Article about Billionaire Gary Morse
 

Check out todays article about Gary Morse. very interesting story about himself and The Villages

Businessweek - Business News, Stock Market & Financial Advice

I read it but that bond stuff left me dizzy. Never did follow it. Those dollar figures are over my head. I did have to respect him for his ingenuity on how to make a profit yet providing such a wonderful place where so many people find joy.

Really good article, thanks!

Article
 

Bravo to him!!! It takes money to make money along with some good timing..he created a lot of happiness.

I couldn't link to the story with the above hyperlink, but found it here.

Hidden Billionaire Morse a Man Behind Curtain at Villages - Businessweek

Thanks Jane...and Richie. I couldn't link either but your link works RichieLion.

And Thank YOU Gary Morse if you are reading this. We G's would have never realized this part of our life could be the best... but thanks to your family's hard work, and your ability to see Shangra La in this not very interesting part of Florida, these Golden Years of ours are now set with diamonds. Your careful planning, including putting the right people in the right jobs and expecting nothing but the best from them and your careful risk taking let us share the fruits of your brilliant concept.

Live Long Gary Morse and continue to prosper.

And hugs from

Gracie

Hidden Billionaire a Man Behind Village Curtain - Businessweek

try this one

Interesting article. Nothing new there, though. There do seem to some underlying hints at greed and ethic questions. I will admit I have never liked the idea that boards in TV were always 100% Morse employees. That just never seemed right to me.

I can't say I'm particularly grateful to the Morses or even Schwartz. I do believe there was great vision and a marvelous ability to turn that vision into reality. It wasn't done for some altruistic dream -- it was done to make money and the Morses have done that quite well. This takes nothing away from TV and our love of TV. To me, loving TV doesn't mean I have to love the Morses or even be particularly thankful to them. I thank them daily every time I open my purse and purchase something. Kudos to the Morses for showing the American dream is still alive and well.

the future
 

G Morse is 75. I sure hope he is VERY careful with the future of The Villages. I know the 3 kids have divvied(sp?) up the areas to run but also know that once they get older or health gets in their way then the next generation gets involved etc. Human nature and greed could sure cause some problems. I know this is all speculation but you have to remember I am still the Wannabe and want the place to remain WONDERFUL for many years to come.

Another thought about greed? I can't know the heart of the Morses but perhaps altruistism and greed both play a part. I just say that because I often have mixed intentions in my own heart over matters. Just sayin.

Love the Villages!

"'He’s kind of like the Wizard of Oz,' Andrew D. Blechman, author of 'Leisureville,' a book on retirement communities, said in a phone interview from his office in Great Barrington, Massachusetts. 'He’s the man behind the curtain. No one really knows him at the Villages.'” from Businessweek article.

I see that Andrew D. Blechman is back from Germany. He had been living there writing on some towns in Germany. Andrew D. Blechman - author of LEISUREVILLE and PIGEONS Magazine - What’s Eating Germany - The Atlantic

Interesting article. I would be fascinated though with what kind of plans for the future the Morses have once the building is over.

Whoa.

I am a capitalist. THERE IS NO SIN in being successful financially. but there is a lot of class envy going on here and you can quickly tell a persons political leanings by how they react to the Morse family.

In building it's fortune the Morse family also changed a seriously poor county in Florida into one of it's best in terms of employment and business. And...if you build a better mouse trap is not the same as robbing from the poor.

Gary Morse could be a really corrupt person, I certainly don't know him personally, few do, but I see hundreds of ways that he could easily have given us less and made more money. The next time you are in any of the rec centers, regional, neighborhood, just lift one of the card chairs in the meeting rooms. Wait, before you do that, look around at the room and see all of the really expensive things hanging on the walls, the too many chandeliers on the ceiling, the unusual and high end floors...than lift the heavy chair that matches the decor of the building. It could have been a folding chair and he could have kept the money.

If you have played golf all of your life as many of us have, than you know the expense that it entails. If you are a golfer you know what is offered here, enough said on that. If you are aware of landscaping and the cost to maintain it, than look at the lush places, blooming waving, and dazzling with their color and the flowers changed out every six weeks.

Gary Morse is a very rich man. I know some rich folks and it seems that they got rich by getting up early and working hard.

I admire the Morses too in creating the Villages. They took a tract of cow pasture and made it into a Disneyland for Seniors.

I agree with ssmith. Although unlikely, suppose the generation after this one takes over and says "No more free golf?" Or suppose they start playing Rap Music through the towns? Suppose this generation evicts people like Redwitch who don't bow down and pray to the the Almighty Moss God. We don't have to worry too much because in another 30 years or so, most of us will be dead and it won't matter.

Gary seems to be in great health and although he is a private person, he has to feel proud about his accomplishments. I've said this before. "Wonder if Gary checks in to TOTV once in a while just to see what people think of him."
I would.

The Morse family had the vision to make The Villages as wonderful as possible and they certainly have succeeded. I cannot imagine a better place to live.

As for them making money - more power to them, I say. I know they make money off of my visits to restaurants, shops, and other Village places but I do not begrudge them one bit.

Amen Bro:$::$:

Implications
 

Thanks for the post - good article.

Have not seen these questions asked .....

What are the implications to Villagers if the State of Florida & IRS challenges are successful? Who would pay any taxes due? Could Villagers be "assessed" to meet the obligations if they are deemed due by the "Districts"? Who would vote on the validity of that assessmment...the same friends & family?

Neither do I. I'm just not grateful to them for them making the money. I figure my willingness to spend money in TV is enough thanks to the Morses. I appreciate TV but, to me, the best thing here are the people who live here -- it was built the way it was to make money and more power to them for succeeding. And now I'm gonna get ready to have some fun and enjoy my life here.

Kudos to you Gracie!! I so agree with you and don't understand why "some" are so suspicious and negative about the Morse family and blah, blah, blah. This kind of discussion has gone on before and frankly it's been hashed and rehashed. Alot of folks try to rub two nickles together to make more cash....some are greatly successful and others are not for whatever reason. Our country was founded on "Free Enterprise" and many are knocking at it's doors to come and try to find their dream here in the U.S. Mr Schwartz had an idea and ran with it...then his kids came along and took it further to what we have today. I personally love it here and am thankful each day for the blessings AND privilege we have to live here. IF these folks who are disparaging don't like it here, perhaps there is a better, more reasonable place to live. Just saying.........

Can anyone explain what this quote entails and whether it implies new development? "Morse and his family own 40 percent of Lazy B Cattle Ventures LLC. Current and former employees own the rest of the cattle farm, which uses some of the Florida land near the Villages that Morse plans to develop, according to the IRS."

By the number of your posts, you must be new to TOTV.
Yes these questions have been asked many, many times on TOTV. Hundreds of posters have speculated, given their opinions....without the factual answer.
You can visit these sites or do a search on TOTV to form your own opinon.
Village Community Development Districts
Property Owners, Association of Florida
The Villages Homeowners Association

I believe the persons/entities that purchased the bonds would owe back taxes on any income derived from the bonds. That would probably cause these persons/entities to bring legal action against the original seller of the bonds to recover their losses. The bonds would be recalled and re-issued as taxable bonds (meaning the districts would pay more interest than they did on tax free bonds). It may not be such a bad thing since interest rates are probably much lower now than when to original bonds were issued.

we are no more beholding to Gary Morse for making the TV anymore than we are to Jeff Immelt (CEO GE) for making our cook top and washer and dryer....however we do live exceptionally well here because of the results achieved in the way they went about presenting a product that we all enjoy so very much and is pretty much without comparison world wide.

To provide that product and become wealthy in the process is the American way. I am particularly impressed ever since I first met him and many of his family members at the low profile that they keep. I am also impressed with the fact they have elected to live here with us.

As for the subject of greed....why does it always seem to surface when talking about the wealthy? When greed is so much a part of everyone of us in varying degrees. I never met anyone....wealthy or not....who did not want to earn more, have more. The worst kind of greed in my opinion is in the hearts of those who begrudge those who have more than they do.....and especially of the wealthy.

Congratulation to Gary Morse for continuing his father's vision.....which those who follow Gary will do like wise. Why wouldn't they? Why quarrel with success?

btk

I have not read the article yet -- where is the Lazy B Cattle farm in relation to TV?

Once again the press has been confused by the unusual nature of the structure of TV and printed an article with misinformation and unfounded innuendos. Then again, Fear, Uncertainty, and Doubt sells newspapers.

• No state government has the authority to grant federal tax free status to anything, including bonds issued by municipalities within its boundaries. The Florida statute 190 which authorized the establishment of Community Development Districts allows them to simply issue bonds. It’s up to the CDD that issues the bond to establish them as federally tax free if they feel they are qualified.
• The 10 numbered CDD’s that comprise all of the residential homes and common areas within TV either are, or will eventually be controlled by a Board of Supervisors elected by the homeowners. Morse controls the two special CDD’s that contain all of his commercial properties and all the recreation centers and golf courses. But to imply that he controls all of the CDD’s is blatantly misleading.
• When the article states that “Each time he created a district to issue bonds, Morse created a five-member board to run the community in lieu of a municipal government. The boards that approved 38 of the bond offerings were staffed almost entirely with his employees at the time the bonds were sold” it erroneously implies some sort of impropriety. Yet that is exactly how Chapter 190 dictates it should be done. Who should he have appointed, employees of Del Webb?
• Finally, this article as well as many others issued by The Sentinel, seem to go out of their way to give the impression that because the IRS is challenging the special circumstances surrounding the tax free bonds issued by Morse’s two commercial CDDs, that the rest of the 10 residential CDDs and the 1600 CDDs in the state are somehow in jeopardy. Nothing could be farther from the truth.

The whole thing really boils down to the fact that the IRS wants the tax free bonds issued by the two commercial CDDs to be recalled and re-issued as taxable muni bonds and then a fine and payment of the lost tax revenue to be paid. Many millions of dollars involved no doubt, but multi-billionaire Morse with over 4 million square feet of commercial space in those two CDDs (not including Brownwood), he can handle it.

From the minutes of a 12/5/2011 SUmter County Division of Planning & Development meeting:
http://sumtercountyfl.gov/archives/43/12-5-11.pdf

Lazy B Cattle Ventures, LTD - Major Development - Preliminary & Engineering Plan Approval
Accessed from either Clemente Court and/or Banderos Ave., west of US 441/27/The Villages
Chris Potts, Farner Barley & Associates, representative for the applicant, was present and requested
Preliminary and Engineering Plan approval to develop a parking lot addition to be used by a
commercial development known as Spanish Plaines.
Mr. Cornelius stated Planning and Development and Sumter County Fire Services had no comments.
Mr. Oxendine confirmed his comments were received by the applicant. Mr. Potts confirmed he
received the comments and they will be addressed.
Ms. Stalder confirmed her comments were received by the applicant. Mr. Potts confirmed he received
the comments and they will be addressed.
Mr. Hickey and Mr. Shrewsbury had no comments.
Mr. Hickey made a motion to recommend approval of the Preliminary and Engineering Plans subject
to all comments being addressed and revised plans being submitted. Mr. Shrewsbury seconded the
motion, and the motion carried.

Nice job. That was well stated. Of course we are at a time in this country where class envy is a tool of a certain political party to gain power and hold it. They accuse the wealthy of greed and improprieties while they break laws and live the same lifestyle of the billionaires with servants, butlers and personal jets. Wouldn't you like to be able to take a couple hundred of your friends and relatives to Europe for a week or two? Those in power that speak loudest of the greed of bankers, business owners and Wall Street are able to do exactly that, with your tax dollars. Is this a great country or what?:swear::swear:

STOP & Think People......Everybody that Lives in TV is Living the Dream of what Gary Morse has developed. Ya got to spend $$$$$ too make $$$$$$$$$$$$$$$$$$$$$$$........

All good points!!

Don't want to get too political, but I object to assumptions that one's views on the success and wealth of the Morse family translates to party preference, Many beliefs on a variety of issues have formed my political views and I imagine the same is true for many others.

Quirky, Thank you for posting that link. I skimmed the meeting minutes -- pretty dry stuff. I read the article -- pretty interesting.

The great American virtue-- "Greed"
 

There are only three things any of us can do with our money (rich or poor). We can spend what we have , or in some cases more than we have, we can save(invest) it or we can burry it in a hole.
In the case of the first two options , at least from a financial standpoint, there is a societal benefit. When we , or the "rich" spend, jobs are created or sustained usually up and down the chain from management to blue collar to cleaning staff. I remember the luxury tax on boats some years ago and the hundreds of craftsmen and laborers who lost their jobs because of it. I hope that GM and many like him keep buying the toys that I can't afford.

When we( and the rich} hoard our funds buy investing, we create the capital on which a viable economy is built. I hope that GM and others keep hoarding(investing) so that we have the seed capital to build our industrial base and for our children to obtain loans for homes and college etc.Let's hope the investments and expenditures are made with some care regarding the morality of the products and companies involved.

Hopefully GM is philanthropic(I have no idea) as are Gates and Buffet and many many others with wealth who contribute $billons annually.

I hope Gary Morse lives forever, because I don't know what might happen after he's gone. I thank him every day for the life he has made possible for us Villagers. The only fact in the story that I find questionable is the cost of his house. Only $1 million? I don't think so. His yacht cost more than that!!

Yes, the reason I posted it is because it describes the physical location of the property.

Article
 

To the Morse Family:

You can't please them all but you're doing a hell of a job pleasing the majority.

Thanks and keep up the good work and if that is making you money - BLESS YOU!

Is there a Villages II in the making ???

All rumors, articles, and innuendo point to it being in Texas.

I know someone in The Morse family reads these posts. It would be nice if Gary would respond once in a while. Send me a PM if you wish. I promise I won't forward what you say to anyone.