Tony Posawatz

Fisker Execs Kept Salaries While Employees, Taxpayers Got Taken

Fisker hearingThirteen of Fisker Automotive executives made more than six figures in the past year, despite manufacturing zero cars.

The news was first reported Wednesday afternoon on the automotive Web site Jalopnik.com, and later in the evening by the Delaware Journal. Jalopnik often gets the scoops when electric cars catch fire. For those unaware of the ugly saga, Fisker declared bankruptcy at the end of last month after squandering more than $1.4 billion in private investment and losing $139 million of taxpayers’ money.

A123 and Fisker Fire at Each Other as Taxpayers Run for Cover

A123 logoFisker logoAs if taxpayers didn’t already have to stomach enough corruption, incompetence and dysfunction in the government's promotion of "green" energy, two past exemplars failure have returned to discharge blame at each other.

Fisker Automotive and A123 Systems are the costly malfunctions that zap you over and over again.

The latest, from a FoxBusiness.com report, reveals that sparks flew between the two as both of the Department of Energy-financed companies plummeted in their production, public profiles and value. According to an anonymous source the network says was “familiar with the situation,” when Fisker announced last fall it would cease production, the manufacturer of the $102,000 plug-in Karma blamed the bankruptcy of its battery manufacturer – A123 – for its downfall. The last of Fisker’s only model was produced in July last year.

Al Gore, DiCaprio AWOL as Fisker Circles the Drain

Al Gore photo

UPDATE 11:30 a.m. Friday: Reuters reports that Fisker has hired a bankruptcy attorney.

Fisker Automotive, which has received $193 million of a $529 million Department of Energy stimulus loan guarantee and apparently still wants the rest of it, stopped making its sole electric car – the $102,000-plus Karma – last July. But only now has it decided to furlough workers for a week.

“In parallel with the process of identifying a strategic partner, Fisker is, of course, continuing to manage its day-to- day operations and has recently instituted temporary furloughs for its U.S. workforce covering the final week of March,” the company said.

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