Education: Bachelor of science, industrial education, Purdue University; MBA, California State College - Long Beach
First job: Delivering newspapers at age 9
Assigned to the Air Force Space Systems Division for four years testing weapon systems. Joined IBM and worked on computers, left to be an entrepreneur. Entered the health care business and worked in that area until buying Klipsch Audio in 1989. Also serves as chairman and CEO of the NYSE-listed Windrose Medical Properties Trust.
Biggest challenge in business:
Buying Klipsch Audio in 1989. It took us until 1995 to decide how we would grow the products and how we would grow the channels of distribution and create a successful company in the long term.
Whom do you admire the most in business and why?
C. Michael Armstrong, retired chairman and CEO of AT&T, before that chairman and CEO of Hughes Aircraft and before that one of the top three or four people at IBM. Mike was my manager at the IBM Co. during my stint here in Indianapolis. He was smart, ethical, hard-working and clear in what he does and why he does it.
I build my companies on ethics and respect for the individual. Those two criteria separate out a large population into a pretty small group, and so ethics and respect for every individual are critical, but from a business standpoint, I would tell you that reasonable expectations are one of the keys to success.