Porsche Raided on Insider Trading Suspicions in Germany

[dailydriver]

I had no idea how ugly this deal got:

http://blog.newsweek.com/blogs/wealt...n-germany.aspx

[willyjp]

I had no idea how ugly this deal got:

http://blog.newsweek.com/blogs/wealt...n-germany.aspx

no feud like a blood (family!) feud!

you have to wonder if, way back when he was an engineering & race car whiz kid (the 917!), Ferdinand Piech's cousins (or uncle?) didn't block his path to ascendancy in Porsche out of spite (by blocking "family members" from management, which is the rule that was passed)?

if so, the payback has been a bitch!!

[R84ME]

no feud like a blood (family!) feud!

you have to wonder if, way back when he was an engineering & race car whiz kid (the 917!), Ferdinand Piech's cousins (or uncle?) didn't block his path to ascendancy in Porsche out of spite (by blocking "family members" from management, which is the rule that was passed)?

if so, the payback has been a bitch!!

Ain't that the truth.. and now VW is buying Porsche! I bet the story's not over yet!

[HovyR8]

Not surprised to read all this. Germans aren't any different than the rest of the world when it comes to money.

[willyjp]

Not surprised to read all this. Germans aren't any different than the rest of the world when it comes to money.

I don't doubt that at all

but there's GOT to be much more to THIS story than money, I bet:

Porsche: ownership originally tightly controlled by Austrian Dr. Ferdinand Porsche's offspring (Louise Piech and Ferdinand Jr.(know as Ferry); the son, as one would expect, much more in the forefront of hands on management. (and even goes to prison in France along with Papa, for "war crimes" thus really "paying dues" for the family enterprise).

But the daughter turns out to have a brilliant engineer son (Ferdinand Piech), a "chip off the old block" of Grandpa and a goer and doer. Son has grandsons also, but with other interests really (Porsche Design, etc.), until Wolfgang, the last who seems to be the Porsche cars man. All are "OWNERS" of the company and on the Board, however.

Once this smart, agressive Piech grandson gets into development at Porsche, things start to happen. Porsche fields a WORLD KILLER 1000hp race car (the 917,,,still in many ways not surpassed), brought to fruition under the guidance of this Piech grandson. Not long after, the Porsche Board votes to ban family members from operational management of the company!

So Ferdinand Piech takes a job with Audi, and the rest is history: emerging dominance in the luxury performance field, pioneering all-wheel drive, aluminum construction, etc; dominating in rallying, Pike's Peak, LeMans, bringing out the R8!!!! And he ends up Chm. of the Board of the whole VAGroup!! (while still on the Board @ Porsche with his cousins!)

But, my original point: one HAS TO wonder if there wasn't acrimony and spite in all this. If that's what led one set of the cousins to block the ambitious and talented son of "auntie," well, I guess they're getting it back in kind, aren't they!

Just idle speculation!