...elevator music dances about the cramped 8 by 8 elevator as he rises reaching the 55th floor, ding, the doors swing open and he struts to his office. The day still seems quite ordinary to the 25 year old as he glances out at the breath taking view of the shimmering panes of glass laced upon the towering buildings strewn about the city. Little does he know that down below, arriving at his building, is five vans full of five organized teams with a carefully plotted attack. Five men casually walk into the building and ask for their appointments made with the vice president. One man drops his quietly sets his suitcase down beside the security desk. Up they go into VP Wilson’s office. “Are you ready?” Wilson inquires. The men shake their heads and he sends them to the roof. They tear off their suits revealing their advanced tactical gear and begin to open their suitcases and assemble firearms waiting for the signal. Meanwhile, the teams below lock and load also waiting for the signal. The driver of the fifth van nods and honks the horn. “Boom!” A deep thunder echoes throughout the city as the bomb roars. The whole bottom floor swarming with security personnel is...
Words: 335 - Pages: 2
...Angela Maguire Prof. David Gilhousen PHSC 210- Elements of Earth Science July 24, 2015 Radiocarbon Dating: Faith of Fact Introduction Archeologist and other scientists have used many different dating methods to establish the age of the earth and things on the earth. One of the dating methods that has been used is radiocarbon dating, also known as Carbon-14 dating. Radiocarbon dating is a prejudiced method that can be used to prove the desired outcome. Like many other methods, radiocarbon dating is inconsistent and constantly changing. The root of a scientist’s belief must come from a more stable foundation. Although, Old-earth and young-earth scientists agree on carbon-14 half-life, the scientists differ in areas such as finding C-14 in rocks and diamonds. To begin, we must first describe the process of radiocarbon dating. The half-life of Carbon-14 has been measured at 5,730 years. Therefore, the assumption has been made that radiocarbon dating is only valid to be used on objects older than 100,000 years. Morris (2011,63) describes the process in this way, “Carbon-14 is formed when nitrogen -14 interacts with a cosmic ray-produced neutron in the upper atmosphere”. This new isotope is only a small part of the total carbon. Within the isotope there is a ratio of Carbon-12, a stable carbon, to Carbon-14, a non-stable carbon. The isotope is incorporated into carbon dioxide, which is then breathed in by all living organisms. When living organisms are alive, the radiocarbon...
Words: 1286 - Pages: 6
...“J. Willard Marriott began his dream in 1927 with a nine stool root beer stand. His goal was to build a successful business and a brand that is guided by strong values.” Marriott International, Inc. (1996 – 2014). Now almost 90 years later, Marriott is a leading hotel chain operating in 70 countries, with over 4000 properties. Strategic planning, community involvement, responsible business principles, and environmental awareness are the characteristics that have made Marriott successful. Analyzing our personal and workplace values will help explain how these coincide with our actions and behaviors. This will also help to analyze the alignment between our values in comparison to the values and behaviors of Marriott. Last this process will help show if the values and behaviors of Marriott are expressed in the plans and actions of the organization. The values learned from my parents are solely responsible for my current personal values; but not completely. Values are absorbed by the core consciousness of a person, and are modified by the physical environment these influences include school, friends, society’s beliefs, but the core remains the same spiritual self. I have been provided with a Christian influence that I thank god for daily. Through sports I learned team work as well as individual responsibility, while my brother taught me the fun of competition. Over the last three decades I have not observed a difference between my personal and workplace values. I have listed...
Words: 1001 - Pages: 5
...Marriott's EPS and of increasing family and management control from 20% to 29% of outstanding shares. However, it represented a move that was almost entirely financial—one that would run the debt well above the levels advocated before the Board of Directors only two years earlier. The repurchase would also necessitate renegotiation of restrictive covenants in existing loan agreements. Lastly, the huge size of the proposed program would require a tender price of $23 1/2, a hefty premium of $4 over the current market price. All of this seemed somewhat out of character for a corporation known for caution and stability. Background Marriott Corporation was founded as a nine-seat A&W Root Beer Stand in Washington, D.C., in 1927 by J. Willard Marriott. Mr. Marriott had a gift for anticipating, or helping to create, trends in public eating habits. Shortly after the first stand opened, a second was built, and soon a chain of Hot Shoppes was underway. In 1934,...
Words: 4542 - Pages: 19
...Feldt v. Marriott Corporation 322 A.2d 913 (D.C. 1974) According to the case study titled “Feldt v. Marriott Corporation,” the appellant entered the appellee’s restaurant barefoot but was not asked to leave until after purchasing and receiving her food. The appellee asked the appellant to leave several times but she refused to leave the facility until she had finished her meal. After several refusals and one inappropriate comment made by the appellant, the appellee asked a police officer to escort the troubled woman off the premises. While guiding her towards the exit, the appellant struck the police officer, therefore, causing more ruckus. Upon being arrested and spending one night in the Women’s Detention Center, the appellant was released on her personal recognizance and ordered to court the following day, where she was free to leave after being dropped of any charges. The study provides a great expectation of what happens on a regular basis in the hospitality industry. Because customers are always “guests” and help make the industry thrive, they often feel as though they can do whatever they would like—simply because they paid for a facility’s services. Although we are taught by our employers, fellow employees, and professors that “the customer is always right,” that is not always the case. The appellate in “Feldt v. Marriott Corporation” may have been freed from any charges but she was certainly not innocent, nor was the appellee. While the appellant proved...
Words: 651 - Pages: 3
...off its profitable hotel management business leaving its real estate assets as part of the successor corporation. At first glance the deal did not seem very different from many other corporate restructurings. However, because much of Marriott's existing debt was to become an obligation of the real estate assets only, the default risk on that debt would increase significantly as a result of the spinoff. The spinoff announcement was greeted with an unusually large amount of resistance and controversy that had wide-ranging implications for the business, fiduciary, and ethical obligations of management, directors, shareholders, debtholders, and financial advisers. The Marriott Corporation The Marriott Corporation was founded in 1927 by J. Willard Marriott as an A&W root beer franchise. The company soon expanded into the restaurant, airline catering, food service, and hotel businesses. J.W. "Bill" Marriott Jr., who became president of the company in 1964 at the age of32, was the chairman and CEO in 1992. Despite having gone public in 1953, Marriott and his family still owned 25.8% of the company's equity. Marriott's use of innovative financing techniques permitted its rapid growth in the 1970s. Marriott's strategy was to build hotels, and then sell them offto investors, maintaining control through long-term management contracts. The management contracts were typically for 20 years, but could be extended by Marriott to as many as 50 years. These typically gave Marriott 2-3% of the...
Words: 2177 - Pages: 9
...THE MARRIOTT MANAGEMENT PHILOSOPHY A living tradition of values and beliefs "A businessman once said, 'A business succeeds not because it is long established or because it is big, but because there are men and women in it who live it, sleep it, dream it, and build great future plans for it." "We have realized for a long time that you can't have a service business with a lot of employees without having people who know how to manage. So we have been teaching our management how to manage, as well as our employees how to take care of their jobs. Good management and trained personnel are the most important factors in our business." "Good personnel will work for a competent manager. Go to every length to find, hire, and train good employees and treat them like your family. This is the crux of your whole operation." "'When we had six or seven Hot Shoppes, I'd drive to every one of them every day, sometimes twice a day. Every time I visited, I'd find something was wrong: the root beer was flat or wasn't cold; the lights hadn't been turned on at night; or the barbeque machine wasn't clean. There were just a lot of things our management didn't do or didn't see. So I decided then that if we were going to have a lot of places, we had to hire supervisors to do what I was doing - going from one store to the next, training managers." "Some of my remarks may appear to be too detailed, but it's the little things that make the big things possible. The close attention to the fine details of any...
Words: 6228 - Pages: 25
...J.Willard Marriott, who had moved away with his business partner Hugh Colton and his wife Alice from Utah to Washington, D.C., started the brand new startup company in 1927, when he operated a curbside food stands selling A&W Root Beer in the Columbia Heights neighborhood of Washington at 14th Street and Park Road NW. He would later rename the food stand The Hot Shoppe, adding Mexican food items to the menu.[2][3] Marriott's business expanded to Baltimore, Maryland, in 1934, shortly after which the company started its food services division. During Second World War, the business expanded to include the management of food services in defense plants and government buildings, such as the U.S. Treasury. Then in the 1950s, Hot Shoppes, Inc. started providing food services to public schools and to Children's Hospital in 1955, a contract which they held for 35 years. Marriott's restaurant chain grew, and the company went public in 1953. In 1957, he expanded his business to hotels, opening the first Marriott hotel—actually a motel, the Twin Bridges Motor Hotel—in Arlington County, Virginia. The company became Marriott, Inc., in 1967. Two large chains were added to the group, the Big Boy family restaurants in 1967 and Roy Rogers Family Restaurants in 1968. Over the years, Marriott's company interests expanded. Continuing with food services, Marriott eventually invented airline in-flight food service. This segment of their enterprise continues to be a large part of their business, providing...
Words: 500 - Pages: 2
...Marriott Corporation Marriott International is the current leader in the hotel/lodging industry. Founded in 1927, by J Willard Marriott, and his wife Alice, it had its beginning as the first A&W Root Beer franchise. By 1957, Marriott made a historic move into the hotel industry, opening their first hotel in Arlington, Virginia, under the management of their son, Bill Marriott. (Marriott International, 2015). Between 1957 and 1985, the Marriott Corporation had expanded into Mexico, began providing lodging for the cruise industry, and debuting the first Courtyard hotel. Between 1986 and 2011, they acquired several more hotels, including Fairfield Inn, Residence Inn, Renaissance, Executive Stay, and 49% of the Ritz-Carlton Hotel Company. By 2012, Marriott had added an additional five hotels after acquiring Gaylord Hotels Brand, bringing the current number of properties owned by the corporation to 4,300, in 81 countries (Marriott International, 2015). Most of its current properties are franchised, with the Marriott family owning about 30% of the corporation (Yahoo Business). Marriott International, Inc. is one of the leaders in lodging, and is currently headquartered in Bethesda, Maryland. They have made their mark worldwide, as operator, franchisor, and licensor of hotels and timeshare properties. Under its current model, the hotels are typically franchised, rather than owned. “At year-end reporting, in 2014, of the total number of hotels available worldwide...
Words: 1405 - Pages: 6
...The purpose of this memo is present the analysis and answer the questions revolving around the Project Chariot, the Spin-off that allowed Marriott to separate its business activities in its world famous hotel management business and a separate real estate business in 1994. This project involves the splitting up the company into two separate entities, Marriott International Incorporated (MI) and Host Marriott Corporation (HM) in order to minimize the debt burden and improve the financial health of the company after severe effects from real estate market crash and the slowdown in the business in early nineties. The description of Marriott Corporation, key issues faced by the corporation, details about the proposed Project Chariot and the alternatives and consequences of implementing Project Chariot is reported in the following sections. 1) The first analysis is the impact assessment for the parties and stakeholders of Marriott: According to the reorganization plan MI would operate hotels and include Marriott’s service businesses. It would also own Marriott’s trademarks, trade names, reservation and franchise systems. HM would own Marriott’s hotel properties and undeveloped real estate. It would also operate food, beverage, and merchandise concession in airports and toll-road rest areas. Impact Assessment for: a) Shareholders: the project would give each shareholder one share of the new Marriott International Inc. (MI) for each share of Marriott, so since no cash would be...
Words: 1098 - Pages: 5
...CUSTOMER IS THE KING 1.0 Introduction According to Ratan Tata, Chairman of Tata Group, we should be treating the customer in the same way that we would want to be treated as customers. As per his say, In today's world, what customers are looking for, I believe, are products that suit their purpose best in terms of price, features, quality and appearance. They expect to be treated as kings and to receive sales and service support for products like vehicles and air-conditioners. They expect to receive timely and competent attention, along with a definite solution to their problems from our service people, dealers or channel partners. Businesses establish reputations for themselves based upon how well they treat their customers over time. Getting off on the wrong track can seriously harm a business, while doing it right can produce amazing amounts of “goodwill”, admiration and long term success In Mauritius the actual motto is the “customer is the king”. In the country the company is still using this old adage. Nowadays a new management concept has emerged “employee first”. There is only a few company in Mauritius which is now implementing this new concept in there organisation. Soft and hard HRM There are many different approaches a business can take to HRM. Guest(1999) identified two perspectives of HRM: Soft and Hard HRM Soft HRM: Employees are being treated as valuable asset of the organization. Hard HRM: Employees are being considered as variable cost of the strategic...
Words: 4103 - Pages: 17
...Decision in Paradise Part Three Russ Young MGT/350 July 27, 2011 University of Phoenix - Schaumburg Campus Ronald Korrub Abstract Far in the South Pacific Ocean there is an Island called Kava. This Island is not very big but the government of that island wanted to grow their tourist population, so they have called on Marriott Hotel Company to build a resort. Marriott CEO Bill Marriott has called me (Nik), Chris, and Alex in to his office to let us know about our latest project. When we reached Kava’s airport we meet with the Governor and he greeted us along with his staff. The governor appointed us with one of his assistants named John to show us around the Island so we can learn its history and also if we had any questions. Next my team and I looked into the economy of the Island and we found out that Kava is a poor country with despicable living arrangements in some parts of the island because over 50% of the population is under 15 years of age. In conclusion upon getting back home and Bill Marriott receiving our report along with my recommendation we are now finished building our five star resort on the Island of Kava. Decision in Paradise Part Two Far in the South Pacific Ocean there is an Island called Kava. This Island is not very big but the government of that island wanted to grow their tourist population, so they have called on Marriott Hotel Company to build a resort. Marriott CEO Bill Marriott has called me (Nik), Chris, and Alex in to his office to let...
Words: 1428 - Pages: 6
...Station), bus-stop and taxi stands. The smoke free policy hotel is a 30 stories high building with 372 rooms, 21 suites, 13 meeting rooms which have a total meeting area of 19,773 sq ft and a concierge level. The whole hotel is fitted with high speed wireless internet access for the hotel guests who they can access it anywhere within the hotel building. The lobby of the hotel is featured with a big open concept for their guests to rest and relax or to dine. It has 9 different types of guest rooms with different set of price for their guest to select. The hotel does have a swimming pool, fitness and spa centre for the guest to use. 2. Infrastructural a. Organization Marriott International Inc, was established back in the 1927 by J. Willard and Alice Marriott with its headquartered in Bethesda, Mayland, USA. It was first started off as a drive-in motor hotel and eventually moving into hotel chain. With a strong leadership of Mr. J.W Marriott, the company grew to a major leader in the hospitality industry and his son Mr. Bill Marriott as his successor has been leading his father's company for more than 50yrs, in December 2011 Mr. Bill Marriott step down as CEO and only assuming as an executive chairman while Mr. Arne Sorenson has been appointed to be the next CEO for Marriott International Inc that own more than 4,000 properties with 3,900 hotels in over 72 countries. As Singapore Marriott Hotel being one of their own, it has 5 major...
Words: 411 - Pages: 2
...GCSE Motivation Business Project GCSE Motivation Business Project 2012 Jamie Sissons 10R 2012 Jamie Sissons 10R I have chosen to use the Marriot hotel company in my GCSE Business Studies Project, as I went on a trip to one of their hotels and we learnt a lot about how they look after staff and how they believe that “if you look after your staff they will look after your customers.” I have chosen to use the Marriot hotel company in my GCSE Business Studies Project, as I went on a trip to one of their hotels and we learnt a lot about how they look after staff and how they believe that “if you look after your staff they will look after your customers.” Introduction Introduction Marriott is the 71st best place to work in the world this is mainly because of the massive discount and free facility use given to staff. For example staff are given a campus card witch they can use in all Marriot hotels anywhere in the world witch will give them 25% off of food and beverages, 10% off of accommodation and free use of the gym and luxury lounges. Staff are also entitle to 50% off of the five most local hotels to where they live and work. Marriott is the 71st best place to work in the world this is mainly because of the massive discount and free facility use given to staff. For example staff are given a campus card witch they can use in all Marriot hotels anywhere in the world witch will give them 25% off of food and beverages, 10% off of accommodation and free use of the gym...
Words: 2456 - Pages: 10
...HEC Lausanne Corporate Finance Case 3: Marriott Corporation (A) Spring Semester 1. Project Chariot is proposed by MC’s CFO, Stephen Bollenbach, to face the troubles that Marriott Corporation (MC) is currently facing. A glimpse of history is useful to understand the current situation. MC’s main business is to develop hotel properties, to sell them to outside investors and to conclude long-term contracts. In the 70’s MC began to finance its expansion by major borrowings under the impulsion of the new president J.W Marriott, Jr. that abandoned the conservative financing policy of its predecessor (and father). In 1981 the Economy Recovery Tax Act (ERTA) gave enormous incentives for companies to invest (tax write-offs were given for each $ invested in real estate). This pushed MC to develop even more its activities for instance in lodging services or in full service compact hotel. Even though ERTA was ended in 1986 MC continued its massive investments, which lead to a significant accumulation of debt. This was not an issue since the revenue growth was able to sustain the also growing interest payments. Until the drop of income in 1989, which froze capital expenditures. Unfortunately for MC, it was followed by the real estate collapse in 1990 that left MC with massive interest payments for properties that no one wanted to buy anymore given the current economic environment. This situation results in an extremely limited ability for MC to raise funds in the capital market...
Words: 2709 - Pages: 11
