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Issue Date: Vol. 51, No. 4, April 2011, Posted On: 3/28/2011

Ed Yaffe, Firestone Pioneer, Dies At 74

Nick Montano
Firestone Financial Corp., Firestone, Ed Yaffe, Ed Yaffe obituary, Larry Yaffe, coin-op industry, coin machine business, vending machine business, vending industry, financial services, equipment leasing

NEWTON, MA -- Ed Yaffe, the first employee of Firestone Financial Corp. here, died on March 27. He was 74.

Yaffe played a crucial role at the company’s startup more than four decades ago and during several growth periods until his retirement in 2000. He introduced Firestone to vending and coin-op's equipment distribution segment, redirected the company's focus exclusively on the vending trade and helped it survive and thrive during several dramatic industry changes.

"Firestone still benefits from the results of Ed’s early efforts with continued market leadership in the vending and amusement industry today," the company said.

Firestone was founded in 1965 by attorney Mike Miller and food broker Bob Fanger, who purchased a lending business following the death of its owner, Paul Firestone. They hired Yaffe, who had a background in selling vending machines. Yaffe led the expansion of the company’s market beyond its initial niche of lending to beauty parlors.

Yaffe's son Larry joined the company in 1986 as an intern. Today, Larry is part of Firestone's top executive team, holding the post of senior vice-president of sales and marketing.

In addition to Larry, Ed Yaffe is survived by his wife Eileen, sons David and Eric, and grandchildren.

Services for Edward S. Yaffe

Services will be held at Temple Sinai of Sharon, 25 Canton St., Sharon, MA, on Wednesday, March 30 at 1 p.m. Interment: Sharon Memorial Park. Memorial observance will be held at the home of Larry and Deborah Yaffe following the interment until 8 p.m. and on Thursday from 2 p.m.-4 p.m. and 6 p.m.-8 p.m. In lieu of flowers expressions of sympathy in his memory may be made to Temple Sinai of Sharon.

Visit Stanetsky Memorial Chapel or call (781) 821-4600.

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