Word: ferdinands
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There is another lesson in Wiedeking's downfall, a lesson unlikely to be lost on automotive executives, investment bankers or even European Union bureaucrats: Volkswagen is not just any German company. Wiedeking lost his bid for control of VW when he lost the support of Ferdinand Piech, the VW supervisory board chairman who initially backed a Porsche takeover. Piech realized that Christian Wulff, the premier of the state of Lower Saxony, which holds a blocking stake in the carmaker, would not support a takeover. All Wulff had to do was use the so-called Volkswagen...
...players in the feud are Ferdinand Piech and Wolfgang Porsche, both of them grandsons of the visionary automotive engineer Ferdinand Porsche, who invented both Porsche and VW back in the 1930s. Wolfgang Porsche is chairman of Porsche, while his cousin Piech is chairman...
...Porsche announced the U-turn late on Wednesday after a series of intense meetings between Wolfgang Porsche and Ferdinand Piech, the patriarchs of the families that control the two iconic German companies. Now, VW and Porsche will enter weeks of intense talks to thrash out the final structure of a merger that will add Porsche as a tenth brand to VW's stable, which already includes Audi, Bentley and Czech manufacturer Skoda, as well as the VW brand. (See the 50 worst cars of all time...
...some old favorites, like the U.S. Declaration of Independence and Bill of Rights as well the constitutions of numerous countries. There are also gems like the first printed edition of the 16th-century Japanese novel The Tale of Genji, and a journal kept by a Venetian scholar who accompanied Ferdinand Magellan on his voyage around the world. If English is more your speed, try the translation of a French voyager's tour of the Indian Ocean - maybe a safer trip than it is today...
...money will go to domestic carmakers. In Germany, sales of the Volkswagen Polo and Opel Corsa have been boosted by the government's initiative, but a surge in orders for Italy's Fiat and Renault of France means "two-thirds of the additional sales are imported cars," says Ferdinand Dudenhöffer, an auto-industry expert at the University of Duisburg-Essen. "And most of the German cars which are booming are at least partly produced elsewhere...