Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, February 2, 1991 TAG: 9102020059
SECTION: CURRENT PAGE: NRV4 EDITION: NEW RIVER VALLEY
SOURCE:
DATELINE: BLACKSBURG LENGTH: Short
"I attribute whatever success I've had in the world to my education, and Virginia Tech was it," said Peterson, a 1936 accounting graduate.
Peterson, of Greensboro, N.C., worked for Arthur Andersen in New York, the Magnat Cove Barium Corp. and later for Burlington for 32 years.
He retired from Burlington in 1978 as an assistant vice president responsible for internal auditing of international operations. At that time, Burlington Industries was the world's largest textile manufacturer, with $2.5 billion in annual sales.
After retirement, Peterson volunteered to help a Greensboro nursing home that was in financial trouble. After successfull turning around the nursing home, he later ran Lance Processing, a $300 million company, taking it in 10 months from near-liquidation to a sale to Tyson Foods.
"I really believe that if the world concentrated on education and getting people equipped to make a living, many of the problems facing our country would be solved," Peterson said.
He has asked that the endowment be awarded to someone who teaches auditing in the business college.
by CNB