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Steve Reid's advice to graduating finance major

Steve Reid, CLP

Currently unemployed, Steve Reid, CLP is the former Marketing Manager/VP of Marketing for LEAF, Third Party Funding/Santa Barbara Bank & Trust since 1989. He started in leasing in 1982 working for Ron Wagner at the original Heritage Leasing Corp. Prior to entering the leasing industry, Steve spent nine years selling computer system for various companies such as Burroughs and Wang Laboratories. This is where he got his first exposure to leasing as he utilized it in the sale of computer systems.

He has served on the United Association of Equipment Leasing Board of Directors and since February 5, 2004, the Leasing News Advisory Board.

Q. What advice would you give to a graduating finance major looking for a job in May or June of 2009?

"A. Initially, considering my current status, I would have said unequivocally no, but after reconsidering and giving this some thought I would say definitely yes. Looking back on the 25+ years in the leasing industry, I thought about the individuals I have meet, the ones who hired me, my fellow employees, (some close to 20 years at SBBT) the many brokers and lessors who were my customers, and my friendly competitors. I would not have wanted to miss the friendships and relationships that have developed, the challenges and fun that was experienced on a day-to-day basis and the industry has been personally satisfying and rewarding.

"From my past experience we have faced some tough times in the 80’s 90’s and in the first part of this decade, though this is the toughest with the credit markets in shambles today. There are a numerous industries and segments that are also in dire chaos and presently I certainly would not suggest to a son or daughter that they should be an engineer in the auto industry, an architect designing new buildings or a purchasing agent for a retail chain.

“So my advice is, unless you plan on marrying rich, the leasing industry can be a very viable choice for a career, we are just one of many industries going through changes, but we will survive, but maybe in a modified form."

Steve will be covering the National Association of Equipment Leasing Brokers Las Vegas Conference April 30-May 2, 2009 for Leasing News. In the meantime, he continues his favorite hobby, prospecting for gold (Don’t laugh, at almost a $1,000 an ounce, he might be doing very well. Editor)

Steve's Gold Prospecting Vehicle, Nevada City.

Dredging in small streams in the northern part of the state

Shoveling Dirt in the Mojave Desert

[Leasing News Advisory Board]