Millard Properties: Locations and Ownership

[swedie]

I didn't know that was a gangster thing, to come from money but have your parents somehow blow your fortune with their misguided investments. I thought most gangsters came from poor families and bad neighbourhoods, that was part of what gave them their street credentials. In my opinion, coming from a wealthy family is not how gangsters live, and not why they might steal or kill, in my opinion this is not a valid reason to say someone lived a gangster lifestyle. Again, if anyone lived the 'gangster life' in this saga, it would be MS and MWJ, in my opinion.

His standard of living as far as we know involved him living in a home that was paid for and driving used vehicles, what kind of job do you need to cover that? Again, we have no idea what his actual skill sets were, so it is hard to judge anyone in that regard in my opinion, everyone is useful in their own way. How many housewives had to hear that they had no work skills before society started to realize that it was as difficult and skill intensive as having 5-10 jobs?

I don't know who AL is, but I imagine that a lot more people experience declining business who do not commit murder, than do. I don't think that can be really used as a common precursor to murder, in my opinion.

That's the big question; was DM's family rich? Articles keep repeating this but we've yet to see the proof. Maybe those headlines/claims are what attracted and keep attracting readers. The ultimate question; why would someone with so much wealth steal a truck?

Sadly it seems CM and WM were both worth more dead than alive, at least that's the way I am seeing it at this point. WM didn't have wealth until CM passed away. Then WM invested his wealth in his dream. There are those who look the part (wealthy) but the bank owns everything they have and quite the opposite. Then there are those who look the part and actually own the part and vice versa kwim.

DM and his father lived a pretty frugal lifestyle according to some and DM himself indicated that. Maybe DM was in the wannabe class of gangsters? In trainer and learning the ropes, not full fledged yet? Was a new upcoming breed of gangsters. You know, the ones who just don't fit the stereotypical role. Kingpin? :dunno: All JMO.

Everyone knew the Millard name. But flaunting wealth was never the Millard way.

Wayne was known to drop in on local airstrips to talk shop with mechanics, usually pulling up in a beat-up old Chevy van. Occasionally, he'd land in one of his personal planes.

One hobby pilot at the Guelph airstrip met Wayne a few years ago. He remarked to a friend at the time the man looked like "a bum," before realizing who he was talking about — one of most successful, independent entrepreneurs in Canadian aviation.

http://www.therecord.com/news-story/3251642-millard-s-strange-downward-spiral/

At a school where most students had rich parents and wore trendy outfits, Mr. Millard wore clothes more befitting a farmer. His father used to drop him off in an old pickup truck.

http://news.nationalpost.com/news/c...-was-always-a-little-different-classmate-says

“I shop at Costco. I don’t buy expensive clothes. I’m a bargain hunter. I have one Hugo Boss suit,” he says.
To an outsider, Millard lived a life of leisure. Raised as an only child by divorced parents, he dabbled in various careers but never committed himself to one.

http://www.thestar.com/news/gta/201...didnt_kill_tim_bosma_exclusive_interview.html

 

[SnooperDuper]

I don't think WM had much of a head for business. The $1.4M that he got for the Toronto hangars inspired a $6.4M plan to build a new one in Waterloo which ended up costing $9.5M due to cost overruns because neither DM nor WM could be a responsible project manager.

I think DM knew that WM was blowing the family fortune, and regardless of the quantitative wealth left DM felt relatively poor.

 

[Alethea Dice]

People can't seriously believe that, if the family was rich in property but poor in mortgages, that any bank or other financial institution would even consider lending either themselves or the business millions more for a hangar with no collateral and perhaps even a requirement for some life insurance on the loan.

JMO

 

[hopingforjustice]

People can't seriously believe that, if the family was rich in property but poor in mortgages, that any bank or other financial institution would even consider lending either themselves or the business millions more for a hangar with no collateral and perhaps even a requirement for some life insurance on the loan.

JMO

BBM

Was this perhaps done, but with the original declaration of suicide, a payoff denied? Guess that would all depend on fine lines of the policy. Perhaps the reason to liquidate properties quickly to keep the banks at bay? JMO MOO

 

[swedie]

I don't think WM had much of a head for business. The $1.4M that he got for the Toronto hangars inspired a $6.4M plan to build a new one in Waterloo which ended up costing $9.5M due to cost overruns because neither DM nor WM could be a responsible project manager.

I think DM knew that WM was blowing the family fortune, and regardless of the quantitative wealth left DM felt relatively poor.

What is pathetic about this whole thing is it wasn't even DM's money. Sounds like DM wasn't even trying to earn his keep nor did he try and get the MA off the ground. He sabotaged it from day one and a good example of that was his meeting with AS.

It's too bad WM didn't realize his son was riding on his coat tails and had no interest and ambition in carrying on the family legacy. DM wanted to live the lifestyle of the rich and famous without earning it. WM should have booted DM to the curb in 2007, after CM passed away and WM should have removed DM from his will. DM knew what he was doing when he chose to stay with his father after his parents divorce. Chances are MB wouldn't have put up with DM's nonsense. Maybe he did live with her for a stint and she booted him out. :dunno: All JMO.

 

[Kamille]

People can't seriously believe that, if the family was rich in property but poor in mortgages, that any bank or other financial institution would even consider lending either themselves or the business millions more for a hangar with no collateral and perhaps even a requirement for some life insurance on the loan.

JMO

I seriously believe, that for the same reason that banks scramble to lend average people with no substantial collateral money for mortgages on houses, the bank would consider the hangar itself the collateral and perhaps the 1.4 million that MillardAir had just acquired from the sale of the old hangar as a suitable "down payment". Don't know what they got for the sale of the new hangar but technically, the bank owned it. If there was any $ left after repaying the loan, then that would be what went to the liquidation coffers. Something tells me there may not have been much, if any extra money. So at worst, on just the building alone, they may have lost whatever money they put up in the beginning to secure the deal on a loan.

Most likely WM was using family coffers to get the business off the ground and pay the employees until it started to turn a profit, which is what DM likely had issue with.

MOO

 

[SnooperDuper]

I seriously believe, that for the same reason that banks scramble to lend average people with no substantial collateral money for mortgages on houses, the bank would consider the hangar itself the collateral and perhaps the 1.4 million that MillardAir had just acquired from the sale of the old hangar as a suitable "down payment". Don't know what they got for the sale of the new hangar but technically, the bank owned it. If there was any $ left after repaying the loan, then that would be what went to the liquidation coffers. Something tells me there may not have been much, if any extra money. So at worst, on just the building alone, they may have lost whatever money they put up in the beginning to secure the deal on a loan.

Most likely WM was using family coffers to get the business off the ground and pay the employees until it started to turn a profit, which is what DM likely had issue with.

MOO

I'm always blown away by the fact that WM spent $30k to publish CM's long rambling obit in the Globe & Mail. It's like the MRO/hangar project was a big dollar project to honor CM, or the legend in aviation WM believed he was. Money was no object. Maybe WM drank to deny the fact that he could ruin the family name through a bankruptcy.

 

[swedie]

I seriously believe, that for the same reason that banks scramble to lend average people with no substantial collateral money for mortgages on houses, the bank would consider the hangar itself the collateral and perhaps the 1.4 million that MillardAir had just acquired from the sale of the old hangar as a suitable "down payment". Don't know what they got for the sale of the new hangar but technically, the bank owned it. If there was any $ left after repaying the loan, then that would be what went to the liquidation coffers. Something tells me there may not have been much, if any extra money. So at worst, on just the building alone, they may have lost whatever money they put up in the beginning to secure the deal on a loan.

Most likely WM was using family coffers to get the business off the ground and pay the employees until it started to turn a profit, which is what DM likely had issue with.

MOO

And that makes perfect sense Kamille BUT IMO if DM had issue with what his father was doing with his own money and DM had no interest in the business (and he didn't) he should have walked away, and left it all fall into WM's lap. That is what sensible, normal, offsprings would do. They would have made their own career choices and moved on. Apparently DM wasn't sensible or normal. He was only interested in living on easy street by robbing his father of his life and robbing him on his money. Heartless, selfish and pure evil IMHO.

Karma caught up with him. :jail:

 

[swedie]

I'm always blown away by the fact that WM spent $30k to publish CM's long rambling obit in the Globe & Mail. It's like the MRO/hangar project was a big dollar project to honor CM, or the legend in aviation WM believed he was. Money was no object. Maybe WM drank to deny the fact that he could ruin the family name through a bankruptcy.

BBM - Or drank to deny who his son was? MOO.

 

[Alethea Dice]

I seriously believe, that for the same reason that banks scramble to lend average people with no substantial collateral money for mortgages on houses, the bank would consider the hangar itself the collateral and perhaps the 1.4 million that MillardAir had just acquired from the sale of the old hangar as a suitable "down payment". Don't know what they got for the sale of the new hangar but technically, the bank owned it. If there was any $ left after repaying the loan, then that would be what went to the liquidation coffers. Something tells me there may not have been much, if any extra money. So at worst, on just the building alone, they may have lost whatever money they put up in the beginning to secure the deal on a loan.

Most likely WM was using family coffers to get the business off the ground and pay the employees until it started to turn a profit, which is what DM likely had issue with.

MOO

I actually agree to an extent. My impression was that MillardAir made the initial investment and loans covered the amount that it went over budget.

MillardAir obtained a building permit for a $6.4 million hangar.

http://www.therecord.com/news-story/4485947-big-hangar-bold-plan-total-disaster-inside-the-secret-millard-negotiations/

Then, when it went over budget, bank loans covered the balance for the tools and staff needed to get the certification.

http://news.nationalpost.com/news/millard-aviation-business-in-decline-long-before-tim-bosma-murder-suspect-started-to-dismantle-it

So, if that was the case, it would all depend on how much the bank loan was and how much the hangar sold for. If they managed to get the $6 million that the building permit was approved for, and the other $3 million was the over budget, then the bank gets their $3 million and MillardAir loses $3 million of their initial investment. And just for clarification, I do realize the actual numbers could be much worse or slightly better depending on the financial arrangements and what the hangar sold for.

JMO

 

[Alethea Dice]

I'm always blown away by the fact that WM spent $30k to publish CM's long rambling obit in the Globe & Mail. It's like the MRO/hangar project was a big dollar project to honor CM, or the legend in aviation WM believed he was. Money was no object. Maybe WM drank to deny the fact that he could ruin the family name through a bankruptcy.

Obviously, he wasn't always frugal.

JMO

 

[swedie]

BBM

Was this perhaps done, but with the original declaration of suicide, a payoff denied? Guess that would all depend on fine lines of the policy. Perhaps the reason to liquidate properties quickly to keep the banks at bay? JMO MOO

Hmm I am suspecting the suicide clause was included and something DM knew or looked into before he allegedly murdered his father. Otherwise he would have set up WM's death to look like an accident. DM was obsessed with getting his hands on his inheritance IMO.

 

[swedie]

Obviously, he wasn't always frugal.

JMO

Perhaps because it wasn't his money to be frugal with? Did CM's estate money paid for his own obit? Could it have been CM planned and paid for his own funeral and obit? If not, it's the least WM could have done for his father, the person who left him millions to invest in Dellen's Project. CM faired much better by his son then WM did. Truly pathetic. MOO.

 

[Kamille]

I actually agree to an extent. My impression was that MillardAir made the initial investment and loans covered the amount that it went over budget.

MillardAir obtained a building permit for a $6.4 million hangar.

http://www.therecord.com/news-story/4485947-big-hangar-bold-plan-total-disaster-inside-the-secret-millard-negotiations/

Then, when it went over budget, bank loans covered the balance for the tools and staff needed to get the certification.

http://news.nationalpost.com/news/millard-aviation-business-in-decline-long-before-tim-bosma-murder-suspect-started-to-dismantle-it

So, if that was the case, it would all depend on how much the bank loan was and how much the hangar sold for. If they managed to get the $6 million that the building permit was approved for, and the other $3 million was the over budget, then the bank gets their $3 million and MillardAir loses $3 million of their initial investment. And just for clarification, I do realize the actual numbers could be much worse or slightly better depending on the financial arrangements and what the hangar sold for.

JMO

I'm not sure MillardAir would have had 5 million in their coffers to pony up the balance of the 6.4 million dollar initial permit. After the disposal of the Toronto hangars at 1.4 million of course. I think a good portion, if not all of that was borrowed money as well.

The company had not been operating as a thriving business for years prior to CM's death. I think he was just selling off planes and parts during his final years to keep the company going and have somewhere to spend his days. After his death, the only income MillardAir was garnering was the rent from the hangar to Air Transit. Once that was sold in 2011, I guess MillardAir was garnering no income and incurring debt with the new project.

So other than the rental income from the Riverside Dr 6-plex, neither WM or DM were generating any income after the death of CM in 2006. But they appeared to be spending a lot on real estate alone.

I would think an official accounting after all assets were disposed of would not be as high as we might think. And it gets pretty complicated when you factor in that DM may not be entitled to anything he inherited from his father and unless MB was in his will as the next in line, neither does she. It might be possible that the courts have put a hold on some of those funds while trying to sort it out?

But DM should have access to any funds from disposals that were in his name only and not filtered through MillardAir or listed under joint ownership with WM. I would imagine that would include some of the real estate like the farm, the 2 condos and the toys in the hangar that were not listed as being owned by MillardAir.

Seems very convoluted. And they must be paying lawyers and accountants to sort all that out as well as paying lawyers for the three murder charges.

:waitasec:

MOO

 

[SnooperDuper]

They featured the hangar on the CTV 6:00 news tonight. They showed the building with the big doors open and welllll there is no hiding anything in that building: it's just one big open space. Even though the hangar was "empty" there was a lot of equipment: maintenance vehicles, piles of ladders/scaffolds and so on. If you had a Sanford & Son-esque collection of old vehicles and old planes, it would clutter up the space quite a bit IMO.

Chartright says they will be operating from the hangar within 2-3 weeks...the deal just closed a week ago. The hangar was declared fit for occupancy Feb. 23, 2012 so it will have only taken 3 years, 3 months to get this business rolling.

 

[swedie]

They featured the hangar on the CTV 6:00 news tonight. They showed the building with the big doors open and welllll there is no hiding anything in that building: it's just one big open space. Even though the hangar was "empty" there was a lot of equipment: maintenance vehicles, piles of ladders/scaffolds and so on. If you had a Sanford & Son-esque collection of old vehicles and old planes, it would clutter up the space quite a bit IMO.

Chartright says they will be operating from the hangar within 2-3 weeks...the deal just closed a week ago. The hangar was declared fit for occupancy Feb. 23, 2012 so it will have only taken 3 years, 3 months to get this business rolling.

And justifies why AS had concerns about bring in business/getting contracts. Perhaps AS was working hard at getting those contracts, but realistically he had to be honest with those interested. AS would have to let them know DM was running an auto repair shop, car collection storage there as well. I would imagine he had pictures/videos to show perspective customers and they could very well see what was inside the hangar. No wonder customers were holding off on signing on the dotted line. People are wary enough about entering into contract agreements as it is. Why would anyone risk signing up for something they don't approve or agree with. We're not talking peanuts in this case either. DM screwed that possibility up and sent himself on a downward spiral in MO. He was and is his own worst enemy. JMO.

“I thought he was just a spoilt little brat who had his way all his life and didn’t appreciate what his father was doing for him,” said Mr. Sharif. “He was an impediment to the hangar operation” who didn’t meet his deadlines, almost never arrived at work before noon, and refused to clear his collection of cars, jeeps, hot rods, jet skis and personal airplanes from the business premises.

Things came to a head one day last November when Mr. Sharif, who lives in Austin, Texas, paid a visit to the new hangar and Dellen questioned him as to why no contracts were yet in place for the new Millardair aircraft maintenance and repair business.

Mr. Sharif responded that until the facilities, estimated to have cost some $6 million, could be toured by potential customers, no deals would be signed. As the situation grew heated, Dellen suggested that they discuss their differences in private over dinner that evening.

http://news.nationalpost.com/news/m...-bosma-murder-suspect-started-to-dismantle-it

 

[swedie]

Millardair's name is now gone, replaced with Chartright Air Group. They do have adventurous plans to grow and potential to build another facility. Their plan is to hire at least 40 full time employees.

If they can do it, no excuse why DM couldn't have done it. Of course unless he lacked ambition and the smarts to make it happen. Perhaps he saw dollar signs and wanted instant gratification and wasn't willing or interested in making an honest effort. MOO.

Congratulations Chartright and best wishes. May your soar high. :fireworks: MOO.

Video at link
http://kitchener.ctvnews.ca/hangar-once-owned-by-dellen-millard-gets-new-tenant-1.2308604

http://www.chartright.com/Resources

 

[SnooperDuper]

Here is the clip from CTV news that shows the current state of inside of the hangar. Looks like they are doing a bit of renos to the office area?

http://www.ctvnews.ca/video?clipId=605285

 

[swedie]

Here is the clip from CTV news that shows the current state of inside of the hangar. Looks like they are doing a bit of renos to the office area?

http://www.ctvnews.ca/video?clipId=605285

At 1:10 into the video it shows old footage and there is a flat bed truck hauling away a trailer on the bed plus a covered trailer. Wonder if the covered trailer is the one that belonged to MM? Wonder who owned the other trailer?
Here is another picture.

 

[Alethea Dice]

Millardair's name is now gone, replaced with Chartright Air Group. They do have adventurous plans to grow and potential to build another facility. Their plan is to hire at least 40 full time employees.

If they can do it, no excuse why DM couldn't have done it. Of course unless he lacked ambition and the smarts to make it happen. Perhaps he saw dollar signs and wanted instant gratification and wasn't willing or interested in making an honest effort. MOO.

Congratulations Chartright and best wishes. May your soar high. :fireworks: MOO.

Video at link
http://kitchener.ctvnews.ca/hangar-once-owned-by-dellen-millard-gets-new-tenant-1.2308604

http://www.chartright.com/Resources

To be fair, Chartright has been a well established company for over 20 years and which is now expanding. And also it will not actually be doing the same thing that WM had planned. However, I do congratulate them on their acquisition and hope it helps Waterloo and the airport attain some of their aspirations.

JMO