[tophcfa]

Originally Posted by dewilson58

OMG

Real estate developers buy, develop, sell.

Agree, that’s why it’s important to monitor what’s going on around us and contemplate the possibility and consequences of the developer selling. After all, we have homes here and have a very real interest in how a sale could affect our substantial investments as well as our lifestyles. Gary Morse’s kids are getting old and most certainly don’t need more money and headaches, for the first time an outsider is the CEO, and there’s been a lot of housing turnover at Glen Hollow Farms. You gotta believe the whole Villages Health fiasco put some unwanted grey hairs on the developers heads. Ya never know what the future will bring?

[OrangeBlossomBaby]

Ironic that I posted previously, over a year ago, what would happen if the Morse Family decided that they didn't want to be in business anymore. If the children decided they didn't want "Developer" to be their career path, and simply didn't continue the business.

I was summarily trounced for daring to even ask. And now so many folks are seeing the Morse Family divesting, and expressing concern. "Don't worry, it'll never happen." "Don't borrow trouble." "I'm sure they'll always do the right thing." Those were the kinds of responses I got. The acronym FAFO comes to mind, now.

[Rainger99]

Originally Posted by BrianL99

I'm guessing the family will sell off the entirety of their commercial holdings to PE, which effectively puts PE in charge of The Villages.

How will that impact those that are living here now?

Executive Golf Trail courses are owned and operated by the Village Center Community Development District and the Sumter Landing Community Development District.

I think the developer controls VCCDD and SLCDD so in theory they could close the squares, the rec centers, and the executive golf courses but I can’t believe anyone one would do that - even PE.

Would anyone have moved here without the golf, the squares, the rec centers?

I don’t think anyone moved here for the Villages bank, the insurance agency, or the Villages Health Services.

[margaretmattson]

Originally Posted by Jayhawk

I think most reasonable people KNOW why they started all these things. To sell houses. It's not that difficult to understand.

I ponder what will happen when home construction ends. Construction would only be needed for repairs or renovation. How many younger people will have to leave to find employment? How many younger will want to move in? Retirees depend on the young for many types of services. Will this create a downward spiral in home prices? A large number in their fifties have bought homes in the Villages. They may still be alive when construction is complete.

[BrianL99]

Originally Posted by BrianL99

So why do you figure the "Developer" of The Villages, opted to start his own bank, water supply & treatments plants and decided to be a landlord for grocery stores, insurance companies and waterfront businesses?

Originally Posted by Jayhawk

I think most reasonable people KNOW why they started all these things. To sell houses. It's not that difficult to understand.

Originally Posted by tophcfa

Agree, that’s why it’s important to monitor what’s going on around us and contemplate the possibility and consequences of the developer selling. After all, we have homes here and have a very real interest in how a sale could affect our substantial investments as well as our lifestyles. Gary Morse’s kids are getting old and most certainly don’t need more money and headaches, for the first time an outsider is the CEO, and there’s been a lot of housing turnover at Glen Hollow Farms. You gotta believe the whole Villages Health fiasco put some unwanted grey hairs on the developers heads. Ya never know what the future will bring?

Exactly. The Developer got into side businesses, because he needed to make his primary business (home building) successful. The Developer got into 2 "other businesses" ... commercial/retail businesses & government.

The "side businesses" are now mature. The masterminds of the operation have either died or stepped away. So now what happens? Does the family stay in all their businesses? Development, property management & government? Or do they step away from one? From 2? Or all 3?

I'm surprised the folks who have lived here a long time and seen it all unfold first hand, don't have a better handle on what's likely to happen, but I guess the Developer has always played it close to the vest and no one really has a clue.

As Tophcfa points out, the change from running an operation to support one's core business, to making money with those different business units, is a giant leap. Private Equity operates differently than a "small family business", which is how TV began.

While there's thread running here that illustrates how many people don't understand "Bonds", even more people don't understand that the Developer controls 100% of the government of The Villages and whoever replaces him (if it happens), will take over as our government overseer, likely with different priorities.

[Cherylmcdaniel]

Originally Posted by BrianL99

So why do you figure the "Developer" of The Villages, opted to start his own bank, water supply & treatments plants and decided to be a landlord for grocery stores, insurance companies and waterfront businesses?

They wanted services that were required to service residents - no one else was around to start the businesses. Simple, build it they will come!

[dewilson58]

Originally Posted by tophcfa

Gary Morse’s kids are getting old and most certainly don’t need more money and headaches, for the first time an outsider is the CEO, and there’s been a lot of housing turnover at Glen Hollow Farms.

Many, Many times it's wise for a family owned business to bring in an outside "CEO" because of the family depth chart limitations. Bring in a Pro and enjoy life more.

[NoMo50]

Originally Posted by jimkerr

The Morse family isn’t going anywhere but it is interesting that they’re selling off homes in their compound.

Could it be that a new "compound" is planned for an area down near Middleton?

[shut the front door]

Originally Posted by NoMo50

Could it be that a new "compound" is planned for an area down near Middleton?

It hasn't been a "Morse Compound" in years. Most of the homes that are being sold are by owners not in the family.

[shut the front door]

Originally Posted by TomPerry

Exactly!!! The developer sold off the insurance agency, the bank, and for the most part the healthcare system to get rid of the day to day businesses that deal every day with thousands of PITAs and the aggravation they cause and get back to their core business- - - developing residential and commercial real estate! The OP said “ Not to be controversial or an instigator”, but IMO that is exactly what he did! A Freuidian Slip?

Did you ever consider that they sold it off to pay back the medicare fiasco?

[Jayhawk]

Originally Posted by TomPerry

The OP said “ Not to be controversial or an instigator”, but IMO that is exactly what he did! A Freuidian Slip?

[Jayhawk]

Originally Posted by shut the front door

Did you ever consider that they sold it off to pay back the medicare fiasco?

I doubt they needed to check the couch cushions to be able to satisfy the Medicare issue. And they self-reported the problem to begin with. The developers have built, run, and sold commercial businesses for years. It's not a sneaky trick. Of course, some will always look for the negative and try to twist the facts in any story.

[Bill14564]

Originally Posted by shut the front door

Did you ever consider that they sold it off to pay back the medicare fiasco?

No, but the Medicare fiasco may have led to a desire to pull back to their core business.

[Jayhawk]

Originally Posted by Bill14564

No, but the Medicare fiasco may have led to a desire to pull back to their core business.

So did the sale of the insurance company 10 years earlier, the sale of the furniture store 12 years earlier, or the sale of many businesses that support the new home development also connect to the self-reported Medicare mess and lead to divestiture? Of course not. All these supplementary businesses are/were to aid in selling NEW HOMES. Once established, they were no longer needed for that purpose. But I guess we can assume the worst, right?

[Bill14564]

Originally Posted by Jayhawk

So did the sale of the insurance company 10 years earlier, the sale of the furniture store 12 years earlier, or the sale of many businesses that support the new home development also connect to the self-reported Medicare mess and lead to divestiture? Of course not. All these supplementary businesses are/were to aid in selling NEW HOMES. Once established, they were no longer needed for that purpose. But I guess we can assume the worst, right?

I can’t tell if this post is challenging mine or agreeing with it.

I don’t think the family needed to sell the bank and healthcare business to be able to afford any Medicare fines. I’m not sure the family will even be assessed fines but that is beside the point.

I do believe there is a possibility that running businesses outside their core business, while desirable at one time, may have become more trouble than they are worth. The Medicare issue was just one more example of that.

Were the recent sales instigated by the Medicare issue? I certainly have no idea. Perhaps it was just coincidence. Perhaps there was a forty year plan to sell some ancillary business every ten years and 2025 was the year. Perhaps the plan was to sell the businesses north of 44 when building started south of 470. Perhaps a lot of things - we just don’t know.