DEATH WATCH? Fisker Hires Outside Firm To Conserve Cash Flow

Fisker Automotive Inc., the rechargeable-car maker that’s seeking a partner or a buyer, hired Huron Consulting Group Inc. (HURN) to help manage day-to-day operations during negotiations.

Huron’s Hugh Sawyer is serving as chief administrative officer, said Roger Ormisher, a spokesman for Anaheim, California-based Fisker. The closely held company said in December that it was working with Evercore Partners Inc. (EVR) to find potential investors or partners as Chief Executive Officer Tony Posawatz seeks to raise money.

Sawyer, a turnaround consultant, is in place to help conserve cash as Fisker seeks a buyer or a partner, said a person with knowledge of the process. The Energy Department pulled loans to Fisker last year, depriving the company of more than $300 million in funds.

 

PLAY - 1/31/2013 4:45:14 PM

+2 Boost

Not a good business model, not enough cash, not enough investor confidence. They are dead in the water. They should take a few pages from Tesla's playbook.