Lutz And Chinese Offer One Penny On The Dollar For Fisker

Fisker is worth around 200 Karmas at retail. "A team including former General Motors Co executive Bob Lutz and China's largest parts maker is looking to buy Fisker Automotive for $20 million, a fraction of the "green" car company's estimated worth almost a year and a half ago," Reuters says. Late 2011, Fisker told prospective investors that its total capitalization was "approaching" $2 billion, according to an investor document filing obtained by Reuters. If the bid is successful, Fisker would have officially lost 99 percent of its valuation over the course of  less than two years. Fisker now owes the DOE some $171 million in loans. Another deal is in the works to buy out the DOE's position in Fisker at a discount. The DOE had no comment. . from The Truth About Cars http://www.thetruthaboutcars.com

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