Mon Apr 28, 2008 1:16 am
warbird1 wrote:I don't know if anybody has considered this, but has anyone thought that Bill might not be able to afford the repairs on the Spitfire? I know he has complained in the past about the high cost of operating expenses to keep it flying. Bill can correct me if I'm wrong, but I believe he bought it about 1983 or so. At that time, IIRC, Spitfires were going for less than $200,000. Bill was lucky and was able to buy it when it was cheap before they skyrocketed out of sight.
My intent is not to pry upon Bill's personal finances, but what if he can't afford to repair the work? Would the WIX board come to the rescue like we did with Ole' 927? This situation has happened in the past when Lefty's son crash-landed the P-38 which he had for years. Lefty got that aircraft when they were dirt cheap and had no money to restore it after it's crash. The result is he was forced to sell it to Red Bull where it now sits at Breckenridge, pending completion of it's restoration. This is just one instance where warbird owners could not afford to repair/restore a warbird that they bought many years ago before the prices spiraled out of control.
Many people think that warbird owners are multi-millionaires, and that is certainly the case for new owners, but there are still a lot of owners out there who bought them when they were cheap in the 60's, and 70's, but may not even make 6 figures a year in income. Yet, they continue to fly their warbirds, and are barely able to keep them flying on a shoe-string budget. I'm hoping that this isn't the case with Bill.
I wish Bill all the luck in getting TE 308 back to flying, but I'm wondering whether this might be beyond his economic means? Hopefully not.
Mon Apr 28, 2008 1:19 am
Mon Apr 28, 2008 2:08 am
Mon Apr 28, 2008 2:32 am
Mon Apr 28, 2008 5:00 am
Mon Apr 28, 2008 5:41 am
Mon Apr 28, 2008 5:53 am
Mon Apr 28, 2008 6:07 am
Mon Apr 28, 2008 7:00 am
Mon Apr 28, 2008 7:08 am
Mon Apr 28, 2008 7:16 am
Mon Apr 28, 2008 8:06 am
Mon Apr 28, 2008 8:12 am
I bet the lawers are already circling the wagons and It will probably be a big law suit like the EAA/Corsair/Bearcat episode.
Mon Apr 28, 2008 8:41 am
Mon Apr 28, 2008 2:35 pm
Lynn Allen wrote:warbird1 wrote:I don't know if anybody has considered this, but has anyone thought that Bill might not be able to afford the repairs on the Spitfire? I know he has complained in the past about the high cost of operating expenses to keep it flying. Bill can correct me if I'm wrong, but I believe he bought it about 1983 or so. At that time, IIRC, Spitfires were going for less than $200,000. Bill was lucky and was able to buy it when it was cheap before they skyrocketed out of sight.
My intent is not to pry upon Bill's personal finances, but what if he can't afford to repair the work? Would the WIX board come to the rescue like we did with Ole' 927? This situation has happened in the past when Lefty's son crash-landed the P-38 which he had for years. Lefty got that aircraft when they were dirt cheap and had no money to restore it after it's crash. The result is he was forced to sell it to Red Bull where it now sits at Breckenridge, pending completion of it's restoration. This is just one instance where warbird owners could not afford to repair/restore a warbird that they bought many years ago before the prices spiraled out of control.
Many people think that warbird owners are multi-millionaires, and that is certainly the case for new owners, but there are still a lot of owners out there who bought them when they were cheap in the 60's, and 70's, but may not even make 6 figures a year in income. Yet, they continue to fly their warbirds, and are barely able to keep them flying on a shoe-string budget. I'm hoping that this isn't the case with Bill.
I wish Bill all the luck in getting TE 308 back to flying, but I'm wondering whether this might be beyond his economic means? Hopefully not.
Hah, I don't think Bill is going to have to worry about paying for this one.But I'm glad you are ok though....
Lynn