WilliamH
Elio Addict
There was a point where Paul specifically mentioned Stu Lichter as the one large investor.
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There was a point where Paul specifically mentioned Stu Lichter as the one large investor.
John Painter
Elio Addict
I missed that, but it would make sense.
Sidecar Bob
Elio Addict
Thank You Mr. Stu Lichter!
WilliamH
Elio Addict
Paul mentions Stu Lichter at the (about) 10:40 mark.
I'm guessing Mr. Lichter is the EM big money backer, but I doubt he has any actual $ invested, but rather only time in providing EM assistance to sell the Caddo Parrish Commission on the idea of EM providing 1500 manufacturing jobs by investing the $7.5 Million to acquire the GM plant and then contracting with Mr. Lichter's Firm to manage their newly acquired piece of real estate. Also, Mr. Lichter sold EM all the plant equipment for a quick $2 or $3 Million that EM is apparently still making payments on until they sell off the excess. I also believe EM is making a monthly lease payment to Mr. Lichter for their contracted space.
I think Mr. Lichter is working for Mr. Lichter and I hope it's one real estate deal that works out for him. Frankly, if Elio doesn't meet their contract obligations by the end of their current extended lease agreement, Mr Lichter will no doubt lease the space to someone else.
I think Mr. Lichter is working for Mr. Lichter and I hope it's one real estate deal that works out for him. Frankly, if Elio doesn't meet their contract obligations by the end of their current extended lease agreement, Mr Lichter will no doubt lease the space to someone else.
I do not believe you have your facts correct. It is my understanding that not only did Mr. Lichter invest cash in EM but his cash is pretty much what kept EM afloat after EM failed in Pontiac, MI. This cash allowed EM to reinvent themselves by completely redesigning the vehicle resulting in the P3 and P4 designs, bringing in IAV to replace McLaren/Linamar, and start fresh with a new site in Shreveport, LA. Mr Lichter also invested a further $7.5 million in EM after securing the Shreveport Plant site from Caddo Parrish.
Just to clarify there were two separate deals made with RACER Trust regarding the Shreveport site and neither one actually features IRG directly. Elio Motors is paying for the equipment directly to RACER Trust not IRG so there is no money being made by Mr Lichter on this sale. EM will own this equipment even if the plant site itself does not work out as long as they continue to pay RACER Trust for it. The actual plant property was purchased for $7.5 million by Caddo Parrish directly from RACER Trust then Caddo Parrish leased this site to IRG and Stu Lichter then invested the $7.5 million he was going to use to purchase the site directly into EM.
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Thanks for clarifying. Go Stu!
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Has "Master Herald" ever gotten the story straight?