Microsoft and Volkswagen team up for in-car file storage

Filed under: Etc., Technology, Volkswagen

volkswagen and microsoft logosThe House that Gates Built has teamed up with the Volkswagen Group to develop the next generation of automotive information and entertainment delivery strategies.

A firm called e.solutions supplies Volkswagen with its infotainment software. Microsoft has signed an agreement to license its Extended File Allocation Table (exFAT) technology to e.solutions, which allows the software developer to squeeze more information into smaller spaces. Also, the speed at which that data can be accessed will get a shot in the arm. Read more about this partnership in the full press release posted after the jump.

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Microsoft and Volkswagen team up for in-car file storage originally appeared on Autoblog on Sat, 07 May 2011 12:33:00 EST. Please see our terms for use of feeds.

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Report: U.S. hedge funds file lawsuit against Porsche, traders unconcerned

Filed under: Government/Legal, Porsche, Earnings/Financials

Porsche badge A group of New York hedge funds have filed suit against Porsche for cornering the market on Volkswagen stock, according to Reuters. The lawsuit claims that the German automaker caused $1 billion in losses by discreetly buying up every freely traded share of Volkswagen stock in an attempt to take over the company in 2008. When Porsche revealed what it had done, Volkswagen stock prices leapt. The hedge funds, meanwhile, had bet big that Volkswagen shares would actually see a dip, and the reversal caused major losses.

The plaintiffs include Greenlight Capital LP, Tiger Global LP, Glenhill Capital LP and Glenview Capital Partners LP among others.

Porsche has rejected the allegations as inadmissible and unsubstantiated. Some of the hedge funds included in this lawsuit were part of a similar filing that failed against the automaker last year. That lawsuit caused some concern about whether or not Porsche’s merger with Volkswagen would sail on smooth seas, but thus far, at least, investors seem less concerned about the latest legal woes.

[Source: Reuters]

Report: U.S. hedge funds file lawsuit against Porsche, traders unconcerned originally appeared on Autoblog on Wed, 16 Mar 2011 17:40:00 EST. Please see our terms for use of feeds.

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Report: Motorists file class action suit against Florida toll road for… taking hostages?

Filed under: Government/Legal, Safety

toll booth

Florida motorists are officially fed up with the actions of the Florida Department of Transportation (FDOT) and Faneuil Inc. The latter is a private firm hired by the FDOT to manage its tollbooth operations. A class-action lawsuit filed against both parties alleges that toll booth operators have been holding cash-paying motorists hostage.

Paying with cash causes an increase in operating costs for Faneuil because workers are needed to handle the money and provide change. In an apparent attempt to dissuade drivers from paying with cash, tollbooth operators are required to fill out Bill Detection Report. The driver’s license plate number, vehicle make and model and driver’s license information are all written down. The barrier isn’t lifted until this information is provided, and many motorists feel this policy is out of control. For its part, Faneeil would prefer that drivers switch to the automated SunPass system, which would help reduce operating costs.

The lawsuit alleges that civil rights are being violated and claims this is a form of false imprisonment. Neither the FDOT or Faneuil have commented on the lawsuit.

[Source: TheNewspaper.com | Image: Getty]

Report: Motorists file class action suit against Florida toll road for… taking hostages? originally appeared on Autoblog on Wed, 23 Feb 2011 13:32:00 EST. Please see our terms for use of feeds.

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Former Chrysler execs file class-action suit over pension losses

Filed under: Government/Legal, Chrysler, Mercedes-Benz

More than 450 executives from Chrysler’s white collar force, going all the way back to Lee Iacocca, have sued Daimler and Cerberus for gutting the value of their collective supplemental pensions to the tune of $100 million. They class action suit took the noted step of not suing Fiat-owned Chrysler, with the lead attorney saying that “Everybody involved in this suit loves that company and like everybody else wants to see it succeed.”

Plaintiffs accuse Daimler and Cerberus of not adequately protecting the supplemental pensions from creditors as Chrysler’s health slid from trouble to terminal. Those pensions weren’t moved to the new Chrysler, and now the former execs are paying the price. Follow the jump for a press release from the lead firm handling the case.

[Source: AFP]

Continue reading Former Chrysler execs file class-action suit over pension losses

Former Chrysler execs file class-action suit over pension losses originally appeared on Autoblog on Sun, 12 Sep 2010 11:07:00 EST. Please see our terms for use of feeds.

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