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14 trades turn phone into Porsche

Wed, 07/21/2010 - 23:42 by Pankaj Damin

Glendora, Calif. -- A California 17-year-old said a series of 14 creative Craigslist swaps, beginning with an outdated cellphone, earned him a 2000 Porsche Boxster S.

Steven Ortiz of Glendora said he first offered the cellphone for trading on the Web site about 2 years ago and the experience led to a series of trades that saw him briefly owning a dirt bike, a MacBook Pro, a 1987 Toyota 4Runner and the 1975 Ford Bronco he traded for the Porsche, KTLA-TV, Los Angeles, reported Wednesday.

Porsche CEO out, VW bid possible

Thu, 07/23/2009 - 18:16 by Inderjit Singh

Stuttgart -- Porsche announced Thursday Wendelin Wiedeking, its longtime chief executive, is stepping down, a move observers say may hasten a Volkswagen takeover.

Also leaving the German company along with Wiedeking, who ran things at Porsche for 17 years, was Holger Haerter, Porsche's chief financial officer, CNN reported.

Michael Macht, who has been head of production, will become the new chief executive, Porsche said in a statement.

Wiedeking had long opposed a merger with Volkswagen.

The board was said to have decided to pursue a capital increase of 5 billion euros (about $7 billion) and to enter negotiations with Qatar Holdings, both steps toward creating an "integrated" company with Volkswagen.

The circuitous road to Porsche, Volkswagen deal

Mon, 07/20/2009 - 19:05 by Jamie Anderson

Germany, July 20: Porsche SE (Xetra: PAH3, FWB: PAH3) and Volkswagen (FWB: VOW), the two German automobile manufacturers have been seeking to build an integrated car company since May, but in vain.

Porsche sales slide 28 percent

Fri, 06/19/2009 - 18:41 by Jamie Anderson

Frankfurt, Germany, June 19: Porsche Automobile Holding SE, the manufacturer of luxury, high performance automobiles, has reported 28 percent slump in its nine-month unit sales.

Porsche still in talks with QIA

Wed, 06/17/2009 - 21:33 by Jamie Anderson

Dubai, June 17: Qatar will reveal the outcome of the parleys with Porsche SE (Xetra: PAH3, FWB: PAH3), which are primarily centered around the size of the stake that the government will buy in the besieged German sports car maker, in two to three weeks.

Merger talks between Porsche and VW collapse

Mon, 05/18/2009 - 20:01 by Jamie Anderson

Frankfurt, Germany, May 18: Porsche AG (Xetra: PAH3; FWB: PAH3) and Volkswagen (FWB: VOW; TYO: 7659) called off merger talks barely a fortnight after the families having controlling stake in the automakers initiated the parleys.

VW and Porsche likely to merge

Thu, 05/07/2009 - 16:39 by Jamie Anderson

Stuttgart, Germany, May 7: After a bumpy and belligerent ride spanning four years of corporate deal making, Porsche AG (Xetra: PAH3; FWB: PAH3) and Volkswagen (FWB: VOW; TYO: 7659) appear to be motoring along nicely towards their marriage.