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IS IT TRUE: March 20, 2012
IS IT TRUE: March 20, 2012
IS IT TRUE
that the Wall Street Journal is reporting that Wall Street firms are now lining up to become landlords by bidding on pools of foreclosed properties that are being sold in packages by Fannie Mae?…that while it is certain that getting distressed properties off of the market is something that will serve to form a bottom for housing prices there is something about this that stinks?…that there is a rule called the “prevention clause†in some transactions that makes it illegal for a person or business that causes a hardship to benefit from the hardship that it created?…that to see Wall Street firms now picking up residential housing for something like 20 cents on the dollar when it was the practices of Wall Street firms and banks that precipitated many of the conditions that caused both the housing bubble and the housing bust in the first place?…that we are sure that SNEGAL(sneaky but legal) is involved here but it really does not sound well for the firms who created the destruction of wealth to now be buying the basis of the wealth that was destroyed for pennies on the dollar and renting the houses back to the people that were foreclosed upon?
IS IT TRUE that gasoline prices have the whole country by the throat again and this time even people of means are having their lives impacted?…that people with trucks and gas guzzlers are reporting costs of over $100 to fill up their vehicles when only a few short years ago the price to do so was under $50?…that most people seem to have lives that involve one fill up per week?…that no matter how you run the numbers the whole “buy a new $40,000 car that gets better mileage†argument just does not translate into good financial sense?…that when buying a new car there will be a 7% sales tax charged, the insurance will increase, and the annual license fee to the BMV will increase dramatically so getting rid of a reliable clunker will never make financial sense unless of course gas prices go up by another 100%?…that the other hidden costs are added to everything that has to travel to market like FOOD, CLOTHING, CAR PARTS, SERVICES, ETC. ETC. ETC.?…that energy prices are truly the Achilles heel of modern society?…that when calculating the COST OF LIVING increase the federal government intentionally leaves out the costs of ENERGY and FOOD in hopes that the huddled masses will not have the good sense to realize the reality of just how much energy prices affect our day to day life?
IS IT TRUE that if the gas prices continue to climb or even stay where they are now that there is a CAR BUBBLE on the economic horizon?…that first there was a STOCK BUBBLE, followed by a HOUSING BUBBLE that poor public policy and speculators drove that is about to repeat itself with AUTOMOBILES?…that you ask how such a thing could happen?…that suppose for a moment that you are the owner of a GAS GUZZLER that you bought in 2009 for say $35,000 that you still owe $22,000 on?…that in normal circumstances you may have some equity in your vehicle by now?…that lets further suppose that you want to sell your GAS GUZZLER and NO ONE WANTS IT?…that in such a case you are as stuck with that GAS GUZZLER and a homeowner in an “underwater” house is stuck with the house?…that the current gas prices have already started negatively effecting the used car market for gas guzzlers and that this negative effect will start to accelerate rapidly in a couple of months during the travelling season?…that if no one wants your GAS GUZZLER that the value will plummet to a small fraction of what you owe on it?…that is exactly what happened to stocks and housing and the result was massive defaults and the destruction of wealth?…that in times like these WHEN ENERGY PRICES INCREASE THE VALUE OF NEARLY EVERYTHING ELSE THAT IS TANGIBLE WILL DECREASE?…that we at the CCO do not pretend to have the answers but we do acknowledge the magnitude of the problem?
IS IT TRUE that speaking of energy companies the Mole Nation reports that Vectren Corporation seems to have a new employee?…that former Indiana State Senator and Director of the Metropolitan Evansville Transit Authority was reported to be working in the booth at last weekend’s HOME SHOW handing out brochures?…that people are beginning to wonder if Vectren is the last resting place for politicians who have reached the end of their time as an elected official?…that we wish Bob well in his new career at Vectren?
Pitzer to Lecture on New Book
Dr. Donald Pitzer, professor emeritus of history and founding director of the Center for Communal Studies, will present a public talk on his recent book New Harmony Then and Now (Indiana University Press, 2012) at 2 p.m. Tuesday, March 20, in Kleymeyer Hall in the lower level of the USI Liberal Arts Center.
With images by Darryl Jones, New Harmony Then and Now is a photographic and historic celebration of two of America’s great Utopian communities, both of which began at New Harmony, Indiana. One of these, founded by the German Harmonists under George Rapp, was at New Harmony from 1814 to 1824.The more famous community began in 1825 and was the work of the Welsh industrialist Robert Owen, whose earlier mill and village at New Lanark, Scotland was one of the most influential social experiments of the day.
Pitzer is a long-time scholar of New Harmony. His previous works include America’s Communal Utopias, New Harmony’s First Utopians, and New Harmony, Indiana: Robert Owen’s Seedbed for Utopia.
Following his talk, Pitzer will be available to sign books from 3 to 4:30 p.m. at the Center for Communal Studies (Liberal Arts Center Room 2009). Light refreshments will be available.
Entrepreneurship Fair Showcases UE’s Student-Founded Businesses
From cupcakes to custom suits to colorful African jewelry, approximately 50 students in the University of Evansville’s Schroeder Family School of Business Administration are showcasing their products and services today at an entrepreneurship fair.
The fair will run from 9:00 a.m.-2:00 p.m. in the Schroeder Family School of Business Administration Building atrium. Admission is free and open to the public.
Sixteen student-founded businesses are taking part in the fair as part of a two-semester curriculum in entrepreneurship, taught by UE assistant professor of management Joe Trendowski.
During the fall semester, students enrolled in Business 269 (Fundamentals of Entrepreneurship) form a business plan and secure loans for start-up costs. In the spring, they continue their efforts in Business 270 (Experience in Entrepreneurship) by launching and marketing their businesses.
“This curriculum not only walks students through the entrepreneurship experience, but gives them a real-world opportunity to put their academic knowledge into practice,” said Trendowski. “Today’s entrepreneurship fair is a chance for students to share their hard work with the UE community.”
One of those students was sophomore Taylor Parker from Louisville, Kentucky, a business management major. His business, Ekisa Designs, sells jewelry and other small crafts handmade by Ugandan widows. Proceeds return to the widows and also benefit Fields of Dreams, a partner organization that promotes soccer and education to help Ugandan orphans.
“I’m big into social entrepreneurship — how I can use my business to help someone else,” said Parker. “Business 269 and 270 have given me organizational skills and helped me discover ways of overcoming challenges in starting a business.”
IS IT TRUE: March 19, 2012
IS IT TRUE: March 19, 2012
IS IT TRUE that that Vanderburgh County Commissioner,Commander of the Vanderburgh County Veterans and newly installed member of Gage Board of Directors, Steve Melcher along with Evansville City Councilman and Budget Chairman, John Friend, CPA never received an invitation from GAGE President, Debbie Dewey or Evansville Mayor Lloyd Winnecke to join them on their “VIP” bus trip to Crane Naval Base?…that to exclude actively engaged and highly qualified elected officials from this trip is amazing?…that neither of these gentlemen are happy about this oversight? …that the members of the Evansville City Council were invited by Ms. Dewey last week to hop a flight to Nevada so they could all lay hands on a prototype Langson Energy device that is shown on youtube?…that when they are needed to vote blindly the City Council gets a last minute invitation to Nevada but when it is a bus trip to Crane some of them do not seem to be wanted?
IS IT TRUE that the Evansville Bond Bank has a little over 11 Million dollars in its account?….that about 4 million dollars is committed to a water and sewer project? …if we round off the above figures to 11 million and 4 million that would leave the Bond Bank account with about 7 million dollars?…that if the Mayor and the President of GAGE get their way to loan 5 million dollars to a proposed start-up company that would leave the Evansville Bond Bank with only about 2 million dollars in this account?…that if this is this correct this a prime example of “bad public fiscal policy”?…that we wonder what can be accomplished with the remaining $2M if trouble comes calling which in a town that can’t mow its grass or assure that the contents of a toilet will find its way to the treatment station is a guarantee?…that for $2M we could build 10 more FDP houses to sit empty?…that we could refurbish 8 one bedroom apartments that could be bought for under $100,000?…that we could even reverse the direction of one street?…that regardless of what the future value may be that the City of Evansville does not need to be within $2 Million of its bond bank credit limit?
IS IT TRUE we wonder about the status of a start-up loan that Venue works received from the Weinzapfel Administration so they could begin to market the Ford Center?…that if the Ford Center has had the financial success that it supposedly has had that it is time to start repaying that loan?
IS IT TRUE that Mole 9 tells the CCO that the past Parks and Recreation Director who was famous for not keeping up with the maintenance in the City of Evansville parks is now the newly appointed Director of Park Maintenance?
IS IT TRUE that it explicitly states in the Investment Documents of Earthcare Energy that the testing that was recommended by CTC to be done on the Langson Energy device will be finished by the end of March of 2012?…that this being the case, shouldn’t it be prudent to delay committing any funding until this testing is complete and disclosed?…that with the testing so close to completion it would be appropriate for Earthcare to disclose to the Evansville City Council immediately exactly what tests are being run and who is doing the tests?…that such a technical undertaking should be nearing completion by now if it is to be finished and a report generated by March 31, 2012?…that is only 11 days from now?…that while they are at it Earthcare should advise the City Council where the $34 Million in additional loans that are disclosed in the cash flow section of their prospectus will be coming from?…that to date we know where they are counting on $5M to come from?…that at the burn rate proposed the $5 Million will be gone by Labor Day unless other funding is secured?
Earthcare Energy Investment Summary
The link below is to an investment summary document that serves as a prospectus for investing in the start-up business known as Earthcare Energy. As the City of Evansville has committed but not received City Council funding approval to go ahead with a $5 Million loan to this business the following questions are relevant and should be answered along with others that will follow when these are answered.
1. In the section called “The Product” reference is made to patented technology. It is now known that there are no issued patents. This discrepancy must be resolved and the reason for claiming patent protection for “old and proven technology” needs to be understood by all.
2. The pro forma for the company calls for a cumulative loss of $26.6 Million by the end of the second year of operation and for a break even to occur in the 38th month. How will a $5 Million loan sustain a 38 month ramp-up to break even when projected cash flows exceed $26.6 Million?
3. In later pages a reference is made to a year one common stock sale with proceeds of $10 Million.
4. The cash flow section of the pro forma refers to financing in years one and two in the amount of approximately $34 Million. This exceeds the City of Evansville’s ask of $5 Million by $29 Million. Should this package be in place prior to the City Council “jumping in first”?
5. There does not appear to be any provision in the pro forma for annual payments of $2.5 Million to the City of Evansville as has been widely reported to be the case.
When these are answered there will certainly be more questions and the CCO encourages the Evansville City Council to get about the business of understanding this business model and the technology behind it before scheduling a vote to play “Shark Tank”.
Link to the study that Earthcare says the DOD conducted
The following reports cover states that it was authored by Roger X. Lenard of the Concurrent Technologies Corporation. We must say that both Mr. Lenard and CTC (www.ctc.com) have multiple positive citations on Google covering a long period of time. The person whom this study was prepared for is Mr. Omar Mendoza who is a special advisor for technology for the Air Force Energy Program Management Office.
Furthermore this document is basically a road map on how to do a technology audit (VETTING) with a recommendation to the Air Force to investigate the feasibility of the Langson device. The document was issued in the fall of 2011 and addressed to the Air Force. It is not a DOD issued document nor does it endorse Langson’s technology.
What it does do is call for is further investigation and expresses an opinion with respect to the energy that may be available to be extracted by the Langson device if it really is what it claims to be.
The City County Observer endorsed and encourages the completion and publication of what this paper calls for prior to any consideration that the City of Evansville may give to funding a start up company.
It is also not clear from this paper if it was paid for by the Air Force, Langson Energy, or Earthcare Energy. It is clear that it is addressed to the United States Air Force.
Earthcare Energy Letter to the Evansville City Council and Response by 3rd Ward Councilwoman Stephanie Brinkerhoff Riley
The following email from Kenneth Haney to the Evansville City Council regarding the questions directed at the agreement between his company Earthcare Energy and the City of Evansville with the recommendation of GAGE was supplied to us by 3rd Ward City Councilwoman Stephanie Brinkerhoff-Riley and is reprinted by the City County Observer with her approval. Both emails are published without edit, opinion, or bias and are for the education of the people of Evansville.
Mr. Haney’s Email to the Evansville City Council
Dear distinguished Councilmen and Councilwomen,
My name is Kenneth Haney and I am the Chairman and founder of Earthcare Energy. I hope to meet each and every one of you in the near near future but for now I would like to apologize for not being able to attend the recent council meeting in which Stephen Geldmacher (my CEO) did an outstanding job answering all of your excellent questions regarding our technology and our decision to put our first and only anywhere in the world Manufacturing and Assembly plant in Evansville.
Ladies and gentlemen please keep in mind that our TFG technology is not a new technology but an approved upon technology that has been proven efficient and reliable since the 1960’s.
It was around the time in the 1970’s that the technology was shelved only because energy prices were so cheap back then that it was not cost effective to even manufacture the Helical Screw Turbine technology.
Now we are living in an environmentally conscious society and a world of soaring energy prices which makes our Total Flow Generator (TFG) an in demand world wide clean and cheap energy technology making Solar and Wind virtually obsolete because the TFG provides base line power, meaning that unlike Solar and Wind our TFG provides 24/7 clean affordable energy.
Folks you can Google Helical Screw technology and see for your self this isn’t rocket science but proven technology.
I have sent over inventor’s Patents today to Debbie Dewey. I also want to be very clear folks that we have no competition period.
I cannot guarantee that there will not be copy cats in the future even though we have patents but when did that ever stop anyone determined enough to violate them. Even though I would be on them with a lawsuit that will make their heads spin I still cannot guarantee this won’t happen so I will never promise you that. What I can promise you folks is that Earthcare Energy will flood the market so fast that the copy cats can’t effect our market share enough to do us any damage. Being the first to market insures our success for the long term. As you good folks know this is business 101. This is why Earthcare Energy’s business is to License other qualified Agents and Dealers because our market is so enormous
that we can’t cover enough ground without recruiting all over the world. This is also the business model of tech giants such as Apple, Dell, HP. They all have licensees such as Best Buy and Resellers. I used to be a Reseller for all those brands myself.
I also want to address all the comments you are reading about from some citizens and so called engineers. One word folks (Haters).
Folks we at Earthcare have provided everything that we have been asked within reason for your due diligence and I appreciate the work you have put in this process. You have a powerful tool at your finger tips that I provided you with which is again attached to this email and that is a thorough Engineering report from the US Government Department of the Defense on our TFG. While Earthcare Energy is under a strict US Government NDA I have attached this report for your use. I see some of the comments the nay Sayer’s write or the so called engineers out there trying to make a name for them selves. The DOD brought in the worlds best engineering firm to evaluate our our technology. Folks you don’t get no higher than the Department of Defense and you will read in the report we passed with flying colors and you will see that the Author of the report recommends the Government moves on our TFG without delay. You will also read that Authors
Excellent Scientific BIO. If I had to choose I would certainly bet on the DOD engineers than a bunch of folks who don’t know anything about what they are saying but you have a high level engineering evaluation at your finger tips.
Folks this is about bringing jobs to your city for your citizens and to be clear it was I who offered to give Evansville $32M revenue sharing to show our support for the City in return for your support of Earthcare Energy’s Loan.
Yes, we had better offers from cities around the country especially South Carolina. So why Evansville then? It’s simple, we can have a significant positive impact on Evansville by eradicating the unemployment rate. Folks it’s not always about the money but where I am needed the most and I raised my kids in Evansville and my son lives there now with his wife and my grand daughter.
On the 26TH you will make in my opinion one of the most important Votes in Evansville history based on what Earthcare Energy can bring to Evansville. The US Government will smile upon Evansville and tell the rest of the country ” they need to do it like Evansville did.
Folks our backgrounds speak for itself. DOD does not deal with flakes or Conn artist.
I know you will make the right decision come the 26TH because you are all visionaries and you want to do the right thing for your great city. Earthcare Energy is the next Google where ever we go.
Thank you all for your service and consideration. The citizens of Evansville and Mayor Winnecke are blessed to have a great group of folks like you in office looking out on their behalf.
Please feel free to call me directly with any questions. I would be honored to speak with you all.
The Department of Defense report is attached.
Ken Haney
Chairman/Founder
Earthcare/Energy
RESPONSE BY EVANSVILLE CITY COUNCILWOMAN FROM THE 3RD WARD: STEPHANIE BRINKERHOFF-RILEY
Mr. Haney:
Thank you for your email. I really appreciate your interest in Evansville, and I am hopeful that you are able to build a manufacturing facility here. However, I am concerned about the representations that were made by Mr. Geldmacher Monday night and by your email. Both of you have stated with no uncertain terms that the total flow generator is patented technology of which you have the exclusive rights. Mr. Geldmacher also stated that Richard Langson owns the patent, and that Langson Energy is an agent for Earthcare Energy. My major concern with your statements is that you don’t actually have a patent. The information you sent to Ms. Dewey listed a patent application number. I looked it up, and I do see where Mr. Langson has applied for a patent, but it has yet to be issued. It is my understanding that there is no protection from copying until the patent is issued, and there is ultimately no guarantee that your application will be approved. There is a significant difference between a patent application and a patent. My concerns are heightened by the comments of Mr. Geldmacher that there are ownership issues and your statements that you wouldn’t be surprised if you were copied. When Mr. Geldmacher appeared on Monday and admitted ownership issues in response to one of the questions, I assume that he also knew that the patent application had not been approved. Without a patent, anyone is free to copy and market the machine you are calling a total flow generator. Under the circumstances, I do not understand why you and Mr. Geldmacher have represented that you have the exclusive rights to a patent. You actually claim more than one patent in your email. Your statements are unclear at best. Only one of 3 things can happen with this patent application. You could actually get a patent, or you could find out that there is prior art or that the technology is already in the public domain. If there is prior art, then your machine violates someone else’s patent, and if the technology is in the public domain, then anybody can manufacture and sell it. What possible assurances can you give us that this patent is going to issue? Given the misrepresentations that have been made, please understand that your verbal assurances aren’t enough. If you are confident that a patent will issue, then open up your patent prosecution and let us see the objections and search report. I would like for this to work, but you’ve created a hot mess with all these statements about having a patent.
Respectfully,
Stephanie Brinkerhoff Riley
IS IT TRUE PART 2 3/16/2012: GAGE’s Dewey Planning a Trip to Reno to “Touch” Earthcare Prototype
IS IT TRUE that GAGE President Debbie Dewey has been getting some serious questions regarding GAGE’s recommendation that the City of Evansville make a $5 Million loan to Earthcare Energy?…that there have been questions regarding whether or not a working model exists, whether or not there is a license agreement with any substance behind it, who owns the patent Electratherm, Langson Energy, or Richard Langson, and what is Vectren’s role in this deal?…that Ms Dewey responded to such questioning with the following email?
“I am preparing a binder for each of you and hope to have it ready early next week. It will include answers that I have to questions you have been posing and provide copies of the back-up documents that I have. I am also working on scheduling a trip to personally see and touch the prototype unit in operation. Does anyone what to join me on a trip to Reno next week for this purpose?
The PPA with Vectren and the License Agreement with Langson are proprietary documents which the parties will not make public. Understandably, the terms might influence other potential customers and dealers with whom they are currently negotiating. This is a reasonable business position given the investor-owned entities involved. Vectren did confirm by letter that they are entering into a 20 year PPA; and we have requested a letter from Langson addressed to the Mayor which confirms the relationship with Earthcare. I have also asked if they could provide a copy of the agreement with Langson which has confidential portions hidden.
Please keep emailing questions as they arise and I will do everything possible to get the answers.
Debbie
Deborah D. Dewey, President
Growth Alliance for Greater Evansville”
IS IT TRUE that one good question to this response is just what on earth does touching a prototype have to do with verification of any legal issue that may exist or with verifying that a unit is installed and working anywhere?…that if the City of Evansville is dealing with a “Wizard of OZ” that the Wizard will put on a better show in OZ than his representative put on in Evansville last Monday night?…that what needs to be done is to find a prototype that is installed on a pipeline and producing electricity as it is claimed that it will?…that we are sure that somewhere within driving distance of Reno, NV that there is some competent engineering company that has the test equipment and knowledge that would be need to conduct this test?…that if there is indeed a prototype that is worth touching that is available to be tested then that is what should be done?…that we are certain that testing the output of a generator will cost considerably less that VETTING a hotel proposal as every elementary school windmill contest like KIDWIND in the country has to do such a test?
IS IT TRUE that the real question is just how on earth did a recommedation to the Evansville City Council from GAGE happen without the benefit of “touching” an actual prototype, witnessing and reviewing a testing of the device, and validating the legality of the technology that is supposedly licensed?…that any and all members of the GAGE Board of Directors who were party to such a recommendation should hang their heads over this now that a “touchy feely” trip is being planned?…that the elected officials on the board who are party to this (if they were indeed party to it) should join some members of the Evansville City Council in demanding some answers before going forward with funding a start-up business with little to show?