OBIT/Financial Federal Corporation Mourns the Passing of Chairman Clarence Y. Palitz, Jr.City Desks OBIT... NEW YORK--(BUSINESS WIRE)--Nov. 24, 2000 With deep regret, Financial Federal Corporation ("FIF (Fractal Image Format) A graphics file format from content management company Interwoven, Inc. San Jose, CA (www.interwoven.com) that stores fractal images with compression ratios as high as 2,500:1. FIF was originally from MediaBin, Inc. " - NYSE NYSE See: New York Stock Exchange ) announced today the passing away of its Chairman Clarence Y. Palitz, Jr. on November 23, 2000. Paul R. Sinsheimer, President, said: "Cal Palitz was an icon in the equipment finance and leasing business, and was renowned for his unparalleled success over a 40+ year career in the industry. I joined him in the business in 1970 and many of us here at Financial Federal have worked together under his leadership for many years. On behalf of all of Financial Federal's officers and employees, we extend our heartfelt sympathies to the Palitz family. Mr. Palitz's vision was for Financial Federal to be the best equipment finance company in the nation, and we are deeply grateful for his tireless efforts in helping to build a fine foundation for our Company's future." Clarence Y. Palitz, Jr. joined his father, Clarence Y. Palitz, in the equipment finance business in 1956. In 1963, Cal and his brother Bernard founded Commercial Alliance Corporation which traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. from 1968 until its sale in 1984 to First Interstate Bancorp First Interstate Bancorp was a bank based in the United States that was taken over in 1996 by Wells Fargo. It was headquartered in Los Angeles. The name has continued to be used in the banking world by used after the merger by First Interstate Bank who had been using the . Commercial Alliance Corporation had a 21-year record of consecutive increases in earnings and receivable growth. Mr. Palitz, who retired as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Financial Federal Corporation in February 2000, was a co-founder of the Company in 1989 along with his brother Bernard, a Director, his son Michael, Executive VP, Paul R. Sinsheimer, President, and other senior executives. Mr. Palitz is survived by his wife, Anka, his brother Bernard, a Director of Financial Federal Corporation, his daughter Dr. Suzanne Palitz, his son Michael, Executive Vice President of Financial Federal Corporation, and his granddaughters Elianora and Sophie. Financial Federal Corporation is a nationwide, independent financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company specializing in financing industrial, commercial and professional equipment through installment sales Installment sale The sale of an asset in exchange for a specified series of payments (the installments). installment sale A sale in which the buyer is scheduled to make a series of payments over a period of time. and leasing programs for manufacturers, dealers and end users of such equipment. |
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