And Now... The P5!

[Mike W]

I decided to read all 15 "pages" before entering my 2 cents worth, adjusted for inflation and usefulness/inherent value coming in just over .35 cents! Soo, if I read correctly not only is the Elgin dash hated, now we can add to the list, the new nose, exhaust port and gas filler cap location. Did I miss any? The financing and production vialbility are still a load of #%@^#&* according to some and a boat load of misinformation is still floating around and continues to be pumped out. Sounds pretty dismal... Except for the enthusiasm for the new tweaks of the design, the newly whetted desire to get one in our hands! Personally, I think the design looks great, especially the exhaust port! Concern about low speed collision with the nose seems a little silly, would the old nose have fared any better? Nope. Gas filler and exhaust port problems? Really? You think the design team slapped it on and said, cool! I'm nigh on positive that eventuality would have been looked into. Gas is inherently dangerous. We're supposed to keep our cell phones off to avoid sparking a towering inferno while filling up. How many do? How many have caught fire? So the risk is possibly on the same level as crashing in a commercial airliner. Production doubters? We'll see. I'm more than hopefull they're wrong and I will get my Ecar next year. Misinformation? Meh, nothing we can do to stop them. They will cause some discomforture, that's about all though. So, any step forward is better than stagnation! Keep moving forward!

 

[Ty]

I personally think that if Elio is in the process of hiring and training Shreveport personnel when the extension date runs out Racer and Caddo will fold and grant another short extension. Wouldn't make sense to do otherwise. On the otherhand if progress has stopped and nothing is going on at Elio then they would be justified to impose the penalty which I seem to recall is 7.5 million. Which I seem to recall is what Racer paid for the facility in tbe first place.

I don't understand one thing... Racer Trust is leasing the facility from Caddo Parish. How can Caddo Parish fine Elio for anything? Can they fine me if I don't hire people in Louisiana? According to the Caddo Parish politicians from their last meeting, Caddo has nothing to do with Elio.

 

[Coss]

I don't understand one thing... Racer Trust is leasing the facility from Caddo Parish. How can Caddo Parish fine Elio for anything? Can they fine me if I don't hire people in Louisiana? According to the Caddo Parish politicians from their last meeting, Caddo has nothing to do with Elio.

Wait, you think you can actually believe politicians? Wow........

 

[John Painter]

I personally think that if Elio is in the process of hiring and training Shreveport personnel when the extension date runs out Racer and Caddo will fold and grant another short extension. Wouldn't make sense to do otherwise. On the otherhand if progress has stopped and nothing is going on at Elio then they would be justified to impose the penalty which I seem to recall is 7.5 million. Which I seem to recall is what Racer paid for the facility in tbe first place.

Correct, though the actual penalty is $5000/per job not the lump sum of $7.5million. So, if Elio hired 1,000 employees they'd still be on the hook for $2.5million.

I know Elio had 36 months from the time they signed the agreement to make that happen, roughly this time next year, I have not actually seen that agreement with RACER, just the minutes of the discussion of it which is available on Caddo Parish's webpage. I'd have to say if Elio comes up short of the full 1,500 hires by the deadline they're on the hook for $7.5 or some fraction of it. Tick tock.

 

[John Painter]

I don't understand one thing... Racer Trust is leasing the facility from Caddo Parish. How can Caddo Parish fine Elio for anything? Can they fine me if I don't hire people in Louisiana? According to the Caddo Parish politicians from their last meeting, Caddo has nothing to do with Elio.

Caddo Parish has nothing to do with Elio Motors. They can't fine Elio Motors. The agreement is between RACER Trust and Elio Motors with Stu Lichter (IRG) holding the lease from Caddo Parish's "Industrial Development Board". By the way Lichter's cost will balloon from $25,000/mo to $60,000/mo if he can't lease the whole thing by his deadline.

 

[WilliamH]

Caddo Parish has nothing to do with Elio Motors. They can't fine Elio Motors. The agreement is between RACER Trust and Elio Motors with Stu Lichter (IRG) holding the lease from Caddo Parish's "Industrial Development Board". By the way Lichter's cost will balloon from $25,000/mo to $60,000/mo if he can't lease the whole thing by his deadline.

And once again we are discussing things as if they are graved in stone without seeing the fine print. All we have is the minutes of the folks on Caddo Parish who are busy trying to knife each other in the back for their own political advantage. (Oh wait, they are politicians) Back when that came out there was also discussion about whether extensions or modifications might happen.

 

[eddie66]

I've heard that term "penalties" used quite a bit around here. So, a little question/answer session about the penalties.

What are the penalties for? Will Elio be penalized for not hiring ALL the people? In other words, if they hire 1,499 out of 1,500 people, is there a penalty? Or are the penalties related to production? If Elio doesn't begin production by a certain date, is there a penalty? Define production. If he merely has to "start" production, what does that mean? If he has to hire X number of people by such and such a date, do those people have to actually start work before the date? What if he hires one person just prior to the date and pays them one day salary and then puts them on standby for a couple of months? What if he hires 1,500 people the day before the deadline, pays them all to come in for a safety briefing, and then puts them on unpaid standby till real production begins? Could Elio hire all those people, bring them to a short meeting where they install the wiper blade on one Elio, put them on unpaid leave and still meet the "hire 1,500 people and start production by XX date" requirement?

Lawyers would be involved before any penalty was assessed, I'd bet.

It was mentioned in this article and video. $5000 per job, or 7.5 million is mentioned.

http://www.ksla.com/story/28037171/...uld-face-fines-with-further-production-delays

 

[BaldGuy]

It was mentioned in this article and video. $5000 per job, or 7.5 million is mentioned.

http://www.ksla.com/story/28037171/...uld-face-fines-with-further-production-delays

I heard one dude who got Elio in there is actually working in the factory. (which isn't setting too good for some people). So perhaps if they don't meet the deadline they will be able to save 5000.

 

[eddie66]

I heard one dude who got Elio in there is actually working in the factory. (which isn't setting too good for some people). So perhaps if they don't meet the deadline they will be able to save 5000.

He is actually working for COMAU, one of Elio's partners helping sell off the surplus equipment left over.

 

[WilliamH]

I heard one dude who got Elio in there is actually working in the factory. (which isn't setting too good for some people). So perhaps if they don't meet the deadline they will be able to save 5000.

The guy it didn't set to well with has been indicted on 12 counts of fraud. ( I love politics. )