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<p class=MsoNormal><span style='color:#1F497D'>Yup.<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
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<div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'>
<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;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> Wednesday, April 15, 2009 11:35 AM<br>
<b>To:</b> 'Eagle East Flying Club Core Team'<br>
<b>Subject:</b> RE: 976 price<o:p></o:p></span></p>
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<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span style='color:#1F497D'>So I will put you down for a “no
@ 10” and a “maybe @15”<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'>Bob<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
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<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> eefc-core-bounces@workingcode.com
[mailto:eefc-core-bounces@workingcode.com] <b>On Behalf Of </b>Steve Gordon<br>
<b>Sent:</b> Wednesday, April 15, 2009 11:24 AM<br>
<b>To:</b> 'Eagle East Flying Club Core Team'<br>
<b>Subject:</b> RE: 976 price<o:p></o:p></span></p>
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<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span style='color:#1F497D'>I ran the numbers for 5 years
and 10 years financing. It does not significantly change the monthly
dues.<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'>Assuming it were only the seven
of us, that would mean about $4,750 down, $105/month, and $65/hr. I would
not be interested in that deal.<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'>Assuming 15 members that’s more like
$2,200 down, $50/month, and $65/hr. That’s still a larger upfront cost
than I would hope to spend on this deal, but I might go for it. However,
with such a large upfront cost I doubt we could recruit 15 members. We
could find out with a very directed survey. Just one option and a yes/no.<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'>With such large upfront costs we
need to consider equity share. If I were to cough up $2,200 now and then
decide in a month that I need to leave the group, do I lose my entire
$2,200? What happens if a new member joins? Do they get the benefit
of only paying $50 a month without having to pay a $2,200 joining fee?
That would not be fair to the founding members. I really wanted to avoid
the complexity of such large upfront costs.<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>
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<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;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> Wednesday, April 15, 2009 10:16 AM<br>
<b>To:</b> 'Eagle East Flying Club Core Team'<br>
<b>Subject:</b> 976 price<o:p></o:p></span></p>
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<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>Spoke to Tim this morning. The 50k price tag on 976 would
require a down payment from the club sufficient to pay off the note (about
18,000) plus the cost of engine from Penn Yan (about 15,000) leaving a balance
of 17,000 that Eagle East will finance. No details on rate and/or term.<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>So far only two of you have commented. Please provide
some input – we need to arrive at a consensus on this. Thanks.<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>Bob<o:p></o:p></p>
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