<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv=Content-Type content="text/html; charset=utf-8">
<meta name=Generator content="Microsoft Word 12 (filtered medium)">
<style>
<!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
p
{mso-style-priority:99;
margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman","serif";}
span.EmailStyle18
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page Section1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.Section1
{page:Section1;}
-->
</style>
<!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang=EN-US link=blue vlink=purple>
<div class=Section1>
<p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Getting
owner info should not be a problem<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></font></p>
<div>
<div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'>
<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
font-family:"Tahoma","sans-serif";font-weight:bold'>From:</span></font></b><font
size=2 face=Tahoma><span style='font-size:10.0pt;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, May 25, 2009 11:52
AM<br>
<b><span style='font-weight:bold'>To:</span></b> Eagle East Flying Club Core
Team<br>
<b><span style='font-weight:bold'>Subject:</span></b> Re: request for vote: new
numbers and plan<o:p></o:p></span></font></p>
</div>
</div>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<div>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'>You can count my vote as a yes
!!! It would be nice to know who the previous owner/owners were !!<o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></font></p>
<p><font size=3 color=black face=Arial><span style='font-size:12.0pt;
font-family:"Arial","sans-serif";color:black'><br>
----- Original Message -----<br>
From: "James Carlson" <carlsonj@workingcode.com><br>
To: "Eagle East Flying Club Core Team"
<eefc-core@workingcode.com><br>
Sent: Thursday, May 21, 2009 9:16:00 AM GMT -05:00 US/Canada Eastern<br>
Subject: request for vote: new numbers and plan<br>
<br>
Todd and I have been discussing financing issues off-list. Attached is a
spreadsheet based on Steve's, but with a number of modifications based on that
discussion. We would like to request opinions from each of the core team
members (even those who are presently planning to go another direction). The
proposal looks like this: No buy-in cost $175/month with 12 members $70/hour
wet Cessna Cardinal 177B, brand new engine and interior Please provide a "yes"
or "no" answer, indicating whether this is the sort of club you'd be
willing to join. If you'd like, you might also offer commentary on the plan
itself or on any of the details, but the important part is the reality check,
and a straight up/down vote will provide that. The plane is the same one that
Bob previously mentioned. A current link (as it has expired off of
controller.com): http://www.primoairplanes.com/media/specs/N991MP.htm Here are
some details on the numbers and what we'd expect for the club: - The long pole
in the tent is the fixed annual cost. Even if we could get a free airplane to
run (and thus have zero note payment), it'd still be $125/month with 12 members
and $215/month with 7. To get anywhere, we need to address that cost, and not
fixate on the plane or the bank. - The other really serious issue is the number
of club members. Ten members per plane seems to be the breakpoint for several
things; below that level, the monthly dues are too much, and above that level,
insurance suddenly becomes too high. - As the club pays down the debts, it'll
accumulate capital. We need a fair way to apportion equity so that if someone
wants to leave, we can pay that back to the departing member and still have a
functioning club. The mechanics of how that would operate are to be determined
later. (And in theory you could have non-note- paying / non-equity members in
the future; I'd leave that out of the charter for now.) - The numbers are
intentionally high. We may well be able to lower costs later. But that's a good
position to be in. - The spreadsheet updates include putting everything on one
page, gathering together all the input variables, adding membership sensitivity
details, adding next-$5 round-up on dues and rates, computing break-even versus
rental, derating for tach versus Hobbs hours, parameterizing oil and other
costs, allowing for both SMOH-to-TBO overhaul capture as well as an initial
reserve fund (to offset for a plane with high SMOH), and allowing private plus
bank financing. If anything's confusing, let me know, and I'll explain. --
James Carlson 42.703N 71.076W <br>
_______________________________________________ eefc-core mailing list
eefc-core@workingcode.com
https://www.workingcode.com/mailman/listinfo/eefc-core <o:p></o:p></span></font></p>
</div>
</div>
</body>
</html>