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pistonboy

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If Elio Motors is so near death, why are they bothering to send out T-shirts and bumper stickers?

I hope the fact that EM is sending these out (when people have forgotten about them) means something positive.

I hope: out of desperation, EM has accepted some drastic offer it previously rejected, and is waiting until after the court hearing to finalize and announce it.

My deposits cost money. Hope is free.
 

Watashiwah

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I hope you are right, but I cannot see how even a $500,000 adverse judgement affects anything other than internal Shreveport politics.

$ 500,000 is barely over one percent of the reported, and roughly estimated, $400 million that Elio needs. Even if EM’s feet are ‘held to the fire,’ and this judgment is upheld everyone knows there is no money in the coffers; the debt will be suspended, and if later Elio does start building in Shreveport, local political clamor will wipe it off the books: it is just grandstanding by LA to look like they are pursuing Elio for something since they think Caddo Parish was taken advantage of by Stu.

Getting VC money has nothing to do with this pending decision. Not getting VC money has everything to do with poor decision making, misspending earlier investors’ money, appearing to line principals’ pockets, a vague accounting of money spent, a lack of transparency, and a product that has no patentable or unique qualities and is readily reengineered (all of EM fits on a thumb drive, except for 3 to 5 obsolete pseudo-prototypes). Not to mention, increasing bad will, mostly centered around Paul and Stu’s absence and stonewalling.

If Paul is going to salvage this he needs to do it before the SEC pulls the plug.
 

Elio Amazed

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Even if EM’s feet are ‘held to the fire,’ and this judgment is upheld everyone knows there is no money in the coffers; the debt will be suspended, and if later Elio does start building in Shreveport, local political clamor will wipe it off the books:
I wouldn't bet the farm on it.
The state would have every right at that point to petition to force EM into bankruptcy.
 
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Samalross

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I hope you are right, but I cannot see how even a $500,000 adverse judgement affects anything other than internal Shreveport politics.

$ 500,000 is barely over one percent of the reported, and roughly estimated, $400 million that Elio needs. Even if EM’s feet are ‘held to the fire,’ and this judgment is upheld everyone knows there is no money in the coffers; the debt will be suspended, and if later Elio does start building in Shreveport, local political clamor will wipe it off the books: it is just grandstanding by LA to look like they are pursuing Elio for something since they think Caddo Parish was taken advantage of by Stu.

Getting VC money has nothing to do with this pending decision. Not getting VC money has everything to do with poor decision making, misspending earlier investors’ money, appearing to line principals’ pockets, a vague accounting of money spent, a lack of transparency, and a product that has no patentable or unique qualities and is readily reengineered (all of EM fits on a thumb drive, except for 3 to 5 obsolete pseudo-prototypes). Not to mention, increasing bad will, mostly centered around Paul and Stu’s absence and stonewalling.

If Paul is going to salvage this he needs to do it before the SEC pulls the plug.
I hope you are right, but I cannot see how even a $500,000 adverse judgement affects anything other than internal Shreveport politics.

$ 500,000 is barely over one percent of the reported, and roughly estimated, $400 million that Elio needs. Even if EM’s feet are ‘held to the fire,’ and this judgment is upheld everyone knows there is no money in the coffers; the debt will be suspended, and if later Elio does start building in Shreveport, local political clamor will wipe it off the books: it is just grandstanding by LA to look like they are pursuing Elio for something since they think Caddo Parish was taken advantage of by Stu.

Getting VC money has nothing to do with this pending decision. Not getting VC money has everything to do with poor decision making, misspending earlier investors’ money, appearing to line principals’ pockets, a vague accounting of money spent, a lack of transparency, and a product that has no patentable or unique qualities and is readily reengineered (all of EM fits on a thumb drive, except for 3 to 5 obsolete pseudo-prototypes). Not to mention, increasing bad will, mostly centered around Paul and Stu’s absence and stonewalling.

If Paul is going to salvage this he needs to do it before the SEC pulls the plug.
I cant understand that on August 4th they were trying for 100 million financing and a Nasdaq listing. They disqualified the company from Nasdaq and will be going to pink sheets by not putting out a report for Sept 30. What happened is those seven weeks?
 

Watashiwah

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I wouldn't bet the farm on it.
The state would have every right at that point to petition to force EM into bankruptcy.

Maybe you’re right, but there must be some smart people in Caddo Parish and/or in Louisiana somewhere that want to distance themselves completely from being associated with Elio Motors’ demise. If it’s going to happen anyhow, why would anyone in LA hammer in (what some believe) the final coffin nail? And even then it’s a fine that will likely never be paid off.

The relatively small fraction of willing and employable Shreveportians would pillory their Commissioners for putting themselves into the finger pointing blame game that is sure to happen.
 

Elio Amazed

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Maybe you’re right, but there must be some smart people in Caddo Parish and/or in Louisiana somewhere that want to distance themselves completely from being associated with Elio Motors’ demise. If it’s going to happen anyhow, why would anyone in LA hammer in (what some believe) the final coffin nail? And even then it’s a fine that will likely never be paid off.

The relatively small fraction of willing and employable Shreveportians would pillory their Commissioners for putting themselves into the finger pointing blame game that is sure to happen.

To get very serious here...

I think you're reading the population of Shreveport's current state of mind 180 degrees wrong and you're projecting.

At this point I think the mindset of the people of Shreveport is that they would support anyone willing to pound that nail in.
I believe that the convoluted thinking in the general population, inflamed by the local media, is one of wanting "justice"...
Of any sort rather than giving EM any more rope and any more of their time. And I think the politicians know it well.
How many times have you heard what basically is, "Somethings got to be done" coming out of Shreveport?

That very well could be the main reason the committee picked EM to be a scapegoat in the first place.
 

RSchneider

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2018 is election year. If you notice, every 2 years the "officials" get all upset and want something done. When this passes, you won't hear a peep out of them until the end of 2019 with some other day of reckoning that will take place in 2020. The people of Shreveport and Louisiana have moved on and I bet most of them have actually forgot about Elio Motors. Anything automotive related from the old GM days has moved on. It's coming up on 6 years since the plant closed. Honestly, they should have leveled the facility like Stu wanted to do with it originally.
 

4matic

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To get very serious here...

I think you're reading the population of Shreveport's current state of mind 180 degrees wrong and you're projecting.

At this point I think the mindset of the people of Shreveport is that they would support anyone willing to pound that nail in.
I believe that the convoluted thinking in the general population, inflamed by the local media, is one of wanting "justice"...
Of any sort rather than giving EM any more rope and any more of their time. And I think the politicians know it well.
How many times have you heard what basically is, "Somethings got to be done" coming out of Shreveport?

That very well could be the main reason the committee picked EM to be a scapegoat in the first place

Very well stated...

There is no “lost love” for Elio Motors in Shreveport...
 

Watashiwah

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EA, RS, and 4m,

I agree with everything you said about the anti Elio sentiment, but I still think there are enough synapses in a few brains even there that want Elio to fail 100 percent “on its own.” There will be a lot of blame, finger pointing, and litigation surrounding why Elio imploded and no one in LA is going to want to defend the $500,000 fine that Paul might say finally put EM out of business: Elio Motors will never admit their own ‘missteps.’ LA is even smart enough to know they will never see that money, anyhow: To your point, why would LA want to give Elio yet another external reason or excuse?
 
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