Fisker: How To Light $529 Million On Fire

Derek Kreindler
by Derek Kreindler
fisker how to light 529 million on fire

Fisker has laid off nearly all of its rank and file employees. Reuters reports that 160 people were out of a job as of today, while 53 senior employees will stay on, apparently to help find a buyer for Fisker’s assets. Fisker is also hoping to re-negotiate a loan payment to the Department of Energy, due on April 22nd.

Comments
Join the conversation
10 of 53 comments
  • Big Al from Oz Big Al from Oz on Apr 06, 2013

    I'm not anti EV. But I'm anti any goverement handout for any industry. The product obviously wasn't be sold at a high enough profit or the company would still be around. The most fundamental concept of business is you need a greater return than your loss. Even countries have to realise this.

    • See 5 previous
    • Inside Looking Out Inside Looking Out on Apr 07, 2013

      @CV Neuves Where money come from in US? In other countries it is traceable to real goods. E.g. in Russia any money is eventually tracked down to exporting oil, gas and other natural resources. In Germany, Japan, Korea and China - to manufacturing and export of goods. In US most manufacturing companies went bankrupt or on the way to bankruptcy. GM, Chrysler, AMC, Packard (and list gores on). Then Polaroid (now Chinese brand), Kodak (now cameras are made by Chinese company under Kodak brand), Xerox (now Fuji-Xerox based in Yokohama), Westinghouse (now Toshiba) and so on. So where money really come from? From my laymen perspective they come from printing press. Basically what happens - America prints money and exchanges it with the manufacturing countries like Germany, Japan, Korea, China to the real goods - something useful and enjoyable. These poor countries in return get some depreciating numbers in their bank accounts which have any value only if US agrees to take them back - no gold standard sorry. Of course it is a simplistic picture because some companies in US still innovate and get cash for that, but the ability and know-how to make useful good is lost some time ago and Universities making money by transferring knowledge to other countries and so on. Knowledge transfer happens in many areas. Dell transferred knowledge to Asus and now Asus is beating Dell in its own game. Further e.g. the Dell tablet - Dell only have architects and outsource all engineering to the Chinese company and tablets made by Chinese company China also. The knowledge regarding laser printers had been transferred from Xerox to Fuji and it is only the matter of time when Xerox will go bankrupt if it does not become the service company very quick. There are still some knowledgeable people in Xerox but they get older and retire and engineers were laid off long time ago and everything was outsourced to India and other countries.

  • Lorenzo Lorenzo on Apr 07, 2013

    I have a solution! Fisker ought to send one to Ferdinand Piech as a gift. If he likes it, he may want to buy the company!

  • Pebble Pebble on Apr 08, 2013

    Beautiful cars--the local Jaguar dealer is selling Fiskers here. Probably seen 3 or 4 on the road, plus another handful @ dealer. Still, this seems to be another Solyndra?

  • Holydonut Holydonut on Apr 08, 2013

    Go here if you want to see a cut-away of what the Unibody and drivetrain structure of the Karma. http://boronextrication.com/2013/02/2012-fisker-karma-body-structure-and-battery/ It'll be tough to package any premium motor into the available space. I guess you could do a V6 up front and a flat four in back? Don't know how you'd fit a transmission anywhere though.

Next