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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.

1973 Porsche 911 Carrera RS takes center stage with Petrolicious

Today, one of the most exciting track toys available is the Porsche 911 GT3. Its forbearer, though, was an altogether different beast that was every bit as exciting. Yes, we're talking about the old 911 Carrera RS that blessed the early 1970s. With a mere 1,580 cars built, meant specifically to satisfy the FIA's homologation requirements, the RS is one rare pre-Malaise era cars.
Complete with a 2.7-liter flat-six engine, this RS of Mark Haddawy is one of the earlier examples of the breed (later cars received a larger, 3.0-liter engine). Still, it can scamper to 60 miles per hour in a very respectable 5.6 seconds and will happily hit 150 mph in a straight line. Sporting Porsche's iconic duckbill rear spoiler, the equally iconic Fuchs wheels, as well as slew of options, as Haddawy points out, each of the nearly 1,600 RS models is its own unique iteration on the Porsche performance formula.
Take a look below for the latest video from the crew at Petrolicious.

Porsche resurrects V8-powered 911 prototype from the Eighties

These days, we take it for granted that the Porsche 911 uses a flat-six engine. That's because every version of the iconic rear-engined sports car has had one. Right? Well, for the most part. There was the 912 that joined the original in the late Sixties with a flat-four. And in the mid-Eighties, Porsche toyed around with the idea of a V8-powered 911.
After the first-generation 911 had been in production for over two decades, Porsche began development of its successor, the 964, in the 1980s. And one of its ideas was to use a V8 engine. So it took a 964, borrowed a V8 from Audi, gave it the rear bodywork from a 959 and dubbed it the 965.
The idea was to create a more affordable successor to the 959 that included its advanced all-wheel drive system and active suspension. The Audi V8 would have been replaced with one of Porsche's own design - possibly based on the it had built for Indy racing - but Dr. Ulrich Bez (who was then head of Porsche R&D long before taking the reins at Aston Martin) ultimately killed the project.