Wednesday, December 4, 2002

Party City receives state ethics award

Party City of Atlanta, Inc. has received the 2002 Georgia Business Ethics Award in recognition of its strong commitment to employees and its overall business philosophy.

Company Chairman Frank Buonanotte along with President and CEO Dick LoPrestireceived the award on behalf of Party City at an awards luncheon held November 7 at the downtown Capital City Club.

The Society of Financial Service Professionals' Atlanta Chapter in partnership with Georgia State University's J. Mack Robinson College of Business selected Party City of Atlanta to receive the award in the mid-sized business category and chose Atlanta-based Professional Management Resources, Inc. in the small business arena.

"Party City is honored to be recognized for how we choose to run our business," he says. "It's great to know people appreciate that when they come into our stores, they'll not only find everything they need for their next birthday party, wedding or holiday celebration but that they'll also be treated with the utmost respect as human beings."

According to LoPresti, this philosophy is not new to Party City of Atlanta and it has served the company's advancement well.

"We started this company more than ten years ago built upon an inherently ethical philosophy grounded in valuing people and treating them with the consideration all people deserve," he says.

"We feel so privileged to be in the company of other enterprises here in Georgia that share our more traditional values," says LoPresti.

He explains that Party City of Atlanta has always held a strong commitment to treating all people fairly and to consistently striving to do the right thing - regardless of the situation.

"We have never had to instill an ethics 'program," he says.

"Our approach to business inherently encompasses the highest moral standards."

Until last year, this value system was primarily communicated by word of mouth, in small group meetings and in everyday interactions between employees.

In early 2001, corporate leaders gathered a team of 12 employees to fashion a formal mission and value statement for the company.

The resulting mission statement card has now been widely distributed among its stores and beyond.

"Party City of Atlanta has demonstrated what's right about American business," said James R. Wech, CLU, ChFC, president of the Society of Financial Service Professionals' Atlanta Chapter. "GBEA recipients are companies that espouse to do the right thing, no matter what the business cost may be."

Local GBEA recipients were selected by an independent panel of judges drawn from academia and business. Companies were evaluated according to criteria established to measure the organization's commitment to sound ethical business practices in management philosophies and everyday operations. Local recipients move up to a national competition for the American Business Ethics Award.

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