Caddo Parish Commission - May 20th 2014 Meeting Minutes

[Jeff Porter]

Will summarize my minutes questions:
"... Mr. Lichter said that Mr. Elio is selling approximately 65% of the cars in the nation." What is meant here, was the note-taker not quite accurate?

"... Answering a question from Ms. Baker regarding to the start of the hiring process, Mr. Elio stated that it depends on the signing of the contract. He informed the group of the stakeholders: Racer Trust, Elio, and Komal that are working on the contracts." What is the contract that is mentioned? As to the question of when is the hiring process to start, is it as simple as knowing the projected start of production date and working backwards 2-3 months from that? So maybe the hiring process starts in June or July 2015?

Thanks everyone!

 

[Jeff Miller]

Just a WAG, an engineering term for Wild-Assed Guess.

No, WAG is for non-engineers. A SWAG (Scientific Wild Ass Guess) is what engineers do

 

[whattheelf]

Wow, there's one other...or maybe two that talk this much....my grandma (she's old too!) who can go on and on and on....and on.....and on......the other is whattheelf! Just kidding! I'm telling you, you're wasting your time in this forum....it's not making a dent.......sorry fellas. Waste of time....get a hobby!

well I've got a lot of posting to do to catch up with jetpack, but I'm getting there, and clearing the fog from his crackpipe.

not wasting my time in this forum, its never a waste to educate people in what to look for, if you go around believing in fantasies you're handicapping yourself by default.

 

[whattheelf]

Buyer remorse? Nope. All talk? They bought the equipment, have the plant, have the IAV block, built prototypes... not ALL talk, apparently.

There are tiny inklings of thinking about operations, but no real progress happens until they first get a BOM frozen and fully wrung out engine from IAV, and a "block" is whats called a short block, because its just a chunk of metal. Deliver a longblock fully optimized with FEA analyses, then you have something, right now the block is a boat anchor, nothing more.

Secondly, no more funding, no launch, they are short @150M, it has to come from somewhere. Fleshing out the business takes more money than building a couple prototypes and having a block made.

 

[whattheelf]

One additional source of funding for Elio: It looks like some of the suppliers are working to cut costs and actually support the brand with serious financial aid for start-up. Partnering with your vendors is a win-win for everyone. The front-end costs may be high, but the benefits of funding your own market are far greater (and less expensive) than "chasing smokestacks" (industry term for knocking on doors) for new sales.

Not sure what looks like means. Manufacturers "partner" with suppliers regularly, but seldom are they investing in a company with a dream, would like to find out if this news confirms suppliers are subsidizing costs for EM, which would be completely unusual.

 

[whattheelf]

I'm sure a lot of connected business will sleep a lot better knowing that 50 or 60% of their annual sales are locked in.

IF that happens funding for launch may happen, just don't forget it has to be a sustained curve of demand thereafter, or a believable demand curve for equity to go all in to hit launch, and PE would have to believe also in hockey stick growth following that month over month, because there is no profit or ROI until six figures plus of these are being sold annually.

 

[RMClubfitter]

Will summarize my minutes questions:
"... Mr. Lichter said that Mr. Elio is selling approximately 65% of the cars in the nation." What is meant here, was the note-taker not quite accurate?

"... Answering a question from Ms. Baker regarding to the start of the hiring process, Mr. Elio stated that it depends on the signing of the contract. He informed the group of the stakeholders: Racer Trust, Elio, and Komal that are working on the contracts." What is the contract that is mentioned? As to the question of when is the hiring process to start, is it as simple as knowing the projected start of production date and working backwards 2-3 months from that? So maybe the hiring process starts in June or July 2015?

Thanks everyone!

Web page for Racers Trust http://racertrust.org/News/11185 The company handling GM Real Estate from the auto bail out.

Komal is probably Comau, one of Elios Suppliers ??? http://www.comau.com/eng/Pages/homepage.aspx

 

[Jeff Miller]

Web page for Racers Trust http://racertrust.org/News/11185 The company handling GM Real Estate from the auto bail out.

Komal is probably Comau, one of Elios Suppliers ??? http://www.comau.com/eng/Pages/homepage.aspx

I followed the Comau link and after impatiently looking around for something elio I did a search. Only one thing came up but it was the attached press release of Comau and Elio working together. (http://www.comau.com/eng/press/digital_release/Documents/PRrelase_Comau_and_Elio.pdf)

The read is fun but within is the answer to who is going to build and assemble the engine:

"Comau Powertrain Systems will be used to machine and assemble the Elio’s inline 3-
cylinder, 55 horsepower engine,"

along with other things Comau will do:

"while Comau Body Welding Systems will design, build
and install systems to assemble the vehicle’s welded space frame and apply the interior
and exterior composite body panels (floorpan, bodysides, roof, doors, hood, trunk and
fenders) to the frame."

Go ELIO!

 

[Rickb]

Jeff, Thanks for finding and posting that info! Go Elio indeed!!

 

[pj rogers]

Hey Quick...I guess you were talking to some else because you got a lot of stuff incorrect. But it sounds like your kind of emotional about the situation. Cool down a bit.
What we do know for a fact EM has to raise a lot of money!
We also know they probably cannot do it with the reservist sending money.
You are correct in the motorcycle license problem, and it is a problem today. Your family will require a motorcycle license to drive the elio in many states...which means your wife if you have one, and all your children will need one also. Not a selling point!
We know and have watched the media drive the P3 and the P4 around and reports are good and bad. A P4 that sounds like a tractor probably isn't the best way to convince the folks standing around that EM can build a quality vehicle for $6800.
We know the price of the elio will be kept under $7000 as of this week. Cost go up as the delays mount.
I know I don't live in Ohio.
I don't have to convince anyone, the results will be proven as they have been for the last 7 years and no completely operational vehicle...the basics are still not in the P4...4 concept cars and no finished elio.
I like the vehicle, that is why I am here, but I do not have faith in EM at all. Way to many errors and delays.
Pointing out these problems, I hope, will make all of us "take some action" and put pressure on EM to, as you said, do the right thing. I am glad you are done...it must be hell to believe that strongly and see the time line get longer instead of shorter.