<html><head><style type='text/css'>p { margin: 0; }</style></head><body><div style='font-family: Arial; font-size: 12pt; color: #000000'><P> > I am not a lawyer , but I think in a limited liability corporation the individuals are responsible for their portion of the note.</P>
<P> > I personally would borrow $ 2000.00 if I had to , and I think that's equal to 17 rental hours on 976 or 081. I'm sure we could find a plane that's</P>
<P>> better than the flight school beaters. At least you'll have 15 people with some equity in a plane that is worth $30,000. Maybe Todd B is willing to > guarantee the remainder of the note,whether it's an additional $10 or 15 thousand. Each individual can sell their equity share if they decide to leave , > or if they find they are not happy with the club. If you are only paying short money to join the club ,there isn't much of an incentive to make it work.</P>
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<P>> Bill Mc</P>
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<P>balance----- Original Message -----<BR>From: "Bob Irving" <rhirving@verizon.net><BR>To: "Eagle East Flying Club Core Team" <eefc-core@workingcode.com><BR>Sent: Saturday, April 18, 2009 11:45:30 AM GMT -05:00 US/Canada Eastern<BR>Subject: RE: buy in calculation<BR><BR>Are you proposing a partnership ?<BR><BR>-----Original Message-----<BR>From: eefc-core-bounces@workingcode.com<BR>[mailto:eefc-core-bounces@workingcode.com] On Behalf Of<BR>williammccann@comcast.net<BR>Sent: Saturday, April 18, 2009 9:24 AM<BR>To: Eagle East Flying Club Core Team<BR>Subject: Re: buy in calculation<BR><BR>Why not look for something decent outside of Eagle , form an LLC and<BR>increase the buy in to $2000.Maybe there are individuals outside of the core<BR>group who are willing to invest in something they will enjoy to fly or train<BR>in.<BR>Sent via BlackBerry by AT&T<BR><BR>-----Original Message-----<BR>From: "Bob Irving" <rhirving@verizon.net><BR><BR>Date: Sat, 18 Apr 2009 08:30:19 <BR>To: 'Eagle East Flying Club Core Team'<eefc-core@workingcode.com><BR>Subject: RE: buy in calculation<BR><BR><BR>_______________________________________________<BR>eefc-core mailing list<BR>eefc-core@workingcode.com<BR>https://www.workingcode.com/mailman/listinfo/eefc-core<BR><BR>_______________________________________________<BR>eefc-core mailing list<BR>eefc-core@workingcode.com<BR>https://www.workingcode.com/mailman/listinfo/eefc-core<BR><BR>_______________________________________________<BR>eefc-core mailing list<BR>eefc-core@workingcode.com<BR>https://www.workingcode.com/mailman/listinfo/eefc-core<BR></P></div></body></html>