Well, not exactly. My understanding is he only had the 50 prototypes, and
was trying to take cash orders and franchise fees from dealers to raise the
money to go into production, and the SEC took the attitude that this wasn't
any different from a Ponzi scheme. I'm not saying they were entirely
unbiased, or that the Big Guys didn't do everything they could to thwart him
overall, but financially he wasn't really in any condition to deliver what
he promised.
on 12/18/03 4:35 PM, Harold Pulcher at pulcher@killercomputing.com wrote:
> I was under the impression that the only reason the SEC was investigating
> him was due to the Big Auto guys helping the SEC see the need to investigate
> him. I am sure at the time the Big Guys(GM,Ford,etc...) probably didn't
> want to spend the money in retooling and the such to offer a product that
> would compete.
>
> Just my thoughts,
> Harold
--
Max Heim
'66 MGB GHN3L76149
If you're near Mountain View, CA,
it's the primer red one with chrome wires
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