request for vote: new numbers and plan

[Bob McAloon]

Hello all,

    I did some number crunching of my own finances and I am in... I 
understand we missed out on the cardinal but I'd be interested in another or 
even a 172/182 of the same quality. Thanks for keeping me in mind...

Bob


----- Original Message ----- 
From: "Bob McAloon" <robertmcaloon at comcast.net>
To: "Eagle East Flying Club Core Team" <eefc-core at workingcode.com>
Sent: Monday, May 25, 2009 9:05 AM
Subject: Re: request for vote: new numbers and plan


> Hi everyone,
>
>    Sorry for the late response... I just got back from a golfing trip this
> morning. I'm very interested and just need today to think about a couple
> things before I give you a definate answer. Mike if you go to the link Jim
> sent and click on where the picture should be a new window opens with
> pictures. It's a very nice looking plane. You'll be hearing from me later
> today with definate answer.
>
> Thanks, Bob
>
>
>
> ----- Original Message ----- 
> From: "James Carlson" <carlsonj at workingcode.com>
> To: "Eagle East Flying Club Core Team" <eefc-core at workingcode.com>
> Sent: Thursday, May 21, 2009 9:16 AM
> Subject: request for vote: new numbers and plan
>
>
>> Todd and I have been discussing financing issues off-list.  Attached
>> is a spreadsheet based on Steve's, but with a number of modifications
>> based on that discussion.
>>
>> We would like to request opinions from each of the core team members
>> (even those who are presently planning to go another direction).  The
>> proposal looks like this:
>>
>> No buy-in cost
>> $175/month with 12 members
>> $70/hour wet
>> Cessna Cardinal 177B, brand new engine and interior
>>
>> Please provide a "yes" or "no" answer, indicating whether this is the
>> sort of club you'd be willing to join.  If you'd like, you might also
>> offer commentary on the plan itself or on any of the details, but the
>> important part is the reality check, and a straight up/down vote will
>> provide that.
>>
>> The plane is the same one that Bob previously mentioned.  A current
>> link (as it has expired off of controller.com):
>>
>>  http://www.primoairplanes.com/media/specs/N991MP.htm
>>
>> Here are some details on the numbers and what we'd expect for the
>> club:
>>
>>  - The long pole in the tent is the fixed annual cost.  Even if we
>>    could get a free airplane to run (and thus have zero note
>>    payment), it'd still be $125/month with 12 members and $215/month
>>    with 7.  To get anywhere, we need to address that cost, and not
>>    fixate on the plane or the bank.
>>
>>  - The other really serious issue is the number of club members.  Ten
>>    members per plane seems to be the breakpoint for several things;
>>    below that level, the monthly dues are too much, and above that
>>    level, insurance suddenly becomes too high.
>>
>>  - As the club pays down the debts, it'll accumulate capital.  We
>>    need a fair way to apportion equity so that if someone wants to
>>    leave, we can pay that back to the departing member and still have
>>    a functioning club.  The mechanics of how that would operate are
>>    to be determined later.  (And in theory you could have non-note-
>>    paying / non-equity members in the future; I'd leave that out of
>>    the charter for now.)
>>
>>  - The numbers are intentionally high.  We may well be able to lower
>>    costs later.  But that's a good position to be in.
>>
>>  - The spreadsheet updates include putting everything on one page,
>>    gathering together all the input variables, adding membership
>>    sensitivity details, adding next-$5 round-up on dues and rates,
>>    computing break-even versus rental, derating for tach versus Hobbs
>>    hours, parameterizing oil and other costs, allowing for both
>>    SMOH-to-TBO overhaul capture as well as an initial reserve fund
>>    (to offset for a plane with high SMOH), and allowing private plus
>>    bank financing.  If anything's confusing, let me know, and I'll
>>    explain.
>>
>> -- 
>> James Carlson         42.703N 71.076W         <carlsonj at workingcode.com>
>>
>>
>
>
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