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Wiedeking to be offered $140 million to quit Porsche, report says
Fri, 17 Jul 2009Porsche 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.
VW Boss Martin Winterkorn on the new Hyundai i30: Nothing Rattles!
Fri, 23 Sep 2011VW's Martin Winterkorn prods and pokes the new Hyundai i30 If you’re looking for a benchmark in quality mainstream cars, you can’t do a great deal better than cars from the VW group. From VW to Audi, Skoda to SEAT, VW knows how to bolt a car together so everything has a pleasing tactility. So a visit by VW boss Martin Winterkorn to the Hyundai stand at the Frankfurt Motor Show could have been to see just how far the competition from Korea still has to go.
Cattle Baron's Ball makes its return to Detroit
Thu, 29 Sep 2011Comedian Jay Mohr, the guys from West Coast Customs and singer Kid Rock will be just a few of the stars at the ninth-annual Cattle Baron's Ball, being held at Joe Louis Arena on Oct. 29. The event that benefits the American Cancer Society moves back to Detroit proper for its annual "cowboy" black-tie event.