Garmin 430W and notes from 4/08/09 meeting

[Todd Brooks]

I can agree with that.  I guess it makes sense that we don't have much to talk about (or do) unless Tim gives us the info we need to make proper decisions.  So at this point we're waiting on Tim.

I sympathize with your level of patience. It's been a slow Friday afternoon and the weather was nice, so I start thinking - Flying!



--- On Fri, 4/10/09, Bob Irving <rhirving at verizon.net> wrote:

From: Bob Irving <rhirving at verizon.net>
Subject: RE: Garmin 430W and notes from 4/08/09 meeting
To: toddmbs at yahoo.com, eefc-core at workingcode.com
Date: Friday, April 10, 2009, 4:27 PM




 
 






Todd –
I don’t want to send out a broadcast email until we can provide some hard
numbers and specific options. Steve is working on most of that and I am trying
to get Tim to nail down details of his “proposal” for 976. So far,
I’m not making connections with him. I think we need to have all of that
rolled up before going out to others.  

   

I
wouldn’t imply anything from communication difficulty with Tim that
except that I am not known for my patient nature. 

   

Bob 

   



From:
eefc-core-bounces at workingcode.com [mailto:eefc-core-bounces at workingcode.com] On Behalf Of toddmbs at yahoo.com

Sent: Friday, April 10, 2009 3:34
PM

To: eefc-core at workingcode.com

Subject: RE: Garmin 430W and notes
from 4/08/09 meeting 



   


 
  
  
  I think it was the "act as a bank" part
  that was confusing me.  Other than just making the payments on an
  existing note, I didn't see how EE could play the bank when there is a lot of
  work to do on 976 and it has to be paid for.  Tim is just going to have
  to spell out exactly how this transaction can work.  And Tim usually
  gets right to the point.

  

  Also, I will propose a meeting on Wednesday again.  It seemed to work
  easily for us last week. I am available.  I have a few scenarios for how
  to set up the initial club buy-in. They mostly depend on the number of
  interested members and the financing options available.

  

  Bob, perhaps when you send out the first e-mail introducing yourself to the
  interested group list (on the next clear sunny flying day), you can ask them
  respond so we can get a solid number of potential members.

  

  Todd

  

  

  --- On Thu, 4/9/09, Bob Irving <rhirving at verizon.net>
  wrote: 
  

  From: Bob Irving <rhirving at verizon.net>

  Subject: RE: Garmin 430W and notes from 4/08/09 meeting

  To: "'James Carlson'" <carlsonj at workingcode.com>

  Cc: eefc-core at workingcode.com

  Date: Thursday, April 9, 2009, 4:13 PM 
  
  Unfortunately, some of the detail is being forwarded
  through Sean. As

  mentioned, I'm trying to get specifics from Tim but he's off all day today.

  We will get to the facts shortly.

  

  Bob

  

  -----Original Message-----

  From: James Carlson [mailto:carlsonj at workingcode.com] 

  Sent: Thursday, April 09, 2009 3:58 PM

  To: Bob Irving

  Cc: eefc-core at workingcode.com

  Subject: RE: Garmin 430W and notes from 4/08/09 meeting

  

  Bob Irving writes:

  > As I understand it, the simplest way to do this would to make an
  outright

  > purchase of 976 from Eagle East. This is how Tim wants to do it as I

  > understand. Say the price tag EE comes up with was $45,000. We would
  need

  to

  > finance this amount through an aircraft lender. The lender would
  probably

  > require a 10% down payment - say $4,500. The balance of $40,500 would be

  > financed over a period of time - say 10 years at a specific rate of

  interest

  > - say 8%.  At the closing, Tim's existing note would get paid off
  and he

  > would obtain and transfer title to EEFC.  He keeps whatever
  "extra" equity

  > comes out of the deal. Most likely, the lender will require either a

  > personal guarantee from club officers OR a guarantee from a business

  entity

  > - like Eagle East. Maybe both.    

  

  That doesn't match my understanding, so we do need to sync up with

  Tim.  I had thought he was offering to "act as the bank" if we
  go with

  976.

  

  -- 

  James Carlson         42.703N 71.076W 
         <carlsonj at workingcode.com>

  

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