On September 22, 2020, Raymond Bernard Carey, businessman, writer, democratic capitalist, sportsman, master raconteur, husband to Dennice, father of 3, and grandfather of 6, passed away at the age of 93. Born in Gardner, MA, at 17 he joined the Navy. He graduated from Holy Cross College and Harvard Business School thanks to the GI Bill, and was named to Alpha Sigma Nu, a society dedicated to the Jesuit virtues of scholarship, loyalty, leadership, and service. A business leader, he ultimately became the president and CEO of ADT, where he developed and applied his beliefs about democratic capitalism and the power of profit-sharing and employee ownership. Ray retired from ADT in 1988, and began a second career centered on promoting better understanding of these principles. He created the Raymond B. Carey Foundation, named after his father, which later evolved into the Carey Center for Democratic Capitalism. He also founded the Carey Scholars Program that provided stipends, books, and economic education to high school students. He wrote Democratic Capitalism: The Way to a World of Peace and Plenty, developed a curriculum with faculty at Rutgers, and connected with economic scholars around the world. He was particularly proud that his work was favorably received by both conservative republicans and liberal democrats.
For all of his business success, the center of his existence was his wife, Dennice, with lifelong themes of overly friendly dogs and living in beautiful, sometimes isolated, places. For 50 years, their home base was a farmhouse in Locust, NJ, with spring and part of the summer in Sun Valley, ID, the remainder of the summer and fall on Nantucket. His discipline was legendary. Even after retirement he would read and write from 6AM to noon every day. Afternoons were dedicated to Dennice, dogs, sunsets, sports, bonfires and entertaining. Ray loved to sail, play tennis, ski, and golf, and had many like-minded friends at their clubs over the years – Rumson Country Club, Seabright Beach Club, Seabright Lawn Tennis and Cricket Club, Sankaty Golf Club, Nantucket Yacht Club, and The Valley Club. A fierce competitor, Ray raced sailboats his whole life, and had a series of boats, all named Wisper, that let him cruise, race, and tell the stories that attend life on (or near) the sea.




