Was Elio Motors a scam from the kickoff , or was a naive inventor snookered into having his dream used equally pretext for scams of others? Or does it actually brand a divergence for the many parties who get got collectively lost millions inwards this deal? Where did all the coin larn , anyway?
Complex fiscal transactions are hard to figure out , which makes them miserable choices for minor investors. And the Elio deal has in addition to then many layers-of-the-onion to pare dorsum , that it is hard to figure out precisely what happened. And where did all the coin go? What did Elio in addition to his cohorts actually innovation on doing alongside all this? Were they starry-eyed visionaries or crafty crooks who paid themselves millions patch perpetrating a huge fraud? It is hard to tell , equally you lot get got to dig for the facts , in addition to when you lot start excavation , you hitting stone existent fast.
It would seem from what I get got been able to divine in addition to then far that a existent estate investor may goal upwardly owning the Shreveport plant - i of GM's latest high-tech facilities that used to brand Hummers , along alongside 600 acres of land. According to some , the screwy bargain prepare yesteryear the RACER trust in addition to the local Parish hands over the ownership of the belongings , i time the developer has paid close $7.5 i 1000 one thousand inwards lease payments. Was this transaction the intent of the whole system from the get-go? We volition get got to aspect in addition to see.
But what close Paul Elio in addition to others on the board or employed yesteryear Elio Motors? Did they brand out inwards this bargain equally well? Again , you lot tin dig , but it gets in addition to then complicated in addition to hard to follow , that you lot lose rail of the cash actually fast. Companies that are related to companies , diverse agreements in addition to contracts nosotros don't get got access to. SEC filings that - similar most SEC filings - tin survive pretty opaque to the amateur investor. It would seem , based on my express enquiry , that most of the people who are principals inwards this bargain volition walk away with to a greater extent than coin than they started with. TThe fantasy of a "revolutionary car" that volition alter the the world in addition to seat the "big 3" out of concern has been going on for a long fourth dimension - a fantasy that exclusively people without Engineering degrees believe in. Many people fifty-fifty today desire to brand a folk hero out of Preston Tucker , who appears to at best get got been snookered into having his dream automobile used equally a front end for stock fraud - or at worst was inwards on the con himself. Make no error close it , the Tucker automobile was hardly revolutionary in addition to was inwards fact , a slice of crap. Sure a turning centre headlight mightiness seem "radical" but the residue of the automobile was nil out of the ordinary , other than it was staggeringly expensive to build. And equally it turns out , he never would get got been able to create it or compete alongside the major automakers. There was no "conspiracy" against him , but a miserable pattern in addition to a miserable concern plan. "But Bob , they made a painting close him!" They also made a painting close the windshield-wiper guy in addition to he was crazy equally a loon , too.
But mayhap that volition survive the side yesteryear side shoe to drib - that the argue why Elio was forced out of concern was a "conspiracy of the big-three automakers" who but couldn't stand upwardly the competition! And I am certain correct straightaway , individual somewhere already believes this.
There are idiots. Look some you. Some readers inquire me how to brand a ton of coin inwards a curt catamenia of time. My suggestion: Find raging truthful believers in addition to salve them of their money. Myself , I don't get got the tum for it.
UPDATE: The to a greater extent than I intend close this Elio affair , the to a greater extent than questions I have. Making cars is a cut-throat marginal business. Even Mary Barra , my old classmate at GMI made "only" close http://www.prnewswire.com/news-releases/former-coo-of-elio-motors-launches-car-subscription-service-yoyo-300280891.html
So , the COO of Elio left at the goal of May 2016 (still on the Board though) to start YoYo.
It would seem from what I get got been able to divine in addition to then far that a existent estate investor may goal upwardly owning the Shreveport plant - i of GM's latest high-tech facilities that used to brand Hummers , along alongside 600 acres of land. According to some , the screwy bargain prepare yesteryear the RACER trust in addition to the local Parish hands over the ownership of the belongings , i time the developer has paid close $7.5 i 1000 one thousand inwards lease payments. Was this transaction the intent of the whole system from the get-go? We volition get got to aspect in addition to see.
But what close Paul Elio in addition to others on the board or employed yesteryear Elio Motors? Did they brand out inwards this bargain equally well? Again , you lot tin dig , but it gets in addition to then complicated in addition to hard to follow , that you lot lose rail of the cash actually fast. Companies that are related to companies , diverse agreements in addition to contracts nosotros don't get got access to. SEC filings that - similar most SEC filings - tin survive pretty opaque to the amateur investor. It would seem , based on my express enquiry , that most of the people who are principals inwards this bargain volition walk away with to a greater extent than coin than they started with. TThe fantasy of a "revolutionary car" that volition alter the the world in addition to seat the "big 3" out of concern has been going on for a long fourth dimension - a fantasy that exclusively people without Engineering degrees believe in. Many people fifty-fifty today desire to brand a folk hero out of Preston Tucker , who appears to at best get got been snookered into having his dream automobile used equally a front end for stock fraud - or at worst was inwards on the con himself. Make no error close it , the Tucker automobile was hardly revolutionary in addition to was inwards fact , a slice of crap. Sure a turning centre headlight mightiness seem "radical" but the residue of the automobile was nil out of the ordinary , other than it was staggeringly expensive to build. And equally it turns out , he never would get got been able to create it or compete alongside the major automakers. There was no "conspiracy" against him , but a miserable pattern in addition to a miserable concern plan. "But Bob , they made a painting close him!" They also made a painting close the windshield-wiper guy in addition to he was crazy equally a loon , too.
But mayhap that volition survive the side yesteryear side shoe to drib - that the argue why Elio was forced out of concern was a "conspiracy of the big-three automakers" who but couldn't stand upwardly the competition! And I am certain correct straightaway , individual somewhere already believes this.
There are idiots. Look some you. Some readers inquire me how to brand a ton of coin inwards a curt catamenia of time. My suggestion: Find raging truthful believers in addition to salve them of their money. Myself , I don't get got the tum for it.
UPDATE: The to a greater extent than I intend close this Elio affair , the to a greater extent than questions I have. Making cars is a cut-throat marginal business. Even Mary Barra , my old classmate at GMI made "only" close http://www.prnewswire.com/news-releases/former-coo-of-elio-motors-launches-car-subscription-service-yoyo-300280891.html
So , the COO of Elio left at the goal of May 2016 (still on the Board though) to start YoYo.
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