By Sophia Chang
Born in Manhattan on Oct. 10, 1947, Palumbo grew up in Astoria and spent most of his life in Flushing, his son Joe said.Palumbo began writing for the TimesLedger last year, covering all aspects of the borough's financial world in his weekly column “How's Business?” His topics ranged from investment funds to Jamaican fried patties, the subject of his last printed column for the paper.”He loved everything about business and he enjoyed writing for the TimesLedger because he could spread his views,” said Joe Palumbo, who will be taking over his father's column in early September. “He used to get a million phone calls for advice, opinions, background info. He tried to write about stuff that would touch on a little bit of everything.””It doesn't matter if you're the butcher, the baker or the candlestick maker,” the younger Palumbo said. “Finance affects you.”Palumbo worked for Lufthansa Airlines as a regional sales director for 33 years before forming his own company five years ago, the Flushing-based investment fund company Palco Group.”My father was an investment genius,” Joe Palumbo said. “Everything he built was from the ground up.”He said that an early childhood illness he suffered wiped out much of his father's savings. “I had spinal meningitis when I was 6 years old,” Joe Palumbo said. “My father had a little over $200 in the bank after paying for everything.”But, he said, in a show of his fortitude and business savvy, Palumbo recovered and built a successful career afterward.”He was self-made. He loved business.” Palumbo was a well-traveled man who never lost touch with his roots in Queens, his son said.”He spoke English, German, a little Spanish and Italian,” Joe Palumbo said, adding that his father had learned German on his own. “He loved to travel.”But, his son said, “he was so happy in Queens because he said Queens had given so much to him.””My father taught me and my brother everything as far as being good guys and growing up the right way,” Joe Palumbo said. “Not a day went by when I didn't take my father's advice. There's not a bad word to be said about him. He was an unselfish guy, and he really gave a damn.”Palumbo was buried in St. Mary's Cemetery on Saturday. He is survived by his wife of 34 years, Ana, his two sons Joseph Palumbo III and Peter A. Palumbo, daughters-in-law Shirley and Lori, and his sister Frances Palumbo of Bayside. Condolences may be sent to the Palco Group, 55-08 138th St., Flushing, NY 11355.Reach reporter Sophia Chang by e-mail at news@timesledger.com or by phone at 718-229-0300, Ext. 146.
