NEW YORK (AP) — He's the toddler who always bites. She's the 6-year-old drama queen prone to "it's mine" fits and hair-pulling. The problem, for you anyway, is they belong to your best friend, your neighbor or your exceedingly lenient big sister.
By Tom Hals WILMINGTON, Delaware (Reuters) - The bankruptcy of Fisker Automotive could end up costing the U.S. government much more than the $168 million it loaned to the maker of the Karma plug-in hybrid sports car. According to its bankruptcy filing on Friday, Fisker owns tax breaks worth $320 million. Fisker's bankruptcy papers said the Southern California-based company plans to sell its automotive operations to a business affiliated with Hong Kong tycoon Richard Li, but it will hold on to the tax breaks after it emerges from bankruptcy. Fisker piled up some $800 million in net operating losses in recent years, which have a future cash benefit worth approximately $320 million, according to the bankruptcy filing.