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Old 05-13-2020, 12:02 AM   #1951 (permalink)
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I'm letting my reservation deposit on an FUV ride, but their total production number is smaller than my reservation number. Maybe by the end of the year.

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Old 05-13-2020, 02:12 PM   #1952 (permalink)
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Now the question might be when is Paul Elio going to be arrested.
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Old 05-13-2020, 04:52 PM   #1953 (permalink)
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Quote:
Originally Posted by Xist View Post
The full article is here and without a paywall: https://www.abc15.com/news/let-joe-k...ased-automaker

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We asked Elio Motors -- with a decade of missed deadlines and nothing to show for their money, why not give it back to all investors who want it?

In an email, Elio did not answer that question.
They claimed they returned deposits when requested... but in the example they gave, the investor did not get his deposit back until the news channel helped him.
Deposits, maybe. But why on Earth would you return money to investors?

As Milo Minderbinder would put it, they have a share. They still own that share, and Paul Elio isn't stupid enough to buy a share in Elio at whatever price those investors did. Would you buy a share in Elio?
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Old 05-13-2020, 05:53 PM   #1954 (permalink)
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Quote:
Originally Posted by Fat Charlie View Post
As Milo Minderbinder would put it, they have a share. They still own that share, and Paul Elio isn't stupid enough to buy a share in Elio at whatever price those investors did.
As long as Elio is listed at any stock exchange, this risk would be more clearly stated. Otherwise, it would sound more like a scam.
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Old 05-13-2020, 05:55 PM   #1955 (permalink)
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Milo Minderbinder
I read that book sitting on my luggage at Bien_Hoa_Air_Base, on the way back.

It all rang true.
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Old 05-13-2020, 05:58 PM   #1956 (permalink)
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I think eilo and fenix motors shared a common theme.
They never intended to produce a working products and we're just being used as startup bait.
That's where someone starts a company by attaching a brand to some IP and never really planned to do anything besides start then sell the company.
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Old 05-13-2020, 06:19 PM   #1957 (permalink)
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Quote:
Originally Posted by Fat Charlie View Post
Deposits, maybe. But why on Earth would you return money to investors?

As Milo Minderbinder would put it, they have a share. They still own that share, and Paul Elio isn't stupid enough to buy a share in Elio at whatever price those investors did. Would you buy a share in Elio?
Elio has collected wages and pay from his charity for Elio “business” since conception.

The companies sole purpose was to give him a job where he does nothing that while his investors bankroll his car and boat payments.

This is similar to Brite Sun Capital forcing Shopko to take out loans to pay their $100m a year wages.

Shopko was financially solid but not when giving loan funded charity to the Brite Sun dbags who couldn’t successfully manage a lemonade stand. Brite Sun interfered with the proper operation of ShopkoS management at every turn, the board could have easily run the company without their moronic presence and stayed profitable. Despite Brite Sun leaching and hemorrhaging money constantly Shopko surprisingly lasted many years under their non-management, this just shows how strong the brand was at purchase considering how hard Brite Sun had to work to kill the business.

Historically behavior as illustrated above would result in being murdered or imprinsoned and at the very least you would be ruined and unable to ever participate in business ever again.

Given the attitude that ripping people off is the only legit way to make money, these situations should result in automatic execution.
As a country this type of behavior has to be firmly dealt with so it stops.
Unfortunate our heads are too squarely up our collective rears to be bothered with worrying about fraud.

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Old 05-13-2020, 06:35 PM   #1958 (permalink)
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Yeah, but Shopko didn't have to be run by Brite Sun or anyone else. There's no need to "go public" or sell the business. I don't know the story on Shopko, but I think it would take some genius management to have saved it considering the competition from Amazon, Walmart, and Target. The last thing I ever bought at Shopko was a Walkman in the 80's.
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Old 05-13-2020, 06:56 PM   #1959 (permalink)
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Quote:
Originally Posted by cRiPpLe_rOoStEr View Post
As long as Elio is listed at any stock exchange, this risk would be more clearly stated. Otherwise, it would sound more like a scam.
Elio opened at $0.32 per share today and closed at $0.31. And they still don't have anything to sell. Fat Charlie doesn't offer stock tips very often, but here's one: don't buy Elio, even at $0.09.
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Old 05-13-2020, 07:31 PM   #1960 (permalink)
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Never considered shorting before, but I think that might be a good strategy for Elio.

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