IS IT TRUE May 7, 2012 Part 2

IS IT TRUE that during the discussion at the Evansville City Council back in late March that Earthcare Energy officials emphatically stated and included in writing in their “investment summary” that final testing of the Langson device would be completed by March 31, 2012?…that the company both stated and written that would be doing this testing was Concurrent Technologies Corporation that is a legitimate company that has a field office at the Westgate Park of the Crane Naval Weapons Center?…that these test results have never been made available to the media and have not been posted on the Earthcare Energy website either?…that we wonder if the City of Evansville had the good sense to make the release of any dollars to Earthcare contingent on them showing proof that the Langson device was tested by a legitimate 3rd party business that is actually in the business of testing for a living?…that we suspect that the haste with which this deal was done didn’t allow for that important paragraph to have been written but IT SHOULD HAVE BEEN?…that once again rushing a $4.8 Million deal has painted the City of Evansville into a corner?

IS IT TRUE that on page 9 of the loan agreement under section (g) there is some language that may give the City of Evansville an out on the basis of newly introduced material information that could impact the borrower’s ability to repay the loan?…that then again it may not since the borrower had no assets at the time that the loan agreement was written?…that the loan agreement also has absolutely no reference to any Power Purchase Agreement (PPA) with Vectren that has been widely advertised to be providing collateral for the loan?…that a word search of the loan agreement does not reveal the name of Vectren mentioned anywhere at all?…that it seems that as far as the paperwork is concerned that all Vectren is doing is signing an agreement that will allow them to triple their money on any power produced by Earthcare Energy and keep some of their coal in the ground in the process?…that it seems as though Vectren is in a no lose situation with the PPA?

IS IT TRUE that City Attorney Ted Ziemer is on public record as stating that the Earthcare Energy loan can be closed this week?…that in private the Mayor Winnecke has stated that the requirements to close the loan are several weeks away from being completed?…that any way you analyze those two statements someone comes out looking like a purveyor of an untrue statement?…that we do not know which one of these guys is spewing untrue statements but one of them certainly is?…that we also have no way of knowing if the untruths are lies or just naiveté?

IS IT TRUE that if this loan gets jammed through with over 90% of the poll respondents in both the CCO and the Courier calling for a halt to this that it will mean that the Winnecke Administration has no regard whatsoever for the will of the people who elected him?…that at this point over 300 comments have been posted on the combined articles of the CP and the CCO without a single post that is supportive of this loan?…that even David Nixon got 15% of the vote in his landslide loss to Jonathan Weinzapfel in the 2007 City of Evansville elections?…that ignoring the will of over 90% of ones constituents will be fatal to the political careers of Mayor Winnecke and the 5 City Council members who supported this loan, especially the 3 at-large members all of whom voted yes?