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<DIV><FONT face=Arial size=2>All</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>I'm assuming the overhaul for the 6 cyl would be
more than 20k. Does anyone have an idea on the cost so it can be reflected
in the spreadsheet and survey?</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=steve@media-phile.com href="mailto:steve@media-phile.com">Steve
Gordon</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A title=eefc-core@workingcode.com
href="mailto:eefc-core@workingcode.com">eefc-core@workingcode.com</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Saturday, April 11, 2009 11:50
AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> RE: sample numbers</DIV>
<DIV><BR></DIV>
<DIV class=Section1>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">I was running with a 10% down
payment, an 8% interest rate, and 12 members. Also the Hawk XP runs
about 10gph and the Cardinal runs about 11gph (conservative estimate based on
multiple results of a Google search). I can re-run the numbers with a
20% down payment and a 7.1% interest rate, but I would recommend sticking with
12 members and these fuel consumption estimates. I’d rather be in a
situation where we know we have 15 members who would be willing to pay 12
member rates rather than having only 12 members who would be willing to pay 15
member rates. Finding that “sweet spot” is easier if we estimate costs a
little high and membership a little low.<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">I was accounting for
bootstrapping the overhaul fund. If the plane has, for example, 1,000
SMOH, then we need to set aside $10,000 towards the engine overhaul. I
factored that money as part of the one-time payment. We could also work
that into the monthly dues which would make the dues higher until after the
first overhaul.<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">Another consideration is that
insurance will likely go up as the value of the plane goes up. We agreed
that insurance on a 172 is $4,500, so I took a guess and figured that
insurance on the Hawk XP would be about $5,000, and insurance on the cardinal
would be about $5,500. I realize I have no solid basis for these
numbers, but thought it better to estimate rather than assume the same
insurance premium on a Cardinal that we’d have on a 172.<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">I also made a leap and assumed
that we would want to hangar the Cardinal. It would be a shame to leave
such a beautifully restored and freshly painted aircraft out in the
elements. I assumed $350/month for a hangar, and that may even be on the
low side.<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">The one-time cost is a hard
number to nail down because it depends very much on the particular aircraft we
choose. It just happens that given the particular aircraft chosen as
samples, the 172 has a higher one-time cost than the Cardinal. Since
these are not necessarily the actual aircraft we will pursue, I thought we
should give a range as we will not know the actual cost until we settle on
something. <o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">I’ve attached a spreadsheet
with the numbers used to calculate the cost structures I used.
<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">Thanks,<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d">-Steve<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p> </o:p></SPAN></P>
<DIV>
<DIV
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: #b5c4df 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 3pt; BORDER-BOTTOM: medium none">
<P class=MsoNormal><B><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Tahoma','sans-serif'">From:</SPAN></B><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Tahoma','sans-serif'">
eefc-core-bounces@workingcode.com [mailto:eefc-core-bounces@workingcode.com]
<B>On Behalf Of </B>Bob Irving<BR><B>Sent:</B> Saturday, April 11, 2009 10:55
AM<BR><B>To:</B> eefc-core@workingcode.com<BR><B>Subject:</B> sample
numbers<o:p></o:p></SPAN></P></DIV></DIV>
<P class=MsoNormal><o:p> </o:p></P>
<P class=MsoNormal>At 20% down payment, 7.1% interest rate, and 15 members I
come up with the following numbers. What am i missing?<o:p></o:p></P>
<P class=MsoNormal><o:p> </o:p></P>
<P class=MsoNormal>40,000 = 600 initial/75 per month/65 per
hour<o:p></o:p></P>
<P class=MsoNormal>50,000 = 700 initial/80 per month/65 per
hour<o:p></o:p></P>
<P class=MsoNormal>60,000= 800 initial/85 per month/65 per
hour<o:p></o:p></P></DIV>
<P>
<HR>
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