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<DIV><FONT face=Arial size=2>Sorry</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>I sent this and Bob's email regarding meeting with
Tim just came through...</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Mike</FONT></DIV>
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A title=mike.lysik@comcast.net href="mailto:mike.lysik@comcast.net">Mike
Lysik</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A title=eefc-core@workingcode.com
href="mailto:eefc-core@workingcode.com">Eagle East Flying Club Core Team</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Saturday, April 11, 2009 5:12
PM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> Re: sample numbers</DIV>
<DIV><BR></DIV>
<DIV><FONT face=Arial size=2>Bob</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Can you ask Tim if he would go for item-6 on
Todd's list below? Example: If we go with 976 for $18k, + $10k for
430W(installed) + some $ for xponder(does this come with the 430W?) +
some money for whatever general upgrades the cockpit and panel need(do the
VOR's work? one may be broken) + $20k for engine + anything
else = total cost of plane to be financed by our group, guranteed by
Eagle East.</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Mike</FONT></DIV>
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<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A title=toddmbs@yahoo.com href="mailto:toddmbs@yahoo.com">Todd Brooks</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A title=eefc-core@workingcode.com
href="mailto:eefc-core@workingcode.com">Eagle East Flying Club Core Team</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Saturday, April 11, 2009 4:19
PM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> RE: sample numbers</DIV>
<DIV><BR></DIV>
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<DIV>Nice work guys. I need to wake earlier I guess!</DIV>
<DIV> </DIV>
<DIV>After reading the slew of emails, I have a few thoughts:</DIV>
<DIV> </DIV>
<DIV>1. The survey let me complete it without answering it and then I
couldn't go back.</DIV>
<DIV> </DIV>
<DIV>2. If we finance a plane for 10 years it actually comes
out to very little $ per member with regards to the plane
itself. It's the other fixed costs that really add up.
</DIV>
<DIV> </DIV>
<DIV>3. I think the number of members will only slightly affect the
monthly dues. Here is why I say this: if we only have 10 members
the likelihood of us buying another plane is slim; so we
will only have to cover our costs to a minimum and contribute to
the savings account with a reasonable amount. However if we have 20
members then we will want to buy another plane and if the dues are the
same then that extra money will go into the savings for another
plane. Does that make sense?</DIV>
<DIV> </DIV>
<DIV>4. I say finance as much as possible. </DIV>
<DIV> </DIV>
<DIV>5. The initial down-payment could be structured to where a member
gets vested after so much of a time period. This will
first lock in a member so they don't just leave after a month and
we're stuck with less cash. It also gives some of our money back
after we're up and flying. For example (making up numbers here):
if we take $1000 upfront per member, half of that can be returned in 6
months if they leave and 3/4 can returned in 12 months if they
leave. Then after a year we can take a vote and decide what we
do with the down-payment; return some of it, all of it or use it
towards another plane for example. (Just a thought)</DIV>
<DIV> </DIV>
<DIV>6. Going back to 976, I'm missing a gap somewhere in this
financing scheme. Why would we have to pony up $18,000?
That would leave only a $25,000 (roughly) loan. Why can't we
refinance the whole thing at $40k-ish and give Tim is money. Then we
only have to come up with $4,000 ($267 / 15 member). And can't
we finance it after the plane gets outfitted with new avs? Hence,
finance the Garmin.</DIV>
<DIV> </DIV>
<DIV>7. I like the spreadsheet. The totals in green appear to be
bare minimum cost for 12 members. Assuming that, we will have to
round these numbers up to whatever reasonable amount can include a
slush fund/saving account.</DIV>
<DIV> </DIV>
<DIV>Todd</DIV>
<DIV><BR><BR>--- On <B>Sat, 4/11/09, Steve Gordon
<I><steve@media-phile.com></I></B> wrote:<BR></DIV>
<BLOCKQUOTE
style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: rgb(16,16,255) 2px solid"><BR>From:
Steve Gordon <steve@media-phile.com><BR>Subject: RE: sample
numbers<BR>To: "Eagle East Flying Club Core Team"
<eefc-core@workingcode.com><BR>Date: Saturday, April 11, 2009,
1:49 PM<BR><BR>
<DIV class=plainMail>I see your point. If we can roll in these
seemingly up front costs into the loan it might be more fair to all
members regardless of when they join or leave, and it's less of a
burden to the founding members. This is assuming the bank
would allow us to finance things such as an initial overhaul
fund.<BR><BR>I intentionally left the cost of a GPS NAV/COM out of
the base costs to keep the options simple. I asked a followup
question in the survey asking if members would be willing to spend
approx $500 - $1,000 towards that equipment. However, if that
cost is rolled into the loan, we would need to communicate a monthly
dues increase. I can change the wording of the folowup
question to reflect what the monthly increase would be.<BR><BR>Sent
from Windows Mobile Smartphone.<BR><BR>-----Original
Message-----<BR>From: James Carlson <<A
href="http://us.mc1113.mail.yahoo.com/mc/compose?to=carlsonj@workingcode.com"
ymailto="mailto:carlsonj@workingcode.com">carlsonj@workingcode.com</A>><BR>Sent:
Saturday, April 11, 2009 1:25 PM<BR>To: <A
href="http://us.mc1113.mail.yahoo.com/mc/compose?to=eefc-core@workingcode.com"
ymailto="mailto:eefc-core@workingcode.com">eefc-core@workingcode.com</A><BR>Subject:
RE: sample numbers<BR><BR>Steve Gordon writes:<BR>> The one-time
cost is a hard number to nail down because it depends very
much<BR>> on the particular aircraft we choose. It just
happens that given the<BR>> particular aircraft chosen as
samples, the 172 has a higher one-time cost<BR>> than the
Cardinal. Since these are not necessarily the actual aircraft
we<BR>> will pursue, I thought we should give a range as we will
not know the actual<BR>> cost until we settle on something.
<BR><BR>Yep; the new spreadsheet does look pretty good. The
SMOH handling was<BR>confusing at first until I figured out that you
were recapturing the<BR>lost asset value from the members so that
we'd have an adequate<BR>initial fund for repair later.<BR><BR>These
numbers don't seem to include the avionics we've been
talking<BR>about, or at least it's unclear to me if they do (and
they're just<BR>rolled into the overall purchase). The extra
$10K up front for a 430W<BR>would need to go in somewhere, and it
needn't necessarily go in the<BR>one-time cost. It could be
financed. (I think we're probably better<BR>off keeping as
many things out of the one-time cost as we can, and<BR>borrowing
more instead. The monthly cost doesn't get returned
to<BR>those who leave the club, but at least part of the one-time
cost might<BR>need to be.)<BR><BR>If someone is in the club for
(say) a year, I think it's completely<BR>fair that he pays his share
for the financed fixed costs paid during<BR>that year, but it's
probably not fair to charge him for the whole cost<BR>of the extras
-- amount down, SMOH, or 430W. He didn't use those<BR>things
up.<BR><BR>Consider: suppose we just put the entire plane into the
one-time cost.<BR>Those leaving would logically get their portion of
the plane back;<BR>we'd buy up their share. Now suppose we
finance everything. Those<BR>leaving would get nothing back,
because they paid as they went. This<BR>argues to me that it's
in the club's interest (and also fair) to make<BR>sure as much goes
to the monthly dues as we can.<BR><BR>In any event, none of the
numbers are outrageous, so it feels like<BR>we're in the right
area.<BR><BR>-- <BR>James Carlson
42.703N 71.076W
<<A
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