Cars that turn into Aeroplanes

A discussion at work about whether or not anybody had really invented a car that turns into an aeroplane resulted in me Googling up the moller skycar website.

Much debate about whether or not this thing is real. We expect that the concept is real, and they're trying to get investment. However take a close look at some of the "vertical takeoff" video's. Is that a wire I see above the skycar?

Even if it does work, and you can afford one, you'll still need a pilot's license to fly it.