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Author Topic: Derr: Fisker  (Read 1072 times)

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Offline Valjean

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Derr: Fisker
« on: April 05, 2013, 05:32:01 PM »
http://money.cnn.com/2013/04/05/autos/fisker-lay-offs/

Fisker is a company that landed about a half billion dollars in one of the various "economic stimulus" packages President Obama created.  I think they're a very interesting example.

They drew ~$200MM of that money, then used it to go build a plant in Finland and hire workers there.  A fine example of government waste there; giving away free taxpayer money to create American jobs and having jobs created overseas.  Now had they been smarter they maybe would have built a plant in Mexico and still have some money left over... just saying.

Anyway Fisker is apparently out of government money and going bankrupt.  They've just laid off 75% of their workforce.  The real (or obvious at least) moral of the story though is that you can't have government spend your way to prosperity.  Government spending always spends the way to bankruptcy.

Online Cheese

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Re: Derr: Fisker
« Reply #1 on: April 05, 2013, 06:58:17 PM »
At least the Finish are happy.

Offline Valjean

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Re: Derr: Fisker
« Reply #2 on: April 05, 2013, 07:11:56 PM »
I doubt they got much out of it.  Honestly no one wins in deals like this. 

In the end there's only one law of this part of nature and you can't beat it: supply and demand.  Fiskar even today is producing a car that costs over $100K and goes 30 miles.  Not 30 mph, a total distance of 30 miles before its out of battery.  No rational consumer is going to buy that crap no matter how much Barack Obama dreams about a world filed with that shit in his sleep at night.

Offline The Bear Hunter

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Re: Derr: Fisker
« Reply #3 on: April 05, 2013, 11:03:05 PM »
Good riddance. But the only victims in this are the taxpayers and the laid off workers.
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Offline Valjean

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Re: Derr: Fisker
« Reply #4 on: April 05, 2013, 11:27:18 PM »
Good riddance. But the only victims in this are the taxpayers and the laid off workers.

I hear their advertising budget is intact for the moment though so there's always signature rental possibilities (seedy)

Offline travilanche

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Re: Derr: Fisker
« Reply #5 on: April 08, 2013, 03:52:28 AM »
http://money.cnn.com/2013/04/05/autos/fisker-lay-offs/

Fisker is a company that landed about a half billion dollars in one of the various "economic stimulus" packages President Obama created.  I think they're a very interesting example.

They drew ~$200MM of that money, then used it to go build a plant in Finland and hire workers there.  A fine example of government waste there; giving away free taxpayer money to create American jobs and having jobs created overseas.  Now had they been smarter they maybe would have built a plant in Mexico and still have some money left over... just saying.

Anyway Fisker is apparently out of government money and going bankrupt.  They've just laid off 75% of their workforce.  The real (or obvious at least) moral of the story though is that you can't have government spend your way to prosperity.  Government spending always spends the way to bankruptcy.

That is pretty damn disgusting actually.  They got a get out of jail free card and used it to move somewhere to get cheaper label?  Fuck them.  I feel so sorry for their employees but I am glad the company is going under.  For good this time hopefully.

Also I hope the hierarchy of executives get raped to shreds at some point by giant  hillbillies. 
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Offline Valjean

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Re: Derr: Fisker
« Reply #6 on: April 08, 2013, 02:00:32 PM »
Shit man if that makes you mad I probably shouldn't tell you there's typically about $25 billion / year in funds that disappear from the federal government against which no spending can be identified.