Frederick WARBURG PETERS

President of Warburg Realty Partnership, Ltd.

My mother recalled my grandfather, who was the CEO of Abraham & Straus department stores, saying to her, “You should never permit your business to pay for your personal expenses. There is more to business than money; you have to strive to live your life as an honorable person. My business has been extremely fair to me, and I need to be fair in return.”

These words have had a profound impact on me. In my own career, I wanted to continue the tradition of family integrity that my grandfather had so clearly embraced. As a result, I have never let my company pay for a meal, a taxi or limousine, or anything else that was not clearly business related. What I can’t afford, I don’t buy. I can’t think of a better way to honor my grandfather’s memory.

Keep the business away from the personal