter of electric vehicles in the US on something called the "Raise Your Hand Tour." Filmmakers Mark Honer and Kelly Creech from DHTV Digital were along for the ride. The videos below show the students flying from to Oakland, crossing the Golden Gate Bridge, presenting the Karmann Ghia at the California Academy of Sciences and then visiting the Monterey Bay EV Club, Google, Twitter and Telsa. All of this EV engagement apparently worked. One of the students, identified only as Xavier, wrote a poem and essay about what the electric vehicle project meant to him. Here's a tease: "Minddrive has honestly opened my eyes to sights and things I would have never thought possible. I have finally found the right path to follow." Read the whole thing below, after the videos. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. I used to think that I would never be able to achieve to a greater rank. Always thought that power was given to people with a big bank. Never could imagine that my life would be amazing. Felt that my whole existence was around the weed blazing.

IIHS says these are the safest cars of 2013

The Insurance Institute for Highway Safety (IIHS) has revealed its annual list of Top Safety Picks, an award that highlights automobiles it says offer "superior crash protection." A new and still more significant award, the Top Safety Pick+ honor, is given to those vehicles that earn good ratings for occupant protection in four out of five areas of measure. And while some 117 vehicles were given the TSP seal of approval for 2013, just 13 passed muster for TSP+.
To be fair, IIHS only evaluated 29 vehicles with its new testing procedures for TSP+ (we'd expect that the number of qualified cars will rise substantially for 2014). Luxury and Near Luxury midsize cars were the first groups evaluated, followed by midsizers in the Moderately Priced Cars category - unsurprisingly, it's only midsize cars that you'll find among the class this year.
Only two luxury sedans made the list of 13 for 2013: the Acura TL and Volvo S60. The other 11 cars on the list included entries from domestic, Japanese and German car makers: Dodge Avenger, Chrysler 200, Ford Fusion, Honda Accord (sedan and coupe), Kia Optima (but not its close kin, the Hyundai Sonata, strangely), Nissan Altima, Subaru Legacy and Outback, Suzuki Kizashi and the Volkswagen Passat all made the grade.