[8AVGMPG]

Just about everyone is getting laid off tomorrow. Dont know much more than that.

 

[smoothoperator]

 

[Nin ja]

Just about everyone is getting laid off tomorrow. Dont know much more than that.

Wow, I guess this means Fisker will be filling for BK soon. FIsker may end up like A123 with Waxing buying it after it files????

 

[doug]

Well at least we saw it coming, unlike the Solyndra debacle. Though I didn't think their panel geometry made much sense, Solyndra going under was a shock for the general public. With Fisker isn't been more of a slow downward spiral, many months in the making.

 

[Ira]

Right - no surprise here. Now we have a collector's car. And as has been stated before, warranties aren't dischargeable under Chapter 11. Also insurance will still be available at a reasonable price. Check out www.hagerty.com as one example.

So, after the news breaks, the major uncertainty to us as Karma owners will be not knowing why people are pointing at the car.

 

[Dr.GJD]

Right - no surprise here. Now we have a collector's car. And as has been stated before, warranties aren't dischargeable under Chapter 11.
Ira
"Warranties not dischargeable Under CH 11". What does this mean to us owners?

 

[Ira]

I'm not an attorney so you need do your own research. But my understanding is that manufacturers who declare Chapter 11 (reorganization in bankruptcy) are required by the court to set aside a warranty trust fund. Google on Daewoo, for example. The biggest problem is going to be access to parts. So the bottom line is if the service center can get parts, warranty claims should be honored.

 

[Nin ja]

Right - no surprise here. Now we have a collector's car. And as has been stated before, warranties aren't dischargeable under Chapter 11. Also insurance will still be available at a reasonable price. Check out www.hagerty.com as one example.

So, after the news breaks, the major uncertainty to us as Karma owners will be not knowing why people are pointing at the car.

these guys think so
http://autos.yahoo.com/news/top-10-new-car-future-classics.html


Fisker Karma

Likely to be a controversial choice, the Fisker Karma nonetheless easily meets the criteria to be a future collectible. The Karma is significant to Fisker and the automotive industry because the Karma is not only the first vehicle Fisker has ever built, but it’s also the first luxury extended-range electric vehicle. The Karma’s got rarity too, especially considering all of the production delays that were necessary for Fisker to recall all of its vehicles. Lastly, the Karma is a striking automobile to look at, and it’ll likely look just as good as it does today 20 or 30 years from now.

 

[8AVGMPG]

I'm not an attorney so you need do your own research. But my understanding is that manufacturers who declare Chapter 11 (reorganization in bankruptcy) are required by the court to set aside a warranty trust fund. Google on Daewoo, for example. The biggest problem is going to be access to parts. So the bottom line is if the service center can get parts, warranty claims should be honored.

Unfortunately this is going to be a problem for most things. Some things were sourced from GM (engine part etc) but anything else is going to be a tough time.

 

[rex]

For any of the people that work(ed) at fisker automotive, I want to say a personal thank you. You built one heck of a car, and I hope someone is smart enough to put back together the company and attract back the people that put their heart and soul into creating something innovate and stunning.

As someone who has been part of a few start-ups, including Wired, which ultimately sold off to conde nast rather than making it as its own public company, sure, there are certain events to second guess, and that is how we learn and grow. Wear "Fisker Automotive" on your résumé with pride... And know you have a lot of owners, like me, that love what you built.

Thank you.

 

[Fabulist]

Let's not zip up the body bag quite just yet. There is a fair amount of value in this company and if they go through Chapter 11, it may come back as a leaner and more nimble. Even in a chapter 7 situation, the assets may end up with a company that wants to continue running the company. Let's just wait and see what happens.

 

[smoothoperator]

Looks like Fisker has officially thrown in the towel, from their facebook page:

In the May 2013 Automobile Magazine, Jamie Kitman writes an article titled The Karma of Fisker.

He describes the Karma as a strutting peacock bad boy of a series hybrid...

At one point he summarizes it as an impressive achievement.... simultaneously credible as a driver's car, a showy green machine and as an exclusive luxury device....

The team at Fisker Automotive is proud of everything that has been accomplished along the way and as the friends, fans and followers you have been there providing encouragement and support along the way.

To that we want to say thank you and we suggest if you are not familiar with the Fisker Automotive Adventures over the last couple of years give Jamie Kitman's article a read (its on pages 28 and 29 in the May edition of Automobile Magazine) it is a fair and balanced summary of our path over the past few years.

 

[Stefan]

who said, they already filed for bankruptcy???
still rumors?


Stefan

 

[macnax]

Maybe I'm to positive, but what is the source of this rumour of everybody being laid off?

And the post on facebook can be interpreted on so many levels. It doesn't say they filled for bankruptcy. That being said, I never had in my professional career known of a company that first communicates on Facebook about it's bankruptcy.

 

[P90XMC2]

No longer a rumor..

http://www.autoblog.com/2013/04/05/fisker-pr-team-and-many-other-employees-face-layoff-this-morning/


Sent from my iPad using Tapatalk HD

 

[smoothoperator]

CODA did the massive layoffs a few months ago but still have not went BK.

 

[konig]

160 laid off, 53 remain.

 

[Michael]

surprised they didnt do it earlier since no car produced since summer and no cars to sell

 

[Antonin]

I have my grave doubts that the company was run at optimal level. As far as I can tell nobody bothered to communicate with existing car owners, who create the best goodwill and word-of-mouth for the product. Nobody addressed valid complains or issues with deadlines when they will be solved. And the company did not produce any PR activity that would be noted in mainstream press that would benefit the brand - aside from Middle East dealer launch. As Michael noted, no production from last summer should have resulted in either laser focus on existing owners and parallel efforts to find buyers or strategic partners. All that time was wasted.

March software update deadline came and went without even a whisper from the company. I think car would be ok, but company is run by some really peculiar decision-makers. Low sales also result from poor PR work and the whole scandal of having uninsured (or poorly insured) cars sitting for months in NJ port and getting wasted is another example that somebody was asleep at the wheel.

 

[doug]

CODA did the massive layoffs a few months ago but still have not went BK.

Instead of going bankrupt, CODA just stopped paying their bills and are being sued.

surprised they [Fisker] didnt do it [layoffs] earlier since no car produced since summer and no cars to sell

Actually no cars produced since last summer, but still plenty of cars left to sell was the problem. But I agree with you that one wonders what Fisker employees have been doing for all that time. There was news they hired that new marketing guy, but as one who follows EVs closely, I don't remember seeing any marketing. The only visible effort from the company, besides promising a software update, was that they were shopping around for more funding.