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China bans military license plates on luxury autos

Driving a vehicle with a military license plate in China provides many privileges. Legally reserved for official vehicles only, the designation apparently allows drivers to enjoy special liberties on the roads, including breaking traffic laws, filling up with free fuel and receiving light-and-siren escorts through congested cities. So attractive are the benefits that there is a secondary market for used legal and counterfeit plates - especially among those wealthy enough to afford luxury cars. But all of that is reportedly coming to an end, as President Xi Jinping, chairman of the Central Military Commission, is on a mission to fight corruption in his country.
A new license plate system goes into effect today, and it is designed to "maintain social harmony, stability and the reputation of the military," says the PLA Daily, the armed forces' official newspaper. While the abuse has been going on for many years, the internet has put the spotlight on the bad behavior, and the negative press does not represent the morals and true colors of the armed forces, say officials.
While military-plated Porsche drivers have been singled out as offenders, Bloomberg notes that all vehicles with engine displacements above 3.0 liters and with a sticker price in excess of about $73,000, will be banned from receiving military plates. This includes vehicles from Audi, Cadillac, BMW, Mercedes-Benz, Jaguar, Land Rover, Lincoln and the Volkswagen Phaeton. Even if drivers are savvy enough to circumvent the new issuing system, the military has put technology at toll gates to catch users of counterfeit plates. There has been no word on the punishment if caught.

The mid-engine Porsche backstory

As an automaker's identity evolves over years, its signature becomes defined by any number of factors - heritage (Mercedes-Benz), image (Lamborghini), or market share (Toyota). In the case of Porsche, it was an engineering quirk that forged the German company's most enduring character trait.
Porsche would not have survived - let alone, thrived - in today's saturated landscape had it not been for the 911, and that slope-tailed sports car wouldn't have sprung to life without its predecessor, the 356. While phenomenal success of those rear-engine icons built the company, forays into the mid-engine configuration have played a significant part in establishing the brand's identity.
The Mid-Engine Prototype Of Ferry Porsche's Dreams

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.