Northwest Indiana Discussion

Well said!

The folks who got smart and saved Crown Point the final $120,000 of the $500,000 Plasmatronics loan were the board members of the Crown Point Development Corp. In December, 2007, they replaced Kevin Keough on the CP Develeopment Corp. board with City Judge Kent Jeffirs. Then, Jeffirs, Van Sessen and Katz - being a majority of the board - revoked Eric Hammond and Rob Gardiner's power to sign checks on the CP Development Corp. bank account.

The Crown Point Redevelopment Commission, led by Bob Corbin and chaired by Rob Gardiner voted that night to set up another corporation to loan Plasmatronics the remaining $120,000. But that was illegal and never happened.

The question is: Why was Corbin & friends so eager to push the remaining $120,000 out the door?

That is a good question. Another good question would be why has there not been an investigation into this? Why are these two bozo's still in power? Why doesn't the current administration look into this deal a little closer and then call the states attorney? Or, are we all just idiots who can't accept that these liars can do whatever the hell they want with taxpayers money, even potentially profit themselves by the deals they pass and make.

the current administration isn't going to call the AG because they don't want any future scrutiny. believe me, losing $350,000 is a drop in the bucket as to what Uran will cost the taxpayers. and for public oversight, corbin is right along with program. i see he's fully supporting the democrats with his visclosky sign in his yard.

If your all so concerned about where your money goes- Why do you keep electing liberal socialist politicians who keep confiscating your property (wealth) through a bunch of nefarious tax laws that NO one can understand much less ever successfully comply with and then redistribute it to people who only vote for democrats?

The waste by Corbin & Co. of $380,000 of the tax dollars of the widows and orphans of Crown Point is still more deplorable when you realize that Crown Point had to borrow money to even pave the streets this fall.

Crown Point had to borrow money because Corbin, Klein and Wolter ran as much money as they could down the sewer during the final months of the Klein administration.

The newpapers report that Plasmatronics filed a countersuit against Crown Point.

Plasmatronics claims that Crown Point made it impossible for them to succeed by delaying the release of their loan money and demanding that they present tests showing that their fuel saving device actually worked.

It is troubling that Plasmatronics says they turned 1) their balance sheet, 2) their income statement, and 3) evidence that the device greatly improved fuel efficiency over to Crown Point Consultant Greg Guerrettaz but did not have a copy for the Crown Point Development Corporation.

This, in spite of an order by the Indiana Public Access Counselor, Heather Willis Neal, that Plasmatronic's documents be turned over to the Crown Point Development Corp.

Crown Point Development Director Eric Hammond, who signed the check and turned the $380,000 of Crown Point money over to Plasmatronics, is no longer in Crown Point and nowhere to be found.

Consultant Greg Guerrettaz says he destroyed the documents.

What happened to the $380,000 that Plasmatronics received?

Something is rotten in the state of Denmark - or Crown Point. (appologies to Hamlet).

You know, the sinster part of me suspects that Plasmatronics did indeed turn over the info as requested.

If they had not, why is this guy in hiding and cannot be located?

This is like knowing a car crash is about to occur, you do not want to watch, but you cannot turn your head away

I hear he's in the witness protection program after turning evidence over in regards to Daniel M Klein past mayor.

Klein and Blago have much in common.

Word is that Crown Point has to borrow the money to buy enough salt and to pave the streets.

Corbin should be publicly flogged for pushing $380,000 out the door to Plasmatronics without ever checking them out and against the advice of the consultant. Corbin and Co. should repay the money they wasted through gross negligence or worse.

If Crown Point cannot afford to buy salt, then why are wanting to purchase a new building from developer Bob Rossman for millions of dollars to put the police into a new facility?

It couldn't be because Uran owes Rossman for campaign donations and the cops for votes?

[url=http://nwitimes.com/news/local/lake/article_f540fc79-b67d-5345-a5d4-ceea7ac78e53.html]Official: Scrutinize Plasmatronics

C.P. agency member says city might able to recover more from loan[/url]

Kathleen Quilligan - kathleen.quilligan@nwi.com, (219) 662-5331 | Posted: Tuesday, October 20, 2009 12:00 am


CROWN POINT | A member of the Crown Point Development Corp. wants additional investigation into the finances of one of the guarantors of a $380,000 loan the city is seeking to recoup.

Last week, Development Corp. member Allan Katz e-mailed the group's president, Sarah Poleman, asking her to support further scrutiny of Plasmatronics PLC before accepting a proposed settlement of $120,000.

City Attorney David Nicholls and attorneys with Ice Miller LLC, an Indianapolis-based company representing the Development Corp., declined to comment on the matter Monday.

Plasmatronics Inc. received an economic development loan from the Development Corp., a public agency, to locate its plasma engine manufacturing business in the city, but Crown Point and the company have since terminated the business relationship. The development group is suing the company and its guarantors to recover the $380,000 in incentive loan money.

Katz said the Development Corp. is being urged to consider the settlement because Plasmatronics is near bankruptcy. However, Plasmatronics PLC makes parts for Porsche, and Katz said 2008 bank statements from the guarantor indicate the company receives an average of about $40,000 a month from Porsche. Katz said Monday it would be "irresponsible" not to examine the company more closely if there's a possibility to recover more than $120,000 of the loan.

Katz also said in the e-mail that the Crown Point City Council considered at an executive session cutting off payment for the Development Corp.'s legal expenses and suggested the corporation should settle for the $120,000.

Council members have declined to comment on the matter.

Katz estimated the city has spent more than $100,000 on legal fees for the case.

In his e-mail to Poleman, Katz said he thinks there are at least two Crown Point law offices that would represent the corporation on a contingency fee basis.

"Frankly, I would prefer attorneys that don't file lawsuits and make settlement offers in the board's name without our knowledge and that don't threaten to quit if we choose to act in accordance with our convictions," Katz's e-mail stated.

Good Lord! Porsche has been the one car company that has been immensely profitable the last couple of years. I googled "Porsche Profits". They made over $10 Billion last year. If Plasmatronics is supplying parts to Porsche, they certainly should be able to repay Crown Point's loan in full.