[ProfessorDave]

OMG! I should have thought of this. All of your logic fits! I've had experience taking very large public companies private - and large private companies public - and - you nailed it. How did I miss that? My thoughts were buried in the weeds. Thanks for sharing...

Some of the the responses to your thoughts are typical of this site. For example, in what way do you thoughts "discredit" the Morse family? They don't. Most billionaire family's at some time do things to make it easier for family members more flexibility in their longer term investments. The Walton's is a great example.

I'm also recognize that there are consistent contributors who resent any negative thoughts shared. To me - that is so naive, and not very "democratic" in the logic. For example - on the one hand, I thank God every day that I was born in the United States; I thank God everyday I found The Villages by accident. I thank God every day that my early career foundation began at Johnson & Johnson. HOWEVER, none of those are perfect - and by a God given ability to apply "critical thinking" - I constantly questioned lots of things they did. Frankly, the Founding Fathers of our country deliberately set up our form of government precisely to insure "HEALTHY TENSION" - because without it, you have less optimal results.

Therefore, with all due respect, those who want to be ostriches... defend the Morses on every challenge anybody has - enjoy the darkness. And for everybody who sees the Morses as the enemy of the people, hopefully that agony is fulfilling in some way.

To me - some of the Morse's approach (process) I've witnessed in the past year especially is disappointing. A society is not purely based on "if I own it - I can do anything I want" which is such a naive view of how societies work and function. (PS: the father of capitalism - Adam Smith - didn't even believe that!)

In summary. The original post sheds some extraordinarily insight hypothesis on the "drivers" behind recent decisions. The hypothesis is just that - a "best guess" - BUT - it is a very plausible best guess - which is why I find it interesting, whether true or not. I dislike some of the strategic decisions the Morse family has made - and as importantly - how they communicated them - and the perceived attitude of arrogance they demonstrated. For me, that means a) I trust them less, b) I'm less likely to refer friends and family to move here - or - be even more careful where in The Villages they move, but c) I personally still find this to be by far my best option for living the rest of my life on this earth. I don't find any of that incongruent. But in the "black and white" thinking society we live in, I'm sure that some reading this post think it is intellectually incongruent.