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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.

Volkswagen Golf, Ford F-150 named 2015 North American Car and Truck/Utility of the Year

Congratulations, Volkswagen Golf/GTI and Ford F-150. You've just been named the 2015 North American Car and Truck/Utility of the Year, kicking off the first press day of the Detroit Auto Show. The Golf faced some seriously stiff competition from its runners-up, the Ford Mustang and Hyundai Genesis. But the Golf has been a highly awarded vehicle since its launch, including recently being named Motor Trend's Car of the Year. As for the Truck/Utility award, it wasn't immediately clear that the aluminum-bodied Ford F-150 would win the North American honor, topping the Chevrolet Colorado and Lincoln MKC. The Chevy, after all, has been widely praised since arriving this fall, including taking home MT's Truck of the Year award. In 2014, Chevrolet had a sweep of the NACTOY awards, with the Corvette Stingray and Silverado taking top honors. Here's a look at the 2015 North American Car and Truck/Utility of the Year voting breakdown. As you can see, it wasn't exactly neck and neck. Car of the Year Volkswagen Golf/GTI – 256 points Ford Mustang – 204 points Hyundai Genesis – 110 points Truck/Utility of the Year Ford F-150 – 297 points Chevrolet Colorado – 205 points Lincoln MKC – 68 points The winners were determined by the votes of 57 North American jurors who work in all forms of media – magazine, newspaper, television, online and radio, and their ballots were tabulated in secret by accounting firm Deloitte & Touche. Autoblog editors Sharon Carty and Chris Paukert are members of the North American Car and Truck/Utility of the Year jury. Featured Gallery 2015 Volkswagen Golf TSI View 16 Photos Related Gallery 2015 Ford F-150 View 36 Photos Detroit Auto Show Ford Volkswagen Truck Hatchback 2015 Detroit Auto Show NACTOY

Jay Leno takes a ride in Gabriel Iglesias' classic 1966 VW bus

We've seen Jay Leno driving all manner of vehicles, many of them epically fast. But few (this is side of his steamers, anyway) have been as slow – or quite as beautiful – as this classic 1966 Volkswagen Samba. While many of the vehicles featured on episodes of Jay Leno's Garage have actually been from Jay Leno's own garage, the former talk-show host has been known to feature some interesting rides from fellow comedians. A couple of weeks ago it was Adam Carolla's '68 Lamborghini Islero, and this vintage, pristine VW bus belongs to Gabriel Iglesias. It's in beautiful condition and is a sight to see, even if it has a little trouble making its way down the highway. Or starting up again after a quick snack break.