<html><head><style type='text/css'>p { margin: 0; }</style></head><body><div style='font-family: Arial; font-size: 12pt; color: #000000'><P>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.</P>
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<P>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.</P>
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<P>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?</P>
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<P>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.</P>
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<P>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<BR><BR></P>
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<P>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.</P>
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<P>Thanks</P>
<P>Bill McCann</P>
<P><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<BR><BR></P>
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<P class=MsoNormal><FONT face=Calibri color=#1f497d size=2><SPAN style="FONT-SIZE: 11pt; COLOR: #1f497d; FONT-FAMILY: 'Calibri','sans-serif'">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></P>
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<P class=MsoNormal><FONT face=Calibri color=#1f497d size=2><SPAN style="FONT-SIZE: 11pt; COLOR: #1f497d; FONT-FAMILY: 'Calibri','sans-serif'">Tim is out of town but Sean promises to get back to me. We’ll see. </SPAN></FONT></P>
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<P class=MsoNormal><FONT face=Calibri color=#1f497d size=2><SPAN style="FONT-SIZE: 11pt; COLOR: #1f497d; FONT-FAMILY: 'Calibri','sans-serif'">Bob</SPAN></FONT></P>
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<P class=MsoNormal><B><FONT face=Tahoma size=2><SPAN style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: 'Tahoma','sans-serif'">From:</SPAN></FONT></B><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: 'Tahoma','sans-serif'"> 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></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">Gentlmen,</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">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.</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">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. </SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">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.</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">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).</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">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.</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">Jim, I don't know how you have this network set up. Am I double sending these e-mails?</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt">Todd</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"><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:</SPAN></FONT></P></DIV>
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<P class=MsoNormal style="MARGIN-BOTTOM: 12pt"><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"><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</SPAN></FONT></P>
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<P class=MsoNormal style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto"><FONT face=Calibri color=#1f497d size=2><SPAN style="FONT-SIZE: 11pt; COLOR: #1f497d; FONT-FAMILY: 'Calibri','sans-serif'">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></P></DIV></DIV></BLOCKQUOTE>
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<P class=MsoNormal style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto"><B><FONT face=Tahoma size=2><SPAN style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: 'Tahoma','sans-serif'">From:</SPAN></FONT></B><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; 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></P></DIV></DIV>
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<P class=MsoNormal><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'">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></P></DIV>
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<P class=MsoNormal><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'">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></P></DIV>
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<P class=MsoNormal><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'">Thanks,</SPAN></FONT></P></DIV>
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<P class=MsoNormal><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'">Bill McCann</SPAN></FONT></P></DIV>
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<P style="MARGIN-BOTTOM: 12pt"><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'"><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></P></DIV>
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<P class=MsoNormal><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'">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></P></DIV>
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<P class=MsoNormal><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'">Thanks</SPAN></FONT></P></DIV>
<P style="MARGIN-BOTTOM: 12pt"><FONT face=Arial color=black size=3><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial','sans-serif'">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></P></DIV>
<P class=MsoNormal style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto"><FONT face=Calibri color=black size=2><SPAN style="FONT-SIZE: 11pt; COLOR: black; FONT-FAMILY: 'Calibri','sans-serif'">Attached is a proposed agenda. Do we need to add anything?</SPAN></FONT> </P>
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