BUSINESS
Sunday, March 18, 2012 • A13
MIAMI VALLEY SUNDAY NEWS • WWW.TROYDAILYNEWS.COM
Forty years of leading hotel giant Q: Today, the company ny’s other businesses has $2.2 billion in debt. have been sold. Does that ever worry you? Marriott visits more A: No, because we get than 250 of the company’s over $1 billion a year in hotels annually, inspectcash. If the economy ing rooms, kitchens and tanked, (the) cash flow is banquet halls. He also pretty stable. Most of it’s takes note of how employcoming from manageees interact. MARRIOTT ment fees and that comes There is often evioff the top. dence during these visits Q: You are a very active memof last-minute touch ups to impress the boss. That is why ber of The Church of Jesus Christ Marriott always carries some of Latter-day Saints. How do you balance your religious beliefs with paint remover. “They know I’m coming,” he some of the desires of your says. “They paint everything they guests? A: I’ve always been concerned can get their hands on.” Q: Your father didn’t want to about (pornographic) movies in expand the hotel business. But rooms. In the next three or four you convinced him to build other years, we won’t have any more of hotels and let you run the opera- those. That’s something we’ve had a real problem with because the tion. How did you do that? A: We started out with one Church is very, very opposed to hotel and it wasn’t doing well, so I pornography, as it should be, and asked my dad if he’d let me take we are for families. Q: What led to that decision? over the supervision. He liked A: It was the right thing to do. hotels. He did not like debt and it was very hard to convince him The other side of it is if they want that if we wanted to have a hotel that stuff, they can get on the chain, we couldn’t do it without computer. So, the demand for them has gone way down. It was a somebody else’s money. Q: Do you ever regret the deci- good time to exit. Q: What do you look for when sion to take the company public? A: No. I’ve thought about that a touring a Marriott hotel? A: Happy employees. I look to lot. We would not have been able to grow the company if we had make sure that the hotel’s properkept it private. The family just ly maintained, that it’s clean. couldn’t have tolerated the Every now and then I’ll taste the food. amount of debt that would take.
Bill Marriott reflects on career of innovations BETHESDA, Md. (AP) — Bill Marriott has revolutionized the hotel business over the past four decades. As CEO of the company that bears his family’s name, Marriott led the industry in opening hotels next door to highway exits and suburban office parks. He was also a pioneer in catering to niche markets. In 1983, he launched Courtyard, a chain for cost-conscious business travelers. Today, Marriott has 18 brands, including Fairfield Inn for budget travelers and RitzCarlton for the luxury set. But perhaps Marriott’s biggest innovation was his decision to transform the company into one that manages but does not own its properties. That left the company a steady stream of revenue but little exposure to fluctuating real estate values and vacancy rates. Marriott turns 80 on March 25 and plans to step down as CEO at the end of the month. But this is no ordinary retirement. He’ll remain chairman of Marriott’s board of directors and will have considerable power over the company through his 10 percent equity stake, which is worth $1.2 billion. Marriott will spend more time on vacation, yet he plans to work 45 to 50 hours a week when home
AP PHOTOS/MARRIOTT INTERNATIONAL INC.
This undated photo provided by Marriott International Inc., shows the swimming pool at the Twin Bridges Marriott, in Arlington Va. In 1957, John Willard Marriott and Alice Sheets Marriott opened their first hotel — the Twin Bridges. But it was their son Bill who transformed the company into a global hotel giant. time, the company expanded. It got into airline catering, the cruise ship business and took over the Big Boy and Roy Rogers restaurant chains. In 1957, the couple opened their first hotel, the Twin Bridges Motor Hotel in Arlington, Va. But it was their son Bill who transformed the company into a global hotel giant. Today there are 3,718 Marriott hotels in 73 countries. The compa-
in Maryland, where the company is based. “My wife said she married me for better or worse, but not for lunch,” he says. Marriott International traces its roots to 1927, when John Willard Marriott and Alice Sheets Marriott opened a nine-stool root beer stand in Washington D.C. It grew into a popular restaurant chain called Hot Shoppes. Over
LOCAL BUSINESS LEDGER
Bar association to gather in Troy
meeting and recognition, an optional 2.5-hour continuing legal education (CLE) seminar will be offered from 9-11:30 a.m. COLUMBUS — The presi(registration and continental dent of the Ohio State Bar breakfast begins at 8:30 a.m.). Association will visit Troy on Advance seminar/lunch registraApril 4 to speak to area attortion is $95 for OSBA members neys about current issues facing and $115 for non-members; semthe legal profession and to honor inar-only registration is $70 for senior attorneys. members and $85 for non-memDavid C. Greer of Dayton, bers; and lunch only registration Harry P. Rife of Kettering and is $25 for members and $30 for Donald Weckstein of Dayton will non-members. After March 28, be honored for their 50 years of $25 will be added to the total service to the profession. Francis registration fee. S. McDaniel of Dayton will be honored for his 65 years of service and Sasha Alexa VanDeGrift United Way loses of Vandalia will be presented with the Ohio State Bar board members Foundation Community Service TIPP CITY — The Tipp City Award for Attorneys 40 and Area United Way recently said Under. goodbye to board members Carl Seubert Marx, 2011Gordon Honeyman, Rick Mains 2012 OSBA president, will Jr. and Bill Moeller. address the annual luncheon Deborah Carr, executive meeting of OSBA District 2 at director of the United Way statthe Troy Country Club, 1830 ed, “We have been very blessed Peters Road. OSBA District 2 includes includes 1,501 members to have such an exuberant group of people serving on the who practice in Darke, Miami, Montgomery, Preble and Shelby United Way Board of Directors. All board of directors are voluncounties. teers, and give freely their Miami County Bar Association President J. Andrew expertise and talent for the purpose of helping others from our Wannemacher will deliver welcoming remarks, and Thomas L. community. The Tipp City Area Gulliozet, District 2 representa- United Way has been very privileged to have their expertise tive on the OSBA Board of Governors, will preside over the and support.” Moeller served on the board meeting, which will include elecfor six years, serving as presitions of three members to the OSBA Council of Delegates and dent in 2009, first vice president in 2008, and second vice presione member to the Ohio State dent in 2007. Bar Association Board of Mains served on the board Governors. Prior to the noon lucheon for three years, serving as firs
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DAYTON — A Troy resident and physician with Good Samaritan Hospital of Dayton has recently been selected by Good Samaritan as a recipient of its annual “Physicians Making A Difference” award. Diane Anderson, D.O., was one of 10 individuals recognized for her daily commitment to delivering outstanding patient care. Nominations were submitted by peers, staff, patients and community members and were based on the qualities of trust, communication, appreciation, compassion, excellence, respect and responsiveness. In acknowledgement of her contribution, the hospital has made a $250 donation to Dr. Anderson’s charity of choice, the Breast Cancer Support Group at the
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Name Last Chg TudouH n 37.71 +22.32 Cogo Grp 3.10 +1.24 PacCapBcp 45.40 +16.71 BBC pf II 31.00 +11.35 HeliosM rs 4.15 +1.52 NuPathe 4.84 +1.77 Radvisn 11.70 +4.05 MEMSIC 5.20 +1.77 CarverB rs 8.06 +2.66 Towerstm 3.97 +1.30
Physician recognized for patient care
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1.76 31.59 +.41 +1.3 +4.5 .04 9.80 +1.75 +21.7 +76.3 ... 21.56 -1.78 -7.6 -39.3 .04 36.69 +2.49 +7.3 +39.5 2.04 70.16 +1.16 +1.7 +.3 .60 43.19 +.95 +2.2 +15.2 ... 37.92 +1.10 +3.0 +15.0 .32 14.33 +.57 +4.1 +12.7 1.44 117.17 +.64 +0.5 +18.0 .20 12.51 -.07 -0.6 +16.3 .68 20.20 +1.16 +6.1 +12.8 1.16 125.97 -.08 -0.1 +1.8 .48 24.49 +.43 +1.8 -4.9 .81 44.09 +.30 +0.7 +16.2 1.02 83.00 +1.40 +1.7 +12.5 1.44 57.91 +2.47 +4.5 +24.0 .84 27.73 +.66 +2.4 +14.4 1.20 44.57 +3.54 +8.6 +34.0 2.96 72.92 +1.15 +1.6 -.9 .46 24.37 +.05 +0.2 +.6
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Galbreath earns website certification
Samaritan Breast Center, located at Good Samaritan North Health Center. The funds are administered by the Good ANDERSON Samaritan Hospital Foundation. “We are proud to have outstanding physicians at Good Samaritan Hospital who understand the needs of the whole person, while working with them as patients to satisfy their medical needs,” said Mark Shaker, president and CEO of Good Samaritan Hospital. “These awards represent extraordinary people who go above and beyond with their patients every day. We are thrilled to be able to recognize their compassion and dedication to our community.” Anderson is co-medical director of the Samaritan Breast Center at Good Samaritan Hospital. She holds degrees from Liberty University in Lynchburg, Va., and the West Virginia School of Osteopathic Medicine. Anderson earned her Ohio Osteopathic License in 1991 and was licensed by the National Board of Osteopathic Medical Examiners in 1991. She also is certified by the American Board of Radiology. She can be reached at Medical Radiologists Inc., 2222 Philadelphia Drive, or by calling (937) 276-7623.
vice president in 2010 and second vice president in 2011. Honeyman served on the board for five years serving on committees and other capacities. “I would like to thank Gordon, Rick Jr., and Bill for their many years of dedicated service to our community,” said Scott Vagedes, president of the Tipp City Area United Way. “They have helped to lay a strong foundation for the Tipp City Area United Way to continue to build upon. It has been a privilege to work along with these three board members in helping our community.”
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2.80 97.66 +.82 +0.8 -2.7 1.00 31.24 +.37 +1.2 +4.3 .80 32.60 +.61 +1.9 +25.6 .80 36.24 -1.42 -3.8 +3.1 2.06 64.47 +1.32 +2.1 -2.8 .88 21.94 +.46 +2.1 +1.4 .49 66.52 +1.61 +2.5 +19.1 2.10 67.25 +.32 +0.5 +.8 .65 19.60 -.10 -0.5 -1.3 .04 6.41 +.61 +10.5 +49.1 2.64 140.30 +3.34 +2.4 +11.8 .33 82.55 +2.07 +2.6 +159.8 ... 2.89 +.11 +4.0 +23.5 .22 15.72 +.88 +5.9 +20.9 1.44 62.98 -.66 -1.0 +12.5 .78 31.65 +1.93 +6.5 +17.0 2.00 39.57 +.47 +1.2 -1.4 1.59 60.84 +.76 +1.3 +1.8 .88 33.89 +2.23 +7.0 +23.0 .08 5.04 +.15 +3.1 -6.0
Stock Footnotes: g = Dividends and earnings in Canadian dollars. h = Does not meet continued-listing standards. lf = Late filing with SEC. n = New in past 52 weeks. pf = Preferred. rs = Stock has undergone a reverse stock split of at least 50 percent within the past year. rt = Right to buy security at a specified price. s = Stock has split by at least 20 percent within the last year. un = Units. vj = In bankruptcy or receivership. wd = When distributed. wi = When issued. wt = Warrants. Mutual Fund Footnotes: b = Fee covering market costs is paid from fund assets. d = Deferred sales charge, or redemption fee. f = front load (sales charges). m = Multiple fees are charged. NA = not available. p = previous day’s net asset value. s = fund split shares during the week. x = fund paid a distribution during the week.Gainers and Losers must be worth at least $2 to be listed in tables at left. Most Actives must be worth at least $1. Volume in hundreds of shares. Source: The Associated Press. Sales figures are unofficial.
52-Week High Low 13,289.08 5,627.85 467.64 8,718.25 2,498.89 3,060.82 1,405.88 14,792.23 868.57 4,082.35
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+2.40 +3.67 -.30 +2.08 +.05 +2.24 +2.43 +2.18 +1.61 +1.98
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TROY — Galbreath Realtors has earned the 2011 Website Quality Certification (WQC), presented by Leading Real Estate Companies of the World to member companies that have demonstrated excellence in website design, functionality and execution. Every aspect of the site, www.Galbreath Realtors.com, was reviewed to ensure exacting standards were met in six key areas, ranging from design and content to human interactivity to search engine optimization. The WQC was introduced in 2009 to recognize and encourage superior websites among Leading Real Estate Companies of the World’s 550 member firms. “With so many people going online to obtain information on homes, communities and everything relating to home buying and selling, it is vital for a real estate firm to have a current, easy-to-use and relevant website,” said Pam O’Connor, president/CEO of Leading Real Estate Companies of the World. “By earning the Website Quality Certification, Galbreath Realtors has demonstrated that it offers fundamental online resources to home buyers and sellers, which are further supported by the expertise only a dedicated real estate professional can provide.” For more information about Galbreath Realtors, visit www.GalbreathRealtors.com.
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MUTUAL FUNDS
Total Assets Name Obj ($Mlns) PIMCO TotRetIs CI 149,075 Vanguard TotStIdx LB 68,078 Vanguard InstIdxI LB 65,810 Fidelity Contra LG 59,470 American Funds GrthAmA m LG 57,936 American Funds CapIncBuA x IH 56,945 Vanguard 500Adml LB 56,336 American Funds IncAmerA x MA 54,945 Vanguard TotStIAdm LB 54,525 American Funds CpWldGrIA x WS 47,952 American Funds InvCoAmA m LB 45,635 Dodge & Cox IntlStk FV 40,102 American Funds WAMutInvA m LV 40,038 Dodge & Cox Stock LV 39,840 Fidelity Magellan LG 13,849 Putnam GrowIncA m LV 4,408 Putnam MultiCapGrA m LG 3,094 Janus RsrchT LG 1,419 Janus WorldwideT d WS 877 Fidelity Advisor HiIncAdvT m HY 547
CURRENCIES
NAV 11.05 35.24 129.06 76.78 32.84 51.27 129.90 17.49 35.26 35.76 30.01 33.42 30.65 115.80 73.14 14.47 56.51 32.40 46.57 9.95
Total Return/Rank 4-wk 12-mo 5-year -0.1 +5.4/D +8.2/A +3.1 +13.2/B +2.9/B +3.6 +14.1/A +2.5/B +4.1 +14.7/B +5.5/B +2.5 +9.3/D +2.3/D +1.9 +9.6/A +2.0/C +3.6 +14.1/A +2.5/B +2.0 +10.2/A +3.0/C +3.1 +13.3/B +3.0/A +2.8 +6.2/C +1.6/B +3.0 +10.4/D +1.5/C +3.0 +0.8/D -1.1/A +2.9 +15.2/A +1.9/B +2.8 +8.8/C -1.5/E +4.2 +3.6/E -0.3/E +3.6 +8.4/D -1.2/D +3.1 +12.0/D +2.7/D +3.0 +12.4/C +5.0/B +2.9 +3.0/D -0.7/D +1.4 +4.0/E +5.5/D
Pct Min Init Load Invt NL 1,000,000 NL 3,000 NL 5,000,000 NL 2,500 5.75 250 5.75 250 NL 10,000 5.75 250 NL 10,000 5.75 250 5.75 250 NL 2,500 5.75 250 NL 2,500 NL 2,500 5.75 500 5.75 500 NL 2,500 NL 2,500 4.00 2,500
CA -Conservative Allocation, CI -Intermediate-Term Bond, ES -Europe Stock, FB -Foreign Large Blend, FG -Foreign LargeGrowth, FV -Foreign Large Value, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, MB -Mid-Cap Blend, MV Mid-Cap Value, SH -Specialty-heath, WS -World Stock, Total Return: Chng in NAV with dividends reinvested. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $ needed to invest in fund. Source: Morningstar.