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My Fisker becomes a $100K+ bet against all odds!!!

5554 Views 16 Replies 11 Participants Last post by  Dutch, 
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The Feb 6th headlines across media channels about Fisker laying off due to financial crunch is making me concerned about the two Fisker orders we placed and still have not received to date!

Everyone, and I mean everyone is telling me to pull out and kill the orders...as its a dangerous bet. The coolness factor was the primary reason for my purchase....I am now really concerned how cool will a karma look without support?
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atiquester said:
The Feb 6th headlines across media channels about Fisker laying off due to financial crunch is making me concerned about the two Fisker orders we placed and still have not received to date!

Everyone, and I mean everyone is telling me to pull out and kill the orders...as its a dangerous bet. The coolness factor was the primary reason for my purchase....I am now really concerned how cool will a karma look without support?
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Don't worry. $ituation is looking much better. You'll see soon. Stay the course! Fisker is working out the bugs and stabalizing the software.
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M
I like DeLoreans
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D
If everyone pulls out then it will become a self-fulfilling prophecy.
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dennis
Don't get sucked in by the media who don't understand how startup companies work and can get eyeballs with headlines that scream "ANOTHER ELECTRIC CAR COMPANY FAILURE".

I remember when Apple laid off 40 employess the year after it went public, and it was all gloom and doom. Look where they are now!
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D
Tesla was and is much closer to the brink. Musk had to go all out with his private money to keep it alive last year, if I'm informed correctly. And Tesla is without much income for the next six months or so, but it is burning a lot of it on development of the Model S (and next models) and on re-building a factory. Will they be the next to meet the Wrath of Romney c.s.?

As a European I find it ever harder to understand some American politicians. All over the world governments are supporting their industries, from Europe to China to Korea. If American manufacturing is being pushed off the map because of that, is it so bad for the US government to counter some of that by loans or even subsidies? The Obama-administration is being blamed for spending billions to keep Detroit alive. And if it hadn't kept it alive it would have been blamed for one million lost jobs...
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dennis
Dutch said:
Tesla was closer to the brink. Musk had to go all out with his private money to keep it alive, if I'm informed correctly. And is anybody still talking about that?
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You are correct. There was a great article in Wired mag detailing all of this. Worth a read.

http://www.wired.com/magazine/2010/09/ff_tesla/
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atiquester said:
The Feb 6th headlines across media channels about Fisker laying off due to financial crunch is making me concerned about the two Fisker orders we placed and still have not received to date!

Everyone, and I mean everyone is telling me to pull out and kill the orders...as its a dangerous bet. The coolness factor was the primary reason for my purchase....I am now really concerned how cool will a karma look without support?
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Everything in life is a bet my friend....go buy a new 911 & then let some idiot run a red light and damage it, no matter what you do, car will nvr be the same & your gonna take a beating on resale.....just got my new karma, is 5th car in the stable, car has the updated software & clip recall completed, have had zero issues thus far, i really, really love it, is unique & i feel like the quality is there....nothing is ever a sure bet, but would be shame for Fisker to fail because no one is willing to take a chance on a visionary car builder & i've owned a delorean....this is no delorean, this is a fine automobile.
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U
The car is undoubtedly great and fun. As far as the Fisker Automotive going under- far from it!
The DOE loan has been frozen since May and they have made alternative arrangements. They raised $260 million in the last month of 2011 from private sources and are working on restructuring the DOE loan. If the loan doesn't become available soon an alternative loan arrangement has already been made with a private bank. Remember, this is a very cash intense business! The lay offs are just prudent mgt of resources intill new pile of cash is available. They are not however cash poor.
Buy the cars enjoy them and enjoy instant celebrity:)
You'll be ogled more in your Karma then you ever were in the Vantage or Lambo. And you will enjoy the plush drive- guarantee!
And the support is there and will remain. As much as I bitched about the delivery, I can't say enough (positive) about post delivery TLC.
Cheers.
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Urojet said:
If the loan doesn't become available soon an alternative loan arrangement has already been made with a private bank..
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If the remaining DOE loan goes away & Fisker is forced to seek a private loan, it could actually turn out to be one of the best things to happen for Fisker. I like the idea of Fisker reducing its dependence on government $'s. It would also make a great PR statement.
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Urojet said:
The car is undoubtedly great and fun. As far as the Fisker Automotive going under- far from it!
The DOE loan has been frozen since May and they have made alternative arrangements. They raised $260 million in the last month of 2011 from private sources and are working on restructuring the DOE loan. If the loan doesn't become available soon an alternative loan arrangement has already been made with a private bank. Remember, this is a very cash intense business! The lay offs are just prudent mgt of resources intill new pile of cash is available. They are not however cash poor.
Buy the cars enjoy them and enjoy instant celebrity:)
You'll be ogled more in your Karma then you ever were in the Vantage or Lambo. And you will enjoy the plush drive- guarantee!
And the support is there and will remain. As much as I bitched about the delivery, I can't say enough (positive) about post delivery TLC.
Cheers.
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So true! :thumbup:
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S
Good news!

Did you read this?
http://myfiskerkarma.com/2012/02/09/speedy-is-back/#comment-17

Sorry, I don't know how to start a new thread. :mad:
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Sparky168 said:
Good news!

Did you read this?
http://myfiskerkarma.com/2012/02/09/speedy-is-back/#comment-17

Sorry, I don't know how to start a new thread. :mad:
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Dude, making duplicate posts all over the place runs the risk of being marked as a spammer.

-Brian
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Dutch said:
Tesla was and is much closer to the brink. Musk had to go all out with his private money to keep it alive last year, if I'm informed correctly.
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Be careful confusing "was" with "is," and with "last year" being 2011, not 2008.

Here's a recent article from Forbes: "3 Key Differences Between Tesla and Fisker"

I hope Fisker can make it past their financing problems, as Tesla apparently has.
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brian said:
Dude, making duplicate posts all over the place runs the risk of being marked as a spammer.

-Brian
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Thanks Dude. It does not look good, does it?:dodgy: I can't figure out a way to start a new thread..."new thread challenged".:blush:

But isn't it refreshing to see a Karma operates the way it is supposed to, narrated by an owner who can write beautifully and with a good website to boot? :D

I am curious in understanding why and how? Could it be the discovery/adaption of how to operate this innovative machine, instead of inadvertent abusive startup, attempting to test the robustness of the system?:idea:

I can't wait to see a true 0-60 time with the proper running of the car. Instead of one in a limp mode, because it is simply not representative of the car.:p

Not saying all software problems have been solved, I am just excited to see the true performance of the car, the true experience of the Karma and the excitement of the owner.:D

I promise I won't post this reply elsewhere. :p
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dennis
teslaowner said:
Be careful confusing "was" with "is," and with "last year" being 2011, not 2008.

Here's a recent article from Forbes: "3 Key Differences Between Tesla and Fisker"

I hope Fisker can make it past their financing problems, as Tesla apparently has.
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Yes, a much more valid comparison would be Fisker in early 2012 and Tesla in 2008. Here's an interesting post/article from that timeframe:

I have been watching the pregress (sic) of Tesla Motors, and find that they have only delivered 50-60 cars with over 1200 deposits taken from buyers still on the waiting list, and have only 9 million left after closing its Rochester Hills technical center, suspending its Model S sedan, and laying off about 50% of its employees. The intermediate transmission on many delivered cars is flawed and the company is to replace them.

Now, Elon Musk is reporting that he will invest back into the company with hopes of 20 million investments from Tesla investors and hopes for 200 million in Government loans.
...
I still think that when the bugs are worked out and they get the production up, there will be no lack of interested buyers....If they last long enough to get it done.

The article referenced in the post is Here.

This all sounds very familiar, although Fisker is in much better shape financially than Tesla was at that juncture.
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teslaowner said:
Dutch said:
Tesla was and is much closer to the brink. Musk had to go all out with his private money to keep it alive last year, if I'm informed correctly.
Click to expand...
Be careful confusing "was" with "is," and with "last year" being 2011, not 2008.

Here's a recent article from Forbes: "3 Key Differences Between Tesla and Fisker"

I hope Fisker can make it past their financing problems, as Tesla apparently has.
Click to expand...
I was speaking from memory, which obviously didn't serve me well. But I'm still not sure if the 'was' isn't also an 'is'. I have no insight in the financial situation at Tesla (maybe someone can enlighten me; since they are a public company there should be reports out there), but it can't be strong either as they are not generating much income for at least the next half year and are burning a lot of it on development, the factory and people. But then there's always stocks that can be issued.

Don't get me wrong. I do hope Tesla is doing well right now and will eventually become a big player. Electric cars are the way forward. And I do like the technology and concept of the Model S (but not so much the packaging). My brother wants a Model S, and I could even imagine myself buying (another) Tesla-car in the future.
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