Not quite the expected takeover, but still something.
http://www.time.com/time/business/article/0,8599,1896714,00.html
-
May 7, 2009 8:57 p.m. David S. Wallens Editorial Director
-
May 7, 2009 9:04 p.m. Stealthtercel New Reader
Can somebody PLEASE explain this segue to me?
<>
-
May 7, 2009 9:14 p.m. 72SuperBrian Reader
PLEASE NOOOOOOOOOOOOOOOOO
-
May 7, 2009 10:03 p.m. friedgreencorrado Reader
72SuperBrian wrote:
PLEASE NOOOOOOOOOOOOOOOOO
C'mon..the 914 wasn't that bad. Well, after they actually put the Porsche engine in it, anyway..
-
May 7, 2009 11:13 p.m. 2002maniac New Reader
wow, does this come as a shock to everyone else?
-
May 7, 2009 11:31 p.m. HappyAndy Reader
That was confusing
So Porshe was trying to take control of VW but for complex political reasons couldn't, and now Porshe, weakend from the fight, will become just annother VW brand? Were credit default swaps and AIG involved?
-
May 8, 2009 7:23 a.m. RossD Reader
I heard that porsche was slowly buy up vw's stock and that drove the price up. The price was getting so high that people started borrowing stocks from hedge funds and selling them off at high prices in hopes that the price would crash to a low and then they would buy up the amount of stocks that they borrowed and hand them back over to the hedge funds. But since porsche was driving the prices up artificially (and under the radar), the prices never fell and when the borrowers had to give back the stocks to the hedge funds they had to pay through the ear to get them back. I heard porsche made billions on buy up vw's stocks.
-
May 8, 2009 9:24 a.m. CrackMonkey HalfDork
HappyAndy wrote:
Were credit default swaps and AIG involved?
Sort of. Read the article linked above. Basically, Porsche exploited a loop-hole in Germany's financial reporting regulations, leaving a large number of hedge fund managers with open positions they couldn't cover. Made Porsche a lot of money, and gave them the lion's share of tradeable VW stock.
