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This Is Promising

Coss

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LA State Rep. Cedric Glover expressed his doubts in a severe manner the day before yesterday: “You have had eight years to give birth to this baby,” Glover told Elio. “Your idea, your concept, your vision should not come at the expense of a multi-billion dollar facility that could cost this city thousands of jobs.” http://www.shreveporttimes.com/stor...ives-demand-answers-gm-plant-delays/92728208/
Let's have the ATVM loan, shall we?
I watched that video, and a new aspect hit me, what the answer is I haven't figured out yet.
So Caddo Parrish has this big empty plant; Racers Trust comes along and promises to develop it into something, or the other option is to tear it down.
Let's set EM and the rest of the building to the side for a moment.
So what does Caddo get if they tear it down? They don't really need the space, there is a lot of open space around the plant that other businesses could be developing, but their not.
So why are they putting the pressure on Elio? Well in the video, they open with saying "Elio is just a pawn in this situation".

Why do they want to put this much pressure on a pawn in a series of promises that they made to Elio's Landlord?
It's not like Elio being there is keeping other manufacturers out; they already admitted that the other deals they had all fell through.
So they chase EM out, and then what? Tear down a building that no one else wants? What did they have planned for that spot?

Like I started out, I have no answers for these questions at this point, but what is Caddo Parrish not telling us?
 

Rickb

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LA State Rep. Cedric Glover expressed his doubts in a severe manner the day before yesterday: “You have had eight years to give birth to this baby,” Glover told Elio. “Your idea, your concept, your vision should not come at the expense of a multi-billion dollar facility that could cost this city thousands of jobs.” http://www.shreveporttimes.com/stor...ives-demand-answers-gm-plant-delays/92728208/

Let's have the ATVM loan, shall we?
The DoE ATVM Loan is not a giveaway program. There has to be indication that a successful recipient has the ability to repay the loan. EM has to meet the ATVM Loan requirements and the DoE is patiently waiting for that to happen. Better than flat out denying it.

EM needs to build and test an Elio to validate their claims on the ATVM loan application. EM stated in an update some time back that they have a list of requirements to meet before the ATVM could be approved. EM may need a private venture capital boost to get the E's Built and tested.
 

Chris F

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Its all politics. Note that the hearing was 2 weeks before the election. Not sure who is up for re-election, but some politicians are using the delays to embarrass the ones who supported the decision. As Coss noted, its a big empty building that doesn't have a line of people waiting to rent it. I'm sure that when the GM plant closed, it left a big ugly whole in the region's entire economy, and now some pols are using that misery to their own political advantage.
 

Ekh

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The DoE ATVM Loan is not a giveaway program. There has to be indication that a successful recipient has the ability to repay the loan. EM has to meet the ATVM Loan requirements and the DoE is patiently waiting for that to happen. Better than flat out denying it.

EM needs to build and test an Elio to validate their claims on the ATVM loan application. EM stated in an update some time back that they have a list of requirements to meet before the ATVM could be approved. EM may need a private venture capital boost to get the E's Built and tested.
You have nailed it.
 

outsydthebox

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Its all politics. Note that the hearing was 2 weeks before the election. Not sure who is up for re-election, but some politicians are using the delays to embarrass the ones who supported the decision. As Coss noted, its a big empty building that doesn't have a line of people waiting to rent it. I'm sure that when the GM plant closed, it left a big ugly whole in the region's entire economy, and now some pols are using that misery to their own political advantage.

I believe Chris F nailed it. Political GRAND STANDING.
 

Coss

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I believe Chris F nailed it. Political GRAND STANDING.
I agree; someone needed a sacrifice, so they looked for the lowest hanging fruit they could find.
And earlier someone made mention the there was a lawsuit about some equipment that was moved and sold from the plant that wasn't supposed to be; well EM was mentioned in the same breath. Come to find out:
"However, RACER Trust filed a lawsuit last year against SBP/IRG after Elio and those two entities began scrapping movable equipment from the plant to sell.
RACER says it had no objection to Elio doing that as long as the company could no longer use it, but RACER says the equipment was covered by their security interest and RACER is therefore entitled to the proceeds.


Elio, IDB and Caddo Parish are not parties to that suit."

I think this is where someone got the bright idea to highlight EM; easy target.
EM already has enough to stress over, throwing this hearing and originally the lawsuit has really gotten them to "pucker up" pretty tight.

And all of a sudden we have new and seldom heard from members out stirring the pot on supporters of EM and the Elio.
So EM has the pressure turned up on all burners.

So here's the question I don't have an answer to again; Why?
 

Ty

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It's the elephant in the room. Elio is still trying to get their 65,000 reservations and X number of commitments before approaching DOE with "proof of demand". I look for that by year end, unless something drastic happens first. But the clock is definitely running -- EM is obviously short of funds (again) or they'd have the rest of the E-cars built and in testing, and the remainder under construction. Production start is now 4th quarter 2017 (as per their 7/29 filing with the SEC), so don't hold your breath til your Elio's in the driveway.

Of course, should the money gates open, that could speed up. Without the ATVM loan, it's going to take a lot longer.
Why assume Elio doesn't have the funds to build the 23 E models? I feel that is irresponsible conjecture. Elio started on the E models and then made the decision to use steel body panels. It would take some time to build the dies. How long? I surely don't know but it would take at least some time. Now, could Elio use a couple of E series with SMC panels? Sure. And, they have. However, does it make sense to do fast track building SMC bodied E series if the tests would have to be accomplished when they built using the right body panels? Perhaps this waiting period is merely the time it is taking for the stamps to be done. Once done, it won't take long at all to stamp out 20 or 100 bodies. You COULD see a sudden release of the rest of the E series followed rapidly by the 100. To assume without all the facts that Elio is out of money is misleading.
 

Coss

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Why assume Elio doesn't have the funds to build the 23 E models? I feel that is irresponsible conjecture. Elio started on the E models and then made the decision to use steel body panels. It would take some time to build the dies. How long? I surely don't know but it would take at least some time. Now, could Elio use a couple of E series with SMC panels? Sure. And, they have. However, does it make sense to do fast track building SMC bodied E series if the tests would have to be accomplished when they built using the right body panels? Perhaps this waiting period is merely the time it is taking for the stamps to be done. Once done, it won't take long at all to stamp out 20 or 100 bodies. You COULD see a sudden release of the rest of the E series followed rapidly by the 100. To assume without all the facts that Elio is out of money is misleading.
Bingo!! Key words "To assume without all the facts that Elio is out of money is misleading."

This is what has the trolls sniffing the air again.
 
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