proposed email to interested parties

[Bob Irving]

Jim,
The "buy-in" is a one time payment by all members that covers the down
payment EE wants on financing (15%) plus the engine reserve (we will need
about $20,000 to replace the engine in 400 hrs - maybe sooner). No, it's not
credit for anything. I don't see how the club could refund any of this money
on leaving.

If you are interested in doing the financing, that certainly is a preferred
approach. That would release us from the need to purchase 976 or 081. We
could find something everyone is happy to fly.  

Why don't you provide some details ?

Bob

-----Original Message-----
From: eefc-core-bounces at workingcode.com
[mailto:eefc-core-bounces at workingcode.com] On Behalf Of James Carlson
Sent: Monday, April 20, 2009 2:50 PM
To: Eagle East Flying Club Core Team
Subject: Re: proposed email to interested parties

Bob Irving writes:
> Buy-in (engine reserve/down payment on aircraft) = $1450

I'm still really fuzzy on what this "buy-in" actually means.  Is it
credit that we'd have with the club?  Is it something that (neglecting
time value of money) we'd get back on leaving the club?  Is it
something we just have to part with completely to form the club (a bit
one-time payment)?

I understand the monthly dues and the hourly cost for the plane, but
not the buy-in.

Without details, it's hard for me to determine exactly what the
message means, and unless I'm stepping up to a much more interesting
aircraft, a giant payment isn't too exciting to me.

In contrast to the "buy-in," I'd be comfortable with lending the club
a fair bit of money (either out of my own cash or borrowed unsecured
myself) to get a monthly payment from the club.  That's easier to
justify, because it's an investment with known terms rather than a
"buy-in."

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