American Free Enterprise Day (AFE) is a Palm Beach Atlantic University tradition, dating back to 1984. It is highlighted by a medal ceremony that honors individuals whose hard work and achievement exemplify the best of the American free enterprise system. A medalist of the year is selected and companion medals are awarded to other business leaders as well.
CEO of The Breakers
Mr. Leone serves as CEO of the 128-year-old, privately held Breakers Palm Beach, Inc. and its parent company, Flagler System, Inc. The Breakers is the only large, historic luxury resort in the country still in the hands of its original owners and is one of the longest continuously operating businesses in the state of Florida. Leone was exposed to the hospitality industry at a young age, working in his family’s motels and restaurants. He went on to earn his B.S. in accounting from the University of Kentucky and became a licensed CPA. He practiced public accounting for four years with the Big Eight accounting firm Coopers and Lybrand. In 1985, he joined The Breakers as hotel controller, rising to the position of president in 1994 at age 36. In 2016, he was appointed CEO, the first non-family member in the history of the company to hold this post. Since his appointment, Mr. Leone has been credited with engineering and sustaining the turnaround of one of the greatest resorts in the world by creating and fostering a unique company culture and achieving best-in-class employee fulfillment, guest satisfaction, community service and financial performance. He is actively involved and widely recognized for his work with numerous civic and professional organizations, and he and his wife, Kathy, have four sons.
Troy Maschmeyer, Jr.CEO of Maschmeyer, Inc.
Troy Maschmeyer, Jr. started Maschmeyer Development in 1978, building more than 350,000 square feet of hi-tech and industrial space. Shortly after that, he started Maschmeyer Concrete of Michigan. In 1986, following what he believed to be a new opportunity for growth, Troy started Maschmeyer Concrete of Florida with a single plant and four trucks. Today, the company is one of the leading concrete & block producers with over 500 trucks and 42 locations throughout the state. In 2023, The Maschmeyer Companies were listed #179 of the biggest companies headquartered in Florida (#154 in 2024). Troy has been actively involved in leadership positions within the Florida concrete industry. He is one of the founders of the Florida Independent Concrete & Associated Products Association, serving as President in 1994. He helped found the Concrete Masonry Education Council and was appointed its Inaugural Chairman by then Governor Scott – and continues to serve on its Board of Directors. He also served on the Board of Florida Public Utilities. In 2021, Troy was given the Hicklin Award in recognition of outstanding commitment, dedication and contribution to the concrete products industry. This award has only been given to a handful of people since 1994 and previous winners include “Doc” Rinker, Karl Watson, Sr., John Baker and Karl Watson, Jr. In addition to his industry leadership, Troy has been very active in the community. He has served on the Board of Directors for the Boys & Girls Club of Palm Beach County for more than 30 years.
Kelly SmallridgePresident and CEO of the Business Development Board of Palm Beach County
Kelly L. Smallridge is the President and CEO at the helm of Palm Beach County’s leading public/private economic development agency, the Business Development Board of Palm Beach County (BDB). As the longest-tenured economic development President in the State of Florida, Kelly has a formidable track record, spearheading some of the largest job creation projects in the region. Recognized for her exceptional dedication, Governor Rick Scott presented Kelly with the prestigious Governor’s Ambassador Medal in 2013, acknowledging her relentless efforts in job creation for Palm Beach County. Under Kelly’s visionary leadership, the BDB has revolutionized Palm Beach County’s economy, earning numerous state and national accolades for recruiting and expanding companies in the region. Credited with initiating the Wall Street South initiative, the BDB has attracted over 100 financial service firms to Palm Beach County, contributing to the economic transformation of the area. Her impressive list of awards and recognitions includes being named Florida Economic Developer of the Year in 2022, Business of the Year by the Chamber of Commerce of the Palm Beaches in 2022 and consistently appearing among “Florida’s 500 Most Influential Business Leaders” by Florida Trend for the last decade. Kelly’s impact extends to various prestigious titles, such as “Palm Beach 100” by Palm Beach Media Group, “Top 40 Business Leaders” by South Florida CEO, “Ultimate CEO” by the South Florida Business Journal and more.
AMERICAN FREE ENTERPRISE DAY PRESENTED BY
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The United States of America is an exceptional nation. Founded under the providential hand of God, she has flourished because of the enduring grace of God and because of the pillars upon which she was built: religious liberty, traditional Judeo-Christian morality, constitutional government, the rule of law, personal and political accountability, and free enterprise.
Palm Beach Atlantic University affirms all of these American pillars, but devotes itself, particularly to spreading a thorough understanding of the free enterprise system.
As the Declaration of Independence states, “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty, and the pursuit of happiness.”
These words are the foundation upon which the American free enterprise system was built. It begins with the belief that all people are equal—not by accident nor by decree, but by God’s own purposeful design. Our system is therefore open to all. Simply put, God created each and every one of us. He loves us and wants us to prosper. He has given us the will to pursue the betterment of our lives and the lives of those around us. History has shown that free enterprise provides the economic freedom that best maximizes human flourishing.
The free enterprise system allows human beings freedom. It is the role of the government to guarantee that freedom. Property rights are assured. Contracts are safeguarded by the rule of law. All people are treated equally. Free enterprise is a system in which people are free to exchange their labor and their private property with others to create win-win improvements to their lives and for the population as a whole.
This system often raises a question among people of faith: Can businesspeople both flourish and be good Christians? Absolutely! God has given special talents and abilities to each of us. We are called to use these special talents and abilities to love the Lord our God with all of our hearts and to love our neighbor as ourselves. Create a better product, render a better service, sell them for a lower price, or employ your neighbor and you have shown love to both God and your neighbor.
Our Faith, Roots, and Reason curriculum, which is required of all students at Palm Beach Atlantic University, allows students to enroll in one of two courses: Freedom in American Society or American Free Enterprise. The former examines the meaning and significance of freedom in the American experience. Students explore such topics as the historical roots of American liberty, with special emphasis on the close link between liberty and Christianity, and the nature of freedom as understood by the chief architects of the American political order. It also examines the interdependence between political and economic freedom.
The American Free Enterprise course explores the nature and development of free enterprise within the Western and Judeo-Christian traditions, contrasts free enterprise and collectivism, examines the role of rational decision-making in the economy, and evaluates arguments relating to the efficiency and fairness of the free enterprise system. When governments clearly define and enforce property rights and equally apply the rule of law to everyone, individuals, by pursuing their own enlightened self-interest, will naturally work for the good of society. As Adam Smith said:
“Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice; all the rest being brought about by the natural course of things.”
It is imperative that we pass down to the next generation an understanding of why the American free enterprise system exists, that it has brought human flourishing to past American generations, and that if we do not deviate from it, free enterprise will offer similar flourishing to future generations of Americans.
Support Palm Beach Atlantic University in its mission of educating students about the American Free Enterprise system.
