Porsche officially becomes a VW brand, in $17 bil. debt
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This whole thing is wierd.
Porsche is making a lot of money and is a takeover target. I agree it is important for them to be independent and not a part of GM. So they are buying Volkswagon stock to put the money somewhere, so GM can't get it. This is causing the price of the VW stock to rise to unheard of levels due to short squeezes and potential market manipulation. Part of the reason is that not all of the VW stock is publically traded, some is owned by the German government. Right now it is selling for three times its actual worth down from six times its actual worth a week or so ago. This is all causing Porsche options to swing wildly too. All I care about is whether any of this will affect them making my favorite cars. If they have so much money, I wish they would spend it making a top tier Le Mans car. |
Porsche was always VW's dad, not so strange for me.
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As long as we dont see a "Golf" type car with a porsche badge on then they can do whatever they like......the Cayenne/Touareg thingymajig was more than enuf.......even though admittedly the Cayenne is the reason Porsche's profits went thru the roof!!!
A reverse takeover would be interesting, and probably aknock out punch from the VW camp, but i think Porsche is too strong an entity for that....at the moment anyway, u never know how things pan out nowadays! And I agree with Philip too.....PORSCHE HAS TO SPEND MONEY AND WIN LE MANS AGAIN.....when was the last time u saw a Porsche Supercup race, and weren't bored out of ur mind?? |
I can't see Porsche not wanting to be the chiefs in this case. They were the ones who spent all the money. VW will have considerable influence, but it will be a Porsche man in the box seat.
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Who's your daddy now, Porsche?
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Massive fail here. Although it was probably a process started before the global financial crisis, so not really so bad in context, but still a terrible situation to have gotten oneself into.
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what's that? do I hear the sound of a Beetle 911 turbo? (lol a beetle with a boxer 6 and a 15G turbo) now that would be a fun girly car
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http://cache.jalopnik.com/assets/res..._Carrera_1.jpg 0-60 in 10.6 seconds |
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Except for his lack of top tier racing support; he really had a rock solid vision for PAG... which I respected tremendously.
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Me too, I expect it's Piech who insisted he go, they weren't that matey.
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New Porsche chief named. Michael Macht, the production manager.
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In short, Porsche owes its creditors $17 billion in its failed takeover attempt for the control of Volkswagen. Volkwagen agreed to the merger, but under the condition that Volkswagen takes control of Porsche. With VW's purchase of 49.9% of Porsche, Porsche has officially become part of VAG. Integration of Porsche into the VAG tree isn't due to be complete till 2011, but Porsche CEO and CFO positions have already been taken up by those of VW. VW also announced plans to buy 20% of Suzuki in potential plans to take control of the said company as well.
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http://online.wsj.com/article/SB1000...884631890.html http://www.reuters.com/article/idUSTRE5B72ZA20091208 |
If "significant income and cost synergies" mean VW door handles or knobs in the GT3, then NO THANK YOU
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It sure as hell won't mean a Passat rebody of the Panamera that's for sure :P |
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