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Executive suit
San Diego Regional Airport Authority board member Bill Lynch is getting more than a bit of personal education in the pitfalls of running an aviation-related business. Back in November 2001, according to a recently filed case in San Diego superior court, Lynch's company, Lynch Air LLC, signed a contract to buy a 1979 Dassault Falcon, a two-engine executive jet, for $1,575,000. Lynch Air then agreed to lease the plane to a charter outfit called ExecJet, Inc., for 15 years at $10,937.50 a month. But, the suit alleges, ExecJet, a successor firm called EliteJet, and their principal, B. Scott Walker of Del Mar, stopped making the payments on July 1, 2003, and have "failed to pay since." The suit also complains that Walker failed to maintain the plane, forcing Lynch to come up with $454,521.44 worth of "repairs and maintenance," along with $11,000 or so in back taxes, as well as other miscellaneous costs. Lynch, the suit says, re-leased the Falcon to an outfit called Object Development Corp., which records show to be a software business in Orange County, in November 2003 for $6000 a month. According to documents filed in the case, Walker no longer lives in San Diego County and was served at an address in Overland Park, Kansas. Lynch was named to the airport board (which is putting together a proposal for expanding and perhaps moving Lindbergh, to appear on the November 2006 county ballot) by his close friend Sheriff Bill Kolender in November 2002. He gets paid $139,000 a year in that job and has said he contributes the money to his personal foundation.
Here's something you might be interested in.
Executive suit
Executive suit
San Diego Regional Airport Authority board member Bill Lynch is getting more than a bit of personal education in the pitfalls of running an aviation-related business. Back in November 2001, according to a recently filed case in San Diego superior court, Lynch's company, Lynch Air LLC, signed a contract to buy a 1979 Dassault Falcon, a two-engine executive jet, for $1,575,000. Lynch Air then agreed to lease the plane to a charter outfit called ExecJet, Inc., for 15 years at $10,937.50 a month. But, the suit alleges, ExecJet, a successor firm called EliteJet, and their principal, B. Scott Walker of Del Mar, stopped making the payments on July 1, 2003, and have "failed to pay since." The suit also complains that Walker failed to maintain the plane, forcing Lynch to come up with $454,521.44 worth of "repairs and maintenance," along with $11,000 or so in back taxes, as well as other miscellaneous costs. Lynch, the suit says, re-leased the Falcon to an outfit called Object Development Corp., which records show to be a software business in Orange County, in November 2003 for $6000 a month. According to documents filed in the case, Walker no longer lives in San Diego County and was served at an address in Overland Park, Kansas. Lynch was named to the airport board (which is putting together a proposal for expanding and perhaps moving Lindbergh, to appear on the November 2006 county ballot) by his close friend Sheriff Bill Kolender in November 2002. He gets paid $139,000 a year in that job and has said he contributes the money to his personal foundation.
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