Fisker goes to Congress: DOE attacked amid hints loan could still be paid back
#1
04-24-2013, 04:40 PM
Fisker goes to Congress: DOE attacked amid hints loan could still be paid back
Filed under: EV/Plug-in, Hybrid, Legislation and Policy, USA, Fisker
With a title like "Green Energy Oversight: Examining the Department of Energy's Bad Bet on Fisker Automotive" it was no surprise that the slant of today's Congressional hearing by the House Oversight subcommittee on Economic Growth, Job Creation, and Regulatory Affairs was overwhelmingly negative. In fact, for over three hours, it was perhaps the definition of political theater. After all, where else do you get to hear a House of Representatives member (Gerald Connolly, D-VA) say the hearing was like a Soviet show-trial while Darell Issa (R-CA) compared Henrik Fisker (co-founder of Fisker Automotive and a witness today) to Bricklin and Tucker? Oh, and Issa also said Fisker made mistakes that failed presidential candidate Mitt Romney would not have made his first day out of business school. All this and more was on display today in Washington, DC.
The hearing was incredibly - and unsurprisingly - political, with Democrats speaking positively about the overall DOE loan program and Republicans attacking Fisker for taking $192 million (almost always rounded up to $200 million) and not paying it back. Not yet, anyway. Both Fisker (who made it clear he was not speaking for the company, since his official connections have ended) and Fisker COO Bernhard Koehler said that Fisker has not yet lost any taxpayer money, and Koehler said there are still plans in place to pay everything back. Fisker's take was that there is a lot of value left in the automaker that could be brought to bear on paying the DOE back. Of course, Fisker's official website has been down all day, in case you were looking for one more sign that things are not going well for the California automaker.Continue reading Fisker goes to Congress: DOE attacked amid hints loan could still be paid back
Fisker goes to Congress: DOE attacked amid hints loan could still be paid back originally appeared on AutoblogGreen on Wed, 24 Apr 2013 19:38:00 EST. Please see our terms for use of feeds.
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With a title like "Green Energy Oversight: Examining the Department of Energy's Bad Bet on Fisker Automotive" it was no surprise that the slant of today's Congressional hearing by the House Oversight subcommittee on Economic Growth, Job Creation, and Regulatory Affairs was overwhelmingly negative. In fact, for over three hours, it was perhaps the definition of political theater. After all, where else do you get to hear a House of Representatives member (Gerald Connolly, D-VA) say the hearing was like a Soviet show-trial while Darell Issa (R-CA) compared Henrik Fisker (co-founder of Fisker Automotive and a witness today) to Bricklin and Tucker? Oh, and Issa also said Fisker made mistakes that failed presidential candidate Mitt Romney would not have made his first day out of business school. All this and more was on display today in Washington, DC.
The hearing was incredibly - and unsurprisingly - political, with Democrats speaking positively about the overall DOE loan program and Republicans attacking Fisker for taking $192 million (almost always rounded up to $200 million) and not paying it back. Not yet, anyway. Both Fisker (who made it clear he was not speaking for the company, since his official connections have ended) and Fisker COO Bernhard Koehler said that Fisker has not yet lost any taxpayer money, and Koehler said there are still plans in place to pay everything back. Fisker's take was that there is a lot of value left in the automaker that could be brought to bear on paying the DOE back. Of course, Fisker's official website has been down all day, in case you were looking for one more sign that things are not going well for the California automaker.Continue reading Fisker goes to Congress: DOE attacked amid hints loan could still be paid back
Fisker goes to Congress: DOE attacked amid hints loan could still be paid back originally appeared on AutoblogGreen on Wed, 24 Apr 2013 19:38:00 EST. Please see our terms for use of feeds.
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#2
04-24-2013, 06:12 PM
Re: Fisker goes to Congress: DOE attacked amid hints loan could still be paid back
It is highly doubtful that Fisker will pull out of this.
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