As Chairman and President of Safeway Inc., Peter A. Magowan engineered a turnaround that rescued the venerable grocery chain from a hostile takeover and restored it to profitability. He later enjoyed a successful 15-year run as General Managing Partner of the San Francisco Giants baseball team and led the drive that built the first privately funded American baseball stadium in over 30 years. Magowan was born in the grocery business. His grandfather had helped found the Safeway chain in the 1920s, but Magowan learned the business the same way other men in his family had: from the bottom up. He began as a teenager, mopping floors and bagging groceries. He graduated from Stanford, earned a Mater's degree at Oxford, and pursued graduate studies in international relations and diplomacy at Johns Hopkins before returning to work in the family business full-time. He served as a real estate negotiator in Washington, D.C. and then as a store, district and division manager across the Southwest before becoming CEO of Safeway at age 38. When the chain was threatened with a hostile takeover, Magowan formed an alliance with leveraged buyout specialists Kohlberg Kravis Roberts and took the company private in 1986. He sold off unprofitable stores and renegotiated the remaining labor contracts, returning the firm to profitability in fewer, and more selective markets. In this address to the Academy of Achievement, recorded at the 1992 Summit in Las Vegas, Nevada, Magowan discusses the unique lessons of the supermarket business and the lasting impact of the most basic workplace values. The year following his address to the Academy, Magowan and a small group of partners purchased the San Francisco Giants. Magowan spearheaded the construction of a new stadium, AT&T Park. Since the opening of the park, the Giants have been in the top half of revenue earners in professional baseball. Magowan retired from the Giants management in 2008.