Greg, thanks for sharing this info sounds like you been around this alot.    I know leasing of helos is very popular and many helos in the gulf are leased.  Heck I had thought the 135 was dual pilot IFR but found out differently always learn something on NAT, haha.    One friend flys an Agusta 109 and they are not real impressed with it other than the speed.  The mechanic hates it too.   I personally like the old Longrangers my self still great helos.  407's are fast also as Sheridan Wy has one. But our area is serviced with the 135.     You sure are right the bigger the company the more layers of mgt. and people behind the scenes that all need to get fed one way or another, and I bet your right that most hospitals do not have 135 Op Certs. either.    But all in all I still think they have their place and do save some lives.  Thanks for sharing !   I hope I never need to ride in one of the damn things !