Friday Blog Is Out

[dbacksfan81]

Accounting for the $50:
Venti Coffee product from Starbucks: $8
Fuel to get to gas station for trip from Scottsdale to Goodyear and back for a lottery ticket (I doubt Paul drives his own product because someone in Phoenix would get a pic of it by now) - $20
Lunch at local restaurant (Since it’s considered income, he needs a lunch expenditure for taxes: $30
Targeted Winnings from scratch offs: $10
Targeted Total: $2
Mileage, coffee and restaurant all written off as business expenses.

No, he has a $600,000.00 house in central Phoenix that he bought January of 2017 and pays close to $6000.00/year in property taxes.

 

[RSchneider]

No, he has a $600,000.00 house in central Phoenix that he bought January of 2017 and pays close to $6000.00/year in property taxes.

I have a $250K house and pay $4500 in taxes. Sounds like I need to move to Phoenix. Now I do use a percentage of my house for business and that cuts down on the total tax bill. I bet Paul is like me, use your house as an office and thus pay less in taxes. It’s a smart move.

 

[dbacksfan81]

I have a $250K house and pay $4500 in taxes. Sounds like I need to move to Phoenix. Now I do use a percentage of my house for business and that cuts down on the total tax bill. I bet Paul is like me, use your house as an office and thus pay less in taxes. It’s a smart move.

Sure, just list the four or five companies that you are owner/ceo of, operating companies or not, and the let the BoD like Hari Iyer and others list it as their address as well, and you can get all kinds of breaks. I was an investor in late '16 early '17 until I started digging into the info on the business filings for incorporation in Arizona and Michigan and realized that it seemed like several shell companies that got paid for work that were directly owned by Paul or Paul and Hari.

 

[Made in USA]

A $600,000 house? I wonder if this was bought as a way to protect his assets in case of bankruptcy? Just wondering.

 

[RSchneider]

Before everyone goes down this path, let's just look at the facts:
October 2010 (a year after Elio Motors was formed) this happened (according to Paul Elio): https://www.autonews.com/article/20...uck-and-patience-keep-paul-elio-s-quest-alive

On the Elio Website, Paul is a divorced guy with three boys:
https://www.eliomotors.com/the-glob...muting-in-his-minivan-so-he-created-the-elio/

Elio Engineering official Department of Corporations in Arizona:
https://ecorp.azcc.gov/BusinessSearch/BusinessInfo?entityNumber=08677356

Elio Motors official Department of Corporations in Arizona:
https://ecorp.azcc.gov/BusinessSearch/BusinessInfo?entityNumber=15610344

ESG HQ, Elio Motors HQ and Paul Elio's House:
https://www.zillow.com/homedetails/102-W-El-Caminito-Dr-Phoenix-AZ-85021/7794903_zpid/

As you can see, The house was last sold in 2004 and for $518K. Current value $562K. According to Maricopa County in AZ, worth $475K:
https://mcassessor.maricopa.gov/mcs.php?q=160-58-040

More public information:
https://maps.mcassessor.maricopa.gov/?esearch=16058040&slayer=0&exprnum=0

The house has been transferred to Paul Elio Trust:
https://recorder.maricopa.gov/UnOfficialDocs/pdf/20170018837.pdf

So, this is a guy that was nearly bankrupt and supporting three boys. He does need money to support this as i find it hard to believe that we'd rather have him than the boys be in a homeless shelter. Yes, he does live in a house that costs alot of money but it was bought in 2004 and way before you even knew who he was, so for most of you, it was a 10 year old purchase. It doesn't matter what he does personally. Honestly, I am not seeing any "Living like a King" with the millions that he supposedly took. It's a 2500 sqft house in an area where he bought when the value was really high. Honestly, from a real estate standpoint, a bad purchase. I can tell you my house was worth double what it is now and that was before the real estate bubble. Thus the reasons why when many bought around me, they went bankrupt and lost the home. Paul was smart, he figured out a way to keep it even after a divorce and nearly going bankrupt by starting Elio Motors. There's something to be said for that. He has three boys and I can see the reason for the trust. He needs to take care of them and as we all have found out, he leaves his family out of the business. So, he's just making sure if something terrible happens to himself, his boys are protected. Sign of a great dad but smart businessman.

He's done a tone of things wrong but personally, going after him is not the right thing to do. It will get you nowhere. Let's just deal with Paul Elio, CEO of Elio Motors. Not Paul Elio the loving and responsible dad. We only go after dad if we know him personally and not a single person here does.

 

[84mpg]

Amen.

 

[Maurtis]

On the Elio Website, Paul is a divorced guy with three boys:
https://www.eliomotors.com/the-glob...muting-in-his-minivan-so-he-created-the-elio/

I guess that makes for a better sounding story than "I am a divorced dad with three boys who felt silly commuting in a minivan when the kids were with their mom, so I bought a Prius. End of story."

 

[Elio Amazed]

No, he has a $600,000.00 house in central Phoenix that he bought January of 2017 and pays close to $6000.00/year in property taxes.

It sure doesn't look like a $600,000 house. If it were here, it'd be lucky to be a $60,000 house. But, sometimes it all depends on the neighborhood and how much you want to spend on prestige vs value. I took a look at it via google maps a few years ago out of curiosity. I believe Paul had Google take those real-life views of it off of the internet quite some time ago.

 

[RSchneider]

I guess that makes for a better sounding story than "I am a divorced dad with three boys who felt silly commuting in a minivan when the kids were with their mom, so I bought a Prius. End of story."

We could look at it this way. If Elon Musk announced tomorrow that he will invest $500M into getting the Elio to production, then we could go after him because he runs a money losing business, has been divorced twice and has been on the verge of bankruptcy. With that being the case, we would all rip into Elon and refuse to take his money? If that's the case, then forget about any public investment because most of them have something that will not be politically correct and thus not good enough for the morals of what Elio motors should be.

We are not all perfect but what we need to do is just look at the business. I've been super critical of that and been punished here because of not being 100% supportive. On the other hand, the mods and owner of this site would rather see critical thinking as opposed to taking cheap shots at someone. Even Bill Gates got thrown in the slammer and created horrible versions of Windows. Does that make him a bad guy or just a realistic guy. Steve jobs is lucky, he's dead and doesn't have to put up with the pot shots. Warren Buffett is so old most youngsters have no idea who he is.

Paul the CEO and the rest of the board are perfectly fine for criticism due to that's all we care about in the end. They can;t do the job, you never have an Elio. If all of them had been divorced 5 times and lived in $5M mansions, would you care if you got your Elio on time 5 years ago?

 

[Elio Amazed]

We could look at it this way. If Elon Musk announced tomorrow that he will invest $500M into getting the Elio to production, then we could go after him because he runs a money losing business, has been divorced twice and has been on the verge of bankruptcy. With that being the case, we would all rip into Elon and refuse to take his money? If that's the case, then forget about any public investment because most of them have something that will not be politically correct and thus not good enough for the morals of what Elio motors should be.

We are not all perfect but what we need to do is just look at the business. I've been super critical of that and been punished here because of not being 100% supportive. On the other hand, the mods and owner of this site would rather see critical thinking as opposed to taking cheap shots at someone. Even Bill Gates got thrown in the slammer and created horrible versions of Windows. Does that make him a bad guy or just a realistic guy. Steve jobs is lucky, he's dead and doesn't have to put up with the pot shots. Warren Buffett is so old most youngsters have no idea who he is.

Paul the CEO and the rest of the board are perfectly fine for criticism due to that's all we care about in the end. They can;t do the job, you never have an Elio. If all of them had been divorced 5 times and lived in $5M mansions, would you care if you got your Elio on time 5 years ago?

I'm just crying crocodile tears here. Give it a break.