U.S. Congress grills faltering Fisker
Fisker, maker of the Karma electric sports car, continues to have troubles. A U.S. congressional hearing was held on Wednesday afternoon that was intended to uncover the truth about the company’s use of federal environmental business loans.
What we already know is that the Bush administration’s Energy Department pursued Fisker to take the loans in 2009 in the form of a $529 million (U.S.) line of credit. The company only used $192 million before being cut off in June 2011 by the Obama administration.
We also know that Fisker only produced 2,000 Karma models and that they were built in Finland, not in the United States. We know that the Atlantic model, which was to be produced in an old GM plant in the U.S., never came to be. We know that Henrik Fisker left the company recently and that the company let go all of its employees a couple of weeks later.
So, what exactly was learned in Wednesday’s hearing? We learned that the Obama administration knew that Fisker wasn’t hitting its targets as of February 2011 and possibly as early as June 2010. We also learned that Fisker had set a target of 250,000 Karmas by 2015, with 60,000 of them to be built before 2012.
We learned that taxpayer money that was lost between February 2011 and June 2011 was about $32 million.
DODGE ANNOUNCES CHL FAMILY ALL-STARS
The Canadian Hockey League provides some of the fastest, hardest-hitting hockey action around. But as fans cheer on teams such as the Oshawa Generals, Niagara IceDogs and the Barrie Colts, it can sometimes be hard to remember that the players are really just kids.
Most players are still in high school, and many have left home for their shot at making it to the NHL. Leaving friends and family at home is tough for any kid, but there are hockey-loving families who open their own homes to young players, so they are not completely on their own.
To reward these people, the CHL and Chrysler Canada created the Dodge Family All-Stars program, where families posted their stories online and fans vote for their favourites. The three finalist families are Bill and Pat Moore, billets of the P.E.I. Rocket; Terry and Joanna Easterby, billets of the Sarnia Sting; and Kelly and Dan Snowden, billets of the Regina Pats, who have all received a trip for two to the 2013 MasterCard Memorial Cup. While at the big event, one of the finalist families will win a 2013 Dodge Grand Caravan. Perfect for getting these future hockey stars to the rink!
FORD EARNS FIRST-QUARTER PROFIT OF $2.1 BILLION
While topping the sales charts like Ford did in Canada last month is nice, the more important race is the one to a solid bottom line. Driven by strong sales in North America, Ford has posted a first-quarter profit of $2.1 billion — before taxes. This marks the fifteenth quarter in a row that the Blue Oval has shown a profit.
TOYOTA CANADA SHINES FOR EARTH WEEK
Last week, I reported that Toyota had sold five million hybrid vehicles globally, a statistic that would indicate that the company takes being green pretty seriously. There is more to being green than just selling hybrid cars, though, and Toyota Canada showed through Earth Week that green runs deep in the organization. To kick off the week, Toyota Canada staff and executives headed out into the community near their Scarborough office to take part in the “20-Minute Toronto Makeover.” The team gathered up 70 bags of garbage in that short time. Being green involves more than just cleaning up the neighbourhood; it also means looking to the future. To that end, Toyota Canada has created the Toyota Earth Day Scholarship program, which has been awarded to 20 Canadian high school students who were chosen thanks to their environmental leadership.
The scholarship awards each student $5,000 to be put toward their post-secondary education. From those 20, one national winner will be chosen, who will also receive a new Panasonic Notebook computer along with the title.
Of the 20 finalists, five are from Ontario: ShengDi (Sharon) Chen, Markham; Nicole Doray, Thornhill; Kristina Parker, Conestogo; Kelsey Shaw, Orillia; Monique Tuin, Georgetown. wheels@thestar.ca