Former Mayor Peterson joins Kite Realty board

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Former Indianapolis Mayor Bart Peterson, who grew up around the commercial real estate business, is making a small return to his roots.

Peterson, 55, has been appointed to the board of trustees of Indianapolis-based Kite Realty Group Trust, the company announced Tuesday.

The former two-time mayor is better known for politics and public policy, but he spent many of his early years working in his family’s commercial real estate company.

Peterson’s father, Howard, developed the massive Castleton Commercial Park in the 1960s. His firm, the Precedent Cos., was one of the city’s top developers until last decade, when it fell victim to the recession. It now operates as the Peterson Co. under the direction of Bart's brother, Tim.

Peterson was heavily involved in the family business at times, including a stint in the mid-1990s as president of the company. He left that position to run for mayor in 1999.

He is currently the senior vice president of corporate affairs and communications at Eli Lilly and Co., which he joined in 2009.

As a member of Kite's board, Peterson will receive an annual cash retainer of $42,500 and first-year stock awards worth roughly $62,000.

"We are delighted to welcome Bart Peterson to our board of trustees," Kite Realty CEO John Kite said in a prepared statement. "Bart's significant background and stature as a business and civic leader fit extremely well with our current board and make us an even stronger company."

Kite shares rose 2.4 percent Tuesday morning, to $6.44 each.


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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.