U.S. hired restructuring adviser to t...

U.S. hired restructuring adviser to track Fisker's capital fundraising

There are 1 comment on the Detroit News story from Apr 25, 2012, titled U.S. hired restructuring adviser to track Fisker's capital fundraising. In it, Detroit News reports that:

The U.S. Energy Department froze Fisker's credit line after delays with the development of the $103,000 plug-in hybrid Karma.

Join the discussion below, or Read more at Detroit News.

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#1 Apr 27, 2012
The government loan to Fisker only seems 'unusual' to today's Republicans because they can't envision a US government work efficiently to strengthen American domestic interests --make peaceful progress and not war.

Sen. Charles Grassley, an Iowa Republican who is his party's ranking member on the Senate Judiciary Committee, called Fisker "one of the more unusual recipients" of the Energy Department's vehicle loans in a letter this week to Energy Secretary Steven Chu. Grassley and Sen. John Thune, R-S.D., asked Chu to respond to questions about awarding a loan to a luxury carmaker.

"Our loans and loan guarantees have strict conditions in place to protect taxpayers," the Energy Department said in a statement responding to the Grassley letter. The agency "is working with Fisker to review a revised business plan and determine the best path forward."

Fisker, trying to become profitable selling cars powered by lithium-ion batteries and gasoline, has raised more than $1 billion from private investors. It may use the money to resume work on the Delaware factory where it had planned to build a second, less-expensive model, the Atlantic.

From The Detroit News: http://www.detroitnews.com/article/20120426/A...

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