PEAVEY INT'L. HEADQUARTERS — The Better Business Bureau of Mississippi honored Peavey Electronics founder and CEO Hartley Peavey today with its Torchbearer Award for integrity in business. During the fifth annual Mississippi Business Integrity Awards, co-presented by the Mississippi Business Journal at the Telcom Center in Jackson, Mississippi BBB President Bill Moak said that Peavey's long record of integrity and ethical leadership make him an ideal model for other businesspeople to follow. "Leading a corporation is a difficult task, especially in a highly competitive environment," said Moak, "and it's even more difficult to maintain high ethical standards in such an environment. In today's climate of doubt about corporate ethics, it's important that we find people with solid personal and business integrity to whom others can look as examples. "Mr. Peavey has stated many times that his business philosophy is very simple: it's based on the Golden Rule of treating people the way you want to be treated. His commitment to practicing that core value has contributed heavily to the legendary quality and longevity of Peavey products." Peavey has also received leadership honors such as the National Literacy Honors Award, multiple Presidential "E Star" Awards for excellence in exporting and the Mississippi World Trade Center's Guy Tozzoli Peace Through Trade Distinguished Leadership Award, among others. He said that this award represents the efforts of many Peavey Electronics employees to succeed through fair business practices, and to allow the innovative spirit and a demand for quality drive the company. "When I started out in the music business, my competitors were more interested in charging the highest prices they could rather than listening to their customers and providing solutions," said Peavey. "I decided that I would build quality music and sound gear for a fair price. That mission statement provided the foundation for our first 42 years of success, and it continues to motivate us today. "I am humbled that the Better Business Bureau of Mississippi and the Mississippi Business Journal are recognizing the commitment of Peavey Electronics to conducting business in a fair and honorable fashion."