Okay, So What Is The Real Deal?

[LockMD]

I fear one more delay will sink this whole project. I was thinking their contract to hire employees ended at the close of 2014 but today I heard on a phone interview (I think Ediie66 posted) that contract officially ended on February 1st 2015......

So, does that mean if they don't hire 1,500 employees by August 1st 2015 they'll have to pay the penalty of 7.5 Million? If so, I'm not feeling very fuzzy about actually ever getting to own an Elio. I mean if they have to hire employees by August and they're projecting mid 2016 for start of production, something don't add up ???

Maybe Goofyone could enlighten me (us) ???

 

[John Painter]

Well you can take a look at the Caddo Parish materials here http://www.caddo.org/index.aspx?NID=426 (look at the minutes, but the other materials are interesting too) essentially Elio Motors was given 36 months to have 1,500 created. That meeting with Caddo Parish Commissioners was on August 2, 2013. I'm not sure what "don't add up" but yes, Elio Motors is under the gun, I don't think it's a mystery, to get funding in line and get producing.

From what I can see, they are behaving like a responsible company getting their ducks in a row to get the company producing vehicles.

That's my 2cents.

 

[LockMD]

I'm not sure what "don't add up"

Don't get me wrong, I'm not a Wayne (nay sayer) LOL

What doesn't add up is, if my original post is correct and they HAVE to hire employees by August 1st 2015, then production should start WAY before 2016, yes?

See my thought process now?

 

[eddie66]

Don't get me wrong, I'm not a Wayne (nay sayer) LOL

What doesn't add up is, if my original post is correct and they HAVE to hire employees by August 1st 2015, then production should start WAY before 2016, yes?

See my thought process now?

Lock,
In this article in the times, they do mention that Elio was given a six month extension on the jobs too.
I think they are between the same rock and a hard place that Elio is since they were looking forward to the jobs, after investing tax payers dollars on the purchase of the plant.

http://www.shreveporttimes.com/stor.../led-risk-great-start-ups-like-elio/23596563/

 

[carzes]

I fear one more delay will sink this whole project. I was thinking their contract to hire employees ended at the close of 2014 but today I heard on a phone interview (I think Ediie66 posted) that contract officially ended on February 1st 2015......

So, does that mean if they don't hire 1,500 employees by August 1st 2015 they'll have to pay the penalty of 7.5 Million? If so, I'm not feeling very fuzzy about actually ever getting to own an Elio. I mean if they have to hire employees by August and they're projecting mid 2016 for start of production, something don't add up ???

Maybe Goofyone could enlighten me (us) ???

I'm not out to be a downer or 'troll' the place up or anything, but I'm afraid THIS delay might be the coffin nail ultimately. I was also under the initial impression that the extension was for six months, but if it's 18 all the better. Apparently the rumors of another major party being interested in Shreveport were just that else they'd be drafting an eviction notice instead of an extension. So there are some things going well.
That having been said, the auto industry is entirely driven by sales and marketing, and image is everything, spin is the public's reality, and massaging the press is the CEO's job-one. So I would be more concerned if everything DID make sense to me, cause that would indicate a major malfunction in my B.S. detector. If you can't find bull-flop in a press release that's probably 'cause that's what it's written on. But that's the job of PR people.

 

[John Painter]

Don't get me wrong, I'm not a Wayne (nay sayer) LOL

What doesn't add up is, if my original post is correct and they HAVE to hire employees by August 1st 2015, then production should start WAY before 2016, yes?

See my thought process now?

Read through the documents to understand the time line agreed to by all the parties, and remedies (RACER Trust is invoking some) without internet BS.

 

[JEBar]

Don't get me wrong, I'm not a Wayne (nay sayer) LOL

What doesn't add up is, if my original post is correct and they HAVE to hire employees by August 1st 2015, then production should start WAY before 2016, yes?

See my thought process now?

it has been reported that EM has been granted an extension until mid 2016

 

[Floyd]

I fear one more delay will sink this whole project. I was thinking their contract to hire employees ended at the close of 2014 but today I heard on a phone interview (I think Ediie66 posted) that contract officially ended on February 1st 2015......

So, does that mean if they don't hire 1,500 employees by August 1st 2015 they'll have to pay the penalty of 7.5 Million? If so, I'm not feeling very fuzzy about actually ever getting to own an Elio. I mean if they have to hire employees by August and they're projecting mid 2016 for start of production, something don't add up ???

Maybe Goofyone could enlighten me (us) ???

This has all the hallmarks of a classic scam.

 

[John Painter]

This has all the hallmarks of a classic scam.

Oh please. What is the "classic scam"?

 

[Rickb]

Oh please. What is the "classic scam"?

Oh nooooooooooooo! you had to ask the question. LOL