Fisker Auto Announces Layoffs; Requests Expedited Access to Full Dept. of Energy Loan Guarantee
**Written by Doug Powers

Fisker Automotive, which was granted a $529 million US Dept. of Energy loan guarantee and then announced they would assemble the first line of cars in Finland, has announced layoffs at a Delaware plant that has yet to produce a single car:
The company says 26 Fisker employees have been let go from the Delaware factory where renowned automotive engineer Henrik Fisker promised to one day begin producing affordable electric sedans. A Delaware newspaper also reported that subcontractors working on the car venture have been let go.
“It’s temporary,” said Roger Ormisher, a company spokesman. “We’re being prudent and sensible as a company.”
Because the initial phase sounds like it’s been such an unqualified success, the company is asking for terms of the federal loan to be altered so the company can have faster access to their line of time-released taxpayer-backed credit:
Accompanying the layoffs was an announcement that Fisker has approached the Department of Energy about revising the targets it had to meet in order to continue drawing money from the federal loan. Whether the Energy Department agrees to alter the terms, and invest more taxpayer [money] in the Fisker venture remains unclear.
[...]
To date, Fisker has received $193 million in government funds, according to a company statement. Back in October, the company acknowledged outsourcing Karma assembly to Finland, but said that the bulk of its government funds would be used to launch a second-generation electric vehicle, still under wraps, that would be assembled in a shuttered General Motors plant in Delaware. Some of those hired to prepare the Delaware plant for that effort were among those let go.
[...]
“We have temporarily delayed work at the plant based on ongoing discussions with the DOE regarding funding for the Project Nina program,” the company’s statement said. “As a result, we have laid off 26 people.”
This all sounds too familiar, doesn’t it? But since Leo DiCaprio, Al Gore and Colin Powell must not be denied warranty coverage, it’s important for the DoE to help keep Fisker afloat.
Related madness:
Stimulus-backed “green” bankruptcy of the week: Ener1
**Written by Doug Powers
Twitter @ThePowersThatBe
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Comments
You must be logged in to post a comment.
GOP Texas primary fight: Desperate Dewhurst slimes conservative challenger Ted Cruz
May 25, 2012 07:31 PM by Michelle Malkin
8 CommentsWho’s funding Brett Kimberlin?
May 25, 2012 01:52 PM by Michelle Malkin
29 CommentsObama’s Land of the LOST
May 25, 2012 01:42 PM by Michelle Malkin
56 CommentsObama’s latest campaign angle: I’ve been saving America from wild Republican debts
May 24, 2012 04:33 PM by Doug Powers
55 CommentsSenate finally passes a budget approves bill striking word ‘lunatic’ from federal law
May 24, 2012 11:22 AM by Doug Powers
193 CommentsStammertime: Jay Carney asked if Chicago protests have soured Obama’s support for OWS
May 23, 2012 07:44 PM by Doug Powers
54 CommentsS.E. Cupp, Hustler, and the four stages of conservative female abuse
May 23, 2012 02:13 PM by Michelle Malkin
142 CommentsBiden: Tea Party stopped us from growing the economy
May 23, 2012 01:55 PM by Doug Powers
44 CommentsPig Maher’s boy Bill Burton mocks my support of Hatch challenger Dan Liljenquist
May 23, 2012 11:37 AM by Michelle Malkin
32 Comments
Categories: Automakers,Obama Jobs Death Toll,Politics



JustOneMinute
» Barack, Youthful Leader!
JustOneMinute
» Patterico And The Brett Kimberlin Gang
Babalu Blog
» U.S. Manned Space Flight in The 21st Century
Villainous Company
» Must Read Post of the Day. Possibly, the Year









Golden Parachutes for all company executives when the government teat goes dry.
Food Stamps and Un-employment for the workers.
More proof that the gov is only good at picking losers. They spread the wealth around and it ends up down the black debt hole. Nice job elites.
It’s the Green Way !
Now this is just getting beyond parody.
Hey, I have a pair of their scissors.
By the way I still have in stock and on hand my key n kite electrical energy from the air thing. Still only $19.95 plus tax.
Dept of Energy approved!
Will there ever be real investigations of this rampant fraud and corruption?
They are taking billions from us and redistributing it to their friends and cronies while we watch.
The Usurper makes Richard Nixon look like an Eagle Scout.
How many tomes do taxpayers have to play the Water Down a Rat Hole Game?
Robin Hood 2012: Rob from everybody and give to the rich.
In all fairness to the scissor company, that is FISKARS
Quote
Accompanying the layoffs was an announcement that Fisker has approached the Department of Energy about revising the targets it had to meet in order to continue drawing money from the federal loan.
/Quote
Sounds to me like they want to get more money than the “goals schedule” allows.
In other word … get as much money now before someone changes their mind.
And the odds of Mitt throwing this into Obumer’s face?
NADA
On February 06, 2012 at 09:03 pm, Flyoverman said:
Ah, but only a very select group of rich…..those who promise to kick some back to Urkel and his thugs in the DNC.
It should be “Friskers” vice Fiskers.
What? A representative from Fisker suggested that the new target to get the remaining $300+ million loan would be met if their CEO could spell “car,” spotting him the “c” and the “r?”
Obama and Chu look at each other and say (in unison) “yeah, that sounds reasonable.”
Hey, I haven’t produced a single electric car in Delaware either – where’s my $529 million?
The good news is that almost 50% of Americans are too stupid to notice what a crappy job Obama is doing. Well, good news if you’re a Marxist or Anarchist.
You people are so harsh – it’s only halftime, right Clint?
Between Chrysler and GM, the taxpayer only got fleeced to the tune of some $14 billion or so…so I guess in the second half they want to dump another $14 billion in the toilet.
***
HI VIRGINIA_PATRIOT–#6. I seem to remember that Richard Nixon really was an Eagle Scout. Although it didn’t seem to stick on Tricky Dick. The artist who painted the Presidents shock in seeing Comrade Obama shredding and stepping on the Constitution did a good job on Nixon’s face. Yes–he really looked like–and was–a crook!
***
And the failed “greenie” auto “company” should be named Fister–not Fisker. They are socking it to the taxpayer for another 193 $Million bucks. And no beso either. Another zero output “product” scam for a lot of our money thrown into the toilet. But the losses are still far less than what GM and Chrysler owe the taxpayers. Messiah “smart” power in action. You have to admire President Obama’s consistency–His projects always fail to make a buck.
***
John Bibb
***
Golden showers for the taxpayers… fify
Well of course they need the rest of the funds right away. The DNC has been lagging behind the RNC in campaign donations and it is election season after all.
I’m still waiting for my dividend check from at least one of the many enterprises the government “invested” my tax dollars in. They take my money by force, give it to their friends, and then call it a taxpayer investment? Even if it would generate a profit, do we (the taxpayers) share in the return? No, the government would keep that and spend it on something else. However, they never seem to make a profit, so we just get to “invest” more money into failed enterprises. This is even worse that what Madoff did- His investors at least got some of their money back and saw him go to jail. We NEVER will.
This goes to show you that Lenin was right about “capitalists”. They will sell him the rope he will use to hang them.
These are not legitimate free enterprise businessmen. They are Liberal opportunists who saw a way to make a quick buck by exploiting the public purse and aiding Obama simultaneously. There was likely never any real intent to turn out a viable product. A special ring in hell awaits these vile creatures.
Once again, avoid Marxian language in arguing for liberty:
“Capitalism” is to free enterprise as “pharmaceuticalism” is to medicine.
Next to the Cap/Balanced Budget Amendment, government “investments” of this nature must be made illegal. It is axiomatic that government invariably fails when it attempts this sort of thing. In any event, its only purpose appears to be to expand the reach and size of government and thereby the power of the
DemocratCommunist Party.Maybe we can get Clint Eastwood to do a halftime commercial of optimism titled “A Fisker Full of Dollars”.
I am astounded that there has been no open discussion of prosecuting or at least challenging the Pocket Lenin. It’s a clear demonstration that the Left has coverted the American presidency into the throne of an emperor autocrat. Would they tolerate this behavior in anyone but a Leftist?
Roger Ormisher: Shhhh. Be vewy vewy qwiet. Hehehehehehe.
I didn’t understand the commercial for Chrysler, I thought he drove a Ford Gran Tourino?
Post of the day!!
Tourino = Torino (slap!)
I don’t see how anyone can be the least bit impressed by anything this administration or their cronies have done.
Excepting the 1% who profit from it.
Go ahead, give them the money. May they toss it all around and have a big party, gorge themselves and (if we’re lucky) choke to death.
Just one more example of this creepshow that is out of here in November.
If the MSM would actually do some IN-DEPTH reporting on this stuff, Obama and his entire administration would be under endictment and on their way out the door as we speak. Unfortunately, they are as corrupt as Obama is. They need to be investigated and indicted also. They not only DON’T report the facts, when they DO mention these scandals, they cover up for the criminals!
These so-called journalists and anchors are spewing the most ridiculous lies AND slandering anyone on the right, calling us extremists, dangerous, radicals. And we just have to sit here and take it. What is the alternative? They get away with it, and millions of people in the country believe them. Diane Sawyer, Andrea Mitchell, George StuffAnAppleUpYourAss, Cutie Couric, et al. All Traitors. All liars. All in Obama’s back pocket. They don’t seem to realize that they are first on the list of those going under the bus as soon as their usefullness has expired.
Not a chance. There needs to be an avalanche of new alternative news media to overwhelm the network/legacy media troglodytes. The problem is their realm is controlled by the FCC.
But, hey, didn’t Piglosi say that the US got more bang for its buck by spending it on unemployment checks? And look at all of the people in NYC who got jobs in the welfare offices to help process all the new claims.
Well folks, Automotive News did a pretty extensive write up a little while back. Check it out and see for yourselves.
Personally, I don’t see a future for this company. They stole one of our engineers a while back, they have this really pretty showroom down the street from my house, but they aren’t selling any cars yet. Ventures like this require a whole lot of true believers with piles of extra cash laying around. They’re out there, but are there enough of them to float this capitol ship?
He would, but Chrysler said he cant seeing that they already got a fist full of Fiat.
. . . that only the smartest, and most enlightened people would be able to see.
It’s not the least bit “unclear”. Of course the DoE will “invest” more taxpayer money. They’re just waiting to do it at 11 p.m. on Easter Sunday.
pst 11 and 30, you couldn’t be more correct. When you have to get rid of 800 billion dollars per year of stimulus/slush fund money, you back all kinds of crazy crap, as long as those enterprises launder your money and recontribute a lot of it to Obie. It’s the Chicago Way.
That sounds like a scam a friend of mine in the Air Force used to pull on some not so bright ladies. He did flight line security and when he wanted to impress one of these ladies he would take them to see the new stealth fighter. He and his friends set up three chock blocks in a triangle on the tarmac and had one guy in full gear “guard” the invisible fighter. The sad thing was how many of these ladies fell for it.
Man, the GOP idiots REALLY need to start an ad campaign….
Barack 0bama thinks Americans are too stupid to do simple math…
BO: “My administration has created 2 million jobs”
The truth: There are two million FEWER people with jobs today than in January 2009
Barack 0bama thinks you aren’t paying enough to drive to work, heat your home, or turn on the (government approved) lights.
BO: “under my plan…electricity rates (and ALL energy prices) would necessarily skyrocket”
The truth: Cost of a gallon of gas January 2009: $1.85. Cost of a gallon of gas January 2012: $3.40.
Barack 0bama believes that the “rich” aren’t paying “their fair share”…
The truth: the “rich” (top 10%) are paying 70% of all taxes collected in this country. Nearly 50% of Americans pay NOTHING…
Barack 0bama believes that deficit spending of our children’s and grand children’s future is “unpatriotic” (cue his ridicule of George Bush’s deficit spending)
The truth: BHO has added $4 TRILLION to our national debt in 3 short years and has annual trillion dollar deficit spending planned for the next XX years…
Barack 0bama believes that YOU are too stupid to recognize his lies and will vote for him in November…
The truth: It’s up to YOU…
We need to start hammering the truth (no hype, just the FACTS) at the American people through a targeted, concise, and focused advertising campaign via the lame stream media. The TRUTH needs to be told to all of the people who are being spoon fed these lies and and using the sycophant LSM to do it would be delicious irony…
I think of electric cars like I think of certain people in spandex… I dont. Some people need to stay away from the spandex and some companies need to get off the bandwagons.
***
HI ROGUE_CHEDDAR–#28. Don’t worry–you are as sharp as ever. The Grand Tourino is the French touring version of the Grand Torino. It has a Citroen 2CV engine, seats 2 in misery, outputs clouds of toxic mosquito killing smoke, and can’t outrun a Trabant or Yugo.
***
Comrade Obama is setting up a production line for them in a soon to be defunct Chevvy Dolt plant. He knows a real good design and profit making enterprise when He sees one. After all–they do get really good gas mileage, and rarely catch fire and burn down your house and garage. A real steal at only $199999.99 each–including the $50000 Gubmint tax credits.
***
John Bibb
***
Clint’s saying he had no idea this commercial was about Obowmao. Really? I didn’t buy it despite Clint’s low, slow “I’m so sexy” delivery. Am I to believe Detroit is the new Los Vegas? Booming economy, streets of gold, etc? I don’t think so.
Only a certain select rich mind you.
And that FISKARS actually offers products people want and is highly profitable as I understand.
True hawkeye. Fixed it for myself.
Truth in advertising:
Chevy runs deep – through taxpayers back-pockets!
Detroit is back – for another bailout in ten years!
Fisker (suggested) – Fisker: snipping the ties between US taxpayers and their money and jobs!
Like I’ve said before, the MSM will not allow Obama to be a one-term president.
They will gladly expend the shredded remains of their credibility to avoid, deny, mislead (see NBC’s Andrea Mitchell and Lisa Myers on the Komen v. PP kerfuffle) and even outright lie to protect Obama’s reelection chances and make Republicans look bad.
And the saddest part is, independent voters will fall for it just like last time.
Wow, knock me over with a feather
A G A I N, twice in one day. Who would believe it in a million years? Time for the president’s staff to start shoveling those greenbacks. Taxpayers bend over, here comes Obama again.
I’ll bet the Libs just can’t wait for four more years of this. YEAH! Party-on Obamaites! Who needs that stinkin accountability, justification, promise-keeping BS, RIGHT?
If that’s all there is my friends, then let’s keep spending. Let’s break out the booze, and have a ball, if that’s all, there issssssss.
The problem with business loans like this is the loan doesn’t guarantee anyone will buy the finished products.
Truth in advertising II -
Chevy Volt…it’s the car we had to build – otherwise Obama wouldn’t let us have any more your money!
Green is the New Stupid
Green is as Stupid Does
Eastwood has always been a phony, hypocritical despot. Remember Dirty Harry? The gun-control advocate?
You know, I’d be a lot happier with “Conservatives” if they didn’t cheer when a company goes under.
But Fisker was dipping in taxpayer’s pockets, supported by the government!
Aw jeez, the number of companies in this nation who pay lobbyist to twist our Constitution, tax rules and work to get elected officials into Office who will benefit them through Crony Capitalism is legion. Yet you have a blind eye for it, only cheering the collapse of an electric car company.
Internal Combustion, Petroleum-based car makers and notable models that have disappeared just since 1977 –
AC, Acadian, Albany, Alpine, American Motors Corporation (AMC), Anadol, Autobianchi, Avanti, Bricklin, British Leyland, Checker, Coriasco, Crayford, Crespi, Custoka, Davrian, Dino, Dutton, Elegant, Eliette, Excalibur, Fairthorpe, Felber, Fiberfab, Giannini, Ginetta, Glassic, Gremlin, Hillman, Hongki, Hornet, Humber, Innocenti, Jensen, Leontina, Matador, Matra-Simca, Melkus, Monteverdi, Moretti, MP Lafer, Murat, NSU, Pacer, Panther, Peykan, Princess, Puma, Ranger, Reliant, Saporoshez, Sbarro, Scaldia, Shanghai, Scorpion, Shekate Sahami, Shiguli, Simca, Strato, Sunbeam, Syrena, Tatra, Technical Exponents, Tiffany, Tofas, De Tomaso, Toro, Trabant, Triumph, TVR, Valiant, Vanden Plas, Wartburg, Wolga, Wolseley, YLN, Zastava, ZAZ, ZIL
Ten major car brands that have disappeared in America –
Studebaker, AMC, Dusenberg, Pierce Arrow, Muntz, Crosley, Cord, Geo, Stutz and Tucker.
If we’re going to celebrate (or) lament the passing of a car company that made a stab at creating a new brand and developed innovations to set themselves apart, let’s be honest about the History behind how hard it is to (a) make that happen (b) compete against the enormity of select brands and (c)penetrate a market already saturated – an honest person would admit it’s a lot harder than it looks to get people to buy your product.
Ask Mr. Tucker.
A “company” has no more right to exist than any other invention of man. Being in favor of the free market doesn’t mean you’re in favor of companies. It means you’re in favor of companies succeeding or failing on the basis of their own merits or demerits, and nothing else.
And if that’s the only way they can survive, then they don’t deserve to survive. It’s just that what we have in this case is a particularly egregious example of what you describe.
And your solution is for the government to prop up all of those failed companies? If not, should they have propped up some of them? Which ones? I don’t want the government picking and choosing winners and losers- and using our money to do it. If you like a particular company- you invest in it.