Skip to comments.Feds Hire Houlihan Lokey to Track Fisker
Posted on 04/24/2012 11:37:55 AM PDT by Haiku Guy
A Los Angeles investment bank has been contracted by the U.S. Department of Energy to Anaheim-based Fisker Automotive Inc.s fundraising efforts as it renegotiates a $529 million loan from the federal agency.
The Energy department hired Houlihan Lokey after holding up additional installments of a loan it agreed to provide the make of luxury hybrid vehicles in September 2009, according to Bloomberg.
Earlier this month Fisker Chief Executive Tom Lasorda raised some eyebrows when he said the Anaheim-based luxury automakers next model could be built outside the U.S.
Fisker had planned production of its newly named Atlantic model at a former General Motors Co. plant in Delaware it purchased for $18 million.
The hybrid four-cylinder features four seats, a longer wheelbase and more trunk space.
The Atlantic is expected to sell for about $50,000 and is widely seen as a make or break model for Fisker and a bellwether for the electric-car industry.
(Excerpt) Read more at ocbj.com ...
Well knock me over with a feather!
This was going to be the "economy" model, but is slated to sell for upwards of $50,000.
Call me a cynic, but this looks like just another stream to funnel off money to another Friend of the administration, Houlihan Lokey.
Sounds like the name of a bar or a hooligans club.
I’ll call you a realist. You OK with that?
Put me in your camp on this.
Senior Managing Director
$8500 in mostly Dem contributions at FEC.gov, including Alcee Hastings.
Senior Managing Director
$16100 in mostly Dem contributions at FEC.gov, including $2300 to Obama for America.
If anyone else wants to do the rest of the board of directors of this employee-owned business, they are here:
Use the search here:
Do you mean the Al Gore $53mil taxpayer backed loan?
correction $529mil taxpayer backed loan.
I think that is a Half Billion Dollars the taxpayers will never see again.
And now Fisker is backing out of the plan to build the $50,000 “Economy Car” Atlantic in Delaware. I guess they are going to build them in Finland.
So we are paying a Half Billion Dollars to save or create jobs in Finland...
It looks like a 4-door version of the 1997 Oldsmobile Alero Alpha concept.
Fisker does a good job on the visuals. No doubt about that.
And, apparently, slick packaging is enough to separate credulous investors (and the US Department of Energy) from their money.
Engineering? Not so much...