Comments on: Porsche debt a massive 14 billion euros

By: Marcoz

Marcoz — Thu, 23 Jul 2009 23:51:50 +0000

Yes Imprompt Fiat does own part of Ferrari, But they do not make Ferrari’s…So what is your point?????
I still love them…great cars, great company…fiat part owned or not….!!!
:)

By: SamR

SamR — Thu, 23 Jul 2009 10:57:11 +0000

Seems like Porsche choked on the big fish VW

Baddass “And more importantly, why does Porsche want to take over Volkswagen in the first place?”

As I said in another post

They cannot be independent anymore, there are whole of car marker CO2 restrictions in place soon which means Porsche could not remain is business. Their thirsty cars have to be part of a bigger maker to “dilute” the CO2 across many smaller cars. Hence VW

By: RoFlmaTiC

RoFlmaTiC — Thu, 23 Jul 2009 09:27:30 +0000

They took out loans (ie. debt) to buy the share in VW!

Probably a questionable strategy in the first place and the GFC only made it much much worse.

By: realcars

realcars — Thu, 23 Jul 2009 08:06:08 +0000

Guessing they paid too much for extra shares in VW in the attempt to take it over hence the debt.

By: Baddass

Baddass — Thu, 23 Jul 2009 06:25:10 +0000

I know this will sound stupid, but how does a company lose 14 billion euros taking over another company? And more importantly, why does Porsche want to take over Volkswagen in the first place?

By: Imprompt

Imprompt — Thu, 23 Jul 2009 05:41:27 +0000

Marcoz Says: I love ferrari anyhow so im not too upset…heheheh

Doesn’t FIAT own Ferrari?

By: Marcoz

Marcoz — Thu, 23 Jul 2009 05:15:40 +0000

LOL @ flying high…guess he did…anyhow frugal it is $24billion in ozzi dollars for your info…
AS fro the ceo is going to get that much is that true Frugal?, that is insane especially when they are in so much trouble. not good for porsche id say. Looks like another famous company will be bought or bankrupt…
I love ferrari anyhow so im not too upset…heheheh

By: Flying High

Flying High — Thu, 23 Jul 2009 03:17:48 +0000

“…amassed 14 billion euros (US$19.75 billion) in…”

must have missed the Australian currency part

By: FrugalOne

FrugalOne — Thu, 23 Jul 2009 02:37:59 +0000

*****PRIMO!*****

Firstly, well done to C/A for showing the origonal debt in Euro and THEN also showing it in the local AUS currency, as you jolly well should!

This is a BIG debt and porker is not going to be able to pay it, VW will have to step in and save them [or the arabs as they said they would]

The really nasty bit is that the CEO walks away with $120 MILLION dollars as a golden-handshake, how could he run up such a debt and yet gladly hold out his hand for that sort of payment, have these CEO’s no shame?

Cheers,

F-0