Still Working Side by Side More than 40 Years after Cornell
The brotherly bonds built at Sigma Nu persist in one way or another for every brother for his entire life. For two brothers, Sigma Nu was the genesis of a life-long bond that has had them working together as business partners for more than 40 years. Les “Wags” Wagner ’72 and Steve “Stash” Schaeffer ’73 met at Cornell, became fraternity brothers at Sigma Nu, and today are as close as any two brothers can be.
Their lives have been built around Wagner Lumber, today the largest hardwood producer in the Northeast. Their story includes remarkable success, fun along the way, and rebounding from disaster.
Sigma News: What was the genesis of Wagner Lumber, and how did the two of you get connected?
Stash: Wags graduated from engineering school in ’72 and returned to his hometown of Owego, where he went to work at his dad’s American Motors Rambler car dealership. Tiring of auto mechanics and after building a helicopter that actually got airborne, he decided to turn his creative instincts toward building a sawmill from scratch, powered by an old Rambler engine.
At an all-night poker game in the Sigma Nu library in 1975, we decided to take a week-long trip to Vermont to see what a real sawmill looked like. After returning from the road trip, I resigned from my banking job at Citizens Savings in Ithaca and moved to Owego. Together, along with a little assistance from another Sigma Nu grad, Tony Zieno ’75, we started a log-cabin producing sawmill called American Log Homes.
Sigma News: What were the early years at the mill like?
Stash: Our two-person company ran the mill seven or eight months a year, closing down for the winter every year at Sigma Nu’s Homecoming party. During the winter of 1977, we traveled cross-country in our 1968 customized Chevy Van (the “Blue Lunch”), dining and lodging at Sigma Nu frat houses all across the country.
The first fire in Wagner Lumber history was September 23, 1978. All (there wasn’t much) was lost. All, but we decided to rebuild bigger and better and become a legit full-time business.
Sigma News: What did you guys do for fun?
Stash: Becoming a full-time business did not prevent us from pursuing our newfound hobby of playing blackjack all thru Europe, the Caribbean, Vegas, and newly opened Atlantic City. Card counting and sawmilling were both a way of life in the late ’70s and early ’80s, both passions allowing for the opportunity to travel the world and make money at the same time.
Sigma News: What happened next with the evolution of the business?
Stash: The sawmill evolved thru the ’80s and ’90s, employing 75 people by 1993. No longer sawing for log cabins, the operation grew to become one of the four largest hardwood mills in New York State.
Between 2001 and 2008, Wagner Lumber acquired three competing sawmills, becoming the largest producing hardwood operation in the Northeast. Annual sales grew from $15 million in 2000 to over $75 million by 2010. Despite the horrendous economic downturn in the housing industry in 2008 and 2009, Wagner continued to grow in volume and profitability and now employs 350 people.
Sigma News: How long do you plan to keep going on with the mill?
Stash: Not unlike Jimmy Brown or Barry Sanders, we decided to “go out on top,” and successfully found a willing and able buyer for the entire business, except for the 5,000 acres of land acquired over the previous 30 years. The thought was to hold on to a part of the business that would keep us occupied together over the rest of our lives.
Having completed the sale to Baillie Lumber in 2012, we made a commitment to stay on for two years to manage the transition, and it appeared that retirement was in the cards for us.
On February 23, 2014, Wagner Lumber suffered the second fire in its history, this time burning up in excess of $10 million worth of sawmill equipment and buildings.
This catastrophic event unfortunately extended our careers; we could not just walk away from the challenges presented to the company of rebuilding the original Owego facility.
Sigma News: Where do things stand today?
Stash: After an 18-month building project, the brand new state-of-the-art sawmill is up and running. There appears to be some light not too far at the end of the tunnel, leading to at least partial retirement for both of us, but, there’s still lots of acreage for us to manage together on into the golden years.
Sigma News: The story of the mill is really amazing. How did Sigma Nu prepare you for life, personally and professionally?
Stash: Wags was prepared very well for the future based on his academic accomplishments in engineering school, and the discipline and “stick-to-itiveness” gained from four years of rowing. I, however, focused on those “intangibles” learned through life lessons taught mainly at the School of the Fall Creek House.
Not only are we two business partners for life, but also most of our best friends are old buddies from Willard Way. Many of us just got together in March for the NCAA wrestling championships in New York City to root on the Big Red. Living together for three years and managing the financial, social, and academic needs of the brotherhood is great preparation for the real world.
Sigma News: What are your favorite memories of your time at the house?
Stash: One of my favorite memories was initiation night. What a masterful day and evening that I will always remember.
Sigma News: It seems we keep many of our house traditions, but some fade with time. What part of your time in the house would you like today’s undergraduates to know about?
Stash: I know it was another era, but looking back, I loved the ritual of dining together as a brotherhood every night of the week at 6:00 p.m. sharp (except Saturday night). And Wednesday night was always “date night,” dressed in coat and tie with an extra-specially prepared meal. And we had hired waiters (paid for in meals) to serve the tables!
Sigma News: For any brothers visiting Ithaca, when is a good time to meet you at the Creeker?
Stash: Any time you are in Ithaca is a good time to meet me at the Creeker.
Brothers wanting to connect with Stash or Wags can email them at stash@wagnerlumber.com and leswagner@wagnerlumber.com.
Editor’s note: The brothers from the mid-’80s have fond memories of Stash, Wags, and others from the early ’70s visiting the house often for Thursday-night card games in the library. The brothers knew they came out on top when, in the morning, the alumni were found sleeping in the Great Hall and Tube Room!