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> ... just to get a sense of how much more of a clusterfuck it is than the tidbits I know about. And it all goes back to the Porsche and Piech families, which
by TacticalCoder 3y ago
> ... just to get a sense of how much more of a clusterfuck it is than the tidbits I know about.
And it all goes back to the Porsche and Piech families, which still own a majority share in VW.
But to me the most fascinating of them all is when Porsche tried a short-squeeze on VW stocks to both acquire VW and make countless billions in the process but that failed due to the... 2008 financial crisis. Without the crisis hitting, Porsche (the company, not the family) was acquiring VW.
Their short squeeze failed and Porsche lost an insane amount of money on their temporarily worthless VW stocks (the VW stock lost 75% of its value between 2008 and 2009, something insane like that) and then... VW had to rescue Porsche by acquiring Porsche.
But then as of late Porsche spun off out of VW again.
It's mindboggling stuff.
The best description I've read about Porsche (the company) is: "The hedge fund that happened to also sell cars".