Elio Motors - Caddo Parish Meeting On 1/15/15

[JEBar]

If I was an Elio Motors supporting Caddo Parrish Commissioner voting to invest millions of taxpayer dollars I would be more interested in a detailed production timeline than I am as a pre-order customer. I would want to see activity and hiring at the plant ASAP to get my local economy moving forward. I'm not concerned about my Elio delivery 2015 or 16 but I would be a pain in the butt Commissioner wanting to get questions answered regarding progress and timelines to production.

point understood .... that said, given what we know, what more can he say .... he can say they have reason to believe production will begin sometime this year ..... he could say that the conversion of the plant by selling unneeded equipment is in process .... he can say engineering and testing continues (thinking about the motor) .... he can say work on legislation continues across the country .... he can say the tour is being well received and the number of reservations is growing .... he can say they have applied for a federal loan which would provide sufficient funds to expedite the process .... that they have reason to be optimistic about the loan being approved but that they have no control over how long it will take the feds to complete the process .... he can say that contingency plans are being formulated for the eventuality that the loan isn't approved .... all of that has been reported numerous times .... its clear that some folks won't be happy with such a statement

 

[Ty]

Elio doesn't owe any answers to Caddo Parrish. Any involvement by Elio in their conferences is voluntary. Elio isn't even renting the space from the Parrish. Racer Trust is.

 

[goofyone]

Elio doesn't owe any answers to Caddo Parrish. Any involvement by Elio in their conferences is voluntary. Elio isn't even renting the space from the Parrish. Racer Trust is.

IRG is the company that holds the plant lease and Elio Motors will be leasing space from them.

Racer Trust is property part of 'Old GM' formed as part of GM's bankruptcy. They sold the assembly plant property to Caddo Parish and the equipment to Elio Motors.

 

[creekstone]

Elio board member, Stu Lichter, is founder, President and Chairman of the Board for IRG.

http://www.eliomotors.com/#board-members

 

[goofyone]

Elio board member, Stu Lichter, is founder, President and Chairman of the Board for IRG.

http://www.eliomotors.com/#board-members

Yes he is and of course that is no accident.

Why pay for a property when the local government is willing to purchase it for you and lease it to one of your investors who will be able to lease out the rest of the property at profit? That's what I call a win-win-win situation.

 

[creekstone]

That's what I call a win-win-win situation.

No doubt! The upfront "gift" is substantial. But the long-term benefit is also impressive... IRG retains the right to buy the entire facility.

 

[Ty]

IRG is the company that holds the plant lease and Elio Motors will be leasing space from them.

Racer Trust is property part of 'Old GM' formed as part of GM's bankruptcy. They sold the assembly plant property to Caddo Parish and the equipment to Elio Motors.

I stand corrected. Really, my memorizing that good and I didn't bother looking it up. I know Elio is a sub-leader basically.

 

[Jay3wheel]

point understood .... that said, given what we know, what more can he say .... he can say they have reason to believe production will begin sometime this year ..... he could say that the conversion of the plant by selling unneeded equipment is in process .... he can say engineering and testing continues (thinking about the motor) .... he can say work on legislation continues across the country .... he can say the tour is being well received and the number of reservations is growing .... he can say they have applied for a federal loan which would provide sufficient funds to expedite the process .... that they have reason to be optimistic about the loan being approved but that they have no control over how long it will take the feds to complete the process .... he can say that contingency plans are being formulated for the eventuality that the loan isn't approved .... all of that has been reported numerous times .... its clear that some folks won't be happy with such a statement

Cancel the meeting you have said it all. Pretty much.

 

[goofyone]

point understood .... that said, given what we know, what more can he say .... he can say they have reason to believe production will begin sometime this year ..... he could say that the conversion of the plant by selling unneeded equipment is in process .... he can say engineering and testing continues (thinking about the motor) .... he can say work on legislation continues across the country .... he can say the tour is being well received and the number of reservations is growing .... he can say they have applied for a federal loan which would provide sufficient funds to expedite the process .... that they have reason to be optimistic about the loan being approved but that they have no control over how long it will take the feds to complete the process .... he can say that contingency plans are being formulated for the eventuality that the loan isn't approved .... all of that has been reported numerous times .... its clear that some folks won't be happy with such a statement

I bet if you post this after the meeting you will have pretty much paraphrased what Paul Elio said during the meeting and during the Q &A session.

Paul Elio has been doing this for a number of years now and is well experienced at handling himself in these situations and I also doubt anyone will really be able to come up with a question he has not been asked before and already has an answer for. PE is also known for a straightforward and low key style while also coming across as an intelligent down to earth engineer so people tend to relate well to him.

 

[wayne kemp]

Here's one he can't answer.
Why is it you have announced several times production will be starting and have a delay? Have you not did your homework from 2008?
Why not just tell the people the truth, you haven't got the money, backing or enough on the bandwagon and that you are working very hard to get to a point that a date that can be set in concrete.