Joseph Purcell Wins Philadelphia Business Journals Cfo Of The Year Award
FILED TO: What's New
We would like to congratulate our very own Joseph Purcell for receiving this tremendous and well-deserved honor! See below for the interview write-up Philadelphia Business Journal put together.
Since 2001, Joseph Purcell has been with The Michaels Organization, a real estate firm that works with cities, rural areas, major public universities, the faith community and others to develop creative solutions to housing challenges. During Purcell’s tenure, the organization won the coveted Property Management Company of the Year award at the National Association of Home Builders Pillars of the Industry Awards and has overseen a smooth transition to a new corporate headquarters. Due to the coronavirus pandemic, the affordable housing industry has faced new, unexpected challenges in recent months. Purcell has demonstrated his ability to adjust to changes, shifting significantly to manage cash flow while rents are down in an erratic bond market. His leadership has helped the development team close four deals during the pandemic and his conservative, no-debt approach has enabled Michaels to keep a steady ship, with no layoffs to date.
How has Covid-19 changed your role as CFO?
Covid-19 has forced our entire management team to come together to address the welfare of our employees and their families, while overseeing the survival of our organization and prepping for the “New Normal.” We are working differently, especially employees working from home, who have become closer as a group by being apart. I have also become much more appreciative of our employees and expect these benefits to be long lasting.
What personality traits does one need to succeed in your profession?
A few of the traits needed consist of the following: One needs to be detailed and consistent, be a logical thinker and always have a Plan B. Additional traits are to be fair, be a good listener and to talk with other CFOs.
Name one person you admire and why?
The one person I admire most would be Mike Levitt, founder and owner of our organization. Not only is he my boss, my mentor and my fishing partner, he is also a good friend. Mike has contributed greatly to my success, teaching me to keep things simple and get to the point. You can take Mike’s word to the bank. Mike is the most generous person I have ever met, both with his time and his money.
What is the best part of the workday?
The best part of the workday is the last half hour of the workday; this is the time when I plan and prepare for the next workday.
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