Another "Green" Obama Boondoggle Goes Under: $193million Obama crony, Fisker Lays Off Workers

Add "Fisker" to the list of "Green" boondoggles that enriched Obama cronies at taxpayer expense, only to disappear from the market without fulfilling empty promises of "green jobs" and growth.

Struggling carmaker Fisker Automotive laid off 160 employees, most of its staff, Friday as it struggles to reach a financing deal that would save the maker of the Karma hybrid sports car.

The Anaheim company dismissed all but a core group of about 40 workers needed to keep the business running as it continues talks with three Chinese businesses considering buying or investing in Fisker, according to individuals familiar with Fisker’s strategy.
...
The company ran into a cash crunch after the federal government froze an Energy Department loan. Fisker is supposed to make the first payment on some of $192 million it borrowed from the government later this month.
...
Henrik Fisker, the automaker’s executive chairman and founder, quit the automaker last month in what he described as a management dispute.

Fisker Automotive lays off most workers, struggles to find investor

See also:
hosted2.ap.org... e5

Add Fisker to the growing list of wasted taxpayer money given away to BHO cronies.
Start with the UAW and GM/Chrysler.
Move to Evergreen Solar ($25 million), SpectraWatt ($500,000), Solyndra ($535 million), Beacon Power ($43 million), Nevada Geothermal ($98.5 million), SunPower ($1.2 billion), First Solar ($1.46 billion), Babcock and Brown ($178 million).
Now add A123, Abound Solar, and now add Fisker to the list.

"Green" Battery Maker, A123, Receives $390M Obama Subsidies, Now Laying Off Workers
Al Gore gets a $529 million gov't loan to build luxury hybrids - IN FINLAND
Government Motors Volt Costs Taxpayers $250,000 per Vehicle
Abound Solar (an Obama $400 million federal loan recipient) Lays off 300
Solyndra 2.0... taxpayers lose $118.5 million in another green jobs stimulus failure
President Obama’s Taxpayer-Backed Green Energy Failures

Of course, now we have the coming "carbon tax" and "gas tax" that will further fuel the disaster that Obama's energy "policy" has been and will be.

jw

Didn't people know that's why they call it the "green agenda" it's not his money hes blowing when he runs out he says meh," I'll just raise taxes on the rich" blew some more then he raised taxes on the middle class and blew some more.

The green?

Is the color of MONEY!

Yeah BIG OIL has nothing to do with the reporting
and lobbying against this evil Green energy thing.

So terrible..wind? What?
How the hell am I supposed to put that in my tank. Idiots...
We need to dig up more dead dinosaurs.

That's the way to keep 6 oil tycoons happy.
Screw the other 7 billion.

That' way we'll be one up on those dumb Germans
putting solar panels on everything.
What do they think , that the Sun is free?
Sheesh.

Originally posted by sealing
Yeah BIG OIL has nothing to do with the reporting and lobbying against this evil Green energy thing.

Please elaborate on the "lobbying against this evil." Just becasue you fear it doesn't make it true.
Please elaborate how "BIG OIL:" caused the failures listed above.
(I didn't think so.)

So terrible..wind? What?

Wind is not "green." It required huge resources of steel, copper, rare earths, and land. Which of these are :renewable?" The generators fail at 1/2 of life expectancy, and require storage (more resources used up) to even try to be useful adjuncts to the electric grid.

How the hell am I supposed to put that in my tank. Idiots..

You can't, smartass. Who's the idiot?

We need to dig up more dead dinosaurs. That's the way to keep 6 oil tycoons happy.

Actually, it keeps about 3 billion humans happy to be able to reliably heat their homes, operate their manufacturing equipment, produce millions of products that require energy and polymers. But, who are they compared to you and a few other fear mongers?

Screw the other 7 billion.

Isn't that exactly what you're advocating? How do the 7 billion benefit from your windmill?

That' way we'll be one up on those dumb Germans putting solar panels on everything.

Are those the same Germans who can't afford utilities, whose solar panels don't produce anything except debt and blight during snowstorms and cloudiness? The same Germans whose energy policy has been deemed a failure by the EU Energy Commissioner? Oh, yeah. Those Germans.

jw

reply to post by sealing


Of course, billions of dollars diverteed to failed "green" crap has no effect upon the environment, science, the economy and employment, right? Let's just throw BIGGER piles of money at "green" fraudsters andcronies! That'll fix everything.

Fisker Automotive Inc., a recipient of federal loans to develop and build luxury plug-in cars, is firing about 75 percent of its workforce after failing to secure a deal with an automotive partner to fund operations.

The maker of rechargeable $103,000 Karma sedans told a “core group of employees in Southern California” yesterday of the plan and expects about 25 percent of workers to stay, the Anaheim, California-based company said in an e-mailed statement. Fisker said last week it had about 200 employees.
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The Obama administration in 2009 approved Fisker for loans of $169 million for engineering of the Karma and $359 million for production of the lower-priced Atlantic, to be built at a U.S. factory. Karma was designed in the U.S. and built under contract by Valmet Automotive Oy in Finland, an arrangement set before it got the loans.

Fisker said it had drawn down $193 million from its low- interest loans when access to the remaining portion was blocked. Work on a Wilmington, Delaware, plant where Fisker wanted to build the Atlantic stopped more than a year ago as a result.

money.cnn.com...

How sad.

jw