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Wiedeking to be offered $140 million to quit Porsche, report says

Fri, 17 Jul 2009

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

Volkswagen Touareg R50

Mon, 15 Oct 2007

By Ben Pulman Motor Shows 15 October 2007 12:42 Let me guess…some fuel-guzzling, turbocharged behemoth? It might be a diesel, but yes, it’s still all of the above. Ths is VW’s new R50 and it’s the latest car from VW Individual, the same engineering group responsible for the Golf R32, Passat R36, and the Bluemotion range, including the Polo.

Jaguar Land Rover sorts its finance

Tue, 11 Aug 2009

Tata has secured £175 million private funding for Jaguar Land Rover But it is now being reported that JLR has managed to secure £175 million in private funding, obviating the need to succumb to Government interference in its business. Which has got to be good news for the JLR workforce – at least for now. Jaguar and Land Rover are very much on the up.