Ray actually sold the shop to Terry Trim before he passed away. Ivan and Noel offered to buy the business, but for some reason, Ray refused. I don't know why --- maybe Trim made him a better offer --- but we all felt it was a mistake to sell it to Trim, who's main reason was for his son to have a business. Unfortunately, I don't' think either of them knew anything about cue-making. To show you how much they knew about the pool world, they were considering making Fast Larry a Schuler cue rep.
As for Ray's supposed lack of aging wood, I think at some point Ray must have addressed that problem, because Ray was my cue sponsor back in the 90s and I recall a temperature controlled room filled with wood that was being aged. I've had several of his cues over the years, still do, and have sold several to my students. Only one had a warping issue, but I don't know how that person stored his cue. But that was just one out of dozens that I know about.
I was very happy to hear when Noel started making Schuler cues again, since he was one of the primary cue makers working for Ray.