Porsche drops on plan to take VW stake
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AudiWorld Member
Joined: Apr 2003
Posts: 366
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From: Fort Lauderdale, FL
Porsche drops on plan to take VW stake
http://news.yahoo.com/news?tmpl=story&cid=568&ncid=568&e=14& amp;u=/nm/20050926/bs_nm/autos_porsche_volkswagen_dc_1
Crazy! We live in a world where smaller companies can leverage buyouts with larger corporations. KMART files Chapter 11, comes back and buys Sears, should be illegal!
I've owned VW, Audi, Mercedes, and BMW. I like Porsche and I am sure they make great cars but how does a car with 10% of VW sales think they can leverage a buyout? Maybe it would not change things much at VW as Piech's family heritage dates back to Ferdi Porsche.
I think the press release should read VW buys back Porsche. It used to be VW owned Porsche/Audi. What makes Porsche think they can come back and own the party? I dont think it could happen but in this day and age, you never know. It would be like Tom Siebel buying Oracle or Mc Neely (Sun Microsystems) buying out IBM.
Would you continue to support the brand if Porsche owned Audi? Yes, I saw it says "stake." Wasnt it Porsche that went down to 15,000 US sales in the early 90s after the divorce from VW/Audi and had to get Honda in to help a turnaround?
Crazy! We live in a world where smaller companies can leverage buyouts with larger corporations. KMART files Chapter 11, comes back and buys Sears, should be illegal!
I've owned VW, Audi, Mercedes, and BMW. I like Porsche and I am sure they make great cars but how does a car with 10% of VW sales think they can leverage a buyout? Maybe it would not change things much at VW as Piech's family heritage dates back to Ferdi Porsche.
I think the press release should read VW buys back Porsche. It used to be VW owned Porsche/Audi. What makes Porsche think they can come back and own the party? I dont think it could happen but in this day and age, you never know. It would be like Tom Siebel buying Oracle or Mc Neely (Sun Microsystems) buying out IBM.
Would you continue to support the brand if Porsche owned Audi? Yes, I saw it says "stake." Wasnt it Porsche that went down to 15,000 US sales in the early 90s after the divorce from VW/Audi and had to get Honda in to help a turnaround?
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Joined: Sep 2004
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I don't think Kmart bought Sears.
They just had to change their name, because Sears had some retirement plan. They started a long time ago and now people who started to pay a long time ago, try to claim their pension from Sears. If there is no more Sears, they can keep the money. ( I think they spent it already )
AudiWorld Member
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Re: I don't think Kmart bought Sears.
My daughter works part time for Kmart-Sears at a Sears Essentials store. KMART used its real-estate holdings to finance the purchase of Sears. I think it is a joke though. Now they are both doomed.
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Sears employees don't lose their pension.
Even if Sears ends their defined benefit pension plan, all full-time employees with more than 10 years service have vested benefits that absolutely cannot be lost.
The only way a Sears employee could potentially lose even part of his pension benefits would be if Sears went bankrupt, and the pensions liability would then be assumed by the Federal Govt's Pension Insurance Program. The purchase of Sears by Kmart has prevented this, so the Sears employees' pension benefits were actually saved by the merger.<ul><li><a href="http://money.cnn.com/2004/11/17/news/fortune500/sears_kmart/">The Kmart-Sears Deal</a></li></ul>
The only way a Sears employee could potentially lose even part of his pension benefits would be if Sears went bankrupt, and the pensions liability would then be assumed by the Federal Govt's Pension Insurance Program. The purchase of Sears by Kmart has prevented this, so the Sears employees' pension benefits were actually saved by the merger.<ul><li><a href="http://money.cnn.com/2004/11/17/news/fortune500/sears_kmart/">The Kmart-Sears Deal</a></li></ul>
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