TribLIVE

| News

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

The Fisker deal: Bad karma

Email Newsletters

Click here to sign up for one of our email newsletters.

Letters home ...

Traveling abroad for personal, educational or professional reasons?

Why not share your impressions — and those of residents of foreign countries about the United States — with Trib readers in 150 words?

The world's a big place. Bring it home with Letters Home.

Contact Colin McNickle (412-320-7836 or cmcnickle@tribweb.com).

Daily Photo Galleries

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

Sunday, Oct. 30, 2011
 

The Obama Energy Department's $529 million loan guarantee to the maker of the Fisker Karma electric sports car, which is creating 500 "green" jobs -- in Finland -- is crony capitalism at its worst.

Company founder Henrik Fisker told ABC News the 2009 loan went toward U.S. engineering and design work. But 500 assembly jobs are being outsourced to Finland -- because no U.S. contractor "could actually produce our vehicle."

More than a year behind schedule, Fisker has produced just 40 cars and delivered just two to customers, including -- surprise! -- liberal-Hollywood darling Leonardo DiCaprio.

So who's really benefiting• The usual suspects, of course.

A Fisker-backing venture capital firm's partners include former Vice President Al Gore and major Democrat donor John Doerr, according to The National Center for Public Policy Research.

Fisker -- a textbook example of crony capitalism -- bears all the hallmarks of another publicly funded "green jobs" financial disaster in the making. All involved deny it'll be another Solyndra, but that's what all involved with Solyndra said, too -- until that solar-panel firm's bankruptcy left taxpayers on the hook for a federally guaranteed $535 million loan.

For taxpayers and jobless Americans, the Fisker Karma is bad karma indeed.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read News