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- SPECIAL REPORT: Is Electric Motors Corp on the road to success? - 22 WSBT
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- Upcoming Interstate Exits At A Glance With The New iExit iPhone App - PRWeb
- Electric Car Maker Moving to Indiana - FOX News
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| SPECIAL REPORT: Is Electric Motors Corp on the road to success? - 22 WSBT Posted: 08 Jan 2010 10:18 AM PST WAKARUSA — It's been 2 months since Electric Motors Corporation announced plans to begin building light duty hybrid electric pickup trucks in Wakarusa and Nappanee by early 2010, creating up to 1,600 new jobs. Is that plan still on track? Is it realistic? WSBT sat down for an exclusive interview with EMC's CEO to find out. WSBT was the first to break the story of EMC's plans in May, confirming the Camarillo, Calif. based company's intent to begin production on the hybrid trucks by early 2010. Two months later, EMC CEO Wilhelm "Wil" Cashen, a Mishawaka native and Penn High School grad, says plans are still moving forward so well that vehicles could begin rolling off the assembly line in Nappanee in as little as 6-9 months. But, with no workforce hired or trained yet, no major manufacturing modifications completed, and no government backed funding in place yet, is Cashen's prediction just a hopeful dream? Maybe, he admits. But, it's one he still believes is about to come true. THE VISION "I've always been able to see the dream," Cashen told WSBT's Troy Kehoe, granting his first exclusive television interview in nearly two months. "Now, what I'm able to do is execute on the dream because of other people." And for Cashen, the dream couldn't be more clear. His vision is as far reaching and ambitious as they come. "I see an entire [electric vehicle] engineering and development complex, supplying products to the entire Elkhart community -- to all of the coach builders in town," he said. When asked if he believed it could happen, he didn't hesitate for a moment. "Oh, I know it'll happen," he replied. "I'm as excited as I've ever been. I'm ready to continue on and fight the fight ... fight the good fight ... fight for green jobs right here in America." It's a fight that began 2 months ago with the announcement that Electric Motors Corporation plans to begin building light and medium duty hybrid-electric pickup trucks in Wakarusa and Nappanee by 2010. The plan centers around a massive new tech park called the "Wa-Nee EMC Electric Vehicle Industrial Complex" near the now shuttered Monaco Coach plants just off State Road 19 in Wakarusa. The company's intent, he told community leaders, is to make Elkhart County the world leader in electric and hybrid-electric vehicle technology. The words brought hope to a community that's been devastated by job loss over the last 18 months. Among the details unveiled at the news conference in May was the intention to create as many as 1,600 new jobs by 2012. Some local leaders, including Congressman Joe Donnelly (D), Congressman Mark Souder (R), Senator Evan Bayh (D) and Senator Dick Lugar (R) estimated the impact could eventually reach as high as 6,000 jobs if EMC's plans succeed. Some immediately labeled Cashen's effort as the beginning of "the Detroit of the 21st century." But, was it all more hype than hope? "Everything takes a while to do," Cashen replied in answer to questions about the lack of visible progress since the announcement in May. "And everything that's good takes longer to do. What we're trying to do is do something, and do it a short amount of time, that's good and strong. So, our only answer can be that we're moving ahead." SIGNS OF PROGRESS There is now at least one major hurdle cleared. The former DeMartini RV showroom on State Road 19 at Nelson Parkway in Wakarusa -- shuttered as Monaco Coach closed down its factories nearby nearly 1 year ago -- is now owned by EMC. "We've purchased the building under a special relationship with stock and some other things," Cashen said. For now, it will serve as EMC's temporary headquarters, but in Cashen's vision it will be the "showroom" of the future, attracting buyers from across the country and around the world. "The main things about selling new vehicles is showing the vehicles. And so, we're going to be able to put our prototypes in here, and we'll also have vehicles that people can stop by and see the progress as we go along, and ask us questions," Cashen said. There's one vehicle that's already turned some heads, now sitting on the showroom floor. "This is the basic underpinning of, hopefully, one of the success stories EMC will enjoy," Cashen said as he pointed to a brand new 2009 Ford F-150 with a wide grin on his face. "There will be aerodynamic changes to the vehicle. It's going to have an under-pan. The treatment on the front of the vehicle will be changed. The wheels will be different. We have a very low rolling, resistant tire that we'll add. But, this is it," he said, still grinning. Of course, there is one thing missing: electricity. "We're going from a 5.4 liter engine to a 1.2 liter engine, and we have an electric motor which replaces the transmission area. And surprisingly enough, electric motors deliver more power in less space, as far a torque goes," Cashen said. And he says he'll prove it -- just not until September 4. That's when EMC plans to unveil its prototype engine inside the first prototype vehicle. "We'll be able to show them exactly what it is we deliver, and what our plans are for the future," Cashen said. All of those plans start with that engine. THE PROTOTYPE Livernois Vehicle Development, an engineering firm based in the Detroit suburb of Inkster, Mich., is now working on the final prototype of the EMC engine. Testing is now underway to ensure that EMC's patented drive system will run with no problems inside the chassis system of that F-150 truck. Indianapolis based battery supplier EnerDel is also on board to provide the power for the engine. "We are going to absolutely use them as our supplier. We are going to stay close here to home with these suppliers," Cashen said. Few suppliers are closer than Jordan Automotive in Mishawaka, who Cashen says will supply the chassis. "Jordan is the largest supplier of Ford chassis in the United States," Cashen said. "Right here in Mishawaka. It's an amazing thing. There's a lot of stories like that in Indiana, and that's the reason why we're here." Nappanee based Gulf Stream Coach will put it all together, using $10 million of its own money to retrofit part of its assembly line to handle pickup trucks instead of RVs. Then, there are the workers. EMPLOYMENT EXCITEMENT In the last 30 days, about a dozen administrative staff have been hired, Cashen said. "We came into the community and hired some key personnel," Cashen said. "That includes some administrative personnel and a trade school manager, as well as some interns from Notre Dame. We're going to have a continued relationship with Notre Dame based on a lot of their engineering studies that they currently have." They won't have to go far for any potential partnerships. Cashen also plans to open an EMC office in the still to be completed Eddy Street Commons development on Angela Boulevard across from the Notre Dame campus. But, it will take a lot more than administrators and interns to make Cashen's vision a reality. According to EMC's Corporate Communications Director Ralph King, the company has received nearly 4,000 applications for employment over the last two months. King and Cashen wouldn't comment on exactly when any of them might be hired, saying only that calls for interviews would go out as openings become available. However, Cashen did tell WSBT that an announcement about worker training opportunities would be made later this week. "We're building a trade school," he said. "Because, part of growing the area is training the area, and making sure people are on the ground with jobs." But, none of Cashen's plan will gets off the ground without money. Lots of it. THE FINANCIAL FIGHT According to Cashen, automakers Ford and Nissan and electric sports car manufacturer Tesla have received around $8 billion in total from the federal government in electric drive system based grants and loans over the last few years. EMC is asking for $300 million. "And actually, $300 million is our large number. For our first tranche, which is the same group [Ford, Nissan and Tesla] took the money from, we're only asking for $82 million," Cashen said. It is a massive discrepancy between the two. So, how can EMC expect to stay competitive? "We practice Google-nomics," replied Cashen, matter-of-factly. "And Google-nomics is really a level playing field to make it as simple as possible. If you go on a search engine, everyone is equal. You can have the world's largest company and the smallest company in the world side by side." "Sometimes, you can even have the smallest company at the top of the search and the largest on the fifth page. So, by doing that, by using those tools aggressively, it's going to position us in such a way that's much more unique than a lot of the companies that have here-to-for come and gone," Cashen continued. But, even that $82 million is no guarantee. Cashen says he participated in a five-hour conference call with the U.S. Department of Energy last week, furthering EMC's bid for grant and loan awards. Rep. Donnelly's office says EMC's application for those federal loans and grants is still moving forward. "There are four steps in EMC's particular loan process," wrote Donnelly Press Secretary Samantha Slater in an email to WSBT. The steps are as follows:
At last check, Slater said, EMC was in step 3. "The results of steps 2 and 3 are expected sometime this month, and then step 4 would begin, which also will take some time," Slater said. An Energy Department spokesperson confirmed to WSBT that the agency will announce $2 billion worth of "electric drive manufacturing grants" sometime in early August. But thousands of other companies will likely be competing for a slice of the same pie. The Energy Department would not comment on EMC's particular application, or on the company's chances of landing even a small sliver of the grant funding. There are also no guarantees from the State of Indiana either. In May, Governor Mitch Daniels (R) pledged $4.6 million to EMC in performance based tax credits, along with up to $200,000 in worker re-training grants. But that money hasn't moved into EMC's accounts. "We have not yet received applications for the training grants of tax credits from EMC," said Indiana Economic Development Corporation spokesperson Blair West. Elkhart County Economic Development Corporation CEO Dorinda Heiden-Guss says that process can also take time. "There's a long application process," she told WSBT. "Ultimately, it will be up to the company to meet the demands of those grants before any money is given." So, what happens if no money is given? PUTTING PLANS INTO MOTION Would EMC still move forward with plans to build "the pickup truck of the future" if that federal and state funding doesn't come through? "Well, yeah, of course we do," replied Cashen. "You know, we've taken a lot of time to develop our company, my partners and I. Our company is a public company." "We planned on doing a big thing when we came here. I didn't need to do a small thing. I've done plenty of those things. I've been blessed. I live in Malibu, and I've been able to do all those great things. Because of that, we plan to have a serious company and come here with our mind set of having success," Cashen continued. But even if the money and the workers are there with little extra effort, getting from "drawing" to "driving" won't be easy. Experts say there will be other questions that could ultimately determine EMC's fate. CASHING IN ON COMPETITION Cashen maintains that all the answers to a successful automobile manufacturer have been right here all along. "All of Elkhart County in the motorhome business, the truck up-fitting business -- even right down the street at Utilimaster -- they have always purchased chassis or the actual underpinnings of their vehicles and up-fit those vehicles with whatever custom bodies they have. So, we're doing really no different than what's always been done here," he said. But, experts say that doesn't answer the question that could ultimately determine EMC's fate on the open market. "Are they going to be competitive?" asked Dr. David Cole, former University of Michigan engineering professor and current Chairman of the non-profit Center For Automotive Research in Ann Arbor, Mich. "That's pretty tough. Because, it's an extremely competitive market. This is really fast company that you're in." Dr. Cole points to Tesla, one of the original pioneers in electric vehicle manufacturing, as an example of the uphill battle that may lie ahead. "Tesla has been moderately successful because it targets a niche "high end" market in sports cars. But, when you start getting down into the mid-market and lower-cost market where you have volume, that's a real trick to be able to do that competitively. That's where you run into the heavy duty competition, and that competition is ferocious," Cole said. Chief among the unanswered questions for Cole: What will the truck cost and who might buy it? For his part, Cashen won't talk specific numbers yet. But he will talk "hope." At the top of his "wish list" are utility companies. Cashen believe they could take advantage of the hybrid-electric truck's on-board battery packs to supply crews with on-demand electricity during an outage. But Cashen likely won't be making that pitch alone. Troubled automaker Chrysler is also trying a new electric route, hoping to deliver hundreds of hybrid trucks to the U.S. Postal Service. Ford, Nissan, Tesla, and other established manufacturers are also now in talks to develop larger hybrid SUVs, and GM's Chevy Volt sedan is due to hit showroom floors in 2010. And, to make the market just a little more crowded, Cole says it won't be just other hybrids that EMC will have to fend off. "What the hybrid runs into in the somewhat larger vehicles is the diesel and the diesel fuel economy," Cole said. "The hybrid fuel economy is roughly what the diesel fuel economy is -- in the area of 25 to 30 percent. Can you sell a premium priced fuel efficient vehicle when there's cheap fuel available? The answer is -- probably not." MARKETING MYSTERIES EMC doesn't have a dealer network currently in place. So, how will potential buyers find EMC? "There will be a lot of folks that fly in here to look at vehicles," Cashen said. "We may buy airline tickets for them to come here and buy a vehicle from us. Anything to help the customer feel comfortable with the purchase. They'll research, buy, then we deliver, and they get it serviced locally." "The truck will say EMC on the back and we'll have our own warranty program. It will have the exact same warranty process that Ford has now, but they'll be serviced through EMC dealers and also through our facility here [in Wakarusa]," Cashen continued. Still, there are some who feel decidedly uncomfortable about the uncertainty of a timeline that sets all of this for completion in 9-18 months. "If this were a company coming to me with a business plan, I'd probably scratch my head a little bit, thinking -- can you really pull this off?" said Greater Elkhart Chamber of Commerce Vice President of Business Development Kyle Hannon. "It's certainly not traditional. But, at the same time, it is refreshing to hear an aggressive timeline." Cashen says his business plan is anything but traditional. "It's not what we do. It's what we help to cause to happen," Cashen said. "They have the facilities. They have human resources. They have everything you need to start manufacturing. We're providing the engine, and trying to do as much as we can off shelf." "To bring a new car through manufacturing and bring it to market is about a two year process. What we're doing is accelerating all that to have the vehicle on the road in 18 months, completed," Cashen continued. When asked if he still believes that's possible, Cashen gave an immediate reply. "I absolutely do. No doubt," he said. And there are others that now share Cashen's sense of optimism. THE ROAD TO SUCCESS? "I certainly do [believe EMC's plans are still on track]," said Nappanee Mayor Larry Thompson (R). "I believe it more almost every day now. There were times in those first few months where it just seemed like it was almost too good, or too big, or why is it here? "But, as we went to Detroit and Indianapolis and Washington, things started to come together. And, it just looks to me like all the pieces really are coming together now." And Thompson says his community is excited, too. "We've got the workforce here. They're just chomping at the bit to get back to work. And, we think this could very well be the big one for us to put our neighbors, friends and relatives back to work, without really changing our community," he said. In fact, Thompson says change could come from within. "I see these motors and engines sliding into mid-size trucks and then motorhomes. I see this being the perfect fit for our area, and I think we're very, very close to making it happen," he said. "Is it going to be difficult? Well, most good things are," said Hannon. "But we have skilled workers who were making one type of product, and the training might not be that extensive to get them to make another. That may make it more realistic. And, you don't want to say, well, this will never work. Because, this might!" Cashen wants to prove that to those who doubt it can. THINKING GREEN Electric Motors Corporation will open the doors of their brand new headquarters on State Road 19 at Nelson Parkway in Wakarusa to the public on Thursday, July 23 to host to a "Green Summit" that will feature input from internationally recognized environmental experts. Featured speakers at the free, day-long event include: -Scott Truex, Director of Ball State University's Green Summit Initiative Cashen will be the keynote speaker at the event, and says his words will focus on one simple concept. "We'll be talking about the basic components of being green, and why making those changes is not just specifically survival. It's just kind of the way the community has always been. It's uniting as a community to make a change that's not really that hard," Cashen said. "I've always been able to see that dream. And, now what I'm able to do is execute on the dream because of other people," he continued. Then, looking out at the setting sun behind his business' newly purchased Wakarusa home, he smiled. "This community is coming together for the community, for jobs, for a better quality of life," Cashen said. "That's what we plan to bring. And I know it'll happen." Five Filters featured article: Chilcot Inquiry. 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| Bank of America Merrill Lynch Rated No. 1 for Online Customer Service ... - Yahoo Finance Posted: 08 Jan 2010 09:35 AM PST CHARLOTTE, N.C., Jan. 8 /PRNewswire/ -- Bank of America Merrill Lynch has been rated No. 1 for online auto finance customer service by a leading industry publication – a testament to the bank's success in quickly and easily delivering personalized information to potential car buyers. (Logo: http://www.newscom.com/cgi-bin/prnh/20090812/CL60095LOGO ) Auto Finance News ranked Bank of America Merrill Lynch's auto eLending Web site the best among those operated by the nation's top 20 auto finance companies. The trade publication reported in November that it tested the sites as a potential car buyer, grading each on ease of finding information, speed, personalization, usefulness and resourcefulness. "Our auto eLending site sets the standard for quickly providing customers with the information they need, including straightforward loan information," said Joseph Decker, eLending National Sales manager. "This ranking confirms the success of our process and our commitment to meeting customers' needs in a timely manner." The Nov. 23 report by Auto Finance News highlighted a confirmation e-mail sent by Bank of America Merrill Lynch as an example of good service. By telling buyers that the bank would research an answer and respond within 24 hours, the e-mail created a sense of urgency for the request, the report stated. Bank of America Merrill Lynch also achieved the highest possible score for response speed. Part of the bank's Dealer Financial Services unit, eLending is a direct-to-consumer online lending channel that provides customers with information and resources for buying or refinancing an auto, RV or boat. Bank of America Merrill Lynch is one of the largest bank providers of commercial and retail financing for auto, RV and boat dealers and consumers in the U.S., with more than 10,000 dealer clients and nearly $50 billion in consumer and commercial loans. Dealer Financial Services provides retail loans directly to consumers through eLending as well as indirectly through dealers. For dealers, the bank provides a full range of commercial banking services, including financing for real estate construction and acquisition, dealership acquisition, new and used floor plan, working capital, equipment leasing and letters of credit. Bank of America Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company's corporate and investment banking, and sales and trading businesses operate under the Bank of America Merrill Lynch brand. Bank of America Merrill Lynch focuses on middle-market and large corporations, institutional investors, financial institutions and government entities. It provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, research, and liquidity and payments management. Bank of America Merrill Lynch serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and nearly 96 percent of the Fortune Global 500. Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Upcoming Interstate Exits At A Glance With The New iExit iPhone App - PRWeb Posted: 08 Jan 2010 08:31 AM PST What if you knew at just a glance that an upcoming exit had a favorite restaurant, hotel, gas station and store? Maybe you would hold out a little longer to combine stops and enjoy it more. Santa Fe, NM (PRWEB) January 8, 2010 -- Have you ever gotten off at an interstate exit only to later realize a much better one was a few miles down the road? If so, there's now an iPhone app that makes sure that never happens again. Or maybe you know that you can drive another 60-100 miles before stopping for food, gas and some sleep but you don't know if you can do it all comfortably at one exit. Now you can. Many GPS systems make travelers search for one thing at a time. Gas. Food. Lodging. Supermarket. It can be tedious. It can also be difficult to find and search for other towns that may be two hours down the highway. The driver may not be able to carry the car GPS unit inside a restaurant and plan the road ahead. And one can't just push a button and call the establishment to ask about hours or make a reservation. Travel website Allstays.com, in partnership with Atlanta-based software company Metrocket, has created iExit, a interstate-based travel guide iPhone app that takes care of all those issues. And it is already available in Apple's App Store at a reduced introductory price. It contains over 200,000 points of interest that range from the obvious like gas stations, restaurants and hotels to gourmet grocery stores, auto services and RV repair centers. More details can be found at http://www.iexitapp.com iExit informs users which points of interest are coming up when driving on interstates in the continental United States. Using the iPhone's location, iExit determines what points of interest are coming up and displays them in several user-friendly formats. Users can see all upcoming exits in either a list view or map view. Users can also create a list of "favorites" and only watch for those places. You can also easily call most places listed in the data. "I personally like knowing where the next Chick-fil-a is when I'm on the interstate," says Metrocket founder, Evan Metrock. "iExit is designed to give me this information within seconds of loading up without a press of a button." iExit stores its data locally on the iPhone, meaning it works even when the phone has no AT&T service. It also supports an offline mode that allows users to lookup points of interest at any exit on any interstate. This allows you to plan the road ahead in an easier way than ever before. AllStays.com, a ten year old travel website with a focus on road travel, is trying to make it easier to enjoy the journey itself. "We've had data like this available on the website for years but it was always static. You had to look up where you were and where you were going," explains Adam Longfellow, founder of Allstays.com. "Because of the iPhone's location capabilities, we now have the ability to deliver precisely what users want to know at both their current and future locations." Pricing & Availability Additional Information AllStays.com, based in New Mexico (US), lists all kinds of lodging, from primitive campgrounds and RV Parks to luxury hotels and spa resorts. AllStays also links directly to official websites to make sure you have the real scoop on the latest and most accurate information. Metrocket is a software development company in Atlanta, GA specializing in iPhone and web development and is found at http://www.metrocket.com. AllStays.com ### Post Comment: Bookmark - Del.icio.us | Furl It | Technorati | Ask | MyWeb | Propeller | Live Bookmarks | Newsvine | TailRank | Reddit | Slashdot | Digg | Stumbleupon | Google Bookmarks | Sphere | Blink It | Spurl Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Electric Car Maker Moving to Indiana - FOX News Posted: 08 Jan 2010 06:36 AM PST An electric car maker plans to open a factory in a northern Indiana plant that once made parts for recreational vehicles. State and local officials planned to join executives from Think North America for an official announcement Tuesday. The plant in Elkhart will be Think North America's first in the U.S. and provide much-needed jobs in a city that has been struggling since the RV industry collapsed during the recession. Think North America, a subsidiary of Norwegian-based Think Global, projects its new factory could have 415 full-time jobs by 2013. Think Global currently makes its compact, two-door electric passenger cars at a plant in Finland. The company began looking in Elkhart after negotiations broke down last week with the owner of a property in the nearby town of Middlebury, said Tom Kemeny, Think North America's chief financial officer. The Elkhart City Council gave initial approval Monday night to a 10-year tax abatement plan for the company. Gov. Mitch Daniels was to take part in the formal announcement Tuesday afternoon at the former facility for Philips Products, which made doors and windows for the RV industry. That plant, which had about 250 workers, closed last summer. Barkley Garrett, the city's economic development director, said city officials worked through the weekend to complete the deal with the company after it ended talks for the Middlebury site. "We're not poaching other communities' projects," Garrett said. "We knew our site was a backup site. We were not involved in negotiations until they contacted us." Two other companies are working on plans to make electric vehicles in nearby Wakarusa. Navistar International Corp. plans to build all-electric delivery trucks this year with a $39 million federal grant. Startup Electric Motors Corp. intends to make electric-hybrid drive trains to be installed in various vehicles, starting with a joint venture with Gulf Stream that would make light-duty electric trucks. Elkhart County's unemployment rate peaked in March at 18.9 percent but has fallen steadily since, hitting 14.5 percent in November. "I don't think it makes any difference who gets this company or where they go as long as they go in Elkhart County," County Council President John Leatherman said. "What we're trying to build here is an electric car cluster, which is really a new diversification for this economy." Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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