AMERICAN
CANCER SOCIETY
nesses, Mr. Levy is proud of his
reputation as an independent,
impartial appraiser for busi-
nesses and financial institu-
tions.
Business owners hire Nor-
man Levy to appraise assets
when insurance carriers, banks
or the stock exchange request
dependable estimates of their
worth.
Banks often require ap-
praisals of pieces of machinery
or equipment held as collater-
al. They also hire such compa-
nies to auction off repossessed
collateral when a client defaults
on a loan.
Mr. Levy sets the pace for his
staff. Both he and Mr. Nucian
attended and served as auc-
tioneers at the Adison Mold
sale.
Mr. Levy's father, Norman
Levy, began with small clients
like Adison Mold when he
opened his namesake company
in 1951. When Mr. Levy died
10 years ago, his sons contin-
ued the family business. Robert,
35, is president. David, 31,
serves as one of two executive
vice presidents, along with Mr.
Nucian.
The Nucian family has been
involved with the business for
most of the company's 42 years.
Mr. Nucian's father, Lew Nu-
cian, joined the firm in 1962.
Mr. Nucian came on board in
the early 1970s.
In addition to his corporate
responsibilities, the vice presi-
dent often serves as auctioneer
for sales both larger and small.
He has sold items for Eastern
Airlines, the Jewish National
Fund and Channel 56.
Mr. Nucian and Mr. Levy
also work with business own-
ers and bank officials to arrange
auctions and appraisals.
Bob Champion, assistant
vice president at First of Amer-
ica Bank of Southeast Michigan
explains, "They're accurate;
they're fast. They know their
business."
In addition to bankrupt or-
ganizations, Mr. Levy's firm
also serves companies — like
Chrysler Corp. — that are
downsizing and who require an
auctioneer's services to liqui-
date excess assets.
In the early 1980s, Norman
Levy Associates helped the au-
tomaker liquidate a number of
local and out-of-state plants, in-
cluding Dodge Main in Ham-
tramck and the Mack Avenue
Stamping Plant in Detroit.
James Toger was Chrysler's
manager of salvage and dis-
posal at the time of the liqui-
dation. He worked closely with
the firm's founder and attrib-
utes much of the liquidation's
success to their worldwide mail-
ing list, which drew buyers from
all industries.
"They were instrumental in
bringing people in from all over
the world," he recalls.
Daryl Moss of DeVlieg-
Bullard, Inc. uses the auction-
eers in a similar manner. The
Rockford, Ill., company services
the machine tool industry by re-
placing and remanufacturing
parts and repairing equipment.
Over the years we've ac-
quired companies," Mr. Moss
says. "We move them out of the
facility, sell the equipment and
move them to a smaller facili-
ty." Norman Levy Associates
assists with the equipment
sales.
"They know our business,"
Mr. Moss says. "They do a good
job of advertising and promot-
ing (the auctions.)"
An in-house advertising de-
partment promotes sales
around the client's home mar-
ket and around the world, de-
pending on the size of the sale.
For McDonnel Douglas, the
company produced a multi-lan-
guage brochure in Spanish,
Chinese and English, which
they then sent out worldwide
to select 500,000-name mailing
list. Mr. Nucian expects to at-
tract everyone from "someone
who might only need a welder,
to the world's major corpora-
tions."
He and Mr. Levy have been
preparing for the a McDonnel
Douglas auction for over a year.
"This is one of the largest deals
in history," they explain. "Be-
cause of who we are, our repu-
tation, our repeat business,and
the size of our staff, they chose
us." ❑
Elscint Reports
Profit
Elscint, traded over-the-counter
in New York, last week report-
ed an 11 percent rise in third
quarter net profits.
The manufacturer of com-
puter-based medical diagnostic
imaging systems completed the
third quarter with a net profit
of $5.88 million, or $0.07 per
share. This compares with a
$5.29 million net profit, or $0.07
HOLIDAY GIFT SHOW
November 18 & 19
Thursday 10:30 - 7:00 • Friday 10:30 - 4:00
PRUDENTIAL TOWN CENTER, GARDEN ATRIUM
10 1/2 MILE ROAD & EVERGREEN, SOUTHFIELD
Proceeds will be donated to the
SHIRLEY WIMMER MEMORIAL FUND
which supports childrens programs such as
Camp Catch-A-Rainbow for kids with cancer
Cash, Checks, Visa & MasterCard Accepted
For additional information, call
The American Cancer Society (313) 557-5353
sponsored by Prudential Town Center & Radisson Plaza Hotel
celebrate the season
ATTENTION HOME BUYERS
WANT TO PAY
ZERO POINTS?
There's nothing to it
per share, in the corresponding
quarter last year. Net income
for the first nine months
reached $22.43 million, com-
pared with $14.37 million in the
same period last year.
C,
Kudos
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Please mail typed and double.-
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The MORTGAGE COMPANY
Of Michigan, Inc.
313-375-2626
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