In an announcement today that surprised few and confused many, Porsche and Volkswagen made news by releasing information about their ongoing merger madness that requires an advanced degree in finance to make heads or tails of the various components. After a number of reads and a bit of research I think things distill down like this: …
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How Did They Do That? Oh, Wait. They Didn’t!
In Porsche's last full fiscal year they reported more profit than revenue. A fiscal impossibility you say? Not so, if you're playing in the world of high finance and derivatives. Then, as early as this past April it looked like Porsche was poised to do it again. In a statement released this spring, Porsche posted profits before taxes of EUR …
Continue to the full articleThe End of an Era
For what seems like months, stories have burned up the wires about the future of Porsche and Wendelin Wiedeking, its well paid CEO. Rumors of Wiedeking's imminent departure became reality after nearly two decades of triumphant rule turned tragic through a series of financial missteps and market maneuvers. Had his plan worked, we would have seen …
Continue to the full articleHas Porsche Lost Their Independence?
Quite a few reports out over the last few days that Porsche is no longer an independent company. The latest crop of rumors sprout from a report in Der Spiegel that VW/Piech has completed a reverse takeover and purchased the sport car manufacturing division, Porsche AG, of Porsche SE (and in doing so purchased the option to purchase themselves) yet …
Continue to the full articlePorsche to VW: Backoff!
Just moments ago, Porsche Automobil Holding SE released a joint statement from Dr. Wolfgang Porsche, Chairman of the Supervisory Board, and his Deputy Uwe Hück on the Ultimatum by Volkswagen and the State of Lower Saxon (more on the ultimatum after the release): “We trust that as in the past we are planning a successful future together with VW to …
Continue to the full articleGraffiti Tagged Porsches to $1 Billion in Profit.
Busy, busy day today in the world of all things Porsche. Rather than bombard your mailbox with multiple emails I thought I would wrap up today's events in a quick summary and provide links to full-text articles in case you want to dig deeper into any or all of the subjects. Porsche to post $1 Billion in operating profit Despite all the recent …
Continue to the full articleAn Idiot’s Guide to Porsche’s Financial Woes
Like a lot of you, I've been watching the story about Porsche's supposed financial woes with great interest and, at times, even greater confusion. I say "supposed" because up to now, Porsche has been quite quiet on the whole subject. Where does my confusion come from you ask? That's easy. All the rumors, assumptions and conjecture being …
Continue to the full articleFree Tour of the Porsche Panamera and Cayenne Production Lines
Plan on traveling to Germany soon? With production starting in the newly remodeled Leipzig plant of Porsche AG, the facility is once again open to the public for tours. Visitors now have the opportunity to see the all new Panamera rolling off the assembly line prior to the official launch this coming September. Experience the new Porsche …
Continue to the full articleIs Porsche Abandoning Their Plans to Take Over VW
Earlier in the day today Porsche SE released a statement indicating their interest in forming closer ties with Volkswagen AG. The release went on to say that if the proposed plans were adopted, the two automotive companies would join to create an "integrated" car maker uniting 10 brands under one roof. But, and this is a big but, still allowing …
Continue to the full articleRussian SWAT Team Attacks the Wrong Porsche Cayenne
It was not a good day to own a black Porsche Cayenne in Russia this week. Imagine for a moment that you had the good fortune to overcome the odds, make a few Rubles and enjoy a slice of the good life by purchasing your very own Porsche Cayenne. Now imagine you're sitting in traffic, minding your own business, when your world is suddenly turned …
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