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Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

2009 Mini Convertible Springs In

It’s been a bit of a ‘Mini-Fest’ this week, what with the Mini E in Berlin and the news that the Mini is the least depreciating car in the UK. And now we have the first official images of the new Mini Convertible, due to hit showrooms in Spring 2009. Based of course on the latest Mini, the convertible keeps the familiar face, but has a raised shoulder line to accommodate the soft-top.

Kia KH

These official sketches of the Kia KH preview an all-new flagship sedan that will also be the brand's first rear-wheel drive car, notwithstanding last year's GT concept. The classically proportioned three-box sedan appears to feature a blend of Kia design cues and the influences of other luxury models. The KH sports the Kia tiger-nose grille, framed by large, detailed lamp graphics and contoured hood.