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These layoffs are terrible for Fisker employees but there may be a silver lining to all this. The layoffs may allow FA the ability to pay the first installment (I think 10 million) of the DOE loan on time; this would take a bit of heat off the company and possibly set the stage for the DOE unlocking the rest of the loan (wishful thinking but a better chance than defaulting or going BK), finding a partner etc. Its a tough decision but FA has not manufactured a vehicle for a long time and it really does not make sense to have a bunch of employees on staff that are sitting idle. With the Atlantic being 90% complete there is really nothing much that FA can do but keep costs down, try to get a cash infusion and try to improve public perception (by paying the first installment to the DOE on time). We will see how this turns out but I think that these layoffs had more to do with paying the DOE loan on time than an impeding default and/or bk.
 

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That would hve been a good idea a year ago... But it's too little too late I'm afraid.
 

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@Smooth, I like your enthusiasm but I don't think so. Even if Fisker manages to make the payment, they are probably in breach of other conditions of the loan because after the layoffs they don't have anyone working on anything any more.
 

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How do we know the Atlantic is 90% complete? All we saw was a one-off show car that didn't move on it's own. They said the drivetain was "top secret" which is typically code for non-existent. (Also that last 10% tends to be >50% of the work. ;) )
 

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Here's the real silver lining: worried owners selling their Karmas at crazy prices. Ill happily take one or two more at the right price :)
 

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Here's the real silver lining: worried owners selling their Karmas at crazy prices. Ill happily take one or two more at the right price :)
I think it's a little too early to be this glib. A lot of people just lost their jobs and have to worry about their mortgages and kids' tuitions, etc. Let's wait a day or too before we unleash the gleeful declarations of avarice about profiting from their misfortune.
 

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Discussion Starter · #7 ·
How do we know the Atlantic is 90% complete? All we saw was a one-off show car that didn't move on it's own. They said the drivetain was "top secret" which is typically code for non-existent. (Also that last 10% tends to be >50% of the work. ;) )

I don't know personally if it is true; all I can go off of is the information Fisker releases publicly:

http://www.latimes.com/business/autos/la-fi-hy-fisker-karma-cash-crunch-20121207,0,753069.story

The design of the Atlantic and the engineering of its drive train is 90% done, Ormisher said. "The next big part would be moving in production equipment and that would be a major cost – the hard tooling and supplying the parts. We need to get that all in place.”
FWIW I heard from someone that a few employees are staying on for no pay/benefits to work for FA. Not sure if its true or not.
 

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Fab, I agree with you 100%, but any owner that thinks they are going to "profit from their misfortune" is one optimistic mutha, the owners who took a chance and laid out $100k shouldn't be feelin all too rosy, the prospect of ZERO future support is not very uplifting, everyone associated with this brand (owners, employees, dealers, etc.) are all feelin it right now. Sure, we can deal with oil changes, new tires, brake pads, gm parts that go bad and what not, but when it comes to body panels and software running these cares, we are fubar'ed friends.
 

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It's crazy what comes out when a company is facing Bankrupcy . $500K looks like Fisker wasn't paying bills long before closing their doors. No wonder the dealership hasn't been paid for warranty claims .
 

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Hard to believe that Fisker got $500K worth of value from their work on the website...
 

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Calculate it like this:

Fisker started in 2007/8, roughly 5 years to run a web site.
If they had 4 web designers/programmers working on the site on every day over that time, which calculates a daily income of about 800 to 1000 USD, per person then it is a real CRATIVE business case, not to get paid for years ;)

They seem to be berry bright...

... and I love the idea, to claim that money, after we know the financial situation :)

Stefan
German Karma Forum
www.karma-forum.de
 

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If they really ordered a web site for more than 800.000$ in mid of 2012, someone has to go to jail!!!


Stefan
German Karma Forum
www.karma-forum.de
 

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Hard to believe that Fisker got $500K worth of value from their work on the website...
The article also mentions advertising and "media buying." Fisker did run a 60 second TV spot during the Oscars on KTLA in Los Angeles

It wasn't just the web site. Whether they got value from that or not is pretty obvious now. In comparison, Tesla ran, and continues to run, on an apparently much leaner marketing budget.
 

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If they sent that spot during this years Super Bowl... why "coming soon" and why did the use a Karma with the old gear shift???

A spot for last years Super Bowl would belong to a former budget... as far as I read the contracts in the article, it all started in mid 2012.

So still: who the f..k orders web design for 800.000+$

@Brian: let's team up... we'd offer it for half the price.


Stefan
German Karma Forum
www.karma-forum.de
 
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