Sol Berman: A Pioneering Trend-Setter Who Helped Put the Profit in Truck Leasing

Sol Berman, who died in February, found a profit margin half a century ago in the then-primitive notion of leasing trucks to operators and developed or refined concepts that are in now general use by full-service vehicle leasing businesses.

	Berman Leasing
	Sol Berman (on bumper) and brother Bernard (on fender) are pictured with other company executives who helped build the truck leasing business.

His precept, “No lease is profitable or unprofitable until the returned truck has been sold,” turned the heads of investors and helped make the leasing business into what it is today.

The Pennsburg, Pa., farm boy joined his brothers — George, Philip and Bernard — in creating dynamic trucking operations after World War II, culminating in the listing of Berman Leasing Co. on the New York Stock Exchange. When the firm was sold in 1967, it was operating nationwide with 14,000 heavy-duty vehicles in its stable.

As the son of a scrap dealer, Sol Berman had learned something about residual value long before it became a profit center for vehicle leasing.

Charles M. Donovan is the

resident of Charles Donovan Associates, a distribution consultant firm that specializes in traffic and transportation, private trucking operations, vehicle leasing and computer applications and studies.

For the full story, see the Oct. 9 print edition of Transport Topics. Subscribe today.