The Los Angeles Business Journal honored Edward P. Roski Jr., chairman and chief executive of City of Industry-based Majestic Realty Co., as the 2006 inductee to its Business Hall of Fame last week.

Roski was the sixth “Business Person of the Year” honoree.

A short video tribute recounted Roski’s personal and professional accomplishments. The presentation focused on his role in building Majestic Realty’s 73 million-square-foot real estate portfolio, his vision of the Staples Center for downtown Los Angeles and his philanthropic work through the Majestic Realty Foundation.

Following the video, Roski spoke about the role of the business community concerning the environment. He explained that businesses needed to be at the forefront of change and how companies can be more profitable if they can gain a positive public image .

“Many studies have shown that going green helps a company’s public image,” said Roski. “You even see companies like Wal-Mart taking initiative to be environmentally friendly.”

The event was held at the Millennium Biltmore Hotel in downtown Los Angeles and attended by more than 500 business leaders.