1974 Vw Volkswagen Beetle Original Convertible Hot Rod No Rust Survivor Rare Wow on 2040-cars
Roslyn, New York, United States
1974 VW BEETLE CONVERTIBLE IN YELLOW CAR HAS BEEN SITTING IN LONG ISLAND NEW YORK FOR THE LAST 29 YEARS IN A GARAGE HERE IN LONG ISLAND NEW YORK. IT IS A TRUE LOW MILEAGE ORIGINAL WITH ORIGINAL INTERIOR AND ONLY 63K MILES ON THE CLOCK. THE CAR IS VERY SOLID. SINCE THE CAR WAS SITTING FOR A LONG WHILE IT NEEDS NORMAL MECHANICAL WORK TO BE ROAD WORTHY AGAIN. WITH FRESH GAS, A REBUILT CARBURETOR, SHE WILL PURR LIKE A KITTEN AGAIN. THE TOP IS ORIGINAL AND IN GOOD SHAPE. BODY IS STRAIGHT AS AN ARROW, MOTOR SPINS, RESTORE THIS CAR AND YOU WILL HAVE A CLASSIC CAR THAT TURNS HEADS. ANY QUESTIONS PLEASE CALL 516 233 7788 COME LOOK IN PERSON ANYTIME FARMINGDALE NY 11735 I WORK WITH LOCAL CAR HAULERS AND THIS CAR CAN BE AT YOUR DOOR IN JUST A FEW DAYS. TITLE IN HAND I WILL HELP LOADING THE CAR IF NEEDED, AND THE CAR CAN BE SEEN ANYTIME IN PERSON AT MY OFFICE IN FARMINGDALE NY ZIP CODE 11735. SUMMER IS AROUND THE CORNER GET READY WITH THIS NEW CAR 516 233 7788 MICHAEL |
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Porsche again staring down another $1.8B in hedge fund lawsuits
Wed, 15 May 2013The 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.
Porsche-Piech buy 10% stake in VW's holding company
Tue, 18 Jun 2013In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.
Chrysler and Fiat offering $1,000 rebates to VW owners as Marchionne gets tough
Mon, 10 Dec 2012The throw-down between Fiat CEO Sergio Marchionne and Volkswagen has heated up in earnest. According to Bloomberg, Fiat and Chrysler are now offering current Volkswagen owners in the US $1,000 rebates to trade in their ride. It's the latest in a series of shots Marchionne has taken at his German rival. As you may recall, the Fiat executive entered into a spat with Volkwagen board chairman Ferdinand Piëch and CEO Martin Winterkorn in October after the duo called for Marchionne's resignation from presidency of the European Automotive Manufacturers Association (AECA). At the time, the Volkswagen executives were quoted as saying Fiat would not survive the European economic downturn.
In response, Marchionne called the German executives "reprehensible," and accused Volkswagen of using a pricing strategy that has created created a "bloodbath" in the EU. Volkswagen has taken to steep discounting to carve out ever-larger slices of market share in Europe, but the company has a much smaller foothold in the US. Marchionne may be trying to hit Volkswagen where the manufacturer is weakest with the new Fiat new incentive program.
Late last week, the Fiat executive was voted to a second term as ACEA president.