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Philadelphia Business Journal
CEO Profile
Personal information
Name:
Tom Scannapieco
Title:
President
Company:
Scannapieco Development Corp. of New Hope.
Type of company:
Real estate development firm.
Education:
BS, physics, Saint Joseph’s University.
Little known fact:
I served as chief scientist on board a
naval
research aircraft when I was 23 for a three-day mission.
Business philosophy
Essential business
philosophy:
To only be involved with
projects that excite me and embody a substantive challenge.
Best way
to keep a competitive edge:
To always assemble
a first-class team.
Yardstick of success:
If my children follow my example
to
always follow their passions and have the confidence to
pursue their dreams.
Goal yet to be achieved:
To develop a 700-acre
premium golf
course community for very affluent empty-nesters.
Judgement calls
Best decision:
In
1994, I structured a joint venture with
Doubletree Hotels to pursue the 500-room convention center
hotel in Atlantic City. I eventually decided that we could improve
our competitive position if we brought Caesar’s Casino into the
joint venture as a third partner. That ultimately led to our team
being selected as the developer of the $84 million hotel in a
highly competitive environment.
Worst decision:
I had a handshake agreement
to buy 170 acres
of land at a very attractive price and refused to further participate
in negotiations when the seller produced a competing offer at the
11th hour. That cost me a very attractive opportunity.
Toughest decision:
To downsize my company during the S&L
crisis and let go of people who helped me build the company.
True confessions
Word that
best describes you:
Tenacious
Like best about your job:
The orchestration of taking a
project
from concept to ground-breaking.
Like least about job:
The length of
time it takes to bring a
concept to ground-breaking.
Most important lesson learned:
To always
be fair, even
when you have the upper hand.
Life motto:
“ Prosperity is produced
not so much by great pieces of
good fortune, as by little advantages that occur every
day.”
— Ben Franklin (and Tom Scannapieco.)
Greatest fear:
I am not afraid of prime hitting 21 again,
but I
sure would not want to live through another S& L crisis.
Person
most interested in meeting:
Hiroshi Hara, a
world-renowned architect. He designed the Yamato
International Building in Tokyo and other noteworthy
landmarks
that exemplify detail and an innate ability to master
space and architecture.
Most respected competitor:
Developer Greg Robbins, the
developer of Allison Island in Miami Beach.
First choice for a new career:
Film producer.
Etc.
Award most proud of:
Being listed as the fastest-growing
of
real estate development firms on the Inc. 500
List.
Most influential book:
“The Autobiography
of Thomas
Jefferson.”
Favorite movies:
“Dr. Zhivago,” “Casablanca,” “K-12.”
Favorite
restaurant:
In Philadelphia, Cuba Libre; in New Hope,
Zoubi’s
Favorite vacation spots:
Kauai and Montreal
Favorite way to spend free time:
Snowboarding
with my two
children, when they let me.
Automobile:
2001 Jaguar XJ8L.