Wednesday, June 30, 2010

The Pet Gets the Cash. The Story of Fisker.

Obama gives $528,700,000 to one of his pets, Fisker Automotive.
The taxpayer-backed half-billion dollars (funded no doubt by the People's Republic of China) "invested" in this Obama venture capital (aka Obama Capital) startup, will help Fisker build the ultra-luxury $89,000 Fisker Karma, which is to be built in Finland, and its next generation model, perhaps called the "Obama".  This separates President Obama from Chancellor Adolph Hitler who financed the building of a "people's car" which became Volkswagon.  Obama's Fisker is not made for the unwashed masses, but for the rich, obviously, at nearly $90,000 base price.  It has been described as "the eco-friendly love child of a Jaguar and a Ferrari."  It is built in Finland; at least the Volks was built in Hitler's country, Germany.

Biden gets his hometown's former G. M. plant reopened.
U. S.-owned company General Motors closed a plant in Vice President Joseph R. "Joe" Biden, Junior's hometown of Wilmington, Delaware, in July 2009 during its bankruptcy. Now Obama's pet "venture capital" deal, Finland-based Fisker Automotive plans to build hybrid electric cars in that very same Biden plant! Soon, good old Joe is scheduled to visit the plant, near his hometown, Wilmington to brag of this ultra-earmark..

OK, Obama gives Fisker a half of a billion dollars to reopen a plant in Biden's hometown to build a luxury car most Americans cannot afford..  So far so good.  G.M. gets around $18,000,000 for the 3.2 million square feet manufacturing facility.  $5.625 a square foot.  (Cost to build, probably $50 a square foot.)

Fisker Plug-In Plant Will Be Union, UAW 'Essential' Says Company (

Fisker Automotive plans to welcome the United Auto Workers Union with open arms if its deal to acquire a former GM plant in Delaware goes through as planned.

While most private sector automobile companies try to avoid unions, especially in new plants, a Fisker spokesman told Green Car Advisor that Fisker is "looking to establish a mutually beneficial partnership with the UAW" as it opens its first U.S. assembly plant.  The new plug-in hybrid "rich family sedan" is expected to startup  production in late 2012, with a presently-anticipated price of $48,000.

The plant expects to employ as many as 2,000 at full capacity, a cost of $264,350 per job "saved or created".

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