The European Commission has stated that the law protecting Volkswagen from foreign takeovers is illegal. The EU Court is scheduled to rule next week on the matter but normally follows the Commission's guidelines.

Of course, right now Porsche with 31%, and Lower Saxony with over 20% retain a majority holding in Volkswagen AG so the threat of outside takeovers is rather moot, this does clear the way for Porsche to acquire more shares in the company. While Porsche's recent overtures to shareholders were made only as a matter of course, offering below market price, they do retain options to purchase more equity in the company. And, with Porsche on the board, and Ferdinand Piech sitting along side, I personally see Volkswagen (and Audi, Lambo, Bentley, etc.) only benefiting from the new direction that Porsche's involvement entails. Maybe it's a good time to invest in VW?

The Cayenne Tony S. gave Carmela was auctioned off for with the proceeds going to Andre Agassi's very worthy charity on Oct. 9th last. Although Tony said that it was a 'Turbo' in reality it was Cayenne S. The winning bidders actually offered $90,000 but the auctioneer, Jack Williams, threw in $10,000 of his own money to bring the total to a neat 100G's.

The Andre Agassi Charitable Foundation benefits 'at-risk' kids in Southern Nevada. Also performing at the charity gala were Porsche-fan-extraordinaire, Jerry Seinfeld, Kelly Clarkson, Hall and Oates, Carlos Santana, Matchbook 20, and Tony Bennett. Since its' inception, the charity has raised more than $20 million. The website is at www.agassifoundation.org.