In 1956 Young arrived in the United States with $50.00 in his pocket. With that $50.00 and a job as a busboy in Los Angeles, he saved enough to begin studies at the University of Oregon where he finished all requirements for a Physics Degree and then an Engineering Degree from the Indiana School of Technology in 1959.

After working as an intern, an engineer and the invention of “Paik’s Knee” (Paik’s Knee is a connecting part that allows the assembly of steel buildings without welding), Mr. Paik founded Paco Engineering where he invented the corrugated beam. Paco now ships over 250,000 tons of steel annually.

In 1995 Mr. Paik served on a U.S. delegation to North Korea which served as a precursor to formal economic cooperation.

In 1999, Ernst and Young selected Mr. Paik as the Entrepreneur of the Year for 1999-2000.

So, how’s that for Lifetime Achievement?

Well it’s not enough for Young. In 2005 he received a PhD fromYonsei University!

By acclamation, Joe Tobey of U.S. Financial Network, Inc. has been selected as the 2005 Jack E. Wells Memorial Award recipient.

Recipients of the Wells Award have demonstrated, through their actions over a sustained period, a deep commitment to the manufactured housing industry and its associations. In recognition of their contributions to our industry the Jack E. Wells Memorial Award is the highest honor granted by the California Manufactured Housing Institute.

Mr. Tobey is the fifty-sixth recipient of the Wells Award.

Joe began his career in 1966 operating Tobey Employment Agency. In 1975, he was employed as Finance Manager for a mobile home dealership. In 1980, he joined Ballas Development as General Manager responsible for overseeing and developing finance programs. In 1989, he formed U.S. Financial Network, Inc. His company has placed over $500 million in manufactured housing loans.

He has established a dealer base of over 400 throughout California. Joe’s company is dedicated to the ongoing pursuit of additional financing sources for the industry. He believes in helping all Californians achieve the dream of home ownership.

In his role as an industry champion, Joe has volunteered presentations to many chapter meetings, participated in and conducted numerous financing seminars and recruited many lenders (some of whom would be his competitors) to our industry. He currently serves on CMHI’s Board of Directors and Executive Committee.

In 2003, Mr. Tobey received the California Manufactured Housing Institute’s President’s Award in recognition of his efforts to develop new lending sources in California.

In 2005 Joe became semi-retired and moved to Bellingham, Washington where U.S. Financial Network has an office. He now works more than when he retired. He and his wife Jana still have a home in Lake Arrowhead and plan to split their time between there and Bellingham...if Joe ever stops working.

Young Paik, this year’s recipient, epitomizes lifetime achievement.

Mr. Paik, as a young man, left his home in what is now North Korea just ahead of the Communist army. He sustained himself in South Korea as a chestnut vendor. Roasting chestnuts was a skill he had mastered in his village 25 miles north of Pyonhyang.