In the words of my roommate, “Too Greedyyyy!” Porsche seems to have dug itself into a hole where Volkswagen Group is concerned. You may remember my previous report on Porsche’s grab for control via 51% share of VW and the subsequent decision to merge manufacturing operations. Well it appears the sports car maker over-reached. Not only is Porsche being hurt by the global economic slowdown, but it’s push itself into debt in order to take control of Volkswagen. A dangerous roll of the dice that so far appears to have landed Porsche in an awkward situation: it has control of a much larger company that it now wishes to merge with or face bankruptcy. Volkswagen offered to take a 49% stake in the company, enough to save it and yet not enough to take control. While this might seem like a godsend for the bean counters, either Porsche is delusional or just plain too proud to accept the offer. Instead, it has cozied up to the Qatar Investment Authority, looking for money from the Oil rich country in the hopes that it can save face and still come out ahead financially. I’m not holding my breath. [Source: MSNBC- thanks for the tip Austin!]