Paul Gass Interview - Founder of Eaton Financial est. 1974
Paul Gass - An Interview with a true pioneer of the equipment leasing and finance industry.
Paul, the original founder of Eaton Financial, is one of the most interesting people in our industry. Eaton was one of the very first to pioneer the small ticket leasing business along with creating the unique tools required some 40 years ago. Paul was and is a tireless advocate for the disadvantaged and for championing many causes, from diversity in the workplace, founding of the Equipment Leasing and Finance Foundation and extensive philanthropy. In this series of short videos, we take a look at just a few of the highlights of Paul Gass’s remarkable career. Trust me, there could easily be a dozen more segments of the very interesting and engaging life of Paul Gass. There is much anyone can learn from Paul.
Paul Gass – Introduction
This video will give you a sense for Paul and set the stage for the following segments.
Paul discusses how he started Eaton with an idea to fill a void in the equipment leasing industry
Paul Gass – Starting Eaton Financial
How does one start something from nothing when there wasn’t a roadmap! Paul discusses how he started Eaton with an idea to fill a void in the equipment leasing industry
Without a road map, challenges were expected but what were some of them
Paul Gass – Challenges
Learn about Paul’s philosophy on dealing with challenges
Ever wonder how application only credit decisioning started?
Paul Gass – Innovation
Wonder no longer!
In an era and an industry which was unquestionably male-dominated Paul blazed new territory well ahead of his time.
Paul Gass – Diversity Pioneer
Learn why many of Paul’s key employees were women.
Paul had an idea about leasing education and fostering research in the industry then put his money to work in making it a reality
Paul Gass – Founding the EL&F Foundation
Learn how the Equipment Leasing & Finance Foundation got its start.
Paul sees another need to help those with disabilities gain entry into the workplace.
Paul Gass – Help For Those With Disabilities
Hear about how Paul engaged with the Advocates, a non-profit that champions people who face developmental, mental health, or other life challenges.
We sum it all up in this segment, but we could have gone on for hours.
Paul Gass – Final Thoughts
Get some parting words of wisdom. Do you have some questions for Paul, please comment or contact us and we will try to get Paul to answer them.
Paul Gass
Paul's Full Bio
I Will Go First!
So, here is one of my favorite cigars and beverage when given an hour or so to relax either in solitude with some great music or better with friends.
Cigar:
My Father Le Bijou 1922 –(see picture) Cigar Aficionado’s cigar of the year in 2015. The price is between $10-$15 per cigar depending on the size selected. The tasting notes that I can depend on are chocolate covered raisins, cocoa, nutmeg and a richness that is totally relaxing while being intriguing with each puff. Now, keep in mind that is a very individual thing since taste varies for everyone. While the Le Bijou looks very dark, because of its oscuro tobacco wrapper, it is not strong but rather very flavorful which is often confusing to novices. Strong and dark are not the same. You can have a very light-colored cigar that is very strong (e.g. Cohiba).
Where to get them: Stogies World Class Cigar Lounge in Houston. www.stogiesworldclasscigars.com or call 713-783-5100 and ask Andrew or email him at Andrew@stogiesworldclasscigars.com
Beverage:
Diplomatico Reserva Exculsiva (see picture). Price is very affordable at $35-$40 per bottle. The tasting notes that I really look forward to are: molasses, caramel vanilla that compliments the LeBijou’s tasting notes incredibly well. This pairing frankly is a real treat for the senses and easily my favorite. This bottle can be had at most fine liquor stores in your area. It should not be hard to find.
Story:
I have been smoking cigars for about 4-5 years but only became a serious aficionado for the last 3 years. I view myself as a life-long learner and always try to find out all I can about a topic I find interesting. Anyway, about 3 years ago, I joined Bells House of Tobacco, one of the quaintest “down home” cigar clubs in Cincinnati, owned by a really interesting and engaging fellow, John Bell. I used to drop in and buy a short cigar (known as robusto) and only hang out for a short while to smoke said shorty. One day, I went back to the smoking lounge early one afternoon and I had it all to myself. Mr. Bell came back about 10 minutes into this cigar (by the way, yes it was a My Father Le Bijou 2922 robusto.). As I recall, the conversation went something like this:
Mr. Bell – “Bob, we need to talk. You like being a member here, right?”
Me – “Of course, Why”
Mr. Bell – “Well, I have to tell you that something has to change, or you are not going to be a member much longer.”
Me – “What?”
Mr. Bell – When you come to Bell’s you always get a short cigar, then pace, fidget, work on email and otherwise make everyone nervous with your nervousness. Bob, that has to stop. Do you ever relax?”
Me – “Sure, I do. That is what I am doing right now.”
Mr. Bell – “That is not relaxing Bob”. Now here is the deal. I am going to go out to the humidor and select a proper cigar for you and put on some appropriately paired music (by the way the music was classic jazz). You are going to sit here, smoke it while enjoying the music and you better not bury yourself in your phone and work.
A few minutes later Mr. Bell returned with a very long and thick cigar. By the looks of it, there goes 2 hours of my busy time. But I really did not want to get kicked out of my new club and friends.
Mr. Bell – “OK! Here we go. This is a dynamite cigar that from what I know should fit your taste profile. It will take you a good hour and a half to finish it. Put your phone away.”
Me – “Alright, alright, alright!”
So I proceeded to properly cut and light the stick. I then sat back and just slowly smoked, listened to some great jazz and well started to just think. About 30 minutes later a few other members showed up and we just started to talk. Wow, I think I get it. Smoking a cigar is about really relaxing and community. Besides what else am I going to do for an hour or two while it takes to finish a cigar like this. Mr. Bell returned to the lounge.
Mr. Bell – “Well Bob, what do you think?”
Me – “John, I think I get it. The cigar actually tasted better when not buried in email or pacing and I am not sure I have ever really relaxed in this manner.”
Mr. Bell put on his trademark broad wide infectious smile as remarked with one of his trademark expressions.
Mr. Bell – “That’s right! He seemed quite pleased with himself as he strutted out of the lounge like a proud peacock, obviously pleased with himself.
As I look back on that episode, I can honestly say this. He saved my life from a mental standpoint. I learned to enjoy just, well, just being in the moment and enjoying the finer points of fine hand-crafted cigars and beverage pairings with them. I also enjoyed the discourse and community that takes place in a cigar lounge. There is something about cigar lounges and the folks that frequent them. The cigar culture is one of camaraderie, sharing experiences, cigar selections, music, beverages and of course story after story.
My Conversation with Susan Carol for the Equipment Finance Advisor
I always enjoy my too infrequent visits and conversations with Susan Carol! She always asks great, thought provoking questions and makes me think. I firmly believe that the status quo in the commercial lending space is about to be disrupted in many more and unexpected ways. Fintechs started that movement years ago by exploiting vacuums in very specific niches left by the traditional lending platforms (banks). Susan and I only touch on the very surface of what could have been a 2-3 hour conversation and brainstorming session.
Link to the article on the EFA site>
October 2015 - Chairman's Speech at ELFA's 2015 Annual Convention
Video of Bob Rinaldi delivering the Chairman's Speech at ELFA's 2015 Annual Convention.
Bob Rinaldi Posts New Interview with Industry Pioneer Edward Cherney
In time for the industry’s 50th convention, Bob Rinaldi has posted a video conversation with Edward Cherney as part of its Pioneers in Equipment Leasing and Finance series. The series features conversations with entrepreneurs who share first-hand accounts of events as they happened, and perspectives on the future of the industry.
Edward Cherney has made a lifelong career as an entrepreneurial executive. He is currently chairman of TIP Capital. He has led industry renowned equipment leasing companies such as CMI Corporation, ENCORE, and AT&T Systems Leasing. Cherney’s 40-year career has mainly involved directing end-user sales staffs and operations that originated sophisticated, financial-oriented lease transactions. He is credited for financing billions in hardware and raising equity in excess of $500 million dollars. Cherney is recognized for his expertise in strategic business planning, profit improvement in turn-around situations and a talent for reading market conditions and taking the appropriate risks to grow the business.
His video is posted at bobrinaldi.com/edward-cherney
Founder Bob Rinaldi invites viewers to comment, ask questions, review the latest industry news, and connect with colleagues worldwide at bobrinaldi.com/blog.
Edward Cherney
Edward Cherney has made a lifelong career as an entrepreneurial executive. He is currently Chairman of TIP Capital. He has led industry renowned equipment leasing companies such as CMI Corporation, ENCORE, and AT&T Systems Leasing. Edward’s 40-year career has mainly involved directing end-user sales staffs and operations that originated sophisticated, financial-oriented lease transactions. Edward is credited for financing billions in hardware and raising equity in excess of $500 million dollars. He is recognized for his expertise in strategic business planning, profit improvement in turn-around situations and a talent for reading market conditions and taking the appropriate risks to grow the business.
Edward Cherney has made a lifelong career as an entrepreneurial executive. He is currently Chairman of TIP Capital. He has led industry renowned equipment leasing companies such as CMI Corporation, ENCORE, and AT&T Systems Leasing. Edward’s 40-year career has mainly involved directing end-user sales staffs and operations that originated sophisticated, financial-oriented lease transactions. Edward is credited for financing billions in hardware and raising equity in excess of $500 million dollars. He is recognized for his expertise in strategic business planning, profit improvement in turn-around situations and a talent for reading market conditions and taking the appropriate risks to grow the business.
Throughout his professional career, Ed has contributed generously of his leadership, time and resources to numerous community and charitable organizations. He has helped raise millions of dollars for the retirement fund of the Immaculate Heart of Mary, Sisters of Monroe, Michigan.
He has been an active supporter of the Detroit Country Day School, by serving as a board member for over 25 years and assisting the school in a wide range of activities. Former organizations include: University of Detroit-Mercy – Trustee Emeritus, Y.M.C.A. – Director, Metro-Board, and Harvard University, New Parent Fund.
After graduating with a degree in Finance from the University of Detroit, Edward then attended the Detroit College of Law. He remained at the leading edge of the leasing profession by actively contributing to the leasing professional associations. Edward is Past Chairman of the Computer Dealers and Lessors Association (C.D.L.A.) and Past Board Member of the Equipment Leasing Association (E.L.A.).
Edward is married to Joanne and the father of five children. His daughter is a graduate of the University of Michigan, two of his sons are graduates of Harvard University and another is a graduate of the University of Virginia and the University of San Diego Law School. His youngest son will be attending college in 2012. Joanne is a graduate of Eastern Michigan University.