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Syracuse Herald Journal in Syracuse, New York

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Newspaper

Syracuse Herald Journal

Location

Syracuse, New York, United States of America

Date

Dec 20, 1992

Page

4

Humble start yields fortune in Syracuse hotel, leasing empire

A former employee says Bennett could sell snow to Eskimos as he built a fortune from two Syracuse hotels and a Fleet of leasing firms. Colleagues praise his work ethic and entrepreneurship, tracing rises from foster care to Marine service, then GE sales and a string of ventures. The Bennett story blends charity, politics, and a long legal battle with Rockefeller-affiliated investors before building Bennett Funding Group with offices, dealer endorsements, and more than 10 investors backing lease programs for office equipment.

John Lynch Bennett Syracuse Buck Guy Ann Marie Tabercio Local 150 Hotel Employees and Restaurant Employees Union Syracuse Square Quality Inn North Tabercio Bennetts Cuse Blodgout Pacific DeVry Technical Institute Chicago Kathleen A. McCarthy General Electric State Assembly Mort Gallivan Transportation Microwave Corp Camparty Rockefeller Southern Pacific Co Sprint Rockefellers Aloha Leasing Court Street Richard Clarke Konica Business Machines USA New York City

Bennett Group Company Network Summary

The Bennett group includes Bennett Funding Group and Alpha Leasing Finances leasing office equipment, Resort Funding formed in 1984 for timeshare financing, Processing Center handles credit billing and collections, Bennett Travel Management serves clients and the public, Camecon DeWitt and Associates (acquired 1989) is a stock brokerage, The Quality Inn North and Days Inn North in Liverpool (acquired 1985), and Resort Management and Development Corp (1987) provides admin consulting sales and planning for the resort industry.

Bennett Funding Group Inc Alpha Leasing Resort Funding Inc The Processing Center Inc Bennett Bennett Travel Management Camecon, DeWitt and Associates Liverpool Resort Management and Development Corp

Bennett builds high yield insured leases for government users

Michael Bennett markets tax exempt investments backed by schools cities and other governments. He notes all investments are insured and processing is handled from his downtown headquarters. Bennett reports growth from 21.4 million in 1983 to 200 million expected this year and 14.5 million family equity in 1991. He aims to expand into office telecom leasing and notes recent consolidation at the Atrium while hotel redevelopment talks involving the Hotels at Syracuse Square face bankruptcy.

Bennett North Side Bennet Thompson Road Syracuse Square Salina Meadows Salina Bennetts Daniel Coleman Washington, D.C Michael Bennett Murphy U.S. Bankruptcy Court

Also Mentioned on This Page

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