This is a Fisker Karma. It is a plug-in electric hybred. Obama has taken our money and invested it in this company (he actually thinks he knows how to do such things).
No, it is not made in the United States. Try Finland. The CEO, Henrik Fisker, told media that he had considered setting up a plant in California, but environmental regulations made it impossible, from a business perspective. While the company is "based" in California, that only means it has headquarters in that state.
Obama gave Fisker $529 million in loan guarnatees, similar to the loan total of the bankrupt solar company, Solyndra. “This investment will create thousands of new American jobs and is another critical step in making sure we are positioned to compete for the clean-energy jobs of the future,” according to an Administration underling back in 2009. $359 million of the initial loan amount is to be used to retool a closed GM plant in Wilmington, Delaware, the home state of VP Joe Biden. One of the investment partners in this company is Fat Al Gore.
Pictured in this post is a Fisker Karma, a luxury hybrid priced at just under $100,000. In a 2009 WaPost article, federal projections promised 5,000 jobs created in the Delaware plant, which is to produce a more inexpensive vehicle. Tonight (10/21/11) on Greta (Fox News), that total was reported at 2,400 jobs - when the plant is completed. The Delaware investment will cost $143,000 per job. The business arrangement with the Obama government forces GM's Volt into competition with Fisker. It is not apparent that either car is a viable business circumstance.
There are serious questions about the future of this company. It has failed to meet efficiency standards determined by the maniacs at the EPA. Its production plans have been pushed back into 2013. By this time, 2011, Fisker was to have produced 11,000 vehicles. Instead, it has produced a scant 40 units.
There is no "upside" to this bit of news and one wonders just what Obama was thinking?
It is my understanding that this Administration is the first to function as an investor for private enterprises. Understand that Obama is busy pretending to be the national CEO, a man who has absolutely no background in matters economic. He does not understand how businesses work. He has no clue as to logistics and requisite planning. He just bulls ahead and hopes for the best. He calls it "making a good bet." We call it the "work of an ignorant." He calls it "investment," we call it "picking winners and losers." Understand that government simply cannot do this without crossing the line. Conflicts of interest cannot be avoided. I would argue that such conflicts are systemic to the whole process. Anyway,
expect to see a dozen or more such stories before election day, 2012.
Sources:
A 2009 article found in the WaPost
A 2011 WaPost article published today.
A 2011 NY Times article.
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