Fisker’s Ocean of Debt: The Electric Swindle
In a shocking turn of events, Fisker, the once-hyped electric vehicle startup, is attempting to offload its remaining inventory of Ocean SUVs to a New York-based leasing company for a paltry $46.25 million. That’s a staggering $14,000 per vehicle, a far cry from the roughly $70,000 starting price they once commanded. But don’t worry, this is just the tip of the iceberg.
Fisker’s lawyers are desperately trying to push through this sale, citing the need to fund "vital business expenses" and prevent the company from descending into complete chaos. But don’t be fooled – this is nothing more than a desperate attempt to salvage what’s left of the company’s crumbling reputation.
And what about the unsecured creditors, you ask? Well, let’s just say they’re not exactly thrilled about this development. Lawyers for the creditors have expressed concerns that they may not see a dime of the proceeds, given the company’s massive debt of over $1 billion. It’s a classic case of "heads, I win; tails, you lose."
But what’s most egregious is the sweetheart deal Fisker has struck with the leasing company. American Lease will be buying the Ocean SUVs on a sliding scale, with prices ranging from $2,500 to $16,500 per vehicle. That’s a far cry from the fair market value of these vehicles, and it reeks of favoritism.
And don’t even get me started on the company’s CEO and co-founder, Henrik Fisker. He’s still raking in a fat salary, despite the company’s clear financial woes. It’s a classic case of "business as usual" for this entitled CEO.
So, will this sale go through? It’s hard to say, but one thing is certain – Fisker’s creditors will be watching this situation closely, waiting to pounce on any opportunity to squeeze a few more bucks out of this sinking ship.
Stay tuned, folks. This is just the beginning of Fisker’s Ocean of debt.
