Porsche Pieche Putsch
Published: September 15th, 2008
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Last we checked in on the unfolding Porsche family drama, cousin Ferdinand “Phaeton” Piech had made a play for the CEO spot at Porsche Holdings. Turns out cousin Ferdie may have overplayed his hand by taking on Wendelin (I’d tell you my salary but then I’d have to kill you) Wiedeking, current Porsche Holdings CEO and darling of the Porsche clan. Wiedeking’s patron d’overcompensation and Porsche paterfamilias Wolfgang Porsche tells Focus Magazine (by way of Automotive News [sub]) that Piech will pay dearly for going after his Wendelin. After a particularly “turbulent” meeting of the VW advisory board, Wolfie told Focus “I am horrified by the behavior of the chairman,” and that Piech’s removal from that position was imminent. “It is not a question of ‘if’, rather ‘when’ and ‘how’,” Focus quoted one Porsche manager as saying. But don’t expect Piech to simply fade away into that good night. Sure, the Porsche clan damns him and the oversized Passat he rode in on. But Piech still has VW CEO Martin Winterkorn, the massive VW Unions and all of their paid politicians on his side. These interests aren’t backing Piech because they particularly like him or his ideas; they’re scared of Wolfie and Wendelin and their curious “profit fetish.” Is a family being torn apart because Wolfgang Porsche don’t understand the importance of company-funded brothel outings for labor leaders? Because that would just be so tragic. And hilarious. Watch this space.
More by Edward Niedermeyer
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What this needs is a who's who of the Porsche/Volkswagen empire. Pieche, Wiedeking, Wintekorn, who do they sit in this family tree? I feel like somebody who's been talked into watching Lost halfway through the second season and just saw the episode with the polar bear.
I guess the last thing we have to worry about is good old Ferdy. As per his own statement he was born as a "house" hog and has to spend his life as a "wild" hog.Kind off tells it all.The question has to be what he has on his mind. The other players ,eventhough powerful, are mere extras compared to him.
The Pieches and the Porsches have gotten along rather uneasily over the years. The other members of the families seem awful quiet through all this mess. I'm surprised that they haven't pressured both sides to shut up and fix it. With the Canton sticking its fingers in lately I would thought that this sort of divisiveness would do a lot of harm.
Good cars, but I'd consider trying to get rid of the whole family. Not making the Cayman faster, please, they can kiss my ass. Take the profits and go to hell. (probably on their way) I've been there, its not much fun. Sounds like Toyota, who is not making fast cars (well the Camry is fast, Lexus is ok). I like making money, but gsss.