It's three times the size of Wallace's other, more modest home in Tampa Bay. That house -- all 13,033 square feet of it -- made headlines in 2009 when it was revealed that it was the biggest water guzzler in 2008 in the Tampa Bay area -- using more than than six million gallons of water, enough to fill the average backyard swimming pool every day for a year.
The new mansion has two swimming pools, sauna, steam rooms, bar, billiard room, bowling alley, gym, massage room, game room, men's lounge, his-and-hers offices and a parlor. There's even a baseball field.
Wallace did not return requests from the St. Petersburg Times to talk about the new house. But in a 2008 interview he said that he and his wife wanted a home with plenty of space for their young children to play.
Don Wallace and his family started Lazydays in 1976 with $500 and two travel trailers. It grew to a 126-acre complex in Seffner, the largest single-site RV dealership in the country -- an American success story.
Construction of the new home is expected to take another 2 1/2 years.
Photo: Don Wallace
Update to this article posted the evening of Sunday, 1/24/2010
In the article above, we failed to clarify some information about Wallace, and in doing so misled some readers about him and his relationship to present Day Lazydays. Most of the comments below were submitted before this Sunday evening update.
Don Wallace, now 59, and his family started Lazydays RV SuperCenter in 1976. According to various sources, he felt a major reason the company succeeded was the establishment of an employee stock ownership plan in 1995. As a result, the employees of Lazydays owned almost 10 percent of the company.
Wallace sold his majority ownership of Lazydays to Alliance Holdings, a Pennsylvania based company in 1999. In 2004, Alliance along with the Lazydays employees, sold to a New York based private equity firm. This proved to be a major windfall for the employees, since they received more than $30 million from the sale of their ownership stake.
Wallace retired as Lazydays CEO in August 2007, but remains a primary stock holder.
The Lazydays bankruptcy referred to in our article (above) and its layoff of 200 workers occurred after Wallace had been active in the management of the company.
Routinely, Wallace and his wife open their Bayshore, Florida home to charity fundraisers. The Wallaces gave $5-million to the Moffitt Cancer Center and Research Institute for breast cancer research. They gave more than $1 million to build the Gorrie Coliseum at Gorrie Elementary School. Other beneficiaries: Tampa General Hospital, the University of Tampa, Tampa Bay Performing Arts Center, Joshua House, the Spring of Tampa Bay and the Lowry Park Zoo, among many.
31 comments:
Typical greedy type bast**d... Lay off 200 workers so he can use the money to build his own home....Forget the familys that are on food stamps now that he fired them. Forget the fact that We RV'ers will no longer do business with the likes of him because of this type of crap. This is the type of person who the goverment should put in jail because he filed bankrupsy and the business has not rehired those who he fired. He is only doing so because of greed or the worship of the almighty dollar.
Sign me disgruntled RVer.
Amen to all above!!!
I believe that Wallace sold a large share of Lazy Days stock to a group of investors long before the Lazy Days corporation filed bankrupcy. In other words, he was smart enough to see into the future to see that the crazy goodtimes would not last forever. Blame the group of investors who were not as smart for the layoffs and bankruptcy that followed, not Don Wallace. This article is a good example of the journalism of half truth and ommission that is so prevalent today in the media.
Dear Mr. Wallace:
I mean this with the very best of intentions. Respectfully sir, you need some immediate advice and wisdom to navigate your way out of this quicksand that your business and current employees are now facing, and will continue to suffer, because of this negative publicity related to your recent decisions.
Consider writing to: artistministry@yahoo.com for confidential communication from a Christian pastor.
The last post is correct. The business was booming and investors thought it(Lazydays) was a great buy. The founder was not the only one to come out of the deal with a lot of money. At the time of the sale, employees there held shares of the business that after the sale made them richer than they ever imagined. And, they probably spent some of that money on frivolous things like huge houses. Later on, the RV business went south, the new investors had to declare bankruptcy and lay off workers. Those were two seperate events.
Do some of the above comments smack of jealousy. I'm pretty sure this mansion was planned and the money already in place before the layoffs and the bankruptcy. How he spends his hard-earned money is his business. Wallace was smart enough to put Lazy Days on the map in a big way and wasn't personally responsible for the bad times that came along. Lasy Days is the best place to conduct business no matter what Mr. Wallace builds for a home.
When "the market" gives one man a home run, it does so by law. Truth is without that law we would all suffer a life of socialism and poverty. We could be like Cuba etc. BUT, the law of God is to give and help others as if it were your own life. Do unto others... remember? When a man acts this way, I will do what I want and never darken his door with my RV. Nor pass on good words about his business tactics. That is also the law. Good luck Mr. Wallace. Here is hoping you never find yourself asking for the help of others.
I would like to add. My experience with Lazydays was NOT good. I bought an RV from an individual who had orginally purchased the 150K plus RV with them less than 2 years earlier. Lazydays failed to help me in any way when there was a repair issue and I live in the Orlando area. I got great service from the folks over here on Hwy 50. The management at Lazydays was terrible and I asume that includes the directives of Mr. Wallace.
Boy! Is your other article ever correct....We need our english teachers!!! Spelling and grammar are absolutely atrocious even with what we had in "the old days". I just cannot believe just how many people cannot spell in this country!!! As for Mr. Wallace, it is his money but I think the way he got it in the end will come around to bite him in the butt in the long run! Good Luck, Mr. Wallace, you will surely need it!
I am sorry, but what this man does with his money is nobuddies business. To the bitter, jealous people you should look in the mirror, that is not being very Christian. You all forget that he probably worked his tail off and made the right decisions along the way to earn this reward. He employed hundreds of people over the years who were justly compensated and it hopefully enriched their lives. Not to mention those that also profited when he sold his interest and theirs in the company. I am sure the decision to lay off all the people was not his, but the new entity now in charge of the company. Also keep in mind all those construction workers who now have a job because of his building project that may not have had one in these economic times. If there is one thing we need to get out of these bad times, it is for people to start spending again, so that companies then can sell products, and then people can be employed to produce those products. It's real simple. The more people buy the more people have a job. I am so tired of all these do gooders who are so narrow minded that they focus on one small aspect of the story and not look at big picture. This one man provided hundreds and possibly thousands of people with jobs over many many years, gave a lot of RVers the opportunity buy an RV at a good deal which I am sure enriched their lives. Judge the man on the totallity of his life and not one extavagance that he has earned. Focus on the positives and not the negatives. This one man has done more for RVers then many of you can appreciate. Please stop this socialistic diatribe.
how many customers he screwed using his lieing salepersons to get all that money and hoping the taxes were all accounted for
If any of the jealous people who are shamming him had the money, opportunity and choice. I really wonder if they whould give their money to 200 other people. I think not!
I don't give a darn how he got the money for this grandiose monstrosity. It's disgusting that he gobbles up so much of the environment for his own use. The largest water user in Florida!! I hope that with all the current cold they have been having that his water pipes freeze and burst!! He truly is a disgusting example of conspicuous consumption.
I think this is disgusting, he is just like the bankers who got a great bonus. Nothing thinking of the folks who are on hard times. Disgusting
people like this are around everyday but I think this takes the cake.
Just Google "Don Wallace sells Lazy Days" and you will get a site that will state majority shares went to an ESOP in the late 90s, a group of investors acquired majority several years later. Nevertheless, IMO the building of this mansion can be described as "conspicuous consumption." He is legally entitled to but does so under questionable moral grounds. How can he do this when so many have so little. What kind of house would Jesus build? Even Adam Smith stated capitalism must exist in a stong moral framework other wise it would devour itself.
To the laid off employees:
To the investors:
To the customers:
To the readers:
You now know and should understand the man's character--or lack of it. You should understand his "need" to construct a home of extraordinary dimension. Warped? You tell me.
I'm thankful not to be his neighbor.
Wild Willy
Your article makes me wonder why it is that you have fallen into the same pit that so many other journalists have found. From reading the comments to your article on the PREVIOUS owner of Lazydays it appears that you have misled your readers on the business acumen of this man. It appears (by the comments from other readers) that he got out at the right time and helped his employee stochholders to do the same. As to whether or not he is wasteful as relates to natural resources that is likely another matter. I think that the point I am trying to make is that it is advisable to do some in depth investigation on any matter you are to write on rather than to jump to conclusions that may be partially or totally incorrect.
George
I wonder how many of the posters here ever started and built a business from scratch. How many of you so willing to cast stones ever had to eat mac and cheese so that you could pay your employees? This man risked everything, started a business, built it up, and SOLD MOST OF IT TO INVESTORS. He did NOT control, and was not responsible for, the economic downturn that caused the bankruptcy and layoffs at his company. He was certainly not responsible for the risky lending practices that were a direct result of populist pressure on financial institutions. This is a classic piece of class-envy pseudo-journalism. By using his money to build this home, he is employing people in a bad economy, will be adding a significant amount to the local and state tax coffers, and will be spending HIS money as HE sees fit. Don't worry, though. I am sure that the sweeping social changes being rammed down our throats will do much to provide equalization - soon everyone will be as miserable as everyone else.
No matter HOW he got his money, his choice of how to spend it is obscene.
Oh suck it up, people! What a bunch of whiners. He worked for it, earned it, and now can decide what to do with it. No one's telling you which fuzzy dice you're allowed to hang in the mirror of your old Nova...it's just a matter of degree. Incidentally, those laid off people DO get foodstamps & other assistance to help them.
I was told that Mr. Wallace sold the business to the Remington Corp., long before the downturn and as a business man he is entitled to his profits. Also, the ESOP employees were taken care of. The new owners borrowed money at a high interest rate, which was pulling the company down. On the advice of the lenders, Lazydays filed for bankruptcy to lower the interest rate and makes them and the lender more viable in their endeavor. In spite of this country's "Change" that some of us did not want. What the "New" Lazydays decisions, that are made, has nothing to do with Mr. Wallace. GO Mr. Wallace, GO.
I agree with the folks above that state it is nobody else's business how he spends his money, or for that matter, how he made it. I think him or anybody else building a house like this is a bit over the top, but probably feel the same about those that buy $1M+ motorhomes... but that isn't my business either. I can say that Lazy Days didn't get any of my money and although I gave them a shot, they couldn't come within several thousands of dollars to the deal I got my from my dealer in Dayton, OH...
Sounds like a man who forgot where his humble beginnings came from. A man who has no social or moral compass. A man who is driven by the almighty dollar. A man who is arrogant, wasteful, and has no ethics or integrity.
I was just recently at Lazy Days and I could tell right off that this was not the kind of place where I wanted to drop a half-mil on a new coach.
Some have mentioned that folks like us are "jealous". Jealous of what? Of not having a conscience for what is morally and ethically right? I don't think so. Jealous for being able to waste precious resources? I don't think so. For being able to work the system at the expense of investors and employees? I don't think so.
Don Wallace does demonstrate his lack of good common sense, integrity, and his lack of scruples and principle.
He is the kind of person that most of us want to stay away from. Far, far away from.
For all those worried about how he spends his money, I bet the contractors, electricians, masons, carpenters, etc. would all tell you to shut up there are more than the 200 laid off getting good wages, benefits, and pension contributions due to his "extravagent spending". I am retired now but used to love when the "rich people" used to decide to build something like this, my union liked it too, they got 2% of what I made. Everyone was happy including the Church when I made my contributionon Sunday.
Have a good day guys/gal - too serious.
DDJ
Don Wallace did not start Lazydays -- his father did. The original location was on Florida Ave. selling mobile homes, gradually moving on to RVs. Don and his twin brother helped their father and inherited the business. His twin was a very compassionate, moral man, unlike Don. Unfortunately he died at an early age, 34. I bought my RV from Lazydays but will NEVER darken that door again after lousy service while under warranty. I live in Tampa and most RV owners here do not buy at Lazydays.
How many people who comment about Don Wallace have neglected to ask themselves, isn't an RV an extravagance in their financial bracket? How many people who have less than we have could say the same about us? I have an AirStream and as an expense, they aren't cheap. I wonder how I might better have spent my money helping others, but I didn't did I. How about you, how did you spend your money that could have helped someone else. It is always easier to judge someone else or to cast stones at them. If you are a Christian then to comment negatively about Mr. Wallace is very un-Christian and disengenuous. As was stated in one comment, none of us have started a business from scratch and have done without to make sure the payroll was made. Mr. Wallace does not answer to me or to any of you, even if he did, few of you would change your opinion. Reading many of the comments here is like "watching" the Jerry Springer show. It is truly disheartening.
This is a poorly written article and contains many untruths.
As an RVer in a large diesel slurping vehicle we also are being extravagant? Does that make us un-Christian, selfish and all the other nasty comments made about Mr Wallace?
I'm saddened that this newletter contains this article since so much is untrue.
You pit of vipers. You will be judged by your own words including the author, who had the responsibility of getting the whole truth of both sides. You sir will be held even more accountable. I have never seen so many jealous, narrow minded, pea brains in one place in my life. No wonder we have who we have in the White House. By the way, how is that hopie changie thing working out for you. Do I hear voter remorse because of current economic disasters with failed bail outs. Sounds like it to me. Boo Hoo, the blame game. Want to blame some one for 200 workers loosing their jobs? Blame the one in control. Get a life. This man is what FREE America is about. You don't like it, then pack your bags and get out. We don't need you and your socialistic views. Go to Cuba and let someone from down there come here that will appreciate what Veterans throughout time has sacrificed to keep free.
who cares, did Obama rule on the size of a house too??? is that the next thing that goes?
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