Daily News Channel
The man who owns the Porsche that Lindsay Lohan was driving when she allegedly struck a pedestrian Wednesday is refusing to abandon the actress … and even hung out with LiLo in NYC today. Lindsay’s bearded homie is Domingo Zapata — a rich artist who’s so tight with Lohan, he permanently leaves a pair of keys for her […]
Apparently Lindsay has a knight in Shining Armor coming to her defense. Slash, rocker guitarist, Tweeted “She Did Nothing Wrong” in the troubled stars defense. Yet Another Arrest More drama in the Lindsay Lohan arrest — Slash just posted a tweet IN SUPPORT of the actress … claiming he’s 100% positive she didn’t do anything wrong … however there are […]
The driver of a white Porsche zips into the Costco gas station in Marina del Rey, Calif., and takes his place in line.
German prosecutors are investigating Porsche’s former chief executive Wendelin Wiedeking and other people close to the sports carmaker, alleging market manipulation and passing on inside information in their failed takeover attempt of Volkswagen. Prosecutors in Stuttgart on Thursday raided the headquarters of Porsche, which recently agreed to merge with VW after an attempt to acquire the much bigger rival had pushed it to the brink of bankruptcy. A Porsche spokesman rebuffed the prosecutor’s allegations
Volkswagen is to pay ?3.3 billion ($4.7B) for a 42 percent stake in Porsche’s main production division, the two German carmakers said yesterday as they thrashed out more details of a move towards a full integration. In a move that will amount to a rescue of debt-laden Porsche, VW will also buy the automobile trading business of Porsche Holding Salzburg, Europe’s biggest vehicle dealer that is also owned by the sports car maker’s family owners.
Nobody can blame Volkswagen CEO Martin Winterkorn for smiling this past week. VW has just turned the tables on would-be raider Porsche, placing Europe’s biggest carmaker in the driver’s seat for a planned merger with the much smaller and sportier firm. And while colleagues at rivals like Daimler, Fiat, General Motors and Peugeot are busy trying to survive the current economic storm, Winterkorn seems poised to throw VW into high gear.
It’s hard to feel sorry for a guy who walks away from a job with a check for €50 million .
Porsche announced Thursday that its longtime chief executive is stepping down, a move that may pave the way for a takeover by Volkswagen. Wendelin Wiedeking has been in the driver’s seat at Porsche for 17 years. Also stepping down is Holger Haerter, Porsche’s chief financial officer.
Over the past few days, the German luxury automaker Porsche has moved into high gear with the launch of its latest model, the Panamera, a 4-door, 4-seater sedan that it hopes will reverse flagging sales and maintain its status as the world’s most profitable auto maker. But even as the motoring press descends on Stuttgart to test drive the new car, the Panamera launch is being overshadowed by a bizarre feud in the company’s founding family that is starting to damage both Porsche and its sister company, VW. It’s a nasty, vindictive battle that, in keeping with bad cases of sibling rivalry, risks spiraling out of control and hurting everyone involved, including the shareholders, customers and workers at the two German automakers.
Iconic German automakers Volkswagen and Porsche have reached an agreement to merge operations — the latest move in an industry that has seen whiplash changes in recent weeks. The two companies have been in talks in recent weeks about merging manufacturing operations