Eight years ago, Vern Raburn, president and CEO of Albuquerque-based Eclipse Aviation, made the biggest gamble in light jet aviation since Bill Lear introduced the Learjet 23 in 1963. Raburn bet that folks would buy hundreds, if not thousands, of twin turbofan aircraft if they could be sold for less than $1 million. Best known outside aviation circles as a high-tech industry entrepreneur, Raburn is a strong believer in price elasticity, a concept he claims is often ignored in general ...

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