With a substantial repayment of the $ 529 million loan guarantee it received almost four years ago –courtesy of the U.S. taxpayer — coming due at the end of the month, the electric car company Fisker is exploring the idea of filing for bankruptcy before then. Sources have confirmed that an influential law firm from… Read more »
Posts Tagged: Auto
Unbelievable!… Obama Is Pushing Risky Subprime Auto Loans, Too
In his early activist days, Barack Obama the community organizer sued banks to ease lending practices. State Sen. Barack Obama and Fr. Michael Pfleger led a protest against the payday loan industry demanding the State of Illinois to regulate loan businesses in January 2000. During his time as a community organizer Barack Obama led several… Read more »
Demand for Used Cars Leaves Auto Dealers Scrambling
According to Thursday’s Wall Street Journal, the U.S. auto market is now craving used cars so much even dealers are seeking out used regular consumers’ vehicles to buy them for their own inventory. Doug Waikem, an auto dealer in northeast Ohio, said, “I am spending more time now trying to buy cars than sell them.”… Read more »
Delaware taxpayers increasingly on the hook as Fisker auto plant idles
Delaware taxpayers appear to be getting soaked twice under a deal in which the Democratic governor lent $ 21.5 million to a hybrid electric carmaker to set up shop in the state. The company has yet to produce a car in Delaware, and taxpayers are footing the electric bill for the idle plant. Source: FOXNews.com