The Porsche-as-hedge-fund escapade isn't fully resolved yet. Of course, the biggest denouement will be when Volkswagen finishes integrating the company early next year, but in the meantime, Porsche is still dealing with investor wrath after its stock market foray. A group of U.S.-based hedge funds is suing the Stuttgart carmaker for loss
The Toyoda family has felt the pinch of the global automotive crash in the worst possible place: their wallets. Toyota share prices have plummeted by a very substantial 46% in the past nine months, costing the Toyoda family hundreds of millions of dollars. Soon-to-be company president Akio Toyoda's 4.6 million Toyota shares has dropped $145 million; a fantastic decline, but less than half of his father's loss. Former company president and honorary chairman Shoichiro Toyoda has lost $304 million
Just four months ago, Kirk Kerkorian had a cup out and was asking passers-by for some spare Ford shares. Although he only wanted 20 million of them, he was offered one billion. Turns out those folks trying to get out of the Ford ownership business might have been a bit more prescient than the Tracinda billionaire. After a couple more weeks of watching Ford's share price begin digging to
The NFL season is clearly out of control, Audi just crossed the country in a bunch of diesels you can't buy here, and GM wants to "merge" with Chrysler. But it's not just America that's home to the madness: Jonathon Ramsey
As with this year's American football season, weekly surprises in the car industry are now standard fare. VW recently overtook Ford for the number three spot in global sales, and now the home of the Beetle and the Veyron has overtaken Toyota as the industry's most valuable company based on dollar-converted market capitalization. Just as eyebrow raising is the reason for it: Toyota's stock has dropped 5%
We have no idea who will end up with Chrysler once all this madness ends, but we can say that there are already quite a few winners in the process -- DCX stockholders.