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Executive Profile: Martin Nesbitt, the first friend

Executive Profile: Martin Nesbitt, the first friend

Chicago businessman Martin Nesbitt will sit on the dais in front of the U.S. Capitol on Monday as his best friend is inaugurated president of the United States.

The two men — successful African-American leaders who share a record of high achievement and a bond forged on the basketball court — will celebrate as Barack Obama marks the start of a second term and Nesbitt begins a transition of his own.

After more than a decade as chief executive of The Parking Spot, an airport parking company he co-founded in 1998 with Penny Pritzker, an heir to the Hyatt hotels fortune, Nesbitt has decided to move on. The breakup of the Pritzker fortune brought the sale of the firm he built,...