Word: marriott
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Dates: during 1990-1990
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...most obvious ways for companies to make ends meet is to cut costs, which includes heavy trimming of the payroll. Over the past two years, Goodyear has pared its work force by some 6,000 workers, to 109,000. Businesses are also reducing overhead by cutting expenses and perks. Marriott, the highly leveraged hotel chain, recently instituted a salary freeze of up to one year for senior managers and three months for administrative and clerical help. Harcourt sold off its fleet of corporate jets and got rid of its chauffeur-driven limousines...
...architects and developers have reshaped the American city as dramatically as John Portman has done in the past quarter-century. From the hulking Marriott Marquis hotel in Manhattan to the sprawling Embarcadero Center office % complex in San Francisco, Portman has left an imposing mark on urban skylines. But the Atlanta-based master of the vaulting atrium and the skylighted ceiling faces a severe cash crunch. In October, burdened by more than $2 billion in debt and hurt by low occupancy rates in many of his buildings, Portman surrendered to creditors his control of Atlanta's 13-block Peachtree Center...
...competition has stolen away some of Citicorp's top-drawer clients. The bank was taken aback recently when it lost Marriott Hotels, a longtime corporate customer, to a group of Japanese rivals. Citi has also watched nervously as competitors expanded their American beachheads. Britain's Barclays Bank is enlarging its U.S. operations to target multinational firms, many of them Citicorp customers. Of all the rivals on Citi's turf, Reed considers Deutsche Bank "the biggest and most formidable" because of its commanding presence in Europe...
Does the cocktail hour need any more womanizing bartenders like Sam Malone or grouchy waitresses like Carla Tortelli? Well, here's mud in your eye. The TV series Cheers, based on a cozy Boston bar, has inspired a chain of taverns that will be installed in airports and Marriott Hotels across the U.S. The hotel company's catering division and Paramount Pictures Television have struck a deal to open 46 bars modeled after the show's. The Cheers bars will be outfitted to remind patrons of the TV tavern, with dark paneling and Tiffany lamps. Customers will be able...
...labor force and a pent-up market of nearly 140 million consumers in the heart of Europe. Companies from Turin to Tokyo are setting up joint ventures with local firms, and as eager executives flock to the region, such grand hotels as the Budapest Forum and the new Warsaw Marriott buzz with high-stakes deals. "Learning how to invest profitably in Eastern Europe is the hot new game of the 1990s," says Paul Horne, chief international economist for Smith Barney...