What's going on at Porsche?

[DNW]

CEO and CFO both resigned: http://news.bbc.co.uk/2/hi/business/8164295.stm

Battle of the Porsche cousins: http://www.google.com/hostednews/ap/...xc5ZgD99JV3NG0

 

[culverwood]

I really hope the engineer and car man Piech wins this battle.

 

[JayJay]

Originally Posted by DarkNWorn

CEO and CFO both resigned: http://news.bbc.co.uk/2/hi/business/8164295.stm

Battle of the Porsche cousins: http://www.google.com/hostednews/ap/...xc5ZgD99JV3NG0
Interesting....

 

[Hennessy]

I really find the case interesting. The Piëch and Porsche families owns the largest share of Porsche today and they also own a big part of VW. They claimed that they would use the money from a potential Porsche sale to VW to buy a larger share of VW. Seems like an ideal position to be in.

 

[Sherlockian]

I thought this was going to be a snarky thread about the styling of the Panamera.

Which is fugly.

 

[CodeRed]

Porsche tried to take over VW, but VW will wind up owning Porsche. CEO/CFO loaded up on too much debt at just the wrong time given the capital mkts...their heads rolled.

 

[Joffrey]

Porsche overleveraged themselves trying to buy VW. Now they're fucked because of massive debt, so bye-bye independent porsche.

Edit: Oops, didn't read CodeRed's post before I posted.

 

[TheFusilliJerry]

Originally Posted by Sherlockian

I thought this was going to be a snarky thread about the styling of the Panamera.

Which is fugly.

not as bad as the ******* SUV. i don't care how many they sell, its a shame that they made one. i can't even begin to.., ughh

 

[hypersonic]

The latest:

http://edition.cnn.com/video/#/video...ef=videosearch

 

[greg_atlanta]

Originally Posted by TheFusilliJerry

not as bad as the ******* SUV.

But it subsidized the rest of the model line for years and kept the company afloat. The sports car market is fickle.

 

[Joffrey]

I used to like the Cayenna but I think it's fug now. anyway, I support the company doing what it had to do to continue making their regularly sports cars. The Panemara...not so much.

 

[TheFusilliJerry]

Originally Posted by greg_atlanta

But it subsidized the rest of the model line for years and kept the company afloat. The sports car market is fickle.

i know i know they sell more of those than all the others combined still i hate to see rich nj houswives who don't know how to drive with those things

.

 

[JayJay]

Originally Posted by greg_atlanta

But it subsidized the rest of the model line for years and kept the company afloat. The sports car market is fickle.
This is very much true, but I'm still not a fan of the SUV and even less so of the 4-door sedan; however, I'm glad Porsche did what it had to do to keep producing sports cars.

 

[Casey]

Originally Posted by JayJay

This is very much true, but I'm still not a fan of the SUV and even less so of the 4-door sedan; however, I'm glad Porsche did what it had to do to keep producing sports cars.

Exactly. Business is business, and sometimes you just have to give in to the consumer.