More Darana/IHRA news (19 Viewers)

none said:
There's no new information in that. It looks like the reporter simply read the complaint and wrote a story about it.
I'm waiting to hear what the response from Darana/Darryl is. That should be interesting.
Here's the complaint, I think it's worth the read.

Alan
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meanwhile the lawyers are all licking their chops, lol.
 
I say both lawsuits get dropped and they each go their own way. Darryl is very comfortable and Elon has to much money to be challenged.
Darryl has way more to lose and as of right now he supposedly paid cash for everything except Maple Grove and Memphis. So he has quite the land portfolio.
 
ironpony said:
I say both lawsuits get dropped and they each go their own way. Darryl is very comfortable and Elon has to much money to be challenged.
Darryl has way more to lose and as of right now he supposedly paid cash for everything except Maple Grove and Memphis. So he has quite the land portfolio.
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Atlanta is not in his or his business name. Still old? Owners
 
ironpony said:
I say both lawsuits get dropped and they each go their own way. Darryl is very comfortable and Elon has to much money to be challenged.
Darryl has way more to lose and as of right now he supposedly paid cash for everything except Maple Grove and Memphis. So he has quite the land portfolio.
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Very interesting take, you might be right when the smoke clears.
 
If I believed I was owed $570 Million I wouldn't walk away.

If I believed someone had defrauded me out of $800 Million I wouldn't walk away.

I wouldn't want the world to think they could rip me off and I wouldn't fight back. On either side.

Alan
 
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ironpony said:
I say both lawsuits get dropped and they each go their own way. Darryl is very comfortable and Elon has to much money to be challenged.
Darryl has way more to lose and as of right now he supposedly paid cash for everything except Maple Grove and Memphis. So he has quite the land portfolio.
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I was told there is still a big payment owed on VMP by November 1st. If not paid, the Franklins retain ownership and keep whatever they have received from Darryll already
 
none said:
If I believed I was owed $570 Million I wouldn't walk away.

If I believed someone had defrauded me out of $800 Million I wouldn't walk away.

I wouldn't want the world to think they could rip me off and I wouldn't fight back. On either side.

Alan
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Assuming based on what I have read Darryl over billed and Elon hasn't paid, call it a wash and move on.
 
handsome said:
I was told there is still a big payment owed on VMP by November 1st. If not paid, the Franklins retain ownership and keep whatever they have received from Darryll already
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The all cash is getting a lot of holes poked in it. I hear Atlanta too. Maybe all cash down with a balloon due ??? We shall see.
 
ironpony said:
Assuming based on what I have read Darryl over billed and Elon hasn't paid, call it a wash and move on.
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You might be right Ken, but I want to read Darana's response to the suit.

And I'm trying to wrap my head around $800 million overbilling on a $1.4 billion contract. I'm a "Do the Math" kind of guy, and I can't figure how that slipped by for so long. Forget the zeros, if I'm paying $140 and being over charged by $80, (meaning that I was expecting to pay $60), I'm gonna notice that pretty damn early. Any bill that is more than double what it should be is gonna get flagged and it won't take over a year.

Alan
 
Jim said:
I am not sure SpaceX shareholders, analysts, and the SEC would be happy with a move like that. It's not Elon's money anymore.
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If I read correctly the contract was before they went public ?? might be a grandfathered in situation ?? but yes people will want paid.
 
ironpony said:
If I read correctly the contract was before they went public ?? might be a grandfathered in situation ?? but yes people will want paid.
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The contract may have been from before SpaceX went public, but the revenue would still go to the corporate bottom line. Any write-off would also be charged to the bottom line.
 
none said:
If I believed I was owed $570 Million I wouldn't walk away.

If I believed someone had defrauded me out of $800 Million I wouldn't walk away.

I wouldn't want the world to think they could rip me off and I wouldn't fight back. On either side.

Alan
Click to expand...

I would feel about the same too...but, you can't get blood from a turnip, and I admit I'd have a hard time accepting that.

Along with Darana's response, it will be interesting to see if payment and/or performance bonds were posted, and if either side has their own insurance against losses/theft.
 
none said:
You might be right Ken, but I want to read Darana's response to the suit.

And I'm trying to wrap my head around $800 million overbilling on a $1.4 billion contract. I'm a "Do the Math" kind of guy, and I can't figure how that slipped by for so long. Forget the zeros, if I'm paying $140 and being over charged by $80, (meaning that I was expecting to pay $60), I'm gonna notice that pretty damn early. Any bill that is more than double what it should be is gonna get flagged and it won't take over a year.

Alan
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Sounds about normal for the Feds, LOL.

But yeah, I'm like you in that regard, I'd be paying much closer attention if I could (or expect my accountant to).
 
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