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Old 07-11-2009, 06:18 PM   #31 (permalink)
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I don't get it. He has to realize that at some point he will be exposed. I can't figure out what he might think is his exit strategy.

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Old 07-11-2009, 11:42 PM   #32 (permalink)
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He will bilk as many "investors" as much as he can, for as long as he can, then disappear without having produced so much as one engine. He will have many excuses along the way for the lack of engines or keeping any sort of schedule: changing business plans, the economy, the price of oil, the availability of E85, El Nino, Obama's stimulus, you freekin name it.

Kinda reminds me of the Moller Air Car. That silly sum***** has been at it for what- 40 years???- he has no intention of ever producing it. The Air Car is Moller's "career"; it is a way to pull in investor dollars and if it never leaves the development stage, so much the better.

Last edited by Frank Lee; 07-11-2009 at 11:47 PM..
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Old 07-11-2009, 11:46 PM   #33 (permalink)
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Originally Posted by Frank Lee View Post
He will bilk as many "investors" as much as he can, for as long as he can, then disappear without having produced so much as one engine. He will have many excuses along the way for the lack of engines or keeping any sort of schedule: changing business plans, the economy, the price of oil, the availability of E85, El Nino, Obama's stimulus, you freekin name it.
I guess that passes the Sherlock Holmes criterion, i.e., when you have eliminated the impossible, whatever remains, however unlikely, must be the truth.

It seems bizarre that he thinks he won't wind up in prison at worst, bankrupted by shareholder lawsuits at best.
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Old 07-11-2009, 11:47 PM   #34 (permalink)
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Old 07-12-2009, 09:19 AM   #35 (permalink)
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I don't get it. He has to realize that at some point he will be exposed. I can't figure out what he might think is his exit strategy.
That's what I don't get either.

The last time this car came up I think someone did the math and determined that there isn't even enough energy in the fuel to produce the numbers he is claiming, assuming he could somehow increase the efficiency of an ICE from it's usual ~25% to 100%. Are investors really giving this guy money? What the heck is really going on here?
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Old 07-12-2009, 11:15 AM   #36 (permalink)
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Fools and their money are soon parted. There's certainly no correlation between money and intelligence. This guy's a weasel, but I feel trouble having sympathy for idiots that blindly believe these outrageous claims when even uncommon sense should at least make them suspicious enough to look into it. Just an expensive lesson, providing they actually learn from the experience, which they probably won't. My only real issue is that it's pretty much guaranteed that this weasel isn't going to do anything good with the money—just buy himself some expensive junk. If he donated the money to charity or created his own, I'd say all power to him.
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Old 07-12-2009, 11:46 AM   #37 (permalink)
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Nope. I don't care if he does give it to a good charity. It's still bad money obtained by deception.
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Old 07-12-2009, 12:08 PM   #38 (permalink)
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So this is kinda how it works...

I had a Ducati bike that was in not-so-great condition.

I kept getting offers for $900, $1000, $500, etc.

I knew it was worth more than that, obviously.

To create better bids, I lied to those bidding. Not about the bike, about the other bidders.

"Will you take $500?"

"No... the bike's highest bid is $1600"

"Let me look it over again... Ok, I've got $1650 cash"

Nothing has changed about the bike, but the bidder's attitude (and thus, bid) changes.

The point is that you can interest people by talking up your figures. This guy is saying 312,000 orders... maybe that will get him the attention to get more "orders". Saying a really high MPG number obviously got him the attention he wanted, look at how many threads and replies are around because of this guy. He's a household name when it comes to people like us, and not even a good one!

So, basically, he could be inflating his numbers just for more market attention so that he can make a faster money share.

Then again, he could be telling the truth... 312,000 fools could really have bought into this thing.
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Old 07-12-2009, 01:30 PM   #39 (permalink)
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Quote:
Originally Posted by Christ View Post
So this is kinda how it works...

I had a Ducati bike that was in not-so-great condition.

I kept getting offers for $900, $1000, $500, etc.

I knew it was worth more than that, obviously.

To create better bids, I lied to those bidding. Not about the bike, about the other bidders.

"Will you take $500?"

"No... the bike's highest bid is $1600"

"Let me look it over again... Ok, I've got $1650 cash"

Nothing has changed about the bike, but the bidder's attitude (and thus, bid) changes.

The point is that you can interest people by talking up your figures. This guy is saying 312,000 orders... maybe that will get him the attention to get more "orders". Saying a really high MPG number obviously got him the attention he wanted, look at how many threads and replies are around because of this guy. He's a household name when it comes to people like us, and not even a good one!

So, basically, he could be inflating his numbers just for more market attention so that he can make a faster money share.

Then again, he could be telling the truth... 312,000 fools could really have bought into this thing.
I agree that that's possible, but the question is what he plans to do when he finally has to deliver something? Declare bankruptcy and hope for the best having tried to hide a bunch of money offshore? Leave the country?

It was easier for Madoff, all he had to do was deliver money, which he got from new investors. This enabled him to keep the scam going for years. Pelmear has to deliver engines. Is he really going to say "gee, I thought you guys understood that the mileage figures don't count the ethanol being burned"? His site explicitly denies that that's what he's doing.

He's not a total moron, as best I can tell he's a reasonably skilled speed shop operator. He must have a plan of some sort to get himself out of the mess he's creating.

Last edited by PA32R; 07-12-2009 at 02:07 PM.. Reason: Changed "fool" to "moron." I think he is a fool, but not without some smarts.
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Old 07-12-2009, 02:12 PM   #40 (permalink)
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Quote:
Originally Posted by PA32R View Post
I agree that that's possible, but the question is what he plans to do when he finally has to deliver something? Declare bankruptcy and hope for the best having tried to hide a bunch of money offshore? Leave the country?

It was easier for Madoff, all he had to do was deliver money, which he got from new investors. This enabled him to keep the scam going for years. Pelmear has to deliver engines. Is he really going to say "gee, I thought you guys understood that the mileage figures don't count the ethanol being burned"? His site explicitly denies that that's what he's doing.

He's not a total moron, as best I can tell he's a reasonably skilled speed shop operator. He must have a plan of some sort to get himself out of the mess he's creating.
This is basically how venture capital on the internet works. You get a lot of money to make a site and say "well figure out how to make money later, once we have spent all the investors money."

However, when the time comes they dont make money and the investors end up paying for the tech nerds to drink cafe lattes while they fiddle around with whatever since nothing of their own is on the line.

So, taking orders before being product construction, I am sure, will allow for money to live while production is "delayed" and "problems" are "reanalyzed," etc.

And no one will question out their because of misguided pride in american industry, when really the only industry employed is misdirection, boasting, and deception.

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