A Variant On The P5 Build Story

[Smitty901]

There's no guarantees in life and even fewer in starting a company, but Elio Motors is certainly on the DoE's list of their kind of company which is why they are at the due diligence stage. They would have been shut out otherwise.

For shits an giggles I'll also point out, Aloca was in their due diligence phase at the end of May last year, they were the first to be approved for an ATVM loan this past March. Elio was in the due diligence stage last October.

Seriously, just put your finger across the middle of those two boxes. They are the same color.

"due diligence" Is a term most often used in industry to can contract Managers when stuff goes wrong and someone must hang. They have to pin it on someone so. MR.mrs MS xxxx you failed in due diligence as a free will contract manager you contact is canceled .
Keep sending letters that is the only hope we have of ELIO getting a loan. They will not get it based on it being the right thing to do.

 

[John Painter]

"due diligence" Is a term most often used in industry to can contract Managers when stuff goes wrong and someone must hang. They have to pin it on someone so. MR.mrs MS xxxx you failed in due diligence as a free will contract manager you contact is canceled .
Keep sending letters that is the only hope we have of ELIO getting a loan. They will not get it based on it being the right thing to do.

Not sure where you came up with your definition of due diligence, obviously you know in finance that is completely incorrect and it is indeed a very serious stage of comprehensive fact checking of a business. Personally I do write letters, probably makes little difference, but it feels good.

 

[Ekh]

There's no guarantees in life and even fewer in starting a company, but Elio Motors is certainly on the DoE's list of their kind of company which is why they are at the due diligence stage. They would have been shut out otherwise.

For shits an giggles I'll also point out, Aloca was in their due diligence phase at the end of May last year, they were the first to be approved for an ATVM loan this past March. Elio was in the due diligence stage last October.

Seriously, just put your finger across the middle of those two boxes. They are the same color.

They look the same to me finger or no finger. I'm inclined to reserve a special finger for OT silliness like this!

 

[Elio Amazed]

They look the same to me finger or no finger. I'm inclined to reserve a special finger for OT silliness like this!

Theres another little finger John!

 

[Smitty901]

Not sure where you came up with your definition of due diligence, obviously you know in finance that is completely incorrect and it is indeed a very serious stage of comprehensive fact checking of a business. Personally I do write letters, probably makes little difference, but it feels good.

From the real world.

 

[Ekh]

"due diligence" Is a term most often used in industry to can contract Managers when stuff goes wrong and someone must hang. They have to pin it on someone so. MR.mrs MS xxxx you failed in due diligence as a free will contract manager you contact is canceled .
Keep sending letters that is the only hope we have of ELIO getting a loan. They will not get it based on it being the right thing to do.

Hey, Smitty, while I think writing letters is a good idea, you're getting waaayyy off the beam here and in your previous post about Gov't programs being universal failures. Some are, some aren't.

Due diligence is not just a catch phrase to point fingers at failure. Due diligence is the level of care (and in some cases, specific steps) people are supposed to use in vetting financial transactions for soundness. Failure to exercise due diligence leads to problems, some of them catastrophic. Due diligence is something EVERY consumer should do when evaluating a purchase, especially major ones. If it's your own money, due diligence can save your butt. If it's other people's money, due diligence is essential to protect them AND YOU.

For example, suppose you are urging some investors to join you in buying Company A. You do your homework and discover there is a lake of used hydraulic oil on the property and 6-legged frogs are hopping around. You immediately tell your investors "the deal is very risky," talk to the folks running Company A, and find out if they're disclosing this problem or if they plan to do anything about it. That is due diligence.

Let's say you FAIL to discover the oil lake or FAIL to establish what is being done about it, so your investors are not fully informed, and proceed with the deal and then get burned when the company folds when it turns out the oil lake was actually the Love Canal, THEN you have failed do exercise due diligence and your ass is grass. As it should be.

Due diligence is what you do to prevent stupidity and greed from running the financial system unchecked. Failure to exercise it is sometimes criminal, and so it should be.

 

[satx]

From the real world.

"due diligence" is legal phrase that escaped from legal circumstances, as people love to borrow lingo, argot that makes them seem "professional" or "lawyerly".

https://en.wikipedia.org/wiki/Due_diligence

 

[AriLea]

"due diligence" is legal phrase that escaped from legal circumstances, as people love to borrow lingo, argot that makes them seem "professional" or "lawyerly". https://en.wikipedia.org/wiki/Due_diligence

So-so true most of our use of language had been sort-cutted from past uses of words. Add to that, we mix technical, general and common talk without warning. Add to that, it's easy to slide into various contexts, not dragging our listeners with us. And then the fact that we get impatient and jump to assumptions, well because we must just so we can reserve just a little time to rest.

This "due diligence" is a one of those over used terms everyone automatically expects the context is a given, but no, it can be specific or general as the speaker/writer desires. Most of us don't even know when we are shifting either.

IF you put a lot of detain in(like me) you get boring. If you don't, you might be misunderstood. Both can happen as well.

 

[Johnny Acree]

June is stacking up to be a very exciting month!

What a June!! and looks like July will be even better!