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Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

Need to report a POTHOLE? Government-backed App makes it easy

Need to report a POTHOLE? Government-backed App makes it easy There can’t be many motorists in the UK who haven’t fallen foul of our pitted and potholed roads (one of the Cars UK team had a £1500 suspension re-build bill last year), so anything we can do to point out what needs doing is a bonus. So the news that the government is backing an App to report potholes in the UK to the tune of £30,000 is good news (assuming the reported potholes get acted on).

Ginetta G60 revealed with a Mustang engine in the middle

Ginetta G60 Ginetta don’t have the biggest profile in the car world, but they’ve been around – on and off – for over 50 years. Based until the late ’80s up the road from us in Witham, Ginetta was bought by a bunch of enthusiasts, relocated to Yorkshire and seems to be doing alright after a change of ownership in 2007. Alright enough to reveal the Ginetta G60 this week, anyway.