Page 22: of Maritime Reporter Magazine (April 15, 1974)

Bossidy To Head

Leasing Program For

General Electric Credit

General Electric Credit Corpora- tion has named Lawrence A. Bossi- dy to head its $1.5-billion leasing program—largest in the United

States, it was announced by C.G.

Klock, president and general man- ager.

Mr. Bossidy has been with

GECC and its parent organization,

General Electric Company, for 17 years and until his recent appoint- ment, headed GECC's growing ac- counts receivable financing busi- ness, which supplies working capi- tal to manufacturers and distribu- tors. He is a vice president o'f the company.

GECC's latest major achieve- ment in leasing was the purchase of the .supertanker Brooklyn, larg- est ship ever built in the United

States, now on 25-year charter to

American Petrofina Inc.

The company also recently an- nounced that its leases in the ener- gy field alone—oil drilling, gas exploration and processing, coal mining and handling, and tankers —have exceeded $600 million in the past five years. Mr. Klock noted that energy-related leases by

GECC are scheduled to be at an even higher annual rate in 1974.

GECC was the first lessor to combine low-cost leveraged leasing for industrial pollution - control equipment with senior funds pro- vided by tax-exempt revenue bonds.

Its leasing activity has included equipment in all forms of commer- cial transportation—jet airliners, railroad rolling stock, truck fleets, and a number of specialized and general cargoships in addition to tankers.

Mr. Bossidy is a graduate of Col- gate University, joined General

Electric Company in Schenectady,

N.Y., in 1957, and has held posi- tions of increasing responsibility in auditing and 'finance since that time. He joined GE Credit in 1970 as manager of finance for the com- mercial and industrial financing de- partment, and was named manager of accounts receivable financing business in April 1973.

T. Smith & Son, Inc.

Appoints C.C. Morton •

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Christopher C. Morton

The appointment of Christopher

C. Morton to the executive staff of

T. Smith & Son, Inc., was an- nounced by James E. Smith, presi- dent of the New Orleans, La., stevedoring firm.

Mr. Morton's primary responsi- bilities will be in the areas of busi- ness development and customer and labor relations, Mr. Smith said.

Mr. Morton is a native of Ohio.

He received his early education in the private school systems of

Cleveland and Gates Mills, Ohio, and holds a bachelor's degree in business administration from Bos- ton College, Boston, Mass.

Mr. Morton joins T. Smith & Son after a 14-year career in stevedor- ing and terminal operations in the

Great Lakes region. He is a trustee of the Great Lakes Terminals

Association and a past national chairman of the Management Car- go Handling Safety Committee.

He is presently serving as first vice president of the National Mari- time Safety Association. Mr. Mor- ton was recently named to repre- sent the stevedore industry, (for terminal cargo-handling technici- ans) by the Occupational Safety and Health Administration.

Palle Bistrup Joins

Nordkapp Chartering

Palle S. Bistrup has joined Nord- kapp Chartering Inc. in the capaci- ty of vice president, it was recently announced by the Greenwich,

Conn.-based firm. Mr. Bistrup was previously associated with Stolt

Nielsen Chartering Inc. 24 Maritime Reporter/Engineering News •sun* M.V. Klassen undergoes annual overhaul and repairs at

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