Who wants to sack Porsche's board of directors?
12-06-2003, 12:29 PM
#1
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Thread Starter
Who wants to sack Porsche's board of directors?
How about we all buy Porsche shares and start a motion to sack Porsche's board of directors? 
Porsche is probably the biggest passion in my life. If they start building trucks, scooters, pizza delivery vans, etc it will be a great loss to me and from what I read in here, many of you too. I am appalled by the board's recent direction, but unless I am a shareholder my opinion will never be heard.
Who'll join me? Even if the motion weren't carried, it might give the board something to think about
Porsche is probably the biggest passion in my life. If they start building trucks, scooters, pizza delivery vans, etc it will be a great loss to me and from what I read in here, many of you too. I am appalled by the board's recent direction, but unless I am a shareholder my opinion will never be heard.
Who'll join me? Even if the motion weren't carried, it might give the board something to think about
Last edited by graham_mitchell; 12-06-2003 at 01:02 PM.
12-07-2003, 12:54 AM
#5
Rennlist Member
Porsche AG claims that they are trying to stay independent. As long as they make high performance sports cars, I don't care what else they manufacture as much as I care about how well they manufacture it.
Having said this, I'm not happy with all that they are doing either. The vote with your purchase power is a fair practice. They need to offer better "street/track" "Club Sport" packages. The GT3 is too heavy and needs to go on a diet! Not offering the US Spec GT3 model with the seat/roll bar/fire extinguisher package is unfair.
Having said this, I'm not happy with all that they are doing either. The vote with your purchase power is a fair practice. They need to offer better "street/track" "Club Sport" packages. The GT3 is too heavy and needs to go on a diet! Not offering the US Spec GT3 model with the seat/roll bar/fire extinguisher package is unfair.
12-07-2003, 12:54 AM
#6
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I don't think throwing out management is enough. Think about it. If you walk into a Porsche dealer today your only choices are a Carrera GT, GT2, GT3, 996TT, 996TT cab, C4S, C4S cab, 996, 996 cab, Boxster S, Boxster or a 175 MPH Pepper. Of course you could also buy a GT3 cup car or, if you a few connections and some serious cash, a Daytona winning GT3 RS.
Obviously Porsche is no longer a sports car company. I say we burn them at the stake!
Obviously Porsche is no longer a sports car company. I say we burn them at the stake!
12-07-2003, 01:23 AM
#7
Banned
Thread Starter
Jim, that's a bit skewed - you had about 8 911s in there
I dream about the Carrera GT, I like the Boxster, and I respect the Cayenne's ability, even though I don't particularly it. My concern is about:
1) exclusivity (unlike the shareholders I don't want Porsche to sell more and more cars each year)
2) build quality (increasingly cheaper finishes, shared parts, less 'over-engineering')
3) rumours of a 4 door 911! That would make the 911 as we know it a two door version of a family car
My whole lifetime, the name 'Porsche' has been synonymous with 'sports car'. That all ended this year, and looks like getting worse. Even the controversial 924 and 944 models were basic sports cars. I don't see any justification for it either, other than fattening the wallets of a select few.
I dream about the Carrera GT, I like the Boxster, and I respect the Cayenne's ability, even though I don't particularly it. My concern is about:
1) exclusivity (unlike the shareholders I don't want Porsche to sell more and more cars each year)
2) build quality (increasingly cheaper finishes, shared parts, less 'over-engineering')
3) rumours of a 4 door 911! That would make the 911 as we know it a two door version of a family car
My whole lifetime, the name 'Porsche' has been synonymous with 'sports car'. That all ended this year, and looks like getting worse. Even the controversial 924 and 944 models were basic sports cars. I don't see any justification for it either, other than fattening the wallets of a select few.
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12-07-2003, 03:51 AM
#10
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True objectives
May I please sneak in a few words?
Porsche is a d e s i g n firm. The cars they build are only a part of their business, and their passion. They consult for other manufacturers, such as Cadillac and the Northstar V8, Volkswagen, etc. They also test their designs at Weissach. It truly would be tragic if the world lost such an influential design source as Porsche. Hey, the original Porsche was a hobby/labor of love was it not? They are evolving. The world's organisms are constantly evolving, changing, responding to the pressures that threaten their existence. I feel fortunate that I have lived in a time that allowed me to possess and enjoy 8 Porsches so far, and hopefully more to come. Just that I had the exposure was a joy not everyone has had or would understand. But evolution continues, and Ferdinand Porsche felt, after such successes as the original 911, the 904, etc. that he would rather head his own industrial design firm. He has nothing to prove, that's for sure. Probably things would be different if he had not made that decision. Think of Colin Chapman and the Lotus, and John DeLorean and his cars. Unusually bright lights in the history of the world, that have evolved but left something unrivaled for us to remember. I once had a thing about a girl, not just any girl. S**t! She died. But I was lucky to know her, and now I have moved on. Thankfully I still own 2 Porsches, and as with most Porsches, they are both unique in their own right. Thankfully, indeed. I have already won.
Porsche is a d e s i g n firm. The cars they build are only a part of their business, and their passion. They consult for other manufacturers, such as Cadillac and the Northstar V8, Volkswagen, etc. They also test their designs at Weissach. It truly would be tragic if the world lost such an influential design source as Porsche. Hey, the original Porsche was a hobby/labor of love was it not? They are evolving. The world's organisms are constantly evolving, changing, responding to the pressures that threaten their existence. I feel fortunate that I have lived in a time that allowed me to possess and enjoy 8 Porsches so far, and hopefully more to come. Just that I had the exposure was a joy not everyone has had or would understand. But evolution continues, and Ferdinand Porsche felt, after such successes as the original 911, the 904, etc. that he would rather head his own industrial design firm. He has nothing to prove, that's for sure. Probably things would be different if he had not made that decision. Think of Colin Chapman and the Lotus, and John DeLorean and his cars. Unusually bright lights in the history of the world, that have evolved but left something unrivaled for us to remember. I once had a thing about a girl, not just any girl. S**t! She died. But I was lucky to know her, and now I have moved on. Thankfully I still own 2 Porsches, and as with most Porsches, they are both unique in their own right. Thankfully, indeed. I have already won.
12-07-2003, 10:43 AM
#11
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Graham
I think you'd have a better chance of influencing the direction of the company by changing your name to Piech, and convincing the board that you are a long-lost branch of the family.
Wendelin and the board dance for the Piech and Porsche families. If the heirs want to win Le Mans, it'll happen. If they want a return on their investment, we'll get the company we see now.
JimB
You crack me up. You might also have mentioned after the Cup car and GT3 RS reference that nobody in the world makes more purpose built race-cars.
Ron H
You left out that motorcycle company in Milwaukee.
I think you'd have a better chance of influencing the direction of the company by changing your name to Piech, and convincing the board that you are a long-lost branch of the family.
Wendelin and the board dance for the Piech and Porsche families. If the heirs want to win Le Mans, it'll happen. If they want a return on their investment, we'll get the company we see now.
JimB
You crack me up. You might also have mentioned after the Cup car and GT3 RS reference that nobody in the world makes more purpose built race-cars.
Ron H
You left out that motorcycle company in Milwaukee.
12-07-2003, 11:06 AM
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Re: Who wants to sack Porsche's board of directors?
Originally posted by graham_mitchell
... I am appalled by the board's recent direction, ...
... I am appalled by the board's recent direction, ...
I saw an earlier thread about an upcoming 997 (with pictures) that seems to bring back a little more of the body curves that many here like so much about the 993 (as opposed to the 996 body style). Are they being bought out or merging with another company (aka chrysler/mercedes) or is it that they are diversifying their product line with SUVs?
They only thing they have done that bothered me was the body style change from the 993 to the 996. Even the 996 Turbo bodies dont really do it for me the way the flared curves of the 993 look. Th best is the 993 S body style, but I am a cabriolet fanatic and really wish they had made a C2/4S 993 cab. I've had a 991SC Targa and two 993 cabs, and the newer style cabs (996 era, even the new turbo cab) with their humped up or bubbled up rear trunk areas (to keep the cab top hidden I assume) and lack of accentuated fender curves makes it look far less attractive than the 993. But other than that, have they made more recent changes to strategy or announced something of interest?
12-07-2003, 11:46 AM
#14
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Patentman
This is a Reuters story from this morning's Chicago Tribune:
Porsche said to be eyeing sedan as next auto
By Nick Tattersall
Reuters
Published December 7, 2003
FRANKFURT -- German sports car maker Porsche is
close to building a new four-seater coupe or sports
sedan, industry experts said.
The world's most profitable carmaker branched out into a new niche a year ago
with a sport-utility vehicle, the Cayenne, a strategy which helped maintain growth
as demand for its traditional 911 and Boxster cars waned.
But as its sports car sales continue to slide and the initial impact of the Cayenne
subsides, the company has said profits could be flat this year, disappointing
investors.
"There is a good chance that a fourth model announcement could encourage the
idea that Porsche is once again a growth story," Goldman Sachs analysts said in
a recent note.
"We believe Porsche's fourth model plans are already advanced, with the car's
development under way, suppliers closely involved and, according to our sources,
prototypes now testing on private tracks," Goldman Sachs analysts said in a
recent note.
Porsche is now expected to make a decision early next year, with the car not
expected to hit the market until 2006 or 2007.
Chief Executive Wendelin Wiedeking has merely hinted that the vehicle could
take Porsche into a new niche and attack rivals where they don't expect it, telling
a German newspaper recently: "We'll have even fewer friends in the car industry."
Speculation has been rife about what the model could be--ranging from a baby
SUV to a luxury executive car--but the favorite is a four-seat sports coupe or
sedan.
The new model is likely to use parts from the Cayenne, developed with Europe's
biggest carmaker Volkswagen, and could be based either on an entirely new
platform or on another base shared with VW, experts say.
"As an engineering base it's a toss-up between two options," said Mark Fulthorpe
of industry research group CSM Worldwide.
"One could be the current base that they share with VW for the Cayenne. The
other is to get a similar agreement with VW to utilize the platform which VW will
use for vehicles like the Audi A8 and the Phaeton."
Such a move could also benefit VW, allowing it to get more volume from a luxury
car platform which has proved costly.
VW has said it is working on a platform for a new mid-sized luxury model which
industry experts say could also be used by Italian sports car maker Maserati,
and form an ideal base for Porsche's new car.
VW declined to comment.
But other analysts said that Porsche, which made $1.13 billion before tax in its
last business year to the end of July, has enough cash to develop a new platform
on its own and note its high levels of capital expenditure this year.
Industry experts also question the logic of rivals helping Porsche develop a car
which will ultimately attack them on what they might long have thought of as safe
territory.
"Porsche has historically relied on the generosity of the German industry, like
developing the Cayenne with VW. If they're going to take the industry on in such
a lucrative sector why would anyone help them out," one industry watcher said.
Copyright © 2003, Chicago Tribune
This is a Reuters story from this morning's Chicago Tribune:
Porsche said to be eyeing sedan as next auto
By Nick Tattersall
Reuters
Published December 7, 2003
FRANKFURT -- German sports car maker Porsche is
close to building a new four-seater coupe or sports
sedan, industry experts said.
The world's most profitable carmaker branched out into a new niche a year ago
with a sport-utility vehicle, the Cayenne, a strategy which helped maintain growth
as demand for its traditional 911 and Boxster cars waned.
But as its sports car sales continue to slide and the initial impact of the Cayenne
subsides, the company has said profits could be flat this year, disappointing
investors.
"There is a good chance that a fourth model announcement could encourage the
idea that Porsche is once again a growth story," Goldman Sachs analysts said in
a recent note.
"We believe Porsche's fourth model plans are already advanced, with the car's
development under way, suppliers closely involved and, according to our sources,
prototypes now testing on private tracks," Goldman Sachs analysts said in a
recent note.
Porsche is now expected to make a decision early next year, with the car not
expected to hit the market until 2006 or 2007.
Chief Executive Wendelin Wiedeking has merely hinted that the vehicle could
take Porsche into a new niche and attack rivals where they don't expect it, telling
a German newspaper recently: "We'll have even fewer friends in the car industry."
Speculation has been rife about what the model could be--ranging from a baby
SUV to a luxury executive car--but the favorite is a four-seat sports coupe or
sedan.
The new model is likely to use parts from the Cayenne, developed with Europe's
biggest carmaker Volkswagen, and could be based either on an entirely new
platform or on another base shared with VW, experts say.
"As an engineering base it's a toss-up between two options," said Mark Fulthorpe
of industry research group CSM Worldwide.
"One could be the current base that they share with VW for the Cayenne. The
other is to get a similar agreement with VW to utilize the platform which VW will
use for vehicles like the Audi A8 and the Phaeton."
Such a move could also benefit VW, allowing it to get more volume from a luxury
car platform which has proved costly.
VW has said it is working on a platform for a new mid-sized luxury model which
industry experts say could also be used by Italian sports car maker Maserati,
and form an ideal base for Porsche's new car.
VW declined to comment.
But other analysts said that Porsche, which made $1.13 billion before tax in its
last business year to the end of July, has enough cash to develop a new platform
on its own and note its high levels of capital expenditure this year.
Industry experts also question the logic of rivals helping Porsche develop a car
which will ultimately attack them on what they might long have thought of as safe
territory.
"Porsche has historically relied on the generosity of the German industry, like
developing the Cayenne with VW. If they're going to take the industry on in such
a lucrative sector why would anyone help them out," one industry watcher said.
Copyright © 2003, Chicago Tribune
12-07-2003, 12:16 PM
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Originally posted by graham_mitchell
Patentman, I did make three points above but in retrospect, my language was a bit over the top. I just got a bit carried away
Patentman, I did make three points above but in retrospect, my language was a bit over the top. I just got a bit carried away
The quoted story from the newspaper was quite interesting. IMO, if that is what it takes to stay competitive, it might be good for them (Porsche) to diversify a bit more. I think most of us realize that if you only stick to what you know or are good at and dont take some calculated risks, you can lose out bigtime to competitiors in any type of business, get left behind, become an acquisition target, etc.. To me, it is refreshing and reassuring in some ways to know that Porsche is venturing out a bit more (SUVs, now a passenger coupe of some sort, I like their bicycles alot (but dont have one)).
I don't believe another car, maybe less sporty and more sedate, will dilute the essence of their 911 sportscar flagship line that has made them largely what they are in the car market today. It might cause Porsche lovers to buy the Porsche brand in other areas of the market. As an example, I would be interested in knowing if Cayenne owners owned (or formerly owned) another Porsche. My guess is that there is a fairly decent percentage that did or do own another P car. If this is true, I wonder if it is becuase the Cayenne is a better market choice that other similarly priced SUVs (maybe a loaded Volvo or BMW?) or is it more brand loyalty.
I guess I just assume that upper management at Porsche has done enough homework to have determined that it is in the companies long term interest as a whole to go in this direction. I would also assume they are smart enough to know to keep the 911 land sportscar/racing legacy alive and well.