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New CEO update 5-10-05..
Can certainly relate
to the tone and mood of the board last few weeks..
Silence, along with an eroding share price will cause that I suppose. They ( the Gleasmans and The CXO guns) certainly have seemingly made- on the surface- some blunders in the bold language of prior releases and updates....They have given back all or most of the shareholder value since their engagement- so they can't crow about that- saying they expect a signed Letter of Intent with Troitec unit of Chery "any day" at the Annual, then..not poof a word for five months..etc..etc..Before the faithful bash me..I've been here a while..sold a smidgeon, but have held since 1999 or thereabouts..While they are "focused like a laser..It feels like we're moving like a Glacier"
P.S Please not another update on the DARPA project unless you say the U.S. Military has purchased the exclusive rights to the develop FTV for a cool 500 Mill or so...
CHERY AND PININFARINA
NAB "BEST NEW CAR" WIN AT SHANGHAI AUTO SHOW: The Chery M14 coupe-cabriolet hardtop convertible won the "Best New Car in Show" from a jury of journalists at the Shanghai Auto Show. The M14, a 4-seat retractable hardtop convertible will be among the 1st Chery vehicles that Visionary Vehicles LLC will bring to the US in 2007, and will have a sticker price less than $19,000. Visionary Vehicles ..not a bad looking ride check out www.vvcars.com
Well said..
good points all..this one is not for the faint of heart,clearly
Oh Yeh...
I've never snorted the Bolivian Marching Powder and I don't smoke crack either.....Peace...
O.K..
Here is a real non engineer, Blue Collar, Reader's Digest version of what may be going on..Or Atleast what Torvecian is hinting at may be going on...Fain is named CEO because he is CPA Financial Deal Analyzer type and that's the stage they are at on atleast one product line, if not the entire company..Carlisle is brought in to referee the asset sale and make sure all the possible suitors have been appropriately approached and he's the kind of the "deal maximizer.." through his contacts..They put the picture of the man from the Far East on the website to say what they can't say to investors- "people are interested this product(S)- be patient things are happening we can only tell you what we can tell everybody.. etc " Then Ms. Ho is brought on board to work directly with the Chinese suitors for the IVT, ISo torque, and the FTV to assist with language obviously, but also to assist in coordinating the "deal from that side of the globe" and to assist in the transition of the deal with the Chinese... O.K it's only 1:40 Eastern so I've had no Labatt's, I'm not allowed to smoke the "hippie lettuce" at my work desk - so I've already answered some of your responses..Just chalk it off as a day dream- if I've offended any...by the way my dream ends @ $43 a share...!!!!!!
Hey Dread;
Thanks for the timely pieces..I was going to ask if you quoting old Chinese proverbs ( the still water one) was intentional. It certainly seems as though everyone's attention is not so slowly looking far to the East..I'm not smart enough to "connect any dots.." I'm in sales not an engineer..I can't make anything but I can sell stuff, which in turn helps one make money..I hope that is what Ho and Carlisle engagements are designed to accomplish..cause I think we are ready, know I am...P.S off topic Man has Ford's quality ever gone in the crapper..I've had to replace three Wheel bearings on a Focus Wagon in the past 6 months 42,000 miles on it all happened past warrantee..no warning just hear a wierd noise feel a vibration and if I had gone another 400 yards the freaking wheel would have fallen off..Quality apparently isn;t job #1 anymore...Real comforting when you have small kids..Give me my Chery SUV knock off with an ITV, Pinafarrina design..I'm all for Buy american..just give us what we want and need...
Or maybe..
He's gotten a jump on Golf season as spring as sprung early.....Either way..all I know is that Otto said the "pace would pick up in dramatic fashion in the coming months" back in September of 04..and maybe it has behind the scenes..but nothing that translates to anything above $4 a share...suppose I outta clean up the clubs and practice my putting while the marathon continues...Leitrim
Too bad
it was on Channel 8 which basically means about 7 people saw it...Actually coverage is coverage I suppose..I sure as heck hope that all we hear from the company prior to September isn't just DARPA Challenge updates..If that's the case we'll slog around here @ 3-4 a share or go lower- that would be about a year to get IVT results off a dynamometer..and that ain't "weeks that's a year.."..Yes I'm bored..(and gas is $2.45 a gallon..) Regards...
Too bad
Hey Tor:
you are one for detail...I hope you are right with you're theory/speculation...MacNamara said at the Annual that "as a publically traded development stage company, we either tell the world of progress, or we tell no one"...that being said, doesn't mean you can't take a few Kodak Digital snaps and plop them on your website for longs to hang on and postulate a little...Let's see..
Dread...
Dude at this point I don;t care if it's "the Carlisle Effect", " The Fain Factor", or a walk off "HO"me Run, I'm just anxious to start cheering something..( Sorry in advance that was poor even for me..) Over & Out...
Casac:
Are you of the opinion that some of commercialization occurs soon ( weeks not years)???? Not leading or being antagonistic..in fact my thinking is with the CEO change that, in fact they may be ready to crunch some numbers, review financial scenarios- really talking turkey.could be totally off base and the doubters can be dead right..but what is driving my thinking is basically nothing more than this..timing..the timing for almost all of TOVC's portfolio has never been better..now if they keep hammering the DARPA updates and we hear nothing with $$$ attached with respects to IVT Deisel, Iso Torque, Chery contract around Labor Day..well it'll be time to ride into the sunset with my friend Dread....50 cents of $50..?? where she goes nobody knows...
Leitrim
Open ?? to all..
purely speculation, but anyone want to take a stab as to when the IVT Gasoline results will see the light of day???via a Pr, CEO update etc???If it coincides with a PR on a formal Chery deal or some partnership with an OEM, that would be cool, but anyone think for a minute that gas isn't going to be $2.75 a gallon on the Fourth of July Weekend??? I wouldn't want to be a Hummer Salesman this summer..If results are close to Deisel application...38% improvement..?? still watching, hopin waiting...
Lynx
<High gas prices are here to stay, folks and I may be driving my last SUV.>
You and alot of other folks I assume..unless they can get, I dunno 40-60 % better milage in those "Road Hogs"???.Oh man,C'mon Phil, get us outta the gate there fella... or as KG has said " "the right technology at the right time... I agree so lets get the party started shall we..
Hey all..
just back from five days skiing in Utah ( pretty spot- great conditions in case any skiers are parked here) and it seems the natives continue to be restless with respects to TOVC..To an earlier poster's comments contrasting what MGT "can say" and the overall positive tone of the messages/ releases (The CEO change rationale indicating commercialization is close etc) with all the Safe harbor liability dance that exists today..perhaps it is pure foolishness on my part, but I think there is alot going on and that this will begin to play out ( hopefully in longs favor), but I'll change the mantra to "Months not years" (sorry but too many weeks already have passed)...Of course as all who have read my dribble in the past year or so..I'm subject to a wild mood swing and changing my mind in a blink of an eye..To whoever expressed good wishes on St Paddy's..it was appreciated..spent the morning skiing Alta, headed back to a hot tub, multiple Guiness' and then heap of corned beef and spuds..life can be really great when you can get to slow down a tad..
Leitrim
Hey Torvecian:
I suppose it's not yet 4-1 so your "Carlisle Effect" has yet to kick in..but In your scenario will it include a juicy release and maybe some volume????!!!Off to Utah Skiing next Week..make me money in the meantime O.K fellas..???
Leitrim
Here we are...
on March 7, 2005..USA Today says gas prices going up .20-25 cents in the next couple of weeks ( which means you can expect another .10 on top of that 'round July 4th), we've retained the services of one the country's leading auto consultants as full blown Director of the Company, we've been teased a touch about completed results of the IVT, the Auto World is apparently jazzed about the ISO torque (and not having to pay Toyota to be able to use the Torsen I would guess) being a better cheaper option to the Torsen etc etc.. So unless I'm really clueless or there is incredible resistance to any/all TOVC tech. via this NIH syndrome, I would have to believe when, in the next couple of "week's not month's" or thereabouts we have meaningful release, that is going to get us going and potentially exploding...( Yes I back to thinking happy thoughts and am climbing out of my winter funk..must be the sun today and the site of ice melting out the office window....Of course this is subject to change at any moment..)Help me out friends, are the stars aligning or have I had too much coffee today...???
Leitrim
Hope Phil..
is currently writing his first " CEO update" for the website..I want some MPG info on our Transmission..anybody check price per barrel on oil lately???I own some Exxon so I'm not all that unhappy with it..but would sure welcome the chance to buy a car with a transmission that helps me get more mpg..may even help our stock price too???( I'm all for double dippin..let's see Exxon @ $114 a share, TOVC @ $50 a share, even with gas @ $3.00 a gallon I could still find a reason to smile...:) lurkin and waiting for some percolation..Here's a general thought..If David Carlise is in fact a rock star in this industry..why not appoint HIM CEO, COO, Chairman, and grant him 5% of the common and turn him loose..Any thoughts????
Regards
Saw that too
Trucker and had the same thought..you beat me to the punch..How long do you figure before we get an update and or some test result numbers......Back to the snooze button..
Slan Leat
Leitrim
Dread:
Tuesday nights would work better for me than Thursday's- but you organize the "Hicks' Therapy Session" and I'll be there-= they have good soups......I think that may be the one thing I enjoy about this forum than others ..it is refreshing to hear another long ( you mainly) riding this manic roller coaster of emotional swings..Today, I'm down.. David Carlisle or not- I just have a gut feel that we follow this trading ( or lack there of) for a few more months...Hope I'm wrong...Yuck....The lack of a release of Tahoe testing is puzzling..not troubling to me yet but puzzling...If Carlisle was brought in to be the Industry credibility on the tech implementation or sales guy as opposed to JG..Well I'm o.k with that..
I remember Temple Barker & Sloane
from a previous work experience..very well regarded firm-
they were'nt typically engaged to help sell the corner grocery store..but they weren't cheap either..
Yep Trucker..
That's what we'd like to hear alright..I sent email to the company late last week if the release of data via the "worldwide automotive" networks etc ( see Otto's CEO comments) was likely to occur in the next 3-6 months and got a " cannot comment" which I pretty much expected..I have to believe they want to get it out there, but I can sure wait awhile longer for optimal results distributed to the widest possible audience..That would have to help share price ???
Leitrim
Yep Truck..
Dread:
The groundhog in Pa saw his shadow again this year...six more weeks of winter before Spring..check back then...They have been pretty faithful in web updates every month- but maybe the Annual Meeting summary will end up serving as February's??? ..As Tom Petty said
" Yeh the Waiting is the hardest part- everyday gets one more yard, you take it on faith, you take it from the heart, yeh the waiting is the hardest part.... ( P.s if you've over 55 I realize that reference probably won't mean squat, although it is applicable here !!!:)
Over and Out Leitrim
Yes Galileo, Dread & Co...
That is a concern...Anybody recall that bible verse...
"Whoever Exhaults himself will be humbled"..I really hope the Management team is given real autonomy to act on behalf of the shareholders best interests..Is that really happening?? Only those behind the scenes would really know..??But if there is one more shakeup in the near term..I'll be long gone..
Hey Warren:
I have to agree re some of your points of the Meeting..The energy was low ( I know that is totally subjective take) and it just seemed to me that management was kinda weary..like they wanted to believe what they were telling the group..Maybe this Chery thing will prove to be a fantastic partnership, but it sure would be nice to know if GM is interested as well ( save money, make money, solve emissions issues etc..)
Welcome..If you've been in for awhile then I can already attest to your patience..whether we are smart, well we'll have to hang in and see...
I'm a novice
compared to the Google-Master Dread but I thought this was a good Read from Detroit News..
China Car Importer Has Plans For U.S.
Visionary Vehicles Partners With Chery Automotive
UPDATED: 9:47 PM EST January 29, 2005
DETROIT -- When was the last time you could buy a car under $10,000 with a warranty that stands among the best?
Visionary Vehicles, Malcolm Bricklan's latest company, has great optimism. His partner, Chery Automotive of China, plan on importing 250,000 vehicles into the United States made with inexpensive Chinese labor within two years. The cars will carry a 10-year/100,000 mile warranty.
Bricklin was one of the first to bring Japanese imports into America. He is credited with the Yugo fiasco and the sports car that bore his name lasted only a few years. His latest partner, however, wants to be bigger and better.
"They think like me. They're doing everything I would do. I believe they want to be No. 1 in the auto world. If they want to do that they need to do it right and have to be honest. That's their intention and I'm banking my life on it," said Bricklin.
Chery Automotive produces small, inexpensive vehicles in China. They are the eighth largest car company in that county, but want to be No. 1 on American soil.
Chery's QQ car was allegedly a copy of the Chevy Spark.
"It's China, Chery and me. It's not just Chery and me. That's a pretty powerful story. People are going to be mind boggled with what we have," said Bricklin.
And those grandiose plans include five Chery models from a compact sedan to a SUV, with prices 30 percent below its nearest competitor.
"They know I can set up the dealer network, I can meet all the federal regulations and I can do it in the time I said we can do it in," said Bricklin.
Dealers privately told Local 4 they wouldn't risk a dime on the venture and others are equally skeptical.
Chery is best known for accusations that it knocked off the Chevrolet Spark, selling a look-a-like in China called the QQ.
Many insiders downplay the threat from China, but others say this is history repeating itself. "What happens here in the U.S.A. is very similar to what we saw with the Japanese and Koreans. Come in with entry level then move up. Interesting, Japan moved up and Korea slid in. As Korea moves up, the Chinese will slide in the $10,000 segment and that's where their get their foothold," said Michelle Krebbs, editor of the China Insider.
Chery is committed to an export strategy that includes original vehicle designs, luxurious interiors and world-class engineering, according to its Web site. This strategy incorporates the original styling of prestigious automotive designers, including Italian-based Pininfarina (designer of the Ferrari sports cars) and Bertone (designer of the world famous Lamborghini).
For More Information
Dino:
Same here ( the nice to meet you part)..I knew where you were coming from with most of your queries, but at the same time, I can also appreciate how Jim G. had you pegged as a short...just a quick thought which you can feel free to dismiss, but I get the drift that you have layed a bigger bet than you are REALLY comfortable playing at this Texas hold em which is TORVEC ( could be way off base as of course I know nothing of your resources nor is it any of my concern)..sit tight for awhile- see if there is a bump on test results and or an agreement that is consummated, then take some of your $ off the table and play with the houses $..That was nice to hear Jim addressed you personally after the meeting- I thought he should have ..You're an owner too- He may have a sh#tload more shares than all of us but your investment is a vote on the technology and the plan of execution- other than addressing you as "Sir" there really wasn't a lot of respect shown to you..Kudos to you to let it roll off your back I try to be that way too- sometimes it ain;t easy...!!!
I think..
even the CXO guys must cringe when JG gets going( with all this SEC safe harbor speak type regs now in place)..I find him, if not funny, atleast entertaining..I think he has probably has some real disdain for daytraders, shorters,market manipulators etc. and, after seeing your Father bust his ass for so long on the Technology and not get to see the end game,well who's to say he isn't entitled to have a little of that bravado, or as we Irish like to say a wee bit pissy...As far as where we stand..I think we're in an interesting spot..I have to admit I can't get the Chery as the next Yugo association out of my head...I simply have a hard time understanding how Major domestic OEM's can look the other way on Fuel Efficiency, reduced CO2 emissions, et al....How they gonna get cool on the CAFE stuff etc..Anybody???
Another thought..
and perhaps this is just venting..but Torvecian,,you've long said this is a "one launch deal"..I understand the float is astronomically low which is in our favor, but so is the coverage on this..I was somewhat encouraged by what they said they planned to do Nationally and Internationally as far as marketing selling the story of the Technology ( Dread perhaps you can expand on that dialogue from last night), but in my humble opinion-They could announce that the IVT also cures cancer and ain't anybody outside of the East side of Rochester NY is gonna know or find out about it....Is that Fair to say at this point, or is this Irishman just a touch crabby....you can knock me down, I'll take it and get back up again...:)...
Agree Somewhat..
with the Reporter..Combination of feelings on the meeting..Was disappointed somewhat that Billow Butler engagement just evaporated once CXO was in the scene due to overlap...atleast those guys had practical experience in automotive industry negotiations ( I know Jim and Keith do as well-but if you hire someone to do a job let them do it to completion???) I do not think anything is imminent as far as deals but I was engouraged that they would like to say alot more about positive developments ongoing but are precluded doing so by SEC law etc..You could tell Otto really wanted to share some specifics of current discussions but can not at this time..Bottom line I'm still here for now, still hopeful ( but cautious)- at times this can beyond frustrating but this is a monumental thing they are trying to accomplish with a whole host of technology..They used the anaology of the guy with 12 plates spinning in the circus as a positive analogy..Is it really though??? I guess will find out one plate at time..If you've been here for awhile I couldn't see bailing at this point
Zendo & Friends...
you folks are almost bubbling with enthusiasm..I sure hope you guys are on the mark on concrete announcements being forthcoming, real deals hitting the wires etc..I'm not there yet..not really cynical just real cautious- so just in case, there isn't as far to fall emotionally/Financially..Suffice it to say, I believe the CXO guys have to know that THIS MEETING is vitally important..Vernon has passed on, Billow & Butler have been engaged for quite a while, new corps/subsidiaries are forming faster than you can follow etc etc..and none of us shareholders really have any insight into where we stand at this point in time with our investment..it's all conjecture..Can't speak for you all but I could go for a little "hand holding" by my management team.. simply this "Here is where we are today, here's where we are going, this is when we expect to get there"..I sure hope you guys are right and they are sitting on a grandslam home run that is already teed up just waiting for ink to dry before release..but that still may be a fairly long way off...All comments, replies insults are welcomed....I'll be there- will try to take notes/bullet points of the salient moments which will no doubt include some of Jim's quotes from the Q&A !!!! I love to watch him during that part..Sometimes he's P.T Barnum, Sometimes he's the Lion Tamer, but he's always a trip to watch that's for sure...
It sure..
won't be on Thursday around 7:00 p.m. ( The silence is golden part I mean...) I wanna hear lots and lots of chatter with numbers, percentages,market projections, "weeks not years"...and "Down the stretch they come"...Pick whatever metaphor works for you...
ZZZZZZZZ.......
Wake me up next Thursday around 6:30..
Sound Fair???Make Sense..then we can chat ( hopefully with enthusiasm...
Leitrim
I agree ATL...
As I was thinking out loud in a previous post, They have already (in past filings) indicated that they were working with Cummins ( Deisel Engines and Electronic controls??) and had been pleased with DCI's interest and support in the Deisel transmission..I have to believe that this is the JV partners they are talking about in the last release..Like I said , is DCI going to let someone else make and market a superior performing (Milage and emissions)vehicle called Dodge Ram IVT Deisel??? If I'm way off base here, someone please bring me around..not saying there aren't more or other folks involved- I would really like to hear the "who what where when and how longs" at this year's meeting..GM is doing a dance with Torotrak and that's public..So who is our dance partner(S)..
All comments questions insults welcomed...
Leitrim
Dread:
<Give me a good, logical, strategically and commercially believeable game plan, and I'll be long forever.>
Yep..That says it all actually..This is CXO guys first Meeting as Management..Let's hope they don't disappoint in scope and or content..
One thing is clear..
That's for sure..this bad boy is not going to trade without a little juice in terms of news, real concrete announcement or plans at the Annual etc..we are going to drift along..I'm still hopeful that we are in "weeks not years mode" ( I'm guessing you too Dread???)
Regards
Leitrim
Dig:
Per your comment...<i thought as tovc shareholders we had bought into the benefits of ALL the company technology...>
That's how I would see it as well we aren't buying additional shares in a JV it would be carved out..atleast that's my take..I guarantee you if you sent to Jim G he'd respond to you or bring it up at the annual..someone will....
Regards
JD
So sorry for the oversight
there Dread, I loved it..It is way to appropriate for this investment..I miss that guy-every so often he would have one that was so weird or "out there" well, you'd laugh out loud- always started the day on a good note..It is a perfect signature for your role as moderator..
Regards
Leitrim