2/5/2015 - Ksla News 12 Investigation: Elio Could Face Fines With Further Production Delays

[John Painter]

Very interesting press release from KSLA News 12
http://www.ksla.com/story/28037171/...uld-face-fines-with-further-production-delays

 

[goofyone]

It sounds like while the extension is not signed yet it is merely a formality at this point as RACER Trust says they intend to grant the extension to mid-2016.

Elio has promised to bring 1,500 well paying jobs to the area. RACER Trust is holding the CEO to his promise. RACER Trust owned the plant after GM's bankruptcy, then sold the plant to Caddo Parish's Industrial Development Board.

As part of the deal, RACER Trust created an agreement with Paul Elio to employee 1,500 people.

"We actually guaranteed with a financial penalty, the number of jobs," said Elio.

The February 1, 2015 deadline to create those jobs has passed and so has several of Elio Motor's projected start dates.

But RACER Trust redevelopment manager Bruce Rasher says Elio won't be penalized because they are working on an extension.

"We have not formally granted the extension yet, we are still in discussions with Elio, but we fully intend to agree on changes in our contract to extend the date, to mid-2016," said Rasher.

 

[RUCRAYZE]

Very interesting press release from KSLA News 12
http://www.ksla.com/story/28037171/...uld-face-fines-with-further-production-delays

and pleasantly objective

 

[Ty]

Yes. Thank you guys for being on top of KSLA. That was, I think, the longest news segment on Elio I've seen.

 

[Karg]

In this world of supply and demand, their must be a universal demand for the Elio. The only sure way to accomplish this is to build the 10,000 or so for those who are all in for $1000. Those little gems out on the road, will not only cause a sensation, but will stir the "mommy I want one too" phenomenon. Then watch the quantity of flies (investors) on the dung heap (Elio) skyrocket.

 

[Jim H]

Very interesting press release from KSLA News 12
http://www.ksla.com/story/28037171/...uld-face-fines-with-further-production-delays

John, thanks for finding this article. While I am not happy about the repeated delays, this article is reassuring that the Elio will be produced.

 

[NSTG8R]

John, thanks for finding this article. While I am not happy about the repeated delays, this article is reassuring that the Elio will be produced.

I recommend you watch an interview Bert posted a little bit ago. It's about 18 minutes long, and he did throw the "cracked crystal ball" phrase out there again, but it was generally upbeat, and I for one, felt a little better about Paul's sincerity and confidence that he's going to do what he says he's going to do.

 

[hawg_ryder]

In this world of supply and demand, their must be a universal demand for the Elio. The only sure way to accomplish this is to build the 10,000 or so for those who are all in for $1000. Those little gems out on the road, will not only cause a sensation, but will stir the "mommy I want one too" phenomenon. Then watch the quantity of flies (investors) on the dung heap (Elio) skyrocket.

Hey Karg... could we make that at least 10,252...

h_r

 

[Bert]

Perhaps a few more?

 

[Cache Man]

Here is a new article that is dated 2/13/15.

http://airherald.com/who-is-behind-elio-motors-and-whats-the-hold-up/22447/