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Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

MSN Cars' Ian Dickson and Steve Walker to leave

Microsoft MSN Cars' journalists Ian Dickson (above left) and Steve Walker (right) are to leave the team at the end of 2013. The pair, who produce much of the content you read here day-to-day, have notched up an impressive 10 and a half years' combined service between them. Senior editor Ian Dickson joined MSN Cars in September 2006, while content editor Steve Walker arrived in September 2010.

Chevrolet Corvette Grand Sport (2010) first picture

Corvette Grand Sport (2010) first pictures By Ben Pulman First Official Pictures 27 April 2009 09:14 Despite the hard times, General Motors is pushing ahead with launching new product. Its latest model is this Corvette Grand Sport, and while it won’t revive the company’s fortunes, at least it’ll help ‘Vette enthusiasts forget about the future. It’s a wide-body ‘Vette with track-tuned suspension.