Porsche Crumbles Amid Giant Loss
Due to CEO Wendelin Wiedeking’s failed effort to acquire VW, Porsche’s total 2009 loss came to an astounding €4,400,000,000, or $6,500,000,000. The number is incredible given that Porsche was the most prosperous car company a year earlier, and that Porsche is still an independent automobile manufacturer. (Though that will change as VW reverses the situation and takes a large stake in Porsche.) Looking at the Panamera, we’re not holding much hope for the once-proud German nameplate–but we are loving the new Boxster Spyder.
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