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Indianapolis Mayor Greg Ballard being duped and used by Echo Automotive stock promoters?

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February 05, 2013 – Comments (5)

Echo Automotive, a company with no revenue, $1.2 million in debt, and being promoted by penny-stock hypesters, appears to have found a useful rube in Indianapolis Mayor Greg Ballard. 

http://www.nbcnews.com/id/50704520

Perhaps the good mayor or his staff should take a look at the finances and motives of a capital-free company that purports to be a competitor against giant multinational firms with vast capital reserves.

Here's what Indianapolis Mayor Greg Ballard has become a part of, an email stock-hyping campaign that finishes up with the following disclosure:

"Providence has been compensated $75,000 by DH Media LLC for a one month advertising contract to build investor awareness for Echo Automotive, Inc. (OTCQB: ECAU) starting January 14, 2013. In addition, Providence expects to receive future compensation for the continuation of the advertising contract for minimum of two additional months at $75,000 per month for a total of $225,000. Thereafter, Providence will disclose any future compensation if such compensation occurs. "

Here's a link to a blog with a bit more history on the scammy-looking promotions associated with Echo Automotive. http://www.moneyscience.com/pg/blog/TheAlephBlog/read/454126/an-echo-but-not-sound

5 Comments – Post Your Own

#1) On February 05, 2013 at 10:08 AM, TMFBent (99.81) wrote:

Forgot to post the stock spam email sent including Mayor Gregg Ballard and Indianapolis:

 

Breaking News on ECAU!
Mayor of Indianapolis Test Drives EchoDrive� Hybrid Technology
Members,
It is official! Greg Ballard, the Mayor of Indianapolis, met with Echo Automotive executives this week to test drive an EchoDrive™ equipped Ford E-250 hybrid demonstration vehicle. The demonstration was an absolute success and we invite all members to watch the mayor drive the hybrid test vehicle by selecting the link below:
Watch the Mayor of Indianapolis Test EchoDrive™ to Rave Reviews
Members, here it is! Greg Ballard is the Mayor of the United States’ 11th largest city and recently signed an executive order in December requiring the city to replace its nearly 500 non-police vehicle fleet with electric or plug-in hybrid vehicles. New vehicles will be purchased as older vehicles are retired, and the City plans to completely transition its current 3,100-vehicle fleet to post-oil alternatives by 2025. Indianapolis already has been recognized by Toyota, Ford and the U.S. Department of Energy as one of the top communities for deployment of plug-in vehicles and charging stations with more than 200 charging stations installed across Central Indiana.
“The movement toward post-oil transportation technology is making considerable leaps. These advancements give us greater opportunity to reduce our dependence on foreign oil and strengthen our national security interests.” – Greg Ballard, Mayor of Indianapolis
And here is what the Mayor had to say about EchoDrive™ from Echo Automotive:
“There is a bridge and I always told people the plug-in is the bridge technology that can really get people accustomed to this… It’s Amazing!”
ECAU launched EchoDrive™ in late 2012, as a bolt-on easy-install system that converts existing fleet vehicles to electric assist, aimed at providing rapid return on investment through easily attainable cost-saving performance. Dan Kennedy, CEO of Echo Automotive commented on the Mayors EchoDrive™ test drive:
“The City of Indianapolis is a natural candidate for our technology. Indiana has led a long and rewarding relationship in the electrification of the automotive industry, so it comes as no surprise that local leaders are well informed and ready to embrace practical solutions aimed at delivering tangible results, especially within projected annual budget forecasts. We look forward to working with local civic leaders here in Indiana and in any other municipality looking for fiscally responsible solutions to reduce fleet operating costs with a system that offers a demonstrably meaningful short term return on investment.” – Dan Kennedy, CEO of Echo Automotive
Members, this is big news! If ECAU is able to land a deal with the city of Indianapolis, this could be the start of some major developments for Echo Automotive. We encourage all members to read today’s complete news release by selecting the link below:
Echo Automotive Provides Indianapolis Mayor with Hybrid Technology Test Drive
About Echo Automotive, Inc. (ECAU)
Echo Automotive, Inc. develops technologies and products designed for cost effective conversion of existing vehicles into highly fuel-efficient hybrids and plug-in hybrids. EchoDrive™ is the Company’s flagship product launched in late 2012 as an integrated hybrid system aimed at converting existing fleet vehicles to electrically assisted powertrains offering fleet managers an immediate low cost alternative to the high capital investment of relatively unproven, all-new electric vehicle designs. The key to Echo’s strategy is the bolt-on nature of its solution that introduces little or, in some cases, no additional points of failure, making it very low risk compared to competing solutions. To find out more please visit www.echoautomotive.com.
 
Sincerely,
The Bedford Team
The Bedford Report is owned and operated by Providence Media Strategies LLC (hereafter referred to as “Providence”).
THIRD PARTY ADVERTISER/ADVERTISING AGENCY. IMPORTANT NOTICE AND DISCLAIMER:
Providence is not a registered broker dealer or a registered investment advisor. No information accessed through the BedfordReport.com website or any newsletter constitutes a recommendation to buy, sell or hold any security in any jurisdiction. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein.
Providence has been compensated $75,000 by DH Media LLC for a one month advertising contract to build investor awareness for Echo Automotive, Inc. (OTCQB: ECAU) starting January 14, 2013. In addition, Providence expects to receive future compensation for the continuation of the advertising contract for minimum of two additional months at $75,000 per month for a total of $225,000. Thereafter, Providence will disclose any future compensation if such compensation occurs.
To view the full disclaimer please click the link below.

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#2) On February 05, 2013 at 12:38 PM, TMFBent (99.81) wrote:

here's their IR firm.

Investor Relations

David Waldman/Natalya Rudman
Crescendo Communications, LLC
Tel: 212-671-1020 x304
Email: ecau@crescendo-ir.com

Note that this firm has been involved with past "winners" such as:

http://finance.yahoo.com/q?s=SGLA&ql=1

http://finance.yahoo.com/q?s=VRSEF&ql=0

http://finance.yahoo.com/q?s=RGDEF&ql=0

http://finance.yahoo.com/q?s=STEV&ql=1

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#3) On February 05, 2013 at 12:58 PM, TMFBent (99.81) wrote:

Do you suppose that it is a coincidence that Echo Automotive (which has been the subject of direct-mail media campaigns hyping the stock) happens to share an address with a direct-mail advertising company? I suppose it could be.

http://takeactionmedia.com/contact.php

http://www.echoautomotive.com/about-us#location

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#4) On February 05, 2013 at 1:03 PM, TMFBent (99.81) wrote:

More good digging on the web about Echo Automotive, and its president, who's been involved with quite a few past concepts that have gone nowhere.

http://promotionstocksecrets.com/echo-automotive-inc-ecau-research-request/

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#5) On February 06, 2013 at 12:03 PM, chk999 (99.97) wrote:

The CAPS page for ECAU appears to be broken.

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