sample numbers

[Steve Gordon]

protected

Sent from Windows Mobile Smartphone.

-----Original Message-----
From: Mike Lysik <mike.lysik at comcast.net>
Sent: Saturday, April 11, 2009 2:21 PM
To: Eagle East Flying Club Core Team <eefc-core at workingcode.com>
Subject: Re: sample numbers

Steve

Can you forward the password for the spreadsheet?

Thanks,
Mike
----- Original Message ----- 
From: "Steve Gordon" <steve at media-phile.com>
To: "Eagle East Flying Club Core Team" <eefc-core at workingcode.com>
Sent: Saturday, April 11, 2009 1:49 PM
Subject: RE: sample numbers


>I see your point.  If we can roll in these seemingly up front costs into 
>the loan it might be more fair to all members regardless of when they join 
>or leave, and it's less of a burden to the founding members.  This is 
>assuming the bank would allow us to finance things such as an initial 
>overhaul fund.
>
> I intentionally left the cost of a GPS NAV/COM out of the base costs to 
> keep the options simple. I asked a followup question in the survey asking 
> if members would be willing to spend approx $500 - $1,000 towards that 
> equipment.  However, if that cost is rolled into the loan, we would need 
> to communicate a monthly dues increase.  I can change the wording of the 
> folowup question to reflect what the monthly increase would be.
>
> Sent from Windows Mobile Smartphone.
>
> -----Original Message-----
> From: James Carlson <carlsonj at workingcode.com>
> Sent: Saturday, April 11, 2009 1:25 PM
> To: eefc-core at workingcode.com
> Subject: RE: sample numbers
>
> Steve Gordon writes:
>> 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.
>
> Yep; the new spreadsheet does look pretty good.  The SMOH handling was
> confusing at first until I figured out that you were recapturing the
> lost asset value from the members so that we'd have an adequate
> initial fund for repair later.
>
> These numbers don't seem to include the avionics we've been talking
> about, or at least it's unclear to me if they do (and they're just
> rolled into the overall purchase).  The extra $10K up front for a 430W
> would need to go in somewhere, and it needn't necessarily go in the
> one-time cost.  It could be financed.  (I think we're probably better
> off keeping as many things out of the one-time cost as we can, and
> borrowing more instead.  The monthly cost doesn't get returned to
> those who leave the club, but at least part of the one-time cost might
> need to be.)
>
> If someone is in the club for (say) a year, I think it's completely
> fair that he pays his share for the financed fixed costs paid during
> that year, but it's probably not fair to charge him for the whole cost
> of the extras -- amount down, SMOH, or 430W.  He didn't use those
> things up.
>
> Consider: suppose we just put the entire plane into the one-time cost.
> Those leaving would logically get their portion of the plane back;
> we'd buy up their share.  Now suppose we finance everything.  Those
> leaving would get nothing back, because they paid as they went.  This
> argues to me that it's in the club's interest (and also fair) to make
> sure as much goes to the monthly dues as we can.
>
> In any event, none of the numbers are outrageous, so it feels like
> we're in the right area.
>
> -- 
> James Carlson         42.703N 71.076W         <carlsonj at workingcode.com>
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