bobbysamd,
my friend, I can understand where you are coming from on this issue since you have seen it happen to you but I tend to think that this is not the norm with regards to this issue. I have seen many pilots who were much older be successful in getting to the regional level, MAPD has taken many career changers in the late 30's and 40's and they have placed them in the RJ. Back in 97" Gary Lightfoot** who was in his early 40's at the time, very little flight time, etc, went through the program and he is now the asst. chief pilot at Freedom Airlines. I have seen many others in his exact same position (career changers) do the exact same thing at Mesa and at other regionals. I tend to think that "luck" has some leverage here but surely age shouldn't be a factor to stop someone from pursuing their dream. I would be willing to bet the farm that if you got current again, brushed up in the knowledge areas, etc, that you could be successful in making it to the regional or corporate level. I have not a doubt in my mind on this one. I would absolutely love to pursued and convince you to get back into this industry since you obviously have the love, desire, and drive to succeed, but I realize the likelihood of this happening is probably the same as McCain accepting the VP nomination from Kerry. It is extremely unfortunate in my opinion that you were not able to get to where you wanted to get to in this industry but it is not too late. It would be an absolute pleasure to share the flight deck with you and to hear your many stories.
I think that if you looked at the ages of new hires all across the board in recent times/classes that you would see that many older guys/gals have been hired.
Since I am sure I cannot talk you into making a second attempt at this industry I will settle for the knowledge, wisdom, experience, etc, that you bring to this board. Doesn't seem like a bad consolation prize.

Next time in the Denver area the beer/BBQ is on me.
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disclaimer.....
** I realize he was among the "original" group that crossed over and in no way, shape, or form do I support what he did, etc, to the good group of pilots at Mesa. I have/had no affiliation to Freedom or to him other than a few encounters with him out west.