Peter G. Scotese*

Peter Scotese was born in Philadelphia in 1920, and never knew his father, who had died that same year. His mother struggled to support her four children and finally, when he was eight, enrolled him in Girard College, a school for orphaned boys. At Girard, he washed dishes, cleaned buildings, and waited tables. When he graduated from high school, he was near the top of his class and a member of the National Honor Society.

After graduation, Scotese worked in real estate and insurance while studying accounting and business administration at the University of Pennsylvania's Wharton School of Business. He did bookkeeping and worked part time in a restaurant to help support his mother and sister.

Following service in World War II, during which he was awarded the Bronze Star and two Purple Hearts, Scotese began a career in textiles. He started at Indian Head Mills of New York, and then he worked for the Milwaukee-based Boston Store division of Federated Department Stores, Inc. Later, he joined Springs Industries, Inc., one of the nation's largest manufacturers of finished fabrics and home furnishings products.

In 1969, Scotese became the first nonfamily president in company history. During Scotese's 12-year tenure as president and CEO, sales at Springs tripled, and earnings from continuing operations more than quadrupled. In 1983, the New York Board of Trade's textile section named him Textile Man of the Year.

Scotese believes society needs more structure and discipline. "Therefore, I think business leaders would be well-advised to spend much more time trying to have an influence on the political system," he says, noting that his greatest satisfaction in life is knowing that "there were many people over time who reached personal heights that were far greater than they thought possible, and blamed it on me!"