Lets take this opportunity and turn this announcement into a very positive one for every Marriott Vacation Club Owner.
Given the recent article in the WSJ-DumpingTimeshares and Al Lewis's blog
http://newswires-americas.com/tellittoal/ does it make sense to buy stock now in Marriott International (MAR) ?
I encourage you to consider doing the following so that your rights as a Marriott Timeshare owner are represented:
1. Purchase Marriott International (MAR) stock (approximately $40 per share) so as a stockholder you will have voting representation in the new company
2. Push for the inclusion of several owner representatives as members of the new Board of Directors in the spin off company
3. Support the creation of an office of Owner Ombudsman within the new company .
4. Let's work together creating the largest Coalition of Timeshare Owners protecting our interests as Marriott creates the worlds largest stand alone time share company.
5. Stay informed as the regulatory process moves forward. We must be aware of the SEC filings as well as any other state requirements to see how the new company will effect our ownership.
Since the Wall Street Journal column of 2/12/11 by Al Lewis WSJ.com - Dumping Timeshares*, my email box has been filled by Marriott Timeshare owners around the world asking how can we make sure that we will be heard as Marriott spins off the timeshare division into a stand alone company?
I have been encouraged in the overwhelming support for seeking owner representation on the new Board of Directors, the creation of an ombudsman office and an owners coalition. Currently, Marriott International has voiced its objections to the SEC on a stockholders resolution creating an office of Owner Ombudsman.
The Marriott Vacation Club International (MVCI) division has been the only negative aspect of the Marriott brand as voiced by stockholders at the last two Marriott International annual meetings with write offs and impairment charges of over $1.2 billions dollars. In its heyday, the MVCI division had been the cash cow, being one of the largest profit center yet one of the smallest divisions within Marriott International. .
Now, I believe both because of the economy and owner concerns with MVCI it has fallen on hard times. The greatest strength and hope for the success of the Marriott brand and the new company is its 400,000+ owners.
As Timeshare owners we already have a vest interest, so buying stock in Marriott International should give us a stronger voice once the spin off is completed.
One of the bright spots of the new company is that it will be under the direction of Bill Shaw, the newly announced Chairman of the Board who is a trusted, hard working and dedicated individual. We want the high standards that Mr. Shaw represents to be carried forward into the new Company.
The challenges ahead can only be successfully overcome with the support of current owners and stockholders. Let’s hope that during this reorganization, under the direction of a new Board of Directors with owner representation, that MVCI will have learned from mistakes in the past and begin to work with Timeshare owners in a more collaborative and transparent fashion.
Lets take this opportunity to protect our interest and move forward in a positive way by establishing a fresh new beginning.
I look forward to hearing from you.
Please contact me at:
c20854@aol.com
Thank you, Allan Cohen (301-299-2118)