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Henrik Fisker leaves his eponymous company

Henrik Fisker, co-founder of Fisker Automotive, has resigned from the company as Fisker seeks funding to move forward. But Henrik Fisker managed to convince the car world his Fisker Karma was credible, even if its gestation has been plagued by problems,  the latest of which has been the demise of its battery supplier – A123 Systems – and the wrecking of a dock full of seemingly uninsured Karmas by Hurricane Sandy. The current problems at Fisker has seen them seeking a new investor, with two Chinese companies – Geely and Dohnfeng – vying to take a majority stake in Fisker Automotive and help Fisker recover sales of the Karma and move on with Project Nina, the smaller Fisker Atlantic.

How Fisker fell apart

At last week's politically charged congressional hearing on the troubles of Fisker Automotive, Rep. Jim Jordan, R-Ohio, said that the company had "no business acumen" and that "taxpayers have effectively subsidized luxury novelty vehicles for the likes of Justin Bieber, Leonardo DiCaprio and Al Gore." Ouch. Republicans eager to score points against President Obama had a field day last week with Fisker.

RM Meadow Brook auction tallies $5.4 million

A 1935 Auburn 851SC Boattail Speedster led the way at an auction held in conjunction with the Meadow Brook Concours d'Elegance, selling for $462,000 as the event raked in a total of $5.4 million. The Auburn was intricately restored and just the ninth version built. It was originally a show car at the Chicago auto salon.