Again I am referring to this NP article I find chalked full of telling information. The bolded part makes me wonder,
how much the bank loaned to Millardair? Obviously it would
not have been peanuts so to speak. WM had to turn to the bank to borrow money for
tools and payroll??!! :O It makes perfect sense to me now. Millardair
is belly up if this bolded part is true. WM
maybe had enough money to invest in the hangar which far exceeded costs. He needed financial aid from the Waterloo regional council to upgrade/improve the runway. Yes the coffers had run very low just before WM's death. Sounds like a total train wreck IMHO. WM's big dreams came crashing down like a house of cards. I feel so much tension and turmoil was going on over the new hangar, not only between father and son, but most involved with Millardair. It probably could have turned out to be a profitable business if
someone would have cooperated, been optimistic, determined, ambitious and patient. I can see now why WM may have committed suicide OR DM murdered him.
Now the questions, where did DM get the money from to purchase condos and farmland?
*Did DM sell of tools/equipment/planes to make some money?
*DM could have borrowed money from the bank for the business, but in turn used it to purchase properties OR did the bank refuse to loan Millardair any more money?
*Before his death did WM gave DM money (DM earned it or not), to purchase the farmland? I think so, as a nest egg so to speak.
*Did WM give DM a lum sum which was to be used to purchase land and build a house?
*Did DM over spend on land, therefore didn't have enough to build a house on the land? Then changing his mind preferring a condo in a big city over country life? Or was he wanting the best of both worlds? So why not build a house on the farmland instead of buying another condo?
*Did DM purchase that last condo with the last bit in the business coffers/money borrowed from the bank which was suppose to buy tools and pay employees?
*Was DM really financially set (as per DP's claim) he didn't need to steal TB's truck, he could have purchased one? Or did it have nothing to do with money but done out of thrill/greed/or accidental?
*Sure we could say DM could have at anytime sold off those properties, but IIRC he was renting one condo out, making some income and it was an investment. If DM had no income, the rent would have been his only source.
*Was DM in arrears with the bank or Revenue Canada? Should he have sold the properties, creditors/government would have taken any proceeds to pay debts/taxes.
*Did DM try to sell off any of the properties but got no offers?
Again, the hounds would have been at the door to take it. I will not be surprised in the least to find out DM was flat broke, owing money and was purchasing these properties to
"hide" money. As to why he didn't put properties into his mother's name for safe keeping is anyone's guess. I will not be surprised to find out if there were negative issues between mother and son. Being as the Millards are known to be private people, maybe DM felt it was none of his mother's business to know his financial status. All JMO and so many unanswered questions.
Dellen began asking Mr. Sharif about the value of the company and why his 71-year-old father, Wayne Millard, should continue to fund a venture whose costs already far exceeded the original estimates. “He advised [me] that the family coffers were running low and that he was very apprehensive to keep pouring money into the facility,
Millardair won the support of the local airport authority and convinced the Waterloo regional council to invest in runway improvements to accommodate larger jets. When things went over budget, bank loans provided funding for the tools and staff needed to obtain key Transport Canada certification, which came through on November 1, 2012, just before Wayne’s death.
http://news.nationalpost.com/2013/0...bosma-murder-suspect-started-to-dismantle-it/
Heading over the the properties thread Saturday/Sunday to do some reading. Hopefully find answers to my questions.
