Q: What does it feel like to drive down Peña Boulevard?
A: I try not to focus very much on the boulevard. My children think it’s cool. It’s a great honor and something I am very proud of. But usually things are named for you when you are dead, and as far as I know I’m still alive.
It’s a humbling experience, and sometimes it’s a little uncomfortable for me to realize my name is plastered on a big sign.
Q: Denver International Airport opened 10 years ago. Has it lived up to expectations?
A: The impact it has had on the state economy and the metro economy has been extraordinary. I am proud of its international status. People from around the world come here and marvel at it and, frankly, would like to have it in their community. It’s very functional and efficient.
Q: Yet compared with other airports of its size, DIA has few international flights. Why?
A: The city needs to generate more international traffic. By that I mean we need more internationally headquartered companies in the city. Once that begins to occur, there will be more global business travel.
That’s the main issue: How can we attract more international companies to Denver? We need bolder leadership on the part of the state and community to support current business and recruit new businesses.
Q: Before you left office you gave the go-ahead for United Airlines to develop an automated baggage system. Any regrets?
A: Well, let me set the record straight. My administration did not want an automated baggage system. United Airlines came to us on two occasions, and on two occasions we said no. We thought it was far too complicated, and it had never been tested. In the end, as part of the ultimate negotiation to have United agree to go to DIA, we said in concept we would support an automatic system. The details were worked out after I left office. It did not work, but people need to understand it was driven by United Airlines.
Q: As a former U.S. secretary of transportation, what do you think will improve airline security?
A: Airline security is related to national security, so they are connected. What we should have been doing is improving our intelligence and counter-intelligence agencies. I think President Bush made a mistake by focusing on a new Department of Homeland Security. He combined agencies and departments that weren’t the main problem for the Sept. 11 attacks.
We have done a lot with screeners and new technology, and we are now dealing with international flights that fly into the U.S. But the most important thing is intelligence on passengers. That should have been a priority six years ago.
Q: What is your legacy in Denver?
A: More than anything else, I’m proud of opening up government to people. For many years, citizens across the board felt they didn’t have access to their city governments. I think we dramatically changed that.
Q: What impact will the recently approved FasTracks plan have on the state’s economy?
A: It will be huge. Communities that have options for travelers will be more efficient from an economic perspective. You can make your economy more productive because workers are getting to work more quickly. You are improving the quality of life for families.
Q: What cities excel in transportation?
A: Cities that have a better system because they invested earlier are cities like Portland (Ore.). Chicago has done a very good job. But not a lot of cities have made significant progress because you constantly have to make new investment and integrate it with your land use and development decisions.
Q: What has been your biggest success at Vestar Capital Partners?
A: The value I bring to this firm is to bring more opportunities for companies that we can invest in, buy or grow. I think I bring a much different view because I come from a different perspective.
Q: What is an ideal vacation for Federico Peña?
A: I’m a beach person, so probably something seaside. My last vacation, other than to the mountains, was to south Texas to visit my parents and to South Padre Island. I also enjoyed visiting Mexico City.
Q: You were raised in Texas and your father was a cotton broker. What did you learn from him about business?
A: My father was a great businessman. I learned that hard work is very important. I learned there are no shortcuts in life. And if you find a shortcut, you won’t be successful for very long.
I also learned that one person doesn’t make a business; it takes a team effort. But I also learned that there is a boss.
I learned how to be an executive and to use practical judgment to make decisions. I also learned to work with co-workers in a respectful way to reinforce the team.
Edited for space and clarity from an interview by staff writer Will Shanley.
