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Old 05-25-2009, 03:54 PM   #1
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Porsche debt problem.

Had no idea Porsche was in such dire straits back in March. Saw this over on PPBB...

http://www.spiegel.de/international/business/0,1518,626666,00.html

Right down to the wire.

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Old 05-26-2009, 07:42 AM   #2
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The first think you learn in business school is the difference between cash flow and accounting profits.

Looks like these guys forgot about that.

I have to say, I would LOVE to see Piech end up broke. He started all of this nonsense and he should pay dearly for his hubris.

IMHO.

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Old 05-26-2009, 08:21 AM   #3
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You also have to play the "What If" game and plan for the worst while hoping for the best. What if the world economy tanks and debts come due?

How far down will our pants be? Hmmm. Pretty far in Porsche's case.
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Old 05-26-2009, 08:30 AM   #4
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They all forgot that you don't build a car company by trading leveraged stock options. You build a car company by building cars.
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Old 05-26-2009, 09:21 AM   #5
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Quote:
Originally Posted by Brucelee
The first think you learn in business school is the difference between cash flow and accounting profits.

Looks like these guys forgot about that.

I have to say, I would LOVE to see Piech end up broke. He started all of this nonsense and he should pay dearly for his hubris.

IMHO.


I'll second this.
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Old 05-26-2009, 09:36 AM   #6
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Funny thing is, Porsche is doing better than all the other car companies.... so what does that tell us? We were lucky enough to only get the half retarded clowns running the show not the fully autistic ones.


I think the executives at Porsche think the company slogan applies to them "Porsche, there is no Substitute..." I think its about time they get replaced, and I believe they will because the Porsche family is not happy with the way things are being run.

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They all forgot that you don't build a car company by trading leveraged stock options. You build a car company by building cars.
I second that.
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Old 05-26-2009, 11:25 AM   #7
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Quote:
Originally Posted by derb
Had no idea Porsche was in such dire straits back in March. Saw this over on PPBB...

http://www.spiegel.de/international/business/0,1518,626666,00.html

Right down to the wire.
I read some info on thetruthaboutcars.com that said not down to the wire but they actually were out of cash. Needed 700M loan from VW to stay afloat. Now VW is again considering buying Porsche.

Funny the difference a day makes.
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Old 05-26-2009, 11:30 AM   #8
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These rich guys like Piech can't get their ego out of the way of making cars.

It is time for him to retire for good before he ends up working for Angela Merkel.
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Old 05-26-2009, 11:33 AM   #9
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Quote:
Originally Posted by Topless
They all forgot that you don't build a car company by trading leveraged stock options. You build a car company by building cars.
The sad part is that while building (and selling) fine cars, they played roulette with the financial underpinnings of the company.

Personally I was hoping for some revenge against VW for the screwing they gave Porsche with the 914-6's excessive cost.
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Old 05-26-2009, 02:43 PM   #10
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I wonder if there are any similar discussions going on on GM boards or Chrysler boards.
Personally I don't care too much about Porsche's financial woes, they WILL not go out of business, and I don't have any Porsche stock.
I just happen to drive one of their cars (which I will freely admit sometimes like more than my wife ) but that's about it.

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