...AMP How to Become the Richest Person in America 1. After reading the case study of John Jacob Astor; I was astounded- how an immigrant born in a none-too-prosperous butcher family ended up with millions of dollar, becoming the richest person in America? And it arouses the curiosity behind his success and abundance wealth. We want to know why he was successful and rich. His success started with vision in mind of having his own fur business. I think vision helps one to get successful if one follows his/her goal consistently and disciplinarily. He was a man full of traits like attention to details, determination and had a great foresight. After he married Sarah Todd, he opened his own musical instrument shop in mother-in-law’s house. Now we want to know why he opened musical instrument shop instead of Fur Company. He opened the musical instrument shop from the dowry’s money. And opening a fur company requires a huge investment. But it was the beginning of building capital and starting his career. Even though he opened the musical instrument shop, he was engaged in fur trading, he left the shop in order to travel to different places to establish the relationship with fur merchants (domestic and international) while Sarah was looking after the shop. By 1788, Astor was involved in fur trading with Montreal. There he bought furs and it got shipped to London and Rotterdam and finally to New York. Here a question may arise Why not ship fur directly to New York as it would save...
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...In the year of 2005 Astor Lodges Suites, Inc projected that it was the fifth consecutive unprofitable year. The company’s new president and CEO Joseph James set a goal in which the company HAD to achieve, that goal was to gain profit within two years. The company was formed in 1979 and has 250 properties in ten Midwestern states (200 Astor Lodge and 50 Astor Lodge & Suites). The net-loss of the company is $15.7 million so four senior vice presidents were bought in to present the effects of the last five years. Kelly Elizabeth who is very experienced in the marketing field was bought in to try and solve and help with a profitable year from 2004. The Problem With five consecutive years not making profit a marketing strategy needs to be put in place. The hotel industry has seen a $16.7 billion pre-tax profit in the 2004 with 4.4 million hotel room available in the country. The competition of 213 affiliated hotels with a brand company is going to be a challenge but achievable. From 2004, objectives are completed but still turning over unprofitable years with marketing plans put in place. Root of the problem The root of the problem I believe is not distinguishing what type of hotel/s the company is targeting to the audience as it has changed through the years between the pleasure/vacation traveller and the business traveller. As a frequent guest to hotels trying to mix the two is not going to work and even though objectives were met the daily average rate objective was...
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...on attracting the pleasure/vacation traveller segment. Most of this was done through newspapers, magazines and spot television. The remaining 72% continued to target the business traveller. Through looking at exhibit 7, it is evident that the 2004 fiscal plan introduces the use of internet in marketing/advertising for the first time for Astor Lodge & Suites, Inc. This is critical as it is to be noted that one in five of our customers today are using the internet to plan their trips and make reservations. The objective of 2004 was met; attracting the new segment of the vacation/pleasure traveller, increasing weekend occupancy rates overall, and therefore increasing overall occupancy in fiscal 2004. Room-nights sold = 1. (a) calculate room-nights sold, (b) multiply this figure by room dollar contribution (average daily rate minus the direct cost per room/suite from case Exhibit 5), to determine total incremental dollar contribution; and (c) subtract the incremental dollar expenditure for marketing (advertising) and sales. 4.2 Sales, marketing initiatives, expenditures and outcomes for fiscal 2005 The fiscal 2005 plan for Astor Lodge & Suites has three main objectives 1. Increase overall occupancy in both guest rooms and suites 2. Attract first-time guests 3....
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...The Problem In the case of Astor Lodges, the company has not been making a profit for five consecutive years and a marketing strategy needs to be put in place. The hotel industry saw $16.7 billion pre-tax profit in 2004 along with 4.4 million hotel room available in the country. The competition of 213 affiliated hotels with a brand company is going to be a challenge but attainable. From 2004, objectives are completed but still turning over unprofitable years with marketing plans put in place. SWOT analysis matrix Strengths Kelly Elizabeth and her plan: Each year the objective was to increase and attract more occupants which she did for the company. Internet communications is a big plus for the business traveler using the hotel. Location positioning with hotels located on major highways, office complexes, airports and surrounding large shopping centers it is fighting other competitive hotels. Weaknesses Changing targeted guests Frequent complaints from business guests as the hotel targeted the vacation traveler. Opportunities Make profit and need to focus on one type of guest I feel as this seems to be a problem. Special offers for guests Threats Challenge from the largest hotels in U.S which are now making their mark worldwide. With great reputations and affordable rooms Astor Lodges & Suites must match these companies if they want to survive and meet Joseph James goal. The “frontier strategy” has not yet to be rendered effective which could affect the company...
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...Bloodlines of Illuminati by: Fritz Springmeier, 1995 Introduction: I am pleased & honored to present this book to those in the world who love the truth. This is a book for lovers of the Truth. This is a book for those who are already familiar with my past writings. An Illuminati Grand Master once said that the world is a stage and we are all actors. Of course this was not an original thought, but it certainly is a way of describing the Illuminati view of how the world works. The people of the world are an audience to which the Illuminati entertain with propaganda. Just one of the thousands of recent examples of this type of acting done for the public was President Bill Clinton’s 1995 State of the Union address. The speech was designed to push all of the warm fuzzy buttons of his listening audience that he could. All the green lights for acceptance were systematically pushed by the President’s speech with the help of a controlled congressional audience. The truth on the other hand doesn’t always tickle the ear and warm the ego of its listeners. The light of truth in this book will be too bright for some people who will want to return to the safe comfort of their darkness. I am not a conspiracy theorist. I deal with real facts, not theory. Some of the people I write about, I have met. Some of the people I expose are alive and very dangerous. The darkness has never liked the light. Yet, many of the secrets of the Illuminati are locked up tightly simply because secrecy is a way...
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...An Interesting look into John Jacob Astor and the American Fur Trade Upon winning the Revolutionary War Americans were filled with a compulsion to manifest their destiny. They were Gods chosen people after all. What could possibly come in the way of them achieving what was their God given right, their destiny? The fur trade draws its roots from early exploration in America. The fur trade was an entirely simple concept that relied on pillaging mother nature's resources to turn the dollar. The fur trade set the mold for the modern day American corporations. It was the first industry in U.S. history to receive a federal subsidy; which is a form of government assistance to help out with financial needs and accommodations (sounds kinda of familiar to thecompanies of today eh?). Fur trading has been going on for centuries, dating back to Jacques Cartier (an explorer from France who would go on to claim what is currently Canada for France) who set voyage through the Canadian wilderness almost five hundred years ago. This industry is a cornerstone in the American business realm, and also in pioneering the early Pacific North West. The company that managed to get set up first in the new west was an upstart business that went by the name of the Pacific Northwest Company. They were an early titan among American big business. Their founder was John Jacob Astor. "John Jacob Astor, the son of a farmer, was born in Waldorf, Germany in 1763. When he was sixteen he moved to London...
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...1. How would you characterize the U.S. hotel industry in early 2005? In 2004, the hotel industry in the U.S. had $113.7 billion in revenue and $16.7 billion in pretax profit. As of the end of that year, the U.S. had approximately 4.4 million hotel rooms, two-thirds of which were affiliated with a brand (the remaining one-third were owned independently and not affiliated with a brand). The hotel industry in the U.S. is very fragmented; no one company or brand controls a majority of the hotel rooms. Overall, hotels compete on the basis of price, amenities, and service. Typically, full-service hotels will offer food and beverage outlets (like restaurants and lounges), meeting/banquet/convention facilities, a concierge, luggage service, and room service. Full-service hotels include luxury hotels (like Ritz-Carlton), upper upscale hotels (like Hilton), upscale hotels (like Radisson), and midscale with food and beverage hotels (like Holiday Inn). In 2004, full-service hotels accounted for approximately 1.6 million hotel rooms in the U.S. Limited-service hotels mostly focus on renting hotel rooms and do not offer amenities such as restaurants, lounges, and banquet rooms. Limited-service hotel brands include midscale without food and beverage hotels (like Fairfield Inn) and economy hotels (like Motel 6). In 2004, limited-service hotels accounted for approximately 1.4 million hotel rooms in the U.S. Since 2003, all hotel segments have shown improved performance...
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...BUS827 Astor Lodge and Suites, Inc Case1 Hints Dr David Gray Email: david.gray@mq.edu.au Astor Lodges Caase 1 1 Case Questions Problem Losing Money: Astor Lodge & Suites, Inc., a 250 property hotel chain, is about to post its fifth consecutive unprofitable fiscal year. Requirements: Prepare Presentation for new President and CEO, Joseph James, describing each VPs 1) his or her initiatives, expenditures, and outcomes for each of the past two fiscal years, and 2) planned initiatives and budgetary needs for fiscal 2006. 3) Show how their staffs prior and planned initiatives and expenditures contributed the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) - the corporate performance metric recently adopted by Mr. James and the Astor Lodge & Suites, Inc. Board of Directors. Astor Lodges Caase 1 2 Case Objectives This case has four teaching objectives: 1. To introduce students to the economics of the U.S. hotel industry. 2. To affirm the fundamental role that segmentation, targeting, and positioning plays in crafting an advertising and sales program. 3. To alert students to the growing senior management insistence on financial accountability when preparing marketing, advertising, and sales programs. • 4. To consider the objective-task approach to communication budgeting. 5. To apply contribution analysis in the evaluation of marketing decisions. Astor Lodges Caase 1 3 Case Questions Assessment (A2)- Case 1 – Due 7 April...
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...The Problem In the case of Astor Lodges, the company has not been making a profit for five consecutive years and a marketing strategy needs to be put in place. The hotel industry saw $16.7 billion pre-tax profit in 2004 along with 4.4 million hotel room available in the country. The competition of 213 affiliated hotels with a brand company is going to be a challenge but attainable. From 2004, objectives are completed but still turning over unprofitable years with marketing plans put in place. SWOT analysis matrix Strengths Kelly Elizabeth and her plan: Each year the objective was to increase and attract more occupants which she did for the company. Internet communications is a big plus for the business traveler using the hotel. Location positioning with hotels located on major highways, office complexes, airports and surrounding large shopping centers it is fighting other competitive hotels. Weaknesses Changing targeted guests Frequent complaints from business guests as the hotel targeted the vacation traveler. Opportunities Make profit and need to focus on one type of guest I feel as this seems to be a problem. Special offers for guests Threats Challenge from the largest hotels in U.S which are now making their mark worldwide. With great reputations and affordable rooms Astor Lodges & Suites must match these companies if they want to survive and meet Joseph James goal. The “frontier strategy” has not yet to be rendered effective which could affect the company...
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...Metropolitan Museum of Art Stephanie N. Robinson Professor Pigg HUM 112 December 12th, 2015 Metropolitan Museum of Art I haven’t had the pleasure of visiting the Metropolitan Museum of Art in person; but due to modern day science and technology taking virtual tours is now possible. I must say that it is on my to do list for when I do visit New York. From the pictures online I am amazed by the design of the building in the Metropolitan museum of art; the design is an art in itself. It is beautifully designed and decorated and thus is very attractive to the tourist even from the outside. As I continue to scroll through the pictures I was further amazed by the interior design of walls and the floor. The ground floor even though it may seem basic to some this is where you will see all of the beauty and richness the museum has to offer. Then you proceed to the first floor where the art pieces are marvelous and you know that they have been designed by some of the greatest artist in the world. The museum contains not only the America art pieces but the pieces were from different parts of the world and thus making Metropolitan museum of art a world tourist destination. The three art pieces that fascinated me the most was the Chinese garden court, arms and armor collections and Marble Patio which is from a Spanish Renaissance Castle. The Chinese garden court found in the museum is a complete replica of the Ming dynasty garden in Suzhou in China, is stunning...
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...high costs on clothing and sugar, profits of 300-400 percent, and even diluted the whiskey he sold them with water (51). He also used alcohol in negotiations with the Indians after Congress had banned alcohol on Indian territories. If this story teaches anything about the relationship between virtue and success, it’s that they do not always go hand in hand. Astor had little to no virtues, yet was able to become highly successful in the world of business. 2.) The environment of the company changed in the 1830’s with the belief that Cholera was spread through the trade. This had a negative effect on the trade. Also, new silk hats that didn’t require fur in their production were also driving down the demand of furs. During this time Congress also passed a law that banned alcohol on the Indian territories, which many people in the industry used to barter with the natives. Historical forces that are implicated in these changes include inequality, globalization, chance and nation state. 3.) Impacts on society were tremendous. In the dimension of the economic environment, profits soared and a monopoly was created as Astor was able to purchase furs at a fraction of the final selling price and since they were so light, he could transport them for cheap. The technological environment was affected through the invention of the steamboat that could travel up river faster to catch and transport beaver....
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...Biography[edit] Early life[edit] John Jacob Astor was born in Walldorf,[5][6] near Heidelberg in the old Palatinate which became part of the Duchy of Baden in 1803 (now in Rhein-Neckar-Kreis in the state of Baden-Württemberg, Germany). He was the youngest son of butcher Johann Jacob Astor (July 7, 1724 – April 18, 1816) and Maria Magdalena Vorfelder (1730–1836).[7] His three elder brothers were George (born Georg) (April 28, 1752 – December 1813), Henry (born Heinrich) (1754–1833), and Melchior (1759–?). Astor's career began in Germany, where he worked as an assistant in his father's business, as a dairy salesman. In 1779, at age 16, he moved to London, where he anglicized his name and learned English while working for his eldest brother George, manufacturing musical instruments.[8] He arrived in the United States in March 1784, just after the end of the Revolutionary War. His second brother Henry preceded him to New York, establishing a butcher shop with which Astor was initially involved. He traded furs with Native Americans and in the late 1780s started a fur goods shop in New York City. He also became the New York agent of his brother's musical instrument business.[9] Henry was also a horse racing enthusiast, and purchased a thoroughbred named Messenger, who had been brought from England to America in 1788. The horse became the founding sire of all Standardbred horses in the United States today. On September 19, 1785, Astor married Sarah Todd (1761–1834), the daughter of...
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...1). Astor’s motive and managerial ability are without equal. Astor may have ended his life rich, but he started out poor and hungry as a child of a butcher in Waldorf Germany. With nothing but motivation and determination he worked his way to the Americas and started working at a bakery, saving what he could to work the fur circuits. It was through his motivation for wealth that he started his fur empire, but his managerial skills that let him maintain it. Many times Astor was thrown a curve ball and when it came at him he managed to hit a homerun. This is seen when Astor had to sell Astoria, his fur empire on the pacific coast, for a fraction of its worth to the British. It was through Astor’s managerial ability that he got congress to forbid foreign fur trading in the US. After doing this he bought out their interests and his monopoly was born. As for Astor’s ethics, they were towards money and not towards fair treatment. The US congress passed a law that the Indian’s were not to bet taken advantage of, Astor did not adhere to these rules but instead traded low price trinkets for high value furs making a 4,900 percent profit to which 99.9 percent of it went to himself. Another example of Astor’s lack of ethics is when he let the Indians use credit so that they would be in debt to him and they would not be able buy from any other sellers. Astor’s career shows that there is no relation between virtue and success, his lesson would have to be (don’t let virtue get in the way...
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...Chapter 1 and 2 3. Economic Impacts: The fur trade provided a great amount of money and richness to Astor and its company. It also created work agreements. Thus, it made a huge contribution to economic improvement in North America and supported employment and income for many people. Technological Impacts: Astor had new technological innovations to travel Missouri. First, he introduced the steamboat, Yellowstone, then keelboat Cultural Impacts: When Indians contacted Europeans, Indians got familiar with lots of new artifacts. Thus, Indian traders began to seek profits and gain money to have their own properties. Governmental Impacts: Astor bribed and suborned some politicians including a president. That shows that American political system was not well based and taking advantage over government was easy. Natural Impacts: The fur traders destroyed forests to trade posts and find fuel. They also, killed lots of animals. Legal Impacts: Because the fur traders bribed politicians they had the upper hand against government, competitors and people. Therefore, governments had some new laws and regulations. Internal Impacts: Astor dominated American Fur Company and considered nothing but himself and his company's revenue. 4. The most important stakeholders were Astor as an owner, employees, customers, suppliers and government. They were not treated responsibly at all. For example, Indian trappers were cheated, robbed and even killed. Also, the fur...
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...American Fur Company John Jacob Astor, founder of the American Fur Company, was the creator of the first trust or monopoly, and he was the first multi-millionaire in the United States. His fortune came primarily from the fur trade. Born on July 17, 1763 in Waldorf, Germany, his cleverness, guile, and business suave shaped the early American frontier. Arriving in New York in 1783, he soon began to buy furs from trappers and Indians, establishing a fur goods shop in New York. In 1794, the Jay Treaty between Great Britain and the United States opened new markets in Canada and the Great Lakes region. Astor affected three major sections of the nation: Business, Society, and Government. With regard to businesses, he mastered the fur trade industry to near perfection with his use of predatory pricing, market manipulation, and trade routes to increase his supply and expansion into new markets. Within society, Americans from the past to present can credit John Jacob Astor and the American Fur Company to many benefits and consequences felt within society. Those who understand the full impact of American Fur Company will agree that Astor’s greed and blatant exploitation of people and resources came at such a high cost to some parts of society that it may have outweighed any good. Lastly, government, which was supposed to protect society, began to realize that they would have to intervene with the private sector in order to ensure human rights. It was through Astor’s actions...
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