S. Herbert Rhea's Obituary
S. HERBERT RHEA, 87, died on January 3, 2010 after a long illness. He was born on August 18, 1922, to Edward Francis Rhea and Adele Herbert Rhea in Lexington, Mississippi. He is survived by his wife of 64 years, Linda Williams Rhea; son Stephen H. Rhea. Jr. and wife Leigh Schopfer Rhea of Memphis; daughters Suzanne Rhea Burgar and husband Dr. Paul Burgar of Memphis, and Marilyn Rhea Cheeseman and husband Van Lee Cheeseman of Holly Springs, Mississippi; granddaughters Emily Keith Rhea and Elizabeth Leigh Rhea of Memphis; his sister Frances Rhea Murphy of Charlottesville, Virginia, as well as numerous nieces and nephews. He was preceded in death by his brother Thomas E. Rhea. He was a 1940 graduate of Central High School in Memphis. During World War II, Mr. Rhea served as lead navigator for the 452nd bomb group of the United States 8th Air Force, receiving the Distinguished Flying Cross before retiring with the rank of major. After serving in the military he attended the University of Tennessee at Knoxville and in 1948 earned a bachelor of science in accounting. He became a certified public accountant in 1950 and began his career with the firm of Haskins & Sells in St. Louis, Missouri. He later returned to Memphis to work for Reynolds Bone & Griesbeck, CPAs. In 1954, he partnered with Jack Ivy to form the Rhea & Ivy CPA firm which recently merged with Dixon Hughes PLLC. He served as president of the Tennessee Society of CPA’s from 1963-64. In 1973 he left public accounting to start SSM Corporation, a financial consulting firm, later to become SSM Partners, a venture capital firm. In 1983 he founded and became president of Rhea Financial Corporation. He also partnered with Frank Norfleet and SSM Corporation in 1987 to create Private Investment Consortium Ltd. He served and held leadership positions on a number of professional and civic boards including, elder emeritus of Second Presbyterian Church, chairman emeritus of the Dixon Gallery and Gardens, life trustee of Rhodes College, co-founder of the Second Presbyterian Church Foundation, and chairman emeritus of the Thomas W. Briggs Foundation. Mr. Rhea received many honors during his lifetime including the Distinguished Service Medal and an honorary doctorate in humanities from Rhodes College, the Cook-Halle Award for community service from Carnival Memphis, the Master Entrepreneur Award from the Society of Entrepreneurs, and the Distinguished Alumnus Award from the University of Tennessee College of Business Administration. Mr. Rhea’s integrity, generosity, and commitment to excellence in all of his endeavors made him a role model and mentor to generations of business and community leaders.
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