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<p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Hi
Mike – just a comment on how we end up on the 976 deal at the end. That has not
yet been determined. I’ve asked Sean to get Tim to be specific about what
happens at the end of the note. He thinks Tim would likely propose a buyout $$$
number – something like a lease deal where you have an option to buy the car at
the end of your lease. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></font></p>
<div>
<div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'>
<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
font-family:"Tahoma","sans-serif";font-weight:bold'>From:</span></font></b><font
size=2 face=Tahoma><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>
eefc-core-bounces@workingcode.com [mailto:eefc-core-bounces@workingcode.com] <b><span
style='font-weight:bold'>On Behalf Of </span></b>mike.lysik@comcast.net<br>
<b><span style='font-weight:bold'>Sent:</span></b> Tuesday, April 07, 2009 5:29
PM<br>
<b><span style='font-weight:bold'>To:</span></b> eefc-core@workingcode.com<br>
<b><span style='font-weight:bold'>Subject:</span></b> Re: Agenda for Wed
evening<o:p></o:p></span></font></p>
</div>
</div>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<div>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>Liability insurance is a good
topic, and a lawyer should be consulted. Maybe someone knows a lawyer
that would offer to help. A friend at work belonged to a flying
club/group at one time, and they had a policy on the plane(in the situation
where it damaged something or someone), and then each member had his/her own
add-on policy if they wanted or needed extra coverage. The extra coverage
was on their own dime.<o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>For tomorrow night...I think that
if we each bring any necessary fixed or variable costs that we don't yet
have, and then work them into the spreadsheet, we'll have a pretty good
understanding of what it will cost to run the club. Then we can
start communicating with the others that are interested. Buying vs.
leasing from Eagle could also be brought to the entire group while we show the
pro's and con's of each.<o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>I may not be able to make it
tomorrow night, would someone be able to bring the spreadsheet with
Steve's updates, maybe on a laptop so you can make changes on the fly?<o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>It may be too early, but I'm a
little hesitant on the Eagle deal because the club doesn't end up owning the
plane after paying Eagle's note.<o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></font></p>
<p style='margin-bottom:12.0pt'><font size=3 color=black face=Arial><span
style='font-size:12.0pt;font-family:"Arial","sans-serif";color:black'>Mike<br>
----- Original Message -----<br>
From: williammccann@comcast.net<br>
To: "Bob Irving" <rhirving@verizon.net><br>
Cc: eefc-core@workingcode.com<br>
Sent: Tuesday, April 7, 2009 5:01:40 PM GMT -05:00 US/Canada Eastern<br>
Subject: Re: Agenda for Wed evening<o:p></o:p></span></font></p>
<div>
<div>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>Bob - I did a little research on
the Garmin 430W GPS, /nav/com with Glideslope and moving map.Pricing is about
$8,100.00 and around $2000 to install. The cost for an annual is more like $
2200.00 , so maybe we can hold Eagle @ the $1500 estimate.Purchase
options and length of lease are addressed .Can you ask Tim if the
current lien-holder allows sub - leasing of their aircraft. Also, is
the pilots liability insurance included in the $4500.00 fixed cost or
should the individual be responsible to carry additional renters insurance. Does
anybody have any objections to a $ 250.00 initiation fee and a returnable $
250.00 security deposit required when joining the club.<o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>Thanks<o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>Bill McCann<o:p></o:p></span></font></p>
<p style='margin-bottom:12.0pt'><font size=3 color=black face=Arial><span
style='font-size:12.0pt;font-family:"Arial","sans-serif";color:black'><br>
----- Original Message -----<br>
From: "Bob Irving" <rhirving@verizon.net><br>
To: toddmbs@yahoo.com, williammccann@comcast.net, "mike lysik"
<mike.lysik@comcast.net><br>
Cc: eefc-core@workingcode.com<br>
Sent: Tuesday, April 7, 2009 1:57:48 PM GMT -05:00 US/Canada Eastern<br>
Subject: RE: Agenda for Wed evening<o:p></o:p></span></font></p>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:
"Calibri","sans-serif";color:#1F497D'>Todd – I agree that “there is owed more
on it than it is worth.” So – I have asked Sean to get Tim to specify the
deal and I have asked them if they would be willing to do an avionics upgrade,
a fresh annual and an IFR certification – all before we take over. I’ve
also asked for a specific residual number or buyout fee once the note is paid
off. 976 may not make sense financially when compared to the option of
buying something. But buying something presents a whole new set of
issues. </span></font><font color=black><span style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face="Times New Roman"><span style='font-size:12.0pt;
color:black'> <o:p></o:p></span></font></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:
"Calibri","sans-serif";color:#1F497D'>Tim is out of town but Sean promises to
get back to me. We’ll see. </span></font><font color=black><span
style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face="Times New Roman"><span style='font-size:12.0pt;
color:black'> <o:p></o:p></span></font></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:
"Calibri","sans-serif";color:#1F497D'>Bob</span></font><font color=black><span
style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face="Times New Roman"><span style='font-size:12.0pt;
color:black'> <o:p></o:p></span></font></p>
<div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><font
size=2 color=black face=Tahoma><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";
color:black;font-weight:bold'>From:</span></font></b><font size=2 color=black
face=Tahoma><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";
color:black'> toddmbs@yahoo.com [mailto:toddmbs@yahoo.com] <br>
<b><span style='font-weight:bold'>Sent:</span></b> Tuesday, April 07, 2009 1:11
PM<br>
<b><span style='font-weight:bold'>To:</span></b> williammccann@comcast.net;
'mike lysik'; Bob Irving<br>
<b><span style='font-weight:bold'>Cc:</span></b> eefc-core@workingcode.com<br>
<b><span style='font-weight:bold'>Subject:</span></b> RE: Agenda for Wed
evening</span></font><font color=black><span style='color:black'><o:p></o:p></span></font></p>
</div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face="Times New Roman"><span style='font-size:12.0pt;
color:black'> <o:p></o:p></span></font></p>
<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0>
<tr>
<td valign=top style='padding:0in 0in 0in 0in'>
<div id=yiv11814067>
<div id=yiv1980941400>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>Gentlmen,<o:p></o:p></span></font></p>
</div>
<div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>I have to say
that this may the fastest combined effort that I've seen on
anything in a long time. This is great, I like what I'm seeing.<o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>I would say that
having an agenda is definitely needed at some point. We should
probably develop a time line and goals to expect. Things will be
defined the further we get obviously. At the minimum, what we have
right now for certain is 7 pilots hho want an airplane to fly as much as
possible at a reasonable cost. <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>Mike, good
spreadsheet. Those numbers are closer to what I was expecting.
Going under my philosophy of "assumptions x 2" the cost would
still be within my expectations.<o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>Bob, we
need to get Tim to give us what his
exact plan is with 976. I'm sure he wants to make
money on it because it's only costing them at this point, and I'm
guessing that there is owed more on than it is worth. It is the path of
least resistence, however, a 15 year mortgage on a $50k plane that is ready
to go will cost less per month than basically leasing 976 at $650/mo (if that
is the option here).<o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>I'll bring my
financial calculator tommorrow, any material I can find about setting up
by-laws, etc, and a sample flyer that we can post.<o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>Jim, I don't
know how you have this network set up. Am I double sending these e-mails?<o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>Todd<o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'><br>
--- On <b><span style='font-weight:bold'>Mon, 4/6/09, Bob Irving <i><span
style='font-style:italic'><rhirving@verizon.net></span></i></span></b>
wrote:<o:p></o:p></span></font></p>
</div>
<blockquote style='border:none;border-left:solid #1010FF 1.5pt;padding:0in 0in 0in 4.0pt;
margin-left:3.75pt;margin-top:5.0pt;margin-bottom:5.0pt'>
<p class=MsoNormal style='mso-margin-top-alt:auto;margin-bottom:12.0pt'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'><br>
From: Bob Irving <rhirving@verizon.net><br>
Subject: RE: Agenda for Wed evening<br>
To: williammccann@comcast.net, "'mike lysik'"
<mike.lysik@comcast.net><br>
Cc: eefc-core@workingcode.com<br>
Date: Monday, April 6, 2009, 3:19 PM<o:p></o:p></span></font></p>
<div id=yiv1138060819>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:
"Calibri","sans-serif";color:#1F497D'>I’m in the process of trying to do that
but Tim is out of town until tomorrow. I will catch up with him before the
meeting and get answers.</span></font><o:p></o:p></p>
</div>
</div>
</blockquote>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
</div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:
"Calibri","sans-serif";color:#1F497D'>Bob</span></font> <o:p></o:p></p>
<div>
<div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><font
size=2 face=Tahoma><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";
font-weight:bold'>From:</span></font></b><font size=2 face=Tahoma><span
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>
eefc-core-bounces@workingcode.com [mailto:eefc-core-bounces@workingcode.com] <b><span
style='font-weight:bold'>On Behalf Of </span></b>williammccann@comcast.net<br>
<b><span style='font-weight:bold'>Sent:</span></b> Monday, April 06, 2009
3:14 PM<br>
<b><span style='font-weight:bold'>To:</span></b> mike lysik<br>
<b><span style='font-weight:bold'>Cc:</span></b> eefc-core@workingcode.com<br>
<b><span style='font-weight:bold'>Subject:</span></b> Re: Agenda for Wed
evening</span></font><o:p></o:p></p>
</div>
</div>
<div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'>I'm in agreement with Mike , we should treat this as a pilot
program with six people. The price that Eagle East is asking , and all of the
upgrades</span></font><o:p></o:p></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'>needed , will determine ( speaking for myself ) if I would be
interested. If you are looking to add on an Instrument Rating in the future ,
or just for situational awareness , 976 needs a new avionics package.Why
not negotiate a firm price with Tim so we no where to start with the
numbers . </span></font><o:p></o:p></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'>Thanks,</span></font><o:p></o:p></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'>Bill McCann</span></font><o:p></o:p></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<p style='margin-bottom:12.0pt'><font size=3 color=black face=Arial><span
style='font-size:12.0pt;font-family:"Arial","sans-serif";color:black'><br>
----- Original Message -----<br>
From: "mike lysik" <mike.lysik@comcast.net><br>
To: "Bob Irving" <rhirving@verizon.net><br>
Cc: eefc-core@workingcode.com<br>
Sent: Monday, April 6, 2009 2:21:51 PM GMT -05:00 US/Canada Eastern<br>
Subject: Re: Agenda for Wed evening</span></font><o:p></o:p></p>
</div>
<div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'>I like the thought of having an agenda, but some of the
items may be premature. Maybe we keep the hit list short and
just determine if the total cost of doing this is acceptable with the
six of us, and if so, agree on our next steps.</span></font><o:p></o:p></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'>Thanks</span></font><o:p></o:p></p>
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<p style='margin-bottom:12.0pt'><font size=3 color=black face=Arial><span
style='font-size:12.0pt;font-family:"Arial","sans-serif";color:black'>Mike
<br>
----- Original Message -----<br>
From: "Bob Irving" <rhirving@verizon.net><br>
To: eefc-core@workingcode.com<br>
Sent: Monday, April 6, 2009 1:22:25 PM GMT -05:00 US/Canada Eastern<br>
Subject: Agenda for Wed evening</span></font><o:p></o:p></p>
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<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=2 color=black face=Calibri><span style='font-size:11.0pt;font-family:
"Calibri","sans-serif";color:black'>Attached is a proposed agenda. Do we need
to add anything?</span></font> <o:p></o:p></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'><br>
_______________________________________________ eefc-core mailing list
eefc-core@workingcode.com https://www.workingcode.com/mailman/listinfo/eefc-core
</span></font><o:p></o:p></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;margin-bottom:12.0pt'><font
size=3 color=black face=Arial><span style='font-size:12.0pt;font-family:"Arial","sans-serif";
color:black'><br>
_______________________________________________ eefc-core mailing list
eefc-core@workingcode.com
https://www.workingcode.com/mailman/listinfo/eefc-core </span></font><br>
-----Inline Attachment Follows-----<o:p></o:p></p>
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<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 face="Times New Roman"><span style='font-size:12.0pt'>_______________________________________________<br>
eefc-core mailing list<br>
<a
href="http://us.mc1113.mail.yahoo.com/mc/compose?to=eefc-core@workingcode.com"
target="_blank">eefc-core@workingcode.com</a><br>
<a href="https://www.workingcode.com/mailman/listinfo/eefc-core"
target="_blank">https://www.workingcode.com/mailman/listinfo/eefc-core</a><o:p></o:p></span></font></p>
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<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><font
size=3 color=black face="Times New Roman"><span style='font-size:12.0pt;
color:black'> <o:p></o:p></span></font></p>
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<p class=MsoNormal><font size=3 color=black face=Arial><span style='font-size:
12.0pt;font-family:"Arial","sans-serif";color:black'><br>
_______________________________________________ eefc-core mailing list
eefc-core@workingcode.com
https://www.workingcode.com/mailman/listinfo/eefc-core <o:p></o:p></span></font></p>
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