IS IT TRUE March 5, 2014

50
Mole #??
Mole #??

IS IT TRUE the following records were discovered and made available to the City County Observer regarding the approval of a loan not to exceed $5 Million for the purpose of extending a loan to Earthcare Energy LLC?…if the date of this official record (December 31, 2011) is correct it would be the last day that Mayor Jonathan Weinzapfel’s serve as Mayor?  …if this information is correct it would make it likely that the Earthcare deal could have originated during the last days of  Weinzapfel Administration?  …if the above information is correct it may be time for the people of Evansville to demand full disclosure on how this deal was introduced to Evansville?…it  may be time to launch an official investigation to determine who  was involved in this transaction and what local officials helped this deal to be approved? …if this  investigation leads to people being prosecuted so be it? …this is a cut and paste from the official SBOA records?

THE EVANSVILLE LOCAL PUBLIC IMPROVEMENT BOND BANK
NOTES TO FINANCIAL STATEMENTS – CASH BASIS
December 31, 2011

In March 2012, the Bond Bank agreed to purchase a Revenue Bond issued by the City of Evansville for the purpose of making a loan to Earthcare Energy, LLC. The Revenue Bond helps finance economic development facilities situated within the corporate limits of the City and pay costs of issuance for an amount not to exceed $5,000,000. Principal and interest are due the first day of the month immediately following the second anniversary date of delivery of the Bonds. The interest rate will not exceed 1.5 percent per annum.

http://www.in.gov/sboa/WebReports/B42484.pdf

IS IT TRUE since there is easy money to be had that isn’t even from local taxpayers according to Evansville City Attorney Ted Ziemer and GAGE President Debbie Dewey since it happens to be sourced from the federal money, the management of the City County Observer would like to get our hands on some of this money to pursue a most certainly failing business model?…that failing business model would be to start a local newspaper that is actually printed rather than published online?…the United States has seen a number of major metropolitan dailies shuttered or drastically pruned including The Rocky Mountain News, closed in February, and The Seattle Post-Intelligencer, reduced to a bare-bones internet operation?… The San Francisco Chronicle narrowly averted closure when employees made steep concessions?… In Detroit, both newspapers, The Detroit Free Press and The Detroit News, slashed home delivery to three days a week, while prodding readers to visit the newspapers’ internet sites on other days. In Tucson, Arizona, the state’s oldest newspaper, the Tucson Citizen, said it would cease publishing?…that the reality of the world today is that print media is about as bad of a business model that is possible?

IS IT TRUE for these reasons the City County Observer would like to request a $500,000 loan with the same terms that Evansville gave Earthcare Energy to start a print newspaper?…by doing so the monopoly enjoyed for many years by the Courier and Press will be broken and some jobs will be created?…we just have a few conditions on which we will accept such a loan?…we will offer no personal guarantees of payback, will not submit a business plan, and have no intention of providing any personal financial statements or allowing a credit check?…our other condition is that if and we must say if there is any VETTING to be done of our operations that Evansville City Council members Stephanie Riley and John Friend are not to be allowed within five miles of our books?…we do however welcome the Evansville Redevelopment Commission and the Loan Administration Board to VET all they want?…we even invite Mayor Winnecke and his Staff to verify that we really exist because if we fail to incorporate we are certain they will not catch us?

IS IT TRUE in all seriousness that was satire but we do hope the City Council has the votes needed to pass a VETO PROOF rescinding of the Earthcare Loan agreement?…that will take 6 votes to make happen?…we also hope they have the follow through to do what they said and put a dagger in this unmitigated disaster that is sure to be fodder for jokes in Evansville for the next century?

RELATED ARTICLESMORE FROM AUTHOR

50 COMMENTS

  1. Is it true that the mention “Earth Care loan” on that report was like this?

    #8 Subsequent loans

    March 2012 Earth care, 5 million

    November2012 Waterworks 4 million

    Even though these two were mention on the 2011 report for whatever reason, other then maybe additional information.
    I see no loan made by the previous mayor. Keep in mine this report was turn in late 2012 and not January 2012!

    • I’m kind of the same as you Armstrongres. I don’t understand the title “subsequent.”

      Was it part of the budget or just insularity information provided by the audit for who knows why?

      Maybe someone can save me from my ignorance.

      • You issue a note an subsequent items that take place before the issue date of the report but after FYE.

        • Earthscare appears to have been approved and funded after the balance sheet date, given the above disclosure notes. You issue this type of note if a material event occurs after the date of the financials..this would qualify for such an event.

          In other words, a loan made in March 2012 might not have been discussed before 12/31/11.

          The Earthscare loan appears to have been originated after 12/31/11, which would have left Weinzloser out of it. If the loan would have been approved before LW took office, that would have been disclosed in the notes of 2011 financials and a proforma balance sheet could have been issued in the notes.

          This of courses assumes that the SBOA is following GASB disclosure rules. Getting emails prior to FYE 2011 about this loan is the key, which I think someone has suggeted…good luck with that.

    • Armstrong,

      A little confused. The City got a disclaimer of opinion for 2011 (no audit was completed). Did SBOA actually do ‘subsequent event testing’–even when the books were in such disarray they couldn’t perform an audit ?

  2. If this is how local politicians treat our federal taxpayer money, its no wonder trillions are pissed down the drain. The attitude displayed by some members of the City Council is reprehensible.

    In 2012 the CCO published the findings of vetting done by Councilwomen Riley (https://city-countyobserver.com/2012/05/07/councilwoman-riley-releases-vetting-information-on-earthcare-energy-deal-management-team/). After reading that I challenge anyone on the council to justify their current decision to kick the can down the road and deny this is nothing but a political decision.

  3. Ken Haney, in official business correspondence, used the word “haters” among other silly language. These geniuses were prepared to let him walk away with 5 million. I wonder who personally was set to get a piece of the pie.

    • You know after reading Councilwoman Riley’s report from 2012 (https://city-countyobserver.com/2012/05/07/councilwoman-riley-releases-vetting-information-on-earthcare-energy-deal-management-team/). I tried substituting names and companies in her report to remove the political aspect.

      Even then if I looked at her report as a businessman or individual there is no way I would have proceeded with the deal. At best its got shady-ness written all over it and their technology does not add any points in their favor. It seems to appease the environmentalists, this is after all dealing with “clean energy” even Republicans are not immune to scams and will like Obama piss away tax dollars to curry favor even if it means incurring the ire of taxpayers.

      As you note, it is shall we say rare or uncommon for a business using official business channels to use the words he did. In fact it is more common for businesses to use as few and benign words as possible and always in a professional manner.

      I don’t know if the Mayor or anyone in the administration gets a piece of the pie, that would be very interesting to know. The digging around I have done has not revealed any of the administration members having a connection, though my research has not been exhaustive.

    • And that bluff was enough to make little Lloyd shake in his boots OR he was in on it the whole time.

    • “Since when did the city start acting as a bank?” Lindsey said Saturday.

      * * * * * * * *

      In answer to Lindsey’s question, I would say certainly since January 1, 2004.

      ___

    • If local authorities have the balls to dig into this we will all understand just how corrupt Evansville has become. There were many patronage brats lined up to suck this cow dry with no regard for whether it was a good deal for the city or not. This deal is a small local version of what landed Bernie Madoff in prison.

      • How about we let Haney keep the $200,000 that he can never pay back if he comes completely clean and takes a lie detector test. I bet Haney knows every rat that was poised to eat from the garbage can. Haney and crew may just be pawns in a scheme to steal $5 Million from the city by its leaders.

  6. It appears that this debacle does carry fingerprints of both the Weinzapfel and Winnecke administrations. The questions about “pieces of pie” are valid, but I wonder if the “pie” that the administration toadies shared in was actual “money pie” or if it was just smelling the aroma of the job-creation “glory” they thought they were “baking.”
    I really believe that it is possible for this to have taken place without money going into the pockets of any of the City’s main actors.
    I liken this to the many stories we hear about a lonely person turning a blind eye to the faults of a new suitor. Let’s face it, Evansville doesn’t have many suitors. It is easy to see how Weinzapfel would want to leave a “legacy” and how Winnecke wouldn’t want to be accused of dropping the ball.
    It is entirely possible that the “leaders” of the City fell victim to a pure scam, entrapped in their own vanity. I will feel better about Evansville if it turns out that some of the officials involved really are “on the take.” Larceny can be punished, but there is no recourse for having elected oversized egos. If that is the case, maybe we should change the name of the city to “Hubrisville.”

    • To bring back one of my sayings concerning the arena, there are several fingers with pie on them. What’s sad is either these people are that corrupt or that stupid. I think it’s mostly that stupid.

    • I think its more of the aroma but they have mistakenly confused that aroma with something less pleasant.

      I am puzzled by this and not sure if there is any graft going on, the “smell” of job creation glory, just plain old ignorance, its “just Federal tax dollars so it doesn’t really count, just to stupid to see a con or they *know* they have been had and lack the balls to come clean.

      If you have read the link I posted above about the 2012 report I cannot understand how anyone could possibly think it was anything but a scam.

      • I agree, I’d just rather believe it’s corruption instead of stupidity. If anybody made any under-the-table financial gain, it would likely be an appointee instead of an elected official, I think.

        • Long time ago in the last century I dabbled a bit in penny stocks just for grins, did alright and all but it was a chore. Why? If you read the link to that 2012 report in this thread one of the things she talks about is the number of companies and name changes this guy was involved with, it almost sounds like the shell game. Its not uncommon for penny stock companies to follow the same pattern.

          • But none of their stock is even worth a penny, unless your happen to be managing federal money in Evansville.

      • Gee,looking from afar,this all just looks like what I’ve heard is described as some “snorkel funding”.(Evansville GrandFather)

        Basically I’m thinking getting out from under the water,would be a better option than “extending the snorkel.”The water keeps raising and the pressure due the depth eventually smashes the snorkel. The “project” on the snorkel dies anyway,to deep to make the surface.

        Its pretty apparent looking in where, or, what is at the submerged end of the snorkel there. How it got there is clear,as well.

        Clean up the environment,build up your crumbling infrastructure for the “changed climate”,sell the “snorkel” to someone who still needs it.

        “aquae inferiores,potest amittere snorkels”

        “lower the water,you can lose the snorkels”

    • “It is entirely possible that the “leaders” of the City fell victim to a pure scam, entrapped in their own vanity. I will feel better about Evansville if it turns out that some of the officials involved really are “on the take.” Larceny can be punished, but there is no recourse for having elected oversized egos. If that is the case, maybe we should change the name of the city to “Hubrisville.” ~~ Elkay

      Good point. A high level of vanity (and or greed) in the mark is sometimes the overriding feature that makes a good con work. If that was the case and no untoward money transfers occurred, it begins to look like stupidity mixed with hubris — that $200,000 never had a chance. The loan extension was outrageous and should be looked at by the feds.

      If Winnecke actually is mayor, and I believe he is, you’d think he could have stopped this earlier if he wanted to. Perhaps ZRasputin had other ideas. Maybe only one or two people actually took money (maybe none did). Maybe Gage is desperate to justify its existence and outrageous salary for a pretty mediocre person. Gage seems bitter over this thing falling apart, publicly thanks to the CCO. Their press release yesterday indicates they are not well connected with reality.

      • If I was going to look for indictable behavior, I think I would look at Gage first. I have no way of knowing anything, but I would look first to those who brought the scam artists to the table. I doubt that there will be any kind of outside investigation, and I can’t imagine that inside investigations would yield any truth. I truly hope this does get the deep-diving scrutiny it deserves.

          • Earthcare serves a purpose. Nothing brings people of different ideologies together like having a common enemy does. I love ya man.

          • Indianaenoch,

            yes even with all our different opinions, there still some things most or nearly all of us can agree.

          • I had forgotten about this. I love the OEM- Original Equipment Manufacturer. Teehee. What a belly laugh. Even if these fools had really had the right to “manufacture” the Total Flow Generator, it would have been an assembly facility. These are all shelf-bought component parts except for the “patent pending” piece, which was always going to have to be bought through Langson. That was/is his way of keeping the money rolling in on his “invention.” Plus, he’s connected to Elite- they’re old buddies from Langson’s Green Machine, which he “invented” before the Total Flow Generator.

          • “Debbie did a tremendous job, Debbie went to Nevada to put her eyes on the technology to insure it worked,” said Winnecke. ~~ WFIE Article

            The Gage response to the heat this thing is generating seems to indicate they still think the 5 million loan is not only a possiblility but on track to happen. I’m not real sure how much plainer it can be. Focus on Gage.

            There might be several people involved in steering the Haney Mob to Evansville but there is one that got it rolling. That person needs to be ferreted out. Even if there is no criminal liability they should be properly identified and tattooed.

  7. Personally, I’ll settle for a $50K “home improvement” loan from the city that I get to walk away from. They can keep the patronage job.

    If you can hold on for another couple of years, editor, there may be a real bargain to be had locally on slightly used newspaper presses. Low mileage, minimal contact with hard news or investigative journalism, operated gently by copy boy/playground reporter. They’re real creampuffs!

    Is it also true that uber-liberal Democrat Alan Grayson has stepped up his personal war on women?

    http://touch.orlandosentinel.com/#section/-1/article/p2p-79518636/

    • AmPad $100M pulled in dividends
      $392M bankruptcy

      GS Industries $65M pulled in dividends
      $400M bankruptcy

      Dade International $200M pulled in dividends and fees

      $1.5 BILLION bankruptcy

      DDI Corporation
      $95 Million is fees and dividends

      BANKRUPT

      Stage Stores
      $100M pulled in dividends

      BANKRUPT

      Detalis Inc.

      $93M pulled in dividends
      BANKRUPT

  8. Recommend that a separate investigation or at least an audit by an outsider be performed on the Bond Bank. What the hell is this ?

    That fund, or organization, not sure which paid for the Chema consulting and other Fraud Center expenditures,and was later reimbursed by that ‘APPROVED’ straw man board, the ERA.

    “Let the Sunshine in”

  9. Where was all this City Council “oversight” when a member of their own party was Mayor?

    • I think you’ll find that the person who did the most of the vetting, Councilwoman Brinkerhoff-Riley, took her seat on the City Council in 2012, as the Weinzapfel administration exited.

  10. Anyone wanna take bets that the 6 votes for rescission would be the same 6 that struck down a $37.5m hotel deal?

    That leaves 3 who still won’t be able to pull their heads out.

    • I’d need CPR if there is any change in who votes in the public interest. Looks like we have three who just can’t grasp it.

        • How does Steve Schaefer feel about it, though? I do hope he has sent out letters of apology for his “over the top” behavior to the City Council members who showed up at the meeting, but I’ll just bet he hasn’t. Schaefer’s attitude makes me wonder who the REAL Mayor is? Lloyd W, Carol, or Steve?

  11. Is it possible that the Indiana SOS has some sort of template it uses to determine if a company fits the profile of a scam organization? I believe that is within SOS’s area of responsibility.

    If this is a legit business plan, why have they not found funding from traditional sources?

    ___

    • I do not recall them ever showing a real business plan when the local buffoons were fawning over them. They probably don’t have one. How can you make believable projections for selling a product that has not yet been tested?

      • Or approved,through codes and safety testing requirements. I can’t find anything that show they did that yet?
        Product liability is Godzilla* sized issue these days.

        Note: The 2014 Godzilla movie trailer* sound bites like the script was wrote for this.
        It said coming this summer,as well. 🙂

    • Business Plan!!!??? What the hell is that needed for!!?? We have a $30 million investment in a hotel to no where and the city was told by HCW Thant, “we are the business plan.”

  12. Wonder what Ms. Riley and John Friend have to say about this issue? Oh, the article on the top right hand corner of the of todays CCO. Nice picture of the Mayors attorney, Ziemer.

      • The trick is to let him do all your vacuuming and not buy the product when he is finished.

        • I guess it’d be too perfect if you could tell him you want to see the ‘turbo’ feature again and have him vacuum himself up once your house is spotless.

Comments are closed.