While browsing through some Q & A files on the "Porsche Club of America's" website I found one post explaining the exact problem that I am experiencing. When engaging the motor at a cold start some guy named Jp asked the tech why his motor would give a one to two second squeal. I have been having this problem for about a month or two and my best guess would be the starter but thats not what they think.
The response back to the question:"Wow, that sounds terrible. Good job on the recording & upload. Yes it could be one of the pullies, but not necessarily... could be the water pump, alternator, or something else. If it is still under its 2 year warranty, I'd take it back. If not, I think you would want to get your mechanics opinion. If you don't have one, this might be the time to find a good one. I am not sure what the best way is to narrow this down, but it might take a stethoscope. Whatever it is may still be making some noise even after startup. But first, while you have that belt off, see if you can get any rough feel or slight noise by turning each wheel that the belt runs on. With the engine off obviously. Let us know what you find. " Porsche Club of America
This didn't answer my question but I found the website extremely helpful. I now am in the process of setting up an appointment at the dealership.
