is it a porsche ? -- is it a porsche? it depends on who you ask.ritage of this car to say the least is competent young the timing. 1939, we're talking about the not the party in germany. himself served time in jail for war crimes. he was more than associated with the nazis. mentioned --as you is coupled together with different parts, not in a way that we're used to seeing it. part of the controversy. --s car was owned for -- by he raised the car and it got crashed. it was a bunch of colors, turquoise, silver, black near the engine flipped out multiple times. it has been a lot of things. some of the original parts are still with the car. however they are not in the car. it is really getting to the nut of what his original? this car has never been restored. people say, this is the car in pristine condition. this is truly how it. what you see is what you get. other people say it have a ha p. porsche himself. american,ly controvesiltaylor:h somewhat pedestrian choice. jason: for a handful of some ofly acclaimed -- the african-american experience, the d

grandfather was ferdinand porsche the man who designed the iconic folks can be told . discovered his passion for cars and technology at an early age he studied mechanical engineering and after climbing the corporate ladder became c.e.o. of the v.w. group which was then nearly insolvent transformed the company. is good. but there are always winners and losers. and with our partners which v.w. has across the whole world i interned to be the winner. within a few years v.w. was again making a profit that laid the cornerstone for his reputation as a visionary car executive when v.w. acquired porsche was already a group chairman the merger was a long time ambition of his the father of 12 children believed v.w. and porsche belongs together. that in 2015 p.s. found himself in a power struggle with v.w. then c.e.o. martin venter corn it was a struggle ph lost and he resigned an abrupt end to a storied career. monica jones joining us now in the studio good morning monica monica p.s. was it was truly a giant in the world of course what made him such unique car executive what as y

jason: is it even a porsche?ubversion of the word ♪ taylor: welcome back to "bloomberg businessweek." jason: you can also listen to us on the radio on sirius xm channel 119, and on a.m. 1130 in new york, 106.1 in boston, 99.1 f.m. in washington, d.c. taylor: a.m. 960 in the bay area, london on dab digital, and through the bloomberg business app. moving to the pursuits section, pebble beach is the world's most prestigious car show and a porsche is expected to sell for $20 million. it promises to be the most controversial sale of the year. jason: and not because of the price tag, some say it is not even a porsche. >> this is the type 64, a car from 1939 made by ferdinand porsche himself. sotheby's is calling it type 64, and they are selling it at the next auction, however, porsche was not start until 10 years after this car was made. the car was made mostly with vw parts or parts he built himself. it has been augmented with parts from fiat and a bunch of other obscure german parts makers. so is it a porsche or isn'

cargo space hold 650 to 1870 leaders so it's maximum volume is bigger than the porsche cayenne but 180 leaders smaller than the g q 7 when it comes to rear seating space there is nothing to complain about. the interior features high quality materials and workmanship. the $12.00 inch digital instrument cluster and the identically sized infotainment system in the center console are standard. they can be operated simply and intuitively this is not the case with all manufacturers sometimes you have to work through confusing menus. not surprising the x. 5 has numerous assistance systems. we're testing the x. drive 40. with $250.00 kilowatts out put the smallest gasoline engine that's competitive with the engines porsche and mercedes offer. big screen if a man of us has the x. 5 strings go beyond driving on the road and include parking where it has some very special features. this includes a backup assist. to assist this ensures that when you drive into a space you can back you out of it automatically all you have to do is press the accelerator and break it's like this one was also. so we dr

with $250.00 kilowatts output the smallest gasoline engine that's competitive with the engines porsche and mercedes offer. thanks for the x 5 strings go beyond driving on the road and include parking where it has some very special features. this includes a backup assist. amount to assist this ensures that when you drive into a space it can back you out of it automatically all you have to do is press the accelerator and brake like this was also. so we drive around the corner here to try it out. just stop here. and then turn on the parking assistant when you're on the side you can select the back up assistant with the bad as like that and it tells him to put the car into reverse gear which he does. and it drives away and so off the steering wheel because it's so steering if all you have to do is already and accelerate and now you can see the car does the steering and so we drive backwards just the way we came in. this works for a maximum distance of 50 meters. he says this is pretty convenient especially if you have difficulty reversing. it to work with. other car makers don't offer a sy

ever built but it was still 3 years ahead of its competitors porsche and mobile as much as the other premium manufacturers brought out their issue viz even later. to either come for a mano says the ride comfort in the x 5 is already impressive it's very quiet in here that has a lot to do with sound insulation but also the windows which are thicker and absorb more outside noise. of that if this were very christian if. the feet out in q 7 a mercedes g.l. we also offer a similarly high level of travel comfort even though the luxury s.u.v.s can technically be taken off road starting prices around $70000.00 euros in germany probably mean very few people use this ability damage to vehicles like these runs up repair bills very quickly. the x 5 has an aggressive look. at them and they seem minimal says if you look at the grille here you get the feeling that automakers above all out in b.m.w. are trying to outdo each other in terms of size he finds that does. signed just too big but in other markets things are different for example in china and the u.s. it has can't be big enough it's almost

the restart will be defending porsches title in the fia world insurance championship some 95 percent of its predecessors parts have been redesigned for the new model only the seats the clutch and some parts of the suspension are the same but porsche standing by its drive technology with a 6 cylinder naturally aspirated engine. has called so linden up porsche motorsports explains that they've redesigned their for leader as a brand new 4.2 liter engine the most powerful boxster ever factory installed in a 9 eleventh's so they're carrying on the boxster tradition and they are as sharp as the engine has no power at the needs to be competitive and that was there anything. now the exhaust pipes exit on the sides and front of the rear wheel that saves weight and helps the aerodynamics when making room for a larger diffuser at the rear as per the original power rating the 911 r.s.r. achieves 515 horsepower its debut is due for the fia w e c c. and start in silverstone early in september. toyota also has a stand here for sending its latest super due to hit showroom floor just before summer's

has called so linden a porsche motor sports explains that they've redesigned their for leader as a brand new 4.2 liter engine the most powerful boxster ever factory installed in a 9 eleventh's so they're carrying on the boxer tradition and they are a shark the engine has no power and needs to be competitive and that was their aim . now the exhaust pipes exit on the sides and front of the rear wheel that saves weight and helps the aerodynamics by making room for a larger diffuser at the rear as prove your original power rating the 911 are as far as she was $515.00 horsepower its debut is due for the fia w.e.c. season starts. silverstone early in september. toyota also has a stand here for sending its who made the superrich due to good showroom floors before summer's out. of business i learned using whole front of toyota deutschland maintains this is a car that can be driven very precisely yet remains extremely comfortable even on long haul trips he describes the cars having to carry to thanks to the wonders of today's electronics. toyota's much free division lexus is celebrating a world p

california on saturday night experts had predicted that bidding for the car designed by ferdinand porsche for a race that had been due to take place in 1939 would start at $13000000.00 but things didn't go to plan. when the so the b.'s auctioneer took to the podium to call at the starting price the figure on the screen behind him wretch 30000000 not 13 that figure was followed 540-5060 finally 17000000 evoking gusts from those assembled realizing what had happened the auctioneer reportedly a dutchman who some believe had been misheard by the screen operator tried to backpedal telling potential bidders that the correct figure was 17 not 70 but the crowd was lost and the vintage car ended up without a buyer in a statement so the piece said as bidding opened on the type $64.00 increment were mistakenly displayed on the screen causing unfortunate confusion in the room we take pride in conducting our world class actions with integrity and we take our responsibility to our clients there is seriously. it's still unclear what exactly caused the blunder but the debacle marks the end to a disappoin

grandfather was fat and porsche the man who designed the iconic folk frog and beetle. discovered his passion for cars and technology at an early age he studied mechanical engineering and after climbing the corporate ladder became c.e.o. of the v.w. group which was then nearly insolvent transformed the company. scooped him up to be number one for you are always winners and losers. me and with our partners which v.w. has across the whole world i intend to be the winner. within a few years v.w. was again making a profit that laid the cornerstone for his reputation as a visionary car executive when v.w. acquired porsche was already group chairman the merger was a long time ambition of his the father of 12 children believed v.w. and push belongs together. $152015.00 ph found himself in a power struggle with the w.'s then c.e.o. mott inventor cornered it was a struggle ph lost and he resigned an abrupt end to a story to korea. a top of his shuttle buses are now picking up passages in singapore out of a 3 month study to assess the safety and commercial viability of the servic

one of a kind 1939 porsche, type 64, a pre-cursor to the first mass produced porsche was expected to $20 million in auction at pebble beach and something went wrong take a look. >> $50 million $50 million. $70 million. $70 million now. $70 million. >> 17 or 70? >> this has been exciting to write $7-0, $70 million. 70 million 70 million >> yeah, communication is very important. the crowd in the auction screen operator thought that the dutch auction year was saying 30 million, 50 million, 70 million, when was he was saying was 13 million, 15 million, 17 million. >> i'm confused. were the people who were bidding actually bidding 30 and 40 >> right. >> i asked -- robert frank was there, and i e-mailed him and haven't heard back from him. robert, hello, answer your email, pal, because they took it off the market then, the auctioneer said if it's 17 million it didn't meet the reserve and they took it away. >> the crowd turned on the auctioneer that was lower than the reserve price that you mentioned. >> the auctioneer was saying 13, 13,5, meaning 500,000. how in that room even if it sounde

beetle p.s. 1st joined porsche and then the votes are going unit audi p.s. rose to become head of audi joining his time in english stop in 1903 he became the boss of volkswagen involves a book ph never made any secret of his thirst for power or his ambition. up see. meet. with our partners which v.w. house across the whole world i intend to be the winner see. b.w. was mired in crisis in the early 1990 s. p.s. managed to bring both so i can back to profitability. that enough for ph wrote automotive history as a passion of manager a brilliant engineer and as a visionary entrepreneur. it's just his name is inextricably linked evokes wagon's rise into a global company here in lower saxony he is known for creating thousands of secure and well paid jobs but splits. grew into a company with many marks on there but he always gave the orders. 3 in any team work is one everyone does what he wants also applies to the supervisory board after falling out with c.e.o. mark winterkorn ph resigned as b.w. chairman in april 2015 the emissions cheating scandal erupted months l

has called so linden up porsche motorsports explains that the redesigned therefore leader has a brand new 4.2 liter engine the most powerful boxster ever factory installed in m 9 eleventh's so they're carrying on the boxster tradition and they are as sharp as the engine has no power at the needs to be competitive and that was there anything . now the exhaust pipes exit on the sides and front of the rear wheel so that saves weight and helps the aerodynamics when making room for a larger diffuser at the rear as per the original power rating the 911 are. shard she has 515 horsepower its debut is due for the fia w.e.c. season starts consumer stone early in september. toyota also has a stand here presenting its latest supra due to good showroom floors before summer's out. but space on this island didn't hold one of toyota deutschland maintains this is a car that can be driven very precisely yet remains extremely comfortable even on long haul trips he describes the car as having 2 characters thanks to the wonders of today's electronics. tell you it as much or a division lexus is celebrating

grandfather was fat and porsche the man who designed the iconic folks beetle. discovered his passion for cars and technology at an early age he studied mechanical engineering and after climbing the corporate ladder became c.e.o. of the v.w. group which was then nearly insolvent transformed the company. it's good in look good enough and for there are always winners and losers see. me and with our partners which v.w. has across the whole world i intend to be the winner. within a few years to beat up the us again making a profit that laid the cornerstone for his reputation as a visionary car executive when v.w. acquired porsche was already creep chairman the merger was a long time and bishan of his the father of 12 children believed v.w. and push it belongs to. that in 2015 p.s. found himself in a power struggle with the w.'s then c.e.o. martin van to corinth it was a struggle ph last and he resigned an abrupt end to a story to korea. are now into politics in soccer the eastern germany state of saxony is preparing for important regional elections this weekend and

the first is this 1939 porsche type 64. this is the first car to actually wear the porsche name.ll for over $20 neck in neck with that is the 1994 mclaren f1. this c retailed for $800,000 back in the mid 1990s. this car today will sell between $21 million and $23 million which is why jay leno said his mclaren f1 is the best investment he has ever made. >> i bought my mclaren f1 in 1999 lor $800,000, and thet offer i got it was $17,500,000 and one just sold for $22 million. >> the market for big ol multi-millionr ferraris and porsches has cooled a bit, but millennrel collectors driving a boom in lower priced vintage trucks, suvs and fr wheelers, like this ford bronco sellingp $80,000. two movie cars are making cameos this weekend. james bond's silver 1965 db5 made famous in "gold finger" sold last night at rm sotheby's for nearly $6.5 million. mecum auction has the ferris replica of ari, a the one used in the it is expect to fetch over $200,000. as the ferris buehler once said, it is so choice,f you have the means i highly recommend picking one up. for "nightly business report", i

>> rich people, please apply. >> porsche fans might pay $20 million to get rid of the porsche suv.r only. >> that's a cool looking car. >> we will do a follow-up on that. to the el paso shooting, chan topics, to put racism and race issues back at the center. a pew research poll finds more than half of adults think race relations are bad and getting worse. professor ibramdin a path to set a new equality. he calls racism a cancer and how readers can shift thinking to stop it. we saw him speak with 12 community members about the issue on the second anniversary of the charlottesville attack. he is the founding director of the anti-racist research and policy center at american university and joins us. good to have you back. >> pleasure to be on. >> start with this. you said being an anti-racist is not the same as being not racist. i had to read that page a couple times. explain exactly what you mean in simple terms. >> the simplest way to understand it is, when we think of the history of the term not racist, we're thinking about uagain sist when being charged with racist saying they're

also pay attention to the porsche. oh, someone didn't set the brakes. >> you can do it, you can do it, superman. >> oh, no. >> they're calling this man for this very thing. goes running and stops the truck. you mentioned the brake. he had to use it using hands and feet. about that porsche, look how close. it's like an inch. >> we discovered superheroes in the world. >>> attention shoppers, we have a special announcement. >> we have a special visitor in the store today and he's not a customer. it's the son of somebody who works there. who's been gone ften ms on decanployment. >> that is maggie, her son nathan, and her coworkers helped make this surprise possible. >> is it a surprise? >> just a little bit. she clears that bin right there. >> maybe that's where he's getting the skills from in the military. this is a surprise. may bell going to see family but while she's doing this she's going to her husband's home rillage. this is a seven to eight-hour road trip but she has not told her mother in law. so that does that me

this is a porsche type '64. it did not sell the car today because the screen displaying the price was well over the amount the auctioneer was calling out. the opening bid showed 30 million. then $14 million displayed $40 million up to a $17 million which read $70 million. that's when the bids stopped coming in. sotheby's says it was an honest mistake. it was specced 0 sell for as high as $20 million. >> 17, 70. if you got that kind of coin. >> what's the old saying, if you have to ask? >> that's all. >> i'm going to ask what the weather's going to be like the next few days. >> we're starting out comfortably cool again for august tomorrow. heat will make a return in the coming days. live doppler 7 along with satellite, the cloud cover banked up along the coastline. the marine layer sin tact on this sunday evening. emeryville camera, a live look. you see the port of oakland on the horizon. baby blue skies up above. you notice as you look towards the horizon, you can see the fog waiting to come right back in. it wi

grandfather was fed and porsche the man who designed the iconic folk fog and beetle .discovered his passion for cars and technology at an early age he studied mechanical engineering and after climbing the corporate ladder became c.e.o. of the v.w. group which was then 1000000 sold and transformed the company. it's good to him look at the number one for there are always winners and losers. and with our partners which v.w. has across the whole world i intend to be the winner. within a few years v.w. was again making a profit that laid the cornerstone for his reputation as a visionary car executive when v.w. acquired porsche was already creep cham and the merger was a long time ambition of his the father of 12 children believed v.w. and pushup belongs to. that in 2015 p.s. found himself in a power struggle with the w.'s then c.e.o. mott inventor korn it was a struggle p.s. lost and he resigned an abrupt end to his story to korea. sports now in the last tennis grand slam tournament of the year u.s. open got underway on monday roger federer and novak djokovic reaching the 2

acquired porsche p.f. was already group chairman the merger was a long time ambition of his the father of 12 children believed v.w. and pushup belongs together. that in 2015 p.s. found himself in a power struggle with the w.'s then c.e.o. martin venter cornered it was a struggle p.s. lost and he resigned an abrupt end to a story to korea. there are big regional elections taking place in the german state of saxony this weekend and one of the local football clubs has also gotten into the campaigning mood honestly getting rb lives that have chosen this time to put up their own banners calling for tolerance and harmony in stadiums and in society but the club which is backed by energy drinks giant red bull insists they have no political motives. party election posters have been filling up the streets in saxony for weeks the far right a.f.p. are expected to do well in sunday's election. but some of the plaque cards look slightly out of place they're not from a political party but from his legal football club. po

under his watch, the automaker eventually brought porsche into its wide array of auto brands.82. johnson & johnson rising in extended trading after a judge ordered the company to pay far less than expected in a trial over opioid painkillers. it was the first case from a state. johnson &ruled johnson created a temporary public nuisance and is to pay around 570 million dollars to oklahoma. aggressive growth. not a phrase you associate with deutsche bank at the moment but that is a phrase that the indian operations are going through. it is the lenders only franchise outside of europe and is set to hire people. they have been assured that capital is not going to be a concern. and that is your bloomberg business flash. and about, thank you very much for rounding up the news flow. elections are riding on a coalition in rome. the democratic party, the five-star movement are close to forming a deal. and giuseppe conte would stay as the prime minister. christoph rieger stays with us. there is a sense of new momentum that elections may be avoided. talk me through the circumstances that

he was the grandson of ferdinand porsche and became v.w.'s c.e.o.1993 when the company was deep in losses. under his loss, they built quality, made money and eventually bought porsche. global news 24 hours a day on air and twitter. more than 120 countries. i'm su keenan. this is bloomberg. yvonne: china's latest sportswear maker is feeling the heat. earnings the first half still beats estimates and they have skyrocketed this year after a $5 illion deal for finland. the c.e.o. told me how the trade war is affecting his plans. >> the trade war is indeed having a massive impact on all fronts. mainly ast, anta focused on the china market and was impacted very little. now as a globalized company, our product, sales and supply chain is across the globe and the trade war is impacting our products and retail sales. we will proactively deal with the trade war impact and i believe as long as this strategic operations are improved and the implementation is inforced, the impacts can still be controlled at this point. >> we were speaking to one of your competito

night and later died at a hospital fed in peace started his career at his grandfather's auto company porsche before taking over and transforming audi and later faults is to be in this praise for reviving the company's fortunes and turning it into one of the world's biggest car makers but it's also criticised over the fox going to these and cheating scandal kurt when he was head of the company. oh the movie. well that's it for me and the team here in berlin for more business news check out the w dot com slash business on preschool were things. coming out as time on taste test a. new correspondent on coast made. clear in the various flavors of the only crazy hour the fusion and on tasty taipei starts september 1st on. the bench are some of the famous naturalist and explorers. to celebrate comics on the front $250.00 in the morning on the for each of the discovery. expedition boys. and i'm going to bring news w. from the bottom of this person this device is about topics that affects a whole lot of solution to climate change and the return. races scouting. and. rodeo riders preparing for their n

and later died at a hospital ferryman pierce started his career at his grandfather's auto company porsche before taking over and transforming audi and later falsified to be most praise for reviving the company's fortunes and turning it into one of the world's biggest car makers was also criticized over the faux deeson cheating scandal if you heard when he was head of the company. oh the movie yeah well that's it for me and the team here for more business news check out com slash business and discover things. how this time on tapes out there. w correspondent. and host of. the various flavors of the exotic crazy i am a challenge for you all very good men during. the food confusion and fun. from street food the 5 star restaurant tasty taipei starts september 1st on t w. now has it been the stock. is facing mass extinction. you could say that topic suffers and thanks to. the us economy. because companies are uniting to create. a possibility. not only animals will be safe but home to. the lion's share. of the conservation. laughs. this is the that the news africa coming up in the next 15 minut

night and later died at a hospital very damp you started his career at his grandfather's auto company porsche before taking over and transforming audi and later faults is to be praised for reviving the company's fortunes and turning it into one of the world's biggest car makers it was also criticized over the faux. cheating scandal if you curt when he was head of the company. basically. oh that will be all that's it for me or the team here for more. business. salman khan toes. their delicacy. dangerous because the price paid to produce them is highly contaminated water forced the forestation. organized crime the dark side of treme through the. sixty's. going into an official estimates more than 1200000 venezuelans live in colombia and illegally. video all the while i return to. to visit friends i don't think i'd ever go back there to live you know what i live there again i don't know so i'm not sure. with global news that matters. made for mines. s.o.s. europe the european is in crisis. if it's to have a future it will mean champions young champions. are going. to be more country. your future

started his career at his grandfather's auto company porsche before taking over and transforming audi and later falsified mr pinkus praise for reviving the company's fortunes and turning it into one of the world's biggest car makers but he was also criticized over the faux via going to the fees and seating scandal if you heard when he was head of the companies you supervised or you know basically oh the movie well that's it for me and the team here for more business news dot com slash business thinks the. euro. is in crisis. if it's to have a future champions young champions. more countries. they are fighting for the train collision insurance claim. do they stand a chance. can they save the european idea if. i'm here to stand up for european values and contribute to something important that upset. the future of europe starts september 2nd on d w. i don't know i think. about a few sometimes i am but i stand up and when to them i think in general thinks deep into german culture. stereotypes question if you think a fugitive that i don't. need to take from his grandma i am thus it's all t

acquired porsche pierre who's already group chairman the merger with a long time ambition of his the father of 12 children believed v.w. and pushup belongs to. that in 2015 p.s. found himself in a power struggle with the w.'s then c.e.o. martin venter corn it was a struggle ph lost and he resigned an abrupt end to a story to korea. a top of his shuttle buses now picking up passages in singapore out of a 3 month study to assess the safety and commercial viability of the service trials taking place on the resort island of sentosa and is being closely watched as tech firms in order make his race to build self driving cars a global autonomous vehicle market it was written worth $54000000000.00 a year that it is expected to increase and fold in the next decade. and u.s. retailer costco was forced to cut short its open day in china over safety concerns crowds of bog and hunters swamped the store in suburban shanghai the white house out there posted a message on its apps a ing it would have to close its doors just to overcrowding situation also cause massive traffic chaos in stores and neig

to cheech pollution standards the certifications for 8 models including the 2 a reg audi a 6 and porsche cayenne will be revoked. african swine fever has decimated the poor trade in china that helps some breeders to a healthy profit according to the chinese ministry of agriculture at least one 3rd of the market has been wiped out prices for hogs have now reached $200.00 an all time high. and there's that's twice the demand goes up after the summer months. u.s. presidents don't much trump has called on the federal reserve to cut its key interest rates by the least a full percentage point over a fairly short period of time he said that would make the u.s. economy even better trump also attacked fed chairman john powell saying the economy was strong despite his horrendous lack of mission. and i would you take a drive at his bus across town that's what authorities in singapore wanted to find out as they prepare to launch a trial of self driving buses it's part of an ambitious plan to roll out autonomous vehicles across the city state so will it work. his days are numbered at least if the tri

automotive industry has died at age 82 pierce started his career at his grandfather's auto company porsche before taking over on transforming our day and later. it was praised for reviving the company's fortunes and turning it into the world's biggest carmaker. and that is your business update at this hour for me and the team member len thanks for watching. meets tina the sex phone operator who works her master's thesis on the potato. not a turn on well it gets more ridiculous from a. list. of streets. and i'm just the brand new delusion bottom is pulled it's personal device and it's about topics that affect us all on a mission climate change and the turn. check out. hello and welcome to news from the world of ops and culture young film director stefan his path is my gas his documentary. congo calling as just one of prize for up and coming filmmakers and in our series 100 german must read a novel entitled simply insane. guide planet will investigate street food from venezuela here in the. congo coaling is a documentary film by director stefan him pat and it's just won a top prize at a film