The Obama administration has flushed almost $200 million of the American taxpayer's money down the drain on another green company failure but ABC and NBC have yet to report on it. On Monday, the electric car company Fisker Automotive failed to make a $10 million payment on a $192 million federal government loan, bringing it closer to bankruptcy. Only CBS, on Thursday's This Morning, mentioned it - and then only gave it 15 seconds.
Fisker joins Solyndra in what has turned into a long list of Obama administration supported green companies that have turned into boondoggles for the American taxpayer that the Big Three networks have virtually ignored.
In 2009 when then Energy Secretary Steven Chu pushed for the multi-million dollar support he assured the company would develop hybrids that would "save hundreds of millions of gallons of gasoline and offset millions of tons of greenhouse gas emissions by 2016," and added that 5000 jobs would be created or saved. But since then electric car company has been forced to lay off three quarters of its employees. According to Bloomberg the Anaheim, California based company made about 2,500 of its $103,000 priced Karma models before it stopped production last year. Fisker spent a whopping $660,000 of taxpayer and investor money, to build each car.
The following Charlie Rose brief, aired on the April 24 CBS This Morning, is the lone mention of the Fisker failure on the Big Three networks:
CHARLIE ROSE: And the Wall Street Journal looks at the fall of electric car maker Fisker. The company appears headed for bankruptcy. Problems with its cars and falling gas prices have chipped away at demand. In 2009, the Energy Department approved $520 million in loans.
