Operating cost Analysis

GENERAL                       Model Challenger 604 Challenger 605 Global Express Global Express XRS Global 5000  VARIABLE COSTS (Hourly) Fuel Expense ＄1,503.27 ＄1,208.00 ＄2,353.91 ＄2,108.21 ＄2,134.74 Maint,Labor Expense ＄394.12 ＄74.88 ＄385.02 ＄54.62 ＄54.62 Parts Expense ＄322.50 ＄200.00 ＄267.95 ＄158.00 ＄148.00 MiscellaneousTripExpense ＄402.11 ＄402.11 ＄445.59 ＄445.94 ＄402.11 Total Variable ＄2,622.00 ＄1,884.99 ＄3,452.47 ＄2,766.77 ＄2,739.46  FIXED COSTS  (Annual) Hull Insurance ＄58,960 ＄60,238 ＄83,300 ＄83,247 ＄82,872 Liability Insurance ＄29,000 ＄29,000 ＄29,000 ＄29,000 ＄29,000 Hull Insurance per $100 ＄0.22 ＄0.22 ＄0.17 ＄0.17 ＄0.22 Liability Insurance Per $M ＄145 ＄145 ＄145 ＄145 ＄145 Maint. Software Programs ＄7,778 ＄7,778 NA NA ＄7,778 Miscellaneous services ＄11,916 ＄11,614 ＄16,996 ＄16,996 ＄11,614 PERIODIC COSTS Mid-life/Hot section Insection ＄301,974 NA ＄440,725 NA NA Engine Overhaul ＄842,044 NA ＄881,450 NA NA Overhaul Interval 0C 0C 0C 0C 0C Paint ＄108,400 ＄108,400 ＄174,600 ＄174,600 ＄161,800 Interior Refurbishment ＄218,200 ＄218,200 ＄311,800 ＄311,800 ＄280,600 Modem./Modif./Upgrade ＄61,800 ＄61,800 ＄70,100 ＄70,100 ＄61,800  PERSONNEL COSTS Captain Salary ＄105,833 ＄105,833 ＄127,960 ＄127,960 ＄105,833 First Officer Salary ＄82,078 ＄82,078 ＄85,660 ＄85,660 ＄82,078  TRAINING Pilot Initial (Per pilot) ＄32,600 ＄32,100 ＄38,200 ＄38,200 ＄38,300 Maintenance Initial ＄8,400 ＄8,200 ＄17,800 ＄12,200 ＄12,200  FACILITIES(Annual) Hangar/Office Lease Expense ＄144,664 ＄ 144,664 ＄147,075 ＄147,075 ＄144,664 Miscellaneous Office Expense ＄52,012 ＄52,012 ＄54,268 ＄54,268 ＄52,012

G III

$575,000

1981 Gulfstream III S/N 370 Airframe Time: 9,623 Hrs. Landings-4955 (Main landing Gear overhauled at 4890) Engine 1: 2523 Hrs. since Overhaul. -Mid Life due (or 1C) April, 2012 Engine 2: 2651 Hrs. since Overhaul. -Mid Life due (or 1C) January, 2012 APU: Time since OH: 670 Hrs. Sperry EFIS Avionic Deck VHF Comms: TRIPLE Collins VHF-422 / 8.33 Mhz Spacing VHF Navs 2 Collins VHF-30’s with FM Imm. ADF: 2 Collins ADF-60A’s DME: 2 DME-40’s Air Data Computers: Dual Sperry Attitude Reference: Dual Inertial Reference Dual Delco Carousels Radar: Primus 800 Transponders: 2 TDR-90’s Radar Altim: Collins ALT 55B TRIPLE FMS: Dual UNS-1D’s and One UNS-1K AP/FD Sperry Digital SPZ 800 Autopilot/Flight Director with Comparator Warning TCAS: Allied Signal CAS–67A TCAS II w/ IVSI Indicator EGPWS: Allied Signal MK VII HF Radio: 2 718-5 Collins with Selcal CVR: A-100 FDR: Fairchild F-1000 Interior New in 2000 including woodwork-12 passenger configuration with 7 large armchairs and three place divan, 2 place fwd divan. Headliner and upper panels - Neutral ultra leather Seats/Divans - Clay leather, Carpet – Clay Beige Cabinetry – Dark walnut wood laminate with high-gloss finish Airshow 4000 with Genesis Magnastar Flight Phone with Three Handsets, Cockpit Mounted Camera with Five Plug-In Monitors Two DVD Players / One VCR / One CD Player, Fwd Crew refreshment, Aft Galley, Aft Lav Paint: New in 2000 in White with Gray Metallic with Red and Silver trim 72 Month Inspection c/w 8/ 2008 24 Month with Internal Wing Inspection 6/ 2006 580 Comscan 11/ 2006 APU Inspection 11/2008, 5000 Main Landing Gear Inspection 11/2008 Throttle Cable Replacement 11/2008

Operating Costs for Gulfstream G-III

	PQ Avg.
Fuel (GPH):	540.00
Fuel Costs/Gallon:	2.00
Fuel Costs/Hour:	1,069.53
Oil Costs per Hour:	0.50
Maintenance Cost/Hour:	331.68
Hourly Engine Reserve:	211.88
Prop T/R Reserve:	12.00
Total Variable Costs/Hour:	1,625.60
Average Speed (MPH):	430.00
Cost/SM:	3.78
Annual Insurance:	40,875.14
Annual Hangar/Tiedown:	83,034.02
Training:	37,861.39
Total Fixed Costs:	161,770.54
Hours/Year:	328.29
Fixed Cost/Hour:	505.26
Total Variable & Fixed Costs/Year:	691,371.09
Total Costs/Hour:	2,130.84
Total Cost/SM:	4.96

Quail Ridge

 $1,595,000

Approx. 4680 Square Feet

4.62 Acres

Desert Contemporary architecture perched atop nearly 5 acres with 360-degree views * Quail Ridge is a boutique, gated enclave of 11 homesites on 72 acres * Big sunset and sunrise views at any time of year * City lights stretch across the southern horizon * Surrounding mountains rise in the distance * Apache golf course in the foreground * Open floor plan has floor-to-ceiling windows, stone floors, living and family room hand-hewn beams, multiple masonry gas fireplaces, and lighted art niches * Outside, a heated pebble tec pool with water feature, separate heated spa, covered dining patio with gas fireplace and unobstructed views * Home is energy efficient block construction and has been impeccably maintained with complete and recent HVAC, water filtration and pool equipment updates

First Posted 12/31/09, My top Five

NUMBER ONE

39209 Alister McKenzie Drive

Scottsdale, AZ 85262

$7,800,000
NOW $7,500,000
Now $5,895,000

A spectacular piece of architecture with beautiful views. One bedroom main house with staff room, two bedroom guest house. Designed by Charles Johnson, built by Phil Smith.

What the listing agents say/said:

EXTREMELY SIGNIFICANT PRICE REDUCTION (2.2MILL) ON THIS STUNNING ONE-OF-A-KIND CUSTOM ESTATE, SET ON MORE THAN FIFTEEN NATURAL MOUNTAINSIDE ACRES, THIS STUNNING PUEBLO-INFLUENCED ESTATE OFFERS THE UTMOST IN LUXURY LIVING, PRIVACY AND SWEEPING VISTAS. DESIGNED SPECIFICALLY TO SHOWCASE A WORLD CLASS ART COLLECTION, THE RESIDENCE ENCOMPASSES OVER 12,000 SQ. FT INCORPORATING ARCHITECTURAL DISPLAY AREAS, DIRECT AND INDIRECT LIGHTING, MASTERFULLY CRAFTED TO SHOWCASE ANY COLLECTION. THE PROPERTY'S EXPANSIVE OUTDOOR AREAS OFFER UNPARALLED VIEWS IN ALL DIRECTIONS, WITH ENDLESS SKY, BREATHTAKING MOUNTAIN, DESERT AND GOLF LANDSCAPES, AS WELL AS PANORAMAS OF SCOTTSDALE AND GREATER PHOENIX. SEEING IS BELIEVING THIS ONE-OF-A-KIND RESIDENCE.

NUMBER TWO

35630 N. Secluded Lane

Carefree, AZ 85377

$4,300,000
NOW $3,490,000
Off Market

Views from high upon Black Mountain. Double gated, private, and SECLUDED, in the heart of Carefree.

What the listing Agent says:

Views from top of 6.17 acres of Blk Mtn! Enter thru leaded glass doors into Living Rm & immediately take in the unobstructed 180 degree views of the surrounding N. Scottsdale area all the way to downtown Phx. Wide plank wood floors in all main living areas including Kitchen. Family Rm features corner butt-glass windows to enhance the views, wet bar w/ice maker & refrigerator, custom mesquite built-in glass front cabinets for glassware & an entertainment on the adjacent wall. Kitchen has 6-burner gas Dacor cook-top & dbl ovens, 2 Asko dishwashers, 2 warming drawers. Master has 12x10 sitting rm w/fireplace, his & her’s closets, toilet & vanity areas. Downstairs opens onto patio & pool/spa area. Private Guest quarters w/full kitchen & a large Bonus Rm perfect for theater & pool table.

NUMBER THREE

9420 E. Brahma Road

Scottsdale, AZ 85262

$1,495,000
Now $1,295,000
CLOSED $1,100,000

10.99 acre Gerry jones designed and built with valley views. RETREAT!

What the listing agent says:

Absolutely the best lot in Carefree Ranch Homesteads capturing the most incredible & breathtaking views of the mountains, city and desert. Great opportunity to rehab existing house or tear down and build your dream home. An additional 12 acres is available adjacent to lot.

NUMBER FOUR

7612 Horizon Drive
Carefree, AZ 85377
$1,250,000
Pending, Last Listed $750,000
Closed $680,000

Classic Carefree slump block home; on 5 acres, with two pools, 360 views

What the listing agent says:

A RARE OPPORTUNITY TO OWN THIS EXTRAORDINARY RIDGETOP RESIDENCE ON 4.85 ACRES WITH ''BREATHTAKING'' 360 DEGREE VIEWS OF BLACK MOUNTAIN AND THE OTHER SURROUNDING MOUNTAINS. THIS 3 BEDROOM, 3 BATHROOM HOME HAS LOADS OF CHARM AND CHARACTER AND SO MUCH POTENTIAL WITH VIEWS FROM ALMOST EVERY ROOM. LIVING AREA HAS VAULTED WOOD BEAMED CEILINGS AND A 2 WAY FIREPLACE AND A SUNROOM WITH FLAGSTONE FLOORING WHICH CAPTURES THE GORGEOUS VIEWS TO THE NORTH. MASTER SUITE HAS A SITTING AREA AND 2 WALK-IN CLOSETS. THERE IS A SOUTH FACING SWIMMING POOL AND ALSO A SEPARATE LAP POOL AND PLENTY OF SPECTACULAR OUTDOOR ENTERTAINING AREAS PERFECT FOR RELAXATION AND ENJOYMENT OF THIS SERENE PICTURESQUE ENVIRONMENT. HOME TO BE SOLD IN 'AS IS' CONDITION.

NUMBER FIVE

UNDER CONTRACT

9475 E. Mariposa Grande Drive

Scottsdale, AZ 85255

$2,395,000
OFF MARKET NO SALE

Pinnacle Peak 10 acre estate

What the listing agent says:

*JUST ADDED PARCEL 217-05-013-A TO THE LISTING TO MAKE IT 10 ACRES*12,000 SQFT ESTATE ON 10 ACRES OF LUSH N.SCOTTSDALE DESERT HORSE PROPERTY*FORMERLY OWNED BY ROD BECK, CHICAGO CUBS PITCHER*SONORAN LIVING AT ITS FINEST*STUNNING VIEWS FROM EVERY ROOM OF MOUNTAINS,DESERT,& CITY*4 KITCHENS, FORMAL DINING ROOM OF ROYALTY,HUGE FAMILY ROOM, 2 OFFICES, 2 WETBARS, 2 POWDER ROOMS,SEPARATE BUTLER'S KITCHEN, 2 OUTDOOR BARBEQUES, MEDIA ROOM WITH ACTING/KARAOKE STAGE WITH LIGHTS, GUEST QTRS, MAID QTRS, HEATED LAP POOL & SPA WITH RETRACTABLE COVER, TENNIS COURTS, 2 OUTDOOR FOUNTAINS, 8-CAR GARAGE IDEAL FOR COLLECTOR CARS*UPGRADES INCLUDE: TRAVERTINE, FLAGSTONE, SLAB GRANITE, MOVIE SCREEN, ETC,ETC.*DON'T MISS OUT ON OWNING YOUR OWN 5-STAR RESORT*

Chinese News

DOLLAR SHARE OF CHINA FX RESERVES DIVES TO 54% IN JUNE FROM 65% IN 2010
MARCH 01, 2012 

By Tom Orlik

BEIJING (Dow Jones)--China has made a sharp shift away from purchases of U.S securities, slashing the dollar's share of the country's foreign reserves in what may signal a change in strategy for managing the massive cash pile, Dow Jones calculations indicate.

The portion of China's reserves parked in the U.S. appears to have sunk to a decade low 54% as of end-June from 65% in 2010 and 74% in 2006, according to the Dow Jones calculations. The calculations are based on data on China's holdings of U.S. securities from an annual U.S. Treasury survey, and China's own data on the value of its FX reserves.

The exact allocation of China's $3.2 trillion reserves--by far the world's biggest war chest--has always been a mystery. But the Treasury survey provides the best guide as to how much the State Administration of Foreign Exchange--the organization charged with managing those reserves--has invested in dollar assets.

Given the size of China's reserves, and the growing global importance of the world's second-biggest economy, Beijing's allocation of its reserves is both a key political issue and a potentially huge factor for foreign-exchange and sovereign debt markets.

The U.S. data show China's holdings of U.S securities edged up $115 billion on year to $1.726 billion at the end of June, but this equates to a much smaller share of the total as China's reserves were growing rapidly during the period. The purchases of U.S. securities equaled just 15% of the growth in China's reserves, a substantial fall from 45% in 2010 and an average of 63% over the last five years.

Calculating the dollar's share in the allocation of flows into China's reserves is complicated by the impact of currency movements on the value of China's reserves. But even accounting for valuation effects, the downshift in dollar purchases appears pronounced.

The new numbers lend credibility to hints from Chinese and European government officials over the last two years that Beijing is ramping up its purchases of European sovereign debt. In February, speaking at the EU-China summit Premier Wen Jiabao said, "Europe is a main investment destination for China to diversify its foreign exchange reserves."

As the euro-zone crisis rumbles on, it suggests that funds from China's reserves could be a critical factor in keeping a lid on rising bond yields in the debt-ridden euro-zone periphery, and in funding Europe's bailout facilities.

Analysts caution that the U.S. data need to be taken with a grain of salt. The Treasury International Capital system collects data on millions of records to calculate foreign holdings of U.S. securities. But correcting for biases in the data, in particular correctly identifying country ownership of securities held in custody in third countries, is difficult. Typically the result of this bias is to underestimate China's holdings of Treasurys.