[Congressional Record (Bound Edition), Volume 153 (2007), Part 27]
[Extensions of Remarks]
[Pages 36471-36472]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     A TRIBUTE TO THE MODELL FAMILY

                                 ______
                                 

                          HON. EDOLPHUS TOWNS

                              of new york

                    in the house of representatives

                      Wednesday, December 19, 2007

  Mr. TOWNS. Madam Speaker, I rise today to pay tribute and honor the 
work and accomplishments of the Modell family. The Modell family 
migrated from Russia in the 1870s settling on the Lower East Side of 
New York City. They soon began peddling clothing, jewelry, and other 
odds and ends from a pushcart.
  George Modell opened a store at 79 Cortland Street in 1893. The 
business moved to Nassau Street during the 1930s when George's son 
Louis joined and established their pawnbroking business. Louis 
successfully expanded and assumed leadership of the company during 
World War II. In 1956, Gerald, Louis' eldest son had completed his 
studies at Columbia University and was commissioned into the army as an 
officer. In 1959, he joined the Modell Jewelry & Pawnbroker business.
  Gerald Modell opened a second location in 1960 on West 47th Street, 
in the heart of the ``Diamond District,'' where Modell began to extend 
financing to the diamond and jewelry industry. In 1965, Gerald expanded 
by starting a diamond importing company operating in Antwerp, Tel Aviv, 
and Bombay.
  Gerald Modell's son Eric graduated from the University of Virginia's 
McIntire School of Commerce in 1997. After a 3-year career as a 
management consultant at PricewaterhouseCoopers, Eric joined the family 
business in 2000. Today Eric is the executive vice president and is 
committed to expanding the business even further.
  Gerald Modell has been associated with the creation and operation of 
many charitable and philanthropic causes, mostly in the medical

[[Page 36472]]

field. He currently serves on an Advisory Board at Columbia 
Presbyterian Hospital in New York City and is the founder and former 
vice president of the Mental Illness Foundation.
  Today the Modells have six pawnshop locations in operation throughout 
New York City: the Diamond District; Gramercy Park; Spanish Harlem; 
Brooklyn Heights; Brownsville; and Bay Ridge. Annually, Modell makes 
tens of thousands of loans to the public for their short-term financing 
needs.
  Madam Speaker, I would like to recognize and thank the Modell family 
for their nearly 115 years of service to the residents of New York.
  Madam Speaker, I urge my colleagues to join me in paying tribute to 
the Modell family.

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