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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.

Most drivers say no to toll roads

RADICAL Government proposals to privatise some roads in the UK and for companies to charge a toll have been rejected by drivers. Seventy-seven per cent of drivers say they would avoid toll roads and use another route to avoid paying to drive on a road. The government is considering handing over the running of some roads to private companies as part of the Infrastructure Bill as recommended in the Cook Report.

Nissan expects to gain as Ford exits the compact-pickup segment

Nissan North America believes there is life in the compact pickup market that Ford Motor Co. is leaving behind. Especially now that Ford is leaving it behind.