Pukin dog, you make some good points and I thank you for your feedback . Sorry to take so long to respond, I am currently in Aruba on vacation.
I do take umbrage, however, to your supposition that when it comes to hiring and keeping staff, my main motivation is parsimony .
I don't like to talk much about myself really, but this one hits close to home . You see, I too am a captain, only of the military variety .I'm in the reserves now and about a year out from making Major .you see, the United States army taught me everything I will ever need to know about the topic you are speaking of....we call it soldier care. I am currently the company commander of my unit, and I have to look after the care and feeding of my troops .this involves morale, discipline, and helping them achieve their goals as well as mine. My unit cannot achieve it's goals without the morale being sufficiently high, and thanks to the army, I am an expert in keeping my people happy while achieving my mission .
I know, it's weird, but some of us multimillionaires have a penchant for serving our country. I am also proud of treating my employees like I want to be treated, which is why I am where I am.
Next, another poster made mention of mechanical skills and aptitude. It is assumed that someone on my position is a check writing administrator with enough mechanical skills to work a ballpoint pen . In fact, although I did not make my money this way, I am a 25 year master Porsche engine rebuilder. I am the only one in the world who makes replacement legacy engine cases. Not even Porsche makes these. Oh, and mine are better and I have earned three patents for air cooled engines and am widely considered an expert in internal combustion performance engines .
Which means jack when it comes to airplane motors, but even so, it will be very, very hard for someone to pull the wool over my eyes when it comes to repairs. Thanks to the army, I can read and interpret government regulations
Think airplane maintenance regs are bad, try the ucmj . Lastly, I can hire mechanics, obtain wholesale accounts and buy parts and figure it out. I'm not worried.
However, all the valuable info on this thread has taught me a humbling fact: I cannot afford this proposition at this time. Yes, even me. I make 2m per year, live in a 5.3m house and have 17 cars. Buy you know what? Based on the data you have all given me, this airplane ownership thing makes no financial sense.
And I owe you all for showing me that. And I appreciate it . Just be real careful about the assumptions you make when gauging motivations; your enemy may not be as two dimensional as you think......military axiom .
Thank you .
The Captain