Word: marriotts
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Dates: during 1990-1999
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...Mills recipe rejects mainline, multistory department stores in favor of a ground-level, oval floor plan anchored by off-price retailers like Saks' off 5th, T.J. Maxx and Marshalls. Throw in a couple hundred specialty stores. Add a giant Marriott-managed food court as well as theme eateries such as Puck's and Rainforest Cafe. Stir in razzmatazz such as Ogden Entertainment's American Wilderness Experience, a combination restaurant, retail outlet and enviro-amusement park; or GameWorks, the virtual-reality video-game arcade created by Sega, DreamWorks SKG and Universal Studios. "To win in this business you must offer vibrancy...
...longer. Today Bradford is a poster boy for the barely begun--and some would say doomed--effort to move most welfare clients off the dole and into decent jobs. As a graduate of a six-week welfare-to-work program sponsored by Marriott Corp., Bradford has a foot on the ladder at the company's Crystal Gateway Hotel in Arlington, Va., where he cleans and sets up conference rooms for $7.60 an hour (vs. the current minimum wage of $4.75). He gets health insurance and profit sharing and will be eligible for stock options next year. "In the beginning...
That's precisely what trailblazing companies like Marriott and nonprofit outfits like the California-based Center for Employment Training have been demonstrating--albeit to a still relatively tiny degree. Under their tutelage, tens of thousands of former welfare recipients now hold down positions ranging from executive secretary to shop-floor inspector to assistant hotel manager. Importantly, the programs are market driven, providing truly qualified workers for companies with real needs. Here is a look at some of the leading efforts...
...some of the harder groups in the case loads," says David Ellwood, a professor of public policy at Harvard's Kennedy School of Government and a former adviser to Bill Clinton on welfare matters. "The jury is still very much out." True enough. But companies like Marriott are showing that the welfare rolls can be a source of valued workers who know how to use a fighting chance...
...best prospects are in hotel and office REITs. Apartment buildings and strip centers are well into a recovery, and malls are in long-term decline, says Mike Kirby, principal at Green Street Advisors. He likes Liberty Properties Trust and Host Marriott. But in the jargony REIT world, you might stick with mutual funds. REITs aren't perfect, but they're decent cover in a shaky market...