Porsche AG

Recent Events

News & Analysis

porsche ag - All News and Analysis

• Porsche 911 Turbo S: 2010 Geneva Auto Show

  BNET - 2010-02-08

  STUTTGART, Germany — Porsche will formally unveil its redesigned 911 Turbo S Coupe and Cabriolet next month at the 2010 Geneva Auto Show. Deliveries to U.S. customers will begin in May, with prices starting at $159,100 for the coupe and $170,200 for the cabrio. Many of the high-tech accessories that...

  Tags: Mph, Porsche AG

• VW shareholders should beware the family's embrace

  Financial Times - 2010-02-04

  An old school British merchant banker, now living happily in retirement in the English countryside, listed after dinner the other night his basic stock picking formula. Never invest in family controlled companies. Never invest in companies that seem to be at the peak of their performance. And never invest...

  Tags: Shareholder, Porsche AG, VW, Automotive, Company News, Corporate Finance, Expenditure, Mergers & Acquisitions, Shareholdings, Financial Times

• Porsche board under fire over derivatives

  Financial Times - 2010-02-03

  Porsche's supervisory board has been criticised by shareholders over its alleged failure to control the risks of a derivatives strategy that brought the sports car maker to the verge of bankruptcy in 2009.Several shareholders at the annual meeting last week alleged that Wolfgang Porsche, chairman, and other supervisory board members, failed to control the heavy use of options during the four-year attempt to take over Volkswagen that failed last year.At one point, the options had a gross value of €57bn ($79bn), compared with the company's €6.6bn in revenues from making cars, but Porsche was left with a loss of €2.5bn after its value fell.Christian Strenger, supervisory board member of DWS, Germany's largest institutional investor, said: "The supervisory board was apparently not in the position, or it did not want to recognise, the existential risks caused by the management board."Shareholders have questioned the €50m pay-off to Wendelin Wiedeking, Porsche's former chief executive.The pay-off was decided one week before Porsche warned that it could face a pre-tax loss of up to €5bn in the same year, mainly because of losses from the options on VW shares.Mr Strenger, who is acting as a private shareholder in this case but has the informal backing of several institutional investors, said on Wednesday he was weighing up the possibility of asking a court to appoint a "special investigator" to assess the pay-off and whether the options strategy had been allowed under Porsche's by-laws.A "special investigator" is an independent person who can be appointed by an annual meeting or a German court to find out whether there has been any wrongdoing at board level.The result of such a probe can be used for damages claims, lawyers say.Mr Porsche countered last week that several independent legal assessments had shown that the options strategy and the pay-off had complied with the law.He added that the derivatives strategy had been in line with Porsche's internal bylaws because it was used solely to increase the stake in VW at a reasonable price.Porsche is grappling with several legal battles over its attempt to take over Europe's largest carmaker.Prosecutors in two German cities are investigating possible market manipulation and a breach of disclosure rules.Meanwhile, four large hedge funds launched a lawsuit against the sports car maker and two former executives last week for more than $1bn.The US lawsuit is expected to be only the first step in a series of damages claims by international hedge funds, banks' proprietary trading desks and large family offices.People familiar with the plaintiffs' plans said the total volume of future damage claims – which could be filed in several jurisdictions including Germany, the UK, the Netherlands and the US – could exceed $10bn.Some investors fear the damages claims could derail the timing for the 2011 merger with VW.But Hans Dieter Pötsch, VW's and Porsche's chief financial officer, said on Wednesday he did not expect any delay from the lawsuits. by Financial Times

  Tags: Porsche AG, Board, Derivatives, Corporate Governance, Automotive, Business Operations, Corporate Law, Bankruptcy & Receivership, Company News, Meetings, Strategy, Financial Times

• Funds Sue Porsche Over VW Bid

  BNET - 2010-01-25

  Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit www.djreprints.comSee a sample reprint in PDF format. Order a reprint of...

  Tags: client, colleague, Dow Jones & Company Inc., distribution, article, presentation, VW, Porsche AG

• Aston Martin gives thumbs down to Hybrid Cars

  BNET - 2010-01-07

  WHILE THE LIKES of Ferrari, Porsche and BMW investigate hybrid technology for their sportier models, Aston Martin has ruled out any such models for its own line-up. Full post can be found here. Our take? Finally, a luxury car maker smart enough to realize that fuel efficiency is not a...

  Tags: BMW AG, Ferrari, Porsche AG

• 2010 Hybrid Cars - The Year Ahead

  BNET - 2009-12-31

  Published December 31, 2009 The first hybrid gas-electric car in the United States, the original Honda Insight, reported its first 17 sales in December 1999. One decade and 1.5 million hybrids later, the auto industry is ready to embrace hybrids and other green cars like never before. What are the...

  Tags: Honda Motor Co., Car, Toyota Prius

• CMT-380 supercar watches Porsche in the rear view

  BNET - 2009-12-01

  Tags: mile, Turbine

• Football star drove while on the phone

  - 2009-11-28

  SUNDERLAND footballer Lee Cattermole has been caught talking on his mobile phone while driving his Porsche Turbo. The 21-year-old midfielder has been given three points on his driving licence after the incident on Redcar Terrace in West Boldon on August 21. Cattermole was spotted by an...

  Tags: Porsche AG

• Closer to perfection

  - 2009-11-28

  Byline: Jonathan Smith AMONG that elite band of supercars, none has stood the test of time better than the Porsche 911. With its hunchback styling and rear engine it stands out as almost an anachronism against an array of swoopy, aerodynamic coupes, many with Italian designers. ...

  Tags: Porsche AG

• Close to perfection

  - 2009-11-27

  Byline: Jonathan Smith AMONG that elite band of supercars none has stood the test of time better than the Porsche 911. With its hunchback styling and rear engine it stands out as almost an anachronism against an array of swoopy, aerodynamic coupes, many with Italian designers. ...

  Tags: Porsche AG