Robert D. Newman, Patriarch of Newman Family and Retired President of Loeb, Passes Away at 87
CHICAGO, IL (January 21, 2009) - Robert D. (Bob) Newman former owner and retired president of Loeb passed away Sunday, January 18, 2009 at his home in Florida. Bob was the father of Loeb ambassador James L. Newman and grandfather of current Loeb president, Howard M. Newman.
Bob was the third of five continuous Newman generations in the used manufacturing equipment industry when he joined Newman Tallow & Soap Machinery in 1946. In 1953, he acquired Loeb Equipment and Supply Company which he ran with his father Irwin, later forming an appraisal division called Newman Industrial Machinery Service. Bob’s son James (Jim) Newman joined the family business in 1970 and succeeded him as president of the company when he retired in 1975. Now in its fifth generation of family ownership, Loeb is run by Bob’s grandson, Howard.
"He not only taught me the used machinery business, but his philosophy of how to treat people will always be with me," stated Howard Newman, Loeb president. "Make sure you can look at yourself in the mirror at the end of the day and know you did the right thing."
Bob is preceded in death by his wife of 49 years, Carolyn, and is survived by his 3 children, 5 grandchildren, and 5 great-grandchildren.
Donations can be made in Bob’s honor to Lambs Farms of Libertyville, a premier non-profit organization serving adults with developmental disabilities. Information is available online at http://www.LambsFarm.org.
For five generations since 1880, Loeb has been a trusted provider of reliable equipment and related services that help manufacturing and financial companies grow their business. Headquartered in Chicago with a 150,000 square foot facility, Loeb provides equipment, appraisal and financial services to global banking organizations and manufacturing companies specializing in the food, pharmaceutical, cosmetics and chemical industries. Loeb services include: equipment sales and purchases, certified market appraisals, liquidation and auction coordination, and purchase lease back financing. For more information on Loeb, please visit: http://www.LoebEquipment.com.