By Pat Stacey
While President Obama takes to the campaign trail with a message about the success of General Motors and, following the Super Bowl, we hear of political analysis about the Chrysler commercial featuring Clint Eastwood, there is another car maker that is worth taking note of.
I am speaking of Fisker Automotive. You may not have even heard of Fisker but you own a piece of it as a taxpayer, or probably soon will. Our government has backed a loan of $529 million for Fisker to build affordable electric sedans.
Well Fisker has not met any of its production goals and has even gone as far as to plan to move some of its assembly work to Finland. It has gone south quickly and now Fisker is also threatening layoffs in the US.
This is eerily similar to the Solyndra debacle where our government has provided loans for companies that have failed miserably in the marketplace or have just failed to get off the ground.
In the Fisker example, they have used about $200 million dollars to produce 300 cars. You do the math.
So it appears that this will not spur the electric car market and it will most likely fade into the sunset like a light bulb on a dimmer. Perhaps it will teach the government that the reason General Motors and Chrysler are back on the feet is because they are making products Americans want and can afford and not because the government force fed an idea that there is no market for.