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Week of Jan. 10 - 16 2003
" If you don't want it printed, don't let it
happen."
Street Talk is a compendium of tips, facts, gossip,
rumors, speculation and editorial comment.
PUBLISHED EVERY FRIDAY, with frequent updates
throughout the week
E-mail: news@thetimesharebeat.com |
Email: street@streettalkblog.com
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Sorry to announce that due to circumstances beyond our control, we do not have
a new Street Talk this week.
Jan. 11: Having survived the season's full frontal flu attack (oh, but for awhile
we wished we felt good enough to wish we were dead) let's catch up on some of last week's topics, which are still
ongoing. Look for the RED fonts for
updates since last week.
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Hey, all y'all out there. Does RCI still offer anything to sales reps similar to
the Closers Club they used to have?
E-mail street@streettalkblog.com
ALERT:
IF YOU HAVE BEEN LOOKING FOR SOMEONE LISTED IN THE LOST
& FOUND SECTION, PLEASE RE-SUBMIT YOUR
REQUEST (be sure to tell us who you were looking for!). DUE TO A COMPUTER CRASH, WE HAVE LOST ALL OF THE E-MAIL
REQUESTS IN OUR LOST & FOUND FOLDER SO WE CANNOT RESPOND TO YOU WHEN WE FIND SOMEONE. Please send the info to found@thetimesharebeat.com
E-mail street@streettalkblog.com
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Unpaid commissions: --" I
am salesperson in Orlando, owed approx
$15,000 by Florida Enterprises Sales and Marketing that had the Bluegreen contract for Orlando Sunshine Resort.
Bluegreen came in and closed resort on 24 hrs. notice on March 20, 2001. Turns out Owners Frank and Terry Stape
owed Bluegreen money, so they took money owed from money due to salespeople. Ten people are still unpaid from July
29, 2001. Please HELP, any advice and local lawyer that would take the case on contingency..."
Anyone have some advice for those 10 people?
- Your input Jan. 3: --" I don't know the situation,
however I worked for the Stapes some years ago and have remained in contact with them for years. They are very
conscientious guys about paying people and have a track record of taking care of their people. I would call Terry
directly and see what could be resolved."
- AND: --" Having
known and done a bunch of business with
the Stapes', It's my bet they have paid every salesperson for every sale where commissions were earned and payable
(if they were paid, you got paid). I agree with the previous responder, you should contact Frank or Terry. I am
sure you'll learn the true aspects of the situation."
- AND: --" 'If'
what you are saying is true, and I'm
sure that it is, and assuming you and the other sales people have your records in order, then get together and
pursue this matter in the courts.
" First, have each sales person commit to (e.g.) $250.00 in the form of a possible 'kitty' (This fund will
be used for court costs etc.). Once you have all the records, and the commitment to the 'kitty', now contact (from
the yellow pages) Attorneys in your area and request a free consultation (aka: evaluation) with Law firms that
specialize in Employment law.
" It's that simple. The Consultation doesn't cost any money. Briefly present your case to the firm (and don't
get personal about it during the consultation). Ask them to review your documentation as well as any precedent
case(s) etc. and you'll find that if there are such cases, good law firms will in fact take often take your case
on a contingency basis as there is more money in it for them. Look for a law firm that will file the suit immediately
and especially one that is not interested in settling out of court (at least now in the beginning).
" You should know that of all 'civil' cases, on average, less than 20% ever make it to court and the truth
of the matter is that the other 80% settle out of court, usually in favor of the petitioner aka: Plaintiff."
- Jan. 5: --" The
Stapes brothers are choir boys? Don't
listen to that crap!"
- AND: --" The
Stapes are and always have been [unprintable]
....I'd either forget it or get an attorney."
- Jan. 7: --" I
have worked both for and with the Stapes
on many occasions. I have seen and heard the stories about BG as they transpired. It was clearly a bad deal for
all involved. I know that these boys have always paid my commissions. I suggest calling them, they're
in the book."
- Jan. 8: --" Yes,
many have sued, some have won but most
receive " settlements" as noted above. Check out comments above......" 80% settle out of court" is a pretty accurate estimate."
E-mail street@streettalkblog.com
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We thought we'd offer this email we received for your comments
(keep it clean and to the point, please). We emailed the writer back asking if they were in the biz and if so,
how long-- but got no response.
--" Quote, " how many women or other
minority presidents, vice presidents, directors of sales, project directors, etc. are there" end quote.
" Uhm, for your information, women are not a minority. There are almost exactly the same amount of women in
the U.S. as there are men, making them a decided majority in comparison to real " minorities" . The answer
to the question you pose is:
" There are exactly as many women or minority presidents, vice presidents, directors of sales and project managers
as there deserves to be based on merit.
" Your insinuation that there is a " good ol boy" network keeping women and minorities down is typical
of the victim mentality that women and minorities use to gain an advantage over those people who are actually qualified
for the positions they hold."
Whaddaya think? And let's stick to the sales, marketing and executive end of things for this discussion.
- Your Opinions:
- Jan. 4: --" This
person has got to be kidding. First,
the ratio of male to female in the general population has nothing to do with the ratio in timeshare sales. It's
totally irrelevent. I seriously doubt that this person has ever worked in the industry or he/she would know that
the good ol boy network is rampant and affects both men and women in the industry. Cronyism, nepotism, you name
it. Not all the men in positions of authority actually deserve to be there nor are they qualified for the positions
they hold. The same is true of women. There are a lot of both men and women who ARE qualified who never get the
shots because they aren't good enough brown-nosers or aren't willing to do the dirt it often requires to get to
the top. It has nothing to do with a victim mentality, it's the REALITY!!! And we all know it!!!! I have personally
heard a PD of a very big company say that NO WOMAN will ever become a manager on his watch because they just can't
do the job. Excuse me?????? I'm a man, and I know that there are at least a couple of women on that track who are
more qualified to be managers there than some of the sorry excuses (men) who are doing the job now."
- AND: --" Interesting,
considering that in my 20 plus years in
the biz, women are usually the top performers at any site."
- Jan. 8: --" Taking
the finest worker Bees and making them
Queen Bees is not viewed as profitable."
- Jan. 10: --" Taking any top performer out of their slot, where they are successful is a risk.
The problem we have in this business is that we tend to promote folks (men and women) who sell well or whatever,
up to a level of management, that they are unprepared for. Then we lose them. Gender is not the issue."
- AND: --" You know why women are usually the
top performers? We know how to listen, it's in our genes. We have empathy and can connect with our customers without
heat. We make friends easily, without commission breath. And finally, we aren't afraid to call our customers after
the sale. As far as making worker bees into " Queen Bees," you dear fellow, are an idiot because anyone
knows that women are multitasking (remember working fields, having babies, meals, etc.) and can produce more work
in 8 hours than ANY one-task-at-a-time man! Take a look at your mother, she produced you and was probably doing
something else at the same time!"
- AND: --" to the queen bee statement... spoken like a true chauvinist."
E-mail street@streettalkblog.com
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| IN THE WESTERN Half of the USA: |
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CALIFORNIA:
NAPA: Shell Vacations is well along the negotiations-road for a purpose-built
resort in the Napa Valley, which would be a big coup if all goes well. You know the saying, it ain't over
till... Shell isn't the biggest independent timeshare company in the world (though with 14 properties they're not
exactly tiny, either), but they're ripping right along now that they have made it through the lean times. They
have some exceptional locations and some exceptional properties, and wouldn't Napa just be a dandy
addition to the stable?
ANAHEIM: Costa Mesa-based Tarsadia Hotels is building two new hotels
in Garden Grove and San Diego and has acquired another one in Las Vegas. The California hotels
will be Residence Inn properties the Vegas one is the Crowne Plaza Las Vegas. Question: Does Tarsadia still
have plans for a 700-unit timeshare project in Anaheim? Who would they joint venture with?
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The new year ushered in 1,168 new laws in California. One of them is yet another state-based
do-not-call law. The Attorney General's Office will implement the list by April 1 to give
Californians the right to block telemarketers, unless there is a previously established relationship. Politicians
and charities will be exempt. Meanwhile, the grapevine tells us that TSN (Travel Service Network ) announced
to their staff on Dec 31 that their San Diego telemarketing office will be closed as of the 1st of January.
Paying too much and not making enough is the reason. They allegedly changed the locks Dec. 31. This leaves Pacific
Monarch and Syber Sales (Allied Marketing S.D.) with the largest telemarketing rooms in the San Diego
region. Ya got 3 months to jam on it before the new law takes effect, boys and girls...
Also on the hit list: Unsolicited, or " junk" , fax attacks are barred. Rather a lot of timeshare
marketing companies have used junk faxes to solicit what all too often turns out to be really bad deals for consumers
who fall prey to them. Some of those companies have been spanked hard by the FTC in recent years, but do you really
think that stopped them? Think again.
E-mail street@streettalkblog.com
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COLORADO:
ASPEN was the first site chosen by Ritz-Carlton to open its first fractional
ownership property, The Ritz-Carlton Club. They opened 45 units in the Elkhorn Lodge building in
February 2001. Two penthouses, commanding top dollar, opened at the same time in a separate building. Now the project
is complete with the opening last month of 26 units in Phase II, the White River Lodge. The residences are
sold in one-twelfth interests, entitling buyers to 28 days per year in two- or three-bedroom luxury units, and
about 70 percent of the available memberships have been sold in 47 units of phase I. There are 564 fractional ownership
interests available in that phase. About 380 have been sold, and other sales will soon close. Phase II will make
another 213 fractional ownership interests available in the project.
Prices in the club range from $160,000 to $490,000 per 28-day annual ownership interest. It has been interesting
that while traditional timeshares in general depreciate in price alarmingly immediately after they are first sold,
so far this has not been the case with the Aspen Ritz-Carlton Club.
Initial sales prices started at $140,000, and all have steadily climbed. There have been only three resales so
far. One interest appreciated from $160,000 to $196,000. Another climbed from $190,000 to $230,000, and a third
jumped from $140,000 to $175,000. Of course, it's too soon to know if that trend will continue or how resales will
fare in the future.
STEAMBOAT: In late December a top American Skiing Company real estate
executive said she believes condominiums at the Steamboat Grand Hotel are a better match for the Steamboat
market, now that her company's sales program has switched from marketing quartershares in the vacation condos,
to one-eighth shares. AmSki believes the new entry point will fit the demographic of the Steamboat Ski area,
and they are now looking at just a little over a 3-year sell out. To date, 51 percent of the quartershares represented
by the 183 condominiums at the Steamboat Grand have been sold, for a combined $45 million in sales.
COPPER MOUNTAIN: Intrawest broke ground on their new fractional product,
Cirque Lodge, back in November. In an interview with The Summit Daily, Paul Stashick (regional
vice president of development for Intrawest Colorado) was quoted as saying: " In the
past, when people talked about timeshare products, they never had a deed. With IQ [Intrawest's Quarter Ownership],
owners actually get a deed, and that's a big, big difference." If Stashick was quoted correctly, what
a load of you-know-what. Either the man doesn't know a danged thing about timeshare or he was spinning the product
like a top. Of course, the reporter apparently doesn't know anything about timeshare either, or Stashick would
have been nailed for that statement.
Anyway, units at the Cirque are priced from $89,900 to $289,000 and range from 700 to 1,910 square feet and are
being marketed completely within the state of Colorado. Construction will continue through the winter and the building
should be complete between Christmas of 2003 and spring of 2004.
E-mail street@streettalkblog.com
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ARIZONA:
TUCSON: It looks like Hyatt may be going ahead with their plans to build
a 270-unit Hyatt Regency Resort Vacation Club at Dove Mountain, which is located just outside of
Tucson. If they are successful in all of their permitting, etc., the project would be built on 38.15 acres
within the Dove Mountain Specific Plan, south of the proposed Hyatt Resort. Hyatt affiliates its resorts with Interval
International, and you can be sure that this proposed project would be 5-Star quality.
SCOTTSDALE: Robert Hing, the founder of the Scottsdale Athletic Club,
will add 94 timeshare villas adjacent to his E. Indian Bend Rd. athletic club that will combine condo-living with
health club amenities. He says he got the idea for it when members of his athletic club, many of whom are winter
visitors, mentioned that their condos lack recreational amenities. Hing will develop the Scottsdale Club Villas
and market the villas as partial-ownership properties with optional health club memberships. The villas, 28 of
which should be completed in January, will be affiliated with Interval International. A management company
also will allow owners with unused time to rent out their units.
And then there's that deal with Princeton Resorts Group, which is set to break ground on its 20-acre Cibola
Vista Resort & Spa in the northwest Valley near Lake Pleasant. This is a $75 million project that is to be
a 5-Star resort with Interval International and is expected to produce $300 million in timeshare sales.
The property will include an 8,000-square-foot European-style spa, 240 timeshare units, 100 hotel rooms and several
recreational amenities. It is expected to be completed in 2010. They are waiting for funding from Textron,
which they expect in the next 30 days or so. Who is behind the timeshare part of that deal? Westgate Resorts? Pacific
Monarch? Sunterra? Or??
Hmmm. All these new Arizona projects, and all of them affiliating with I.I.
- Your comments Jan. 3: --" Plus both the
Westin Kierland property and Marriott's timeshare project at Desert Ridge are also Interval International."
E-mail street@streettalkblog.com
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LAS VEGAS, Nevada:
Here's how we hear the deal went down. According to the grapevine, Vegas marketing veteran
Peter Braglia let himself be courted by Pacific Monarch Resorts for quite a while, finally allowing
himself to be walked down the aisle in Dec. On Wed. Dec. 18th, at PMR's annual Christmas Party for the Cancun
Resort, the VP of Sales Michael Lindley announced that Braglia had joined the company and would be " Boss
of Bosses" of their marketing division. Braglia was present at the party, stood up and was introduced to the
entire staff (polite applause).
We also hear that Braglia had joined forces with Jim ??, ex-marketing director of Ramada (now Leisure Resorts).
Leisure has given up many of their locations, which were allegedly taken by Jim ?? and merged with Braglia's.
On Dec. 24, with the ink on his contract dry only a week (and allegedly having cashed PMR's big fat sign-on
check), Braglia divorced PMR and hurried back to Kevin Sheehan's Excalibur Marketing operation (with Berkley's
Cliffs at Peace Canyon resort). Did Sheehan make an offer PMR couldn't/wouldn't match? Did Braglia not like
what he saw at PMR after all? Did it have something to do wth the alleged new deal with Jim??? Will this get hairy?
By the way, apropos of nothing, we noticed that PMR's Monarch Grand Vacations has added Tahoe Seasons
Resort in Lake Tahoe and Cedar Break Lodge in Brianhead, Utah to their website.
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The surprise stalking horse bid for the bankrupt megaresort Aladdin looks like
it might be Starwood, in a partnership with Planet Hollywood and some smaller investors. Sources quoted
by The Las Vegas Review Journal said the partnership is offering between $400 million and $500 million for
the resort, which would pay off most or all of the property's secured creditors. They would rename the resort the
Planet Hollywood by Sheraton. So if they end up with the winning bid, will Starwood develop the permitted
256-room timeshare tower at Aladdin, and brand it as a Sheraton? And will Starwood also develop a St. Regis
out at Lake Las Vegas?
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And just how much timeshare might still be coming to Vegas? Well, a whole lot of companies
have renewed their permits, others are already building or preparing to build and more are looking. For instance:
- LH& R Ventures: 962 units proposed at phase III of the Showcase
Mall, adjacent to MGM. UPDATE Jan. 11: The big news here is that this project turns out to
be King David's Westgate Resorts. Yup, that's right. Planning a 54-story timeshare tower that, if built, would
be the tallest occupied structure in Vegas-- and right on the Strip. MGM is not happy about it, since they have
their own 6-towers thing planned with Turnberry on a nearby plot of land. The City Council will review the plans
on Jan. 22. Can't ya just envision it? WESTGATE RESORTS, in neon, plastered across the Las Vegas skyline big as
all get out. Stay tuned.
- Unknown: 1200 units at Las Vegas Blvd and Le Baron Ave
- Algiers: 783 timeshare units (2 year extention)
- Bourbon Street: 660-unit 30-story timeshare tower. (2 year
extention) --Will Leisure Industries get this one?
- Aladdin: 256 timeshare units. (5-year extention)
- Ruffin project: Las Vegas Blvd and Desert Inn, 2512 timeshare
units (2 year extention)
- Turnberry: Las Vegas Blvd and Riviera Blvd, 842 units (2 year
extention)
- Gold Rush: 420 units at Tropicana and Industrial
- Silverleaf Resorts: Harmon & Koval. (See the rumors section
below)
- Hilton Expansion on Las Vegas Blvd
- Leisure Industries Expansion
- Resort Magic Expansion
- Consolidated Resorts:
a new 78-unit resort on Tropicana. UPDATE Jan. 11: Yikes! Around 2:30a.m. on Jan. 7 this construction
project burned down. About 80 firefighters fought the blaze with flames soaring more than 60 feet into the sky.
The heat was so intense that it not only damaged neighboring apartment complexes, it also popped tires on nearby
vehicles.
- Diamond Resorts: a 30-story four-tower French-Themed timeshare
resort adjacent to Polo Towers
- AMX Nevada, converting one tower of the Lady Luck into a timeshare
tower
- MPTT property (no, really. You can stop laughing)
E-mail street@streettalkblog.com
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| IN THE EASTERN Half & Midwest of the USA: |
NEW ORLEANS: A proposed project by Picayune
Place II, LLC to develop a timeshare in the Central Business District was approved (with conditions
regarding height and design review) by the Historic District Landmark Commission. The 90-unit timeshare development
will be located at 209-219 Magazine Street, 512 and 518 Common Street, and 515 Gravier Street. The project represents
a $22 million investment in an area that has been vacant for many years and limits the project to a one-story addition
on Gravier Street. Word on the street in New Orleans is that Picayune Place II, LLC is the baby of John Santapadre,
Sr. This property is across from Club le Pension, owned by the Santapadre family.
E-mail street@streettalkblog.com
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BERKSHIRE MOUNTAINS, Massachusetts: Patriot Resorts
(aka: the Berkley Group) is going to build a fly-buy/mini-vac hotel to accommodate potential purchasers
of their new Vacation Village Resort in Hancock, MA. It will be a 300-suite, $18 million hotel built on
23 acres which the company has purchased from the Eve Rose Trust. The company hopes to begin construction by spring.
Patriot plans to build the three- or four-story hotel in phases, with at least 80 of the suites ready for occupancy
by fall next year. All of the units would be suites, with kitchenettes, as opposed to single rooms. The Patriot
Suites Hotel will also be available to regular visitors, of course-- who will no doubt be OPCed from the premises.
Nine buildings of the Vacation Village Resort have been completed and eight buildings are occupied. Three more
buildings and a clubhouse are under construction. Sales have reportedly been brisk.
E-mail street@streettalkblog.com
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FLORIDA:
ORLANDO:
So is ResortQuest International getting into actual timeshare now? According to
an article in GlobeSt.com, the $70 million Bahama Bay Resort, 15 miles west of Walt Disney World,
has opened 64 timeshare condo units and ResortQuest expects 116 units will be completed by Feb. 1. The 70-acre
Lake Davenport property in Davenport, FL is 6 miles south of Downtown Orlando. The entire gated resort is planned
for 1,000 timeshare units, a 17,000-sf clubhouse, four swimming pools with spas, a fitness center and a lakeside
beach with a fishing dock. If they ARE going timeshare with this, who will be marketing it?
A question from you: --" How
is it that Human Resources for timeshare
developers get away with not being nuetral? Or how are they able to always side with management? Has anyone ever
sued and won in a discrimination situation against a timeshare entity? Please help with feedback. Sick of taking
it! Trying to gain knowledge. (working in Orlando)"
- Your Opinion Jan. 8: --" Tone of this question indicates you are confused. HR is never neutral - not for TS Developers or any other company.
HR = The Company. They are not there to be your personal counselor, advocate or impartial mediator. HR exists to
protect & serve The Company's best interest regardless of the industry. If those interests can serve yours,
so much the better. But it sounds like you need to substitute " Great Attorney" for HR regarding your
questions and business dealings."
- Jan. 10: --" I would like to respond to
the person asking the question about HR being neutral. Take it from someone who has been there. If you are having
or had a problem with a resort while you are employed, or felt that you were discriminated against, please contact
an attorney. I have been through an experience with a local timeshare here in Orlando regarding discrimination
and I may have some advice for you. e-mail the timeshare beat and I'll try to help steer you in the right direction."
- AND: --" Yes, granted they are the go-between for the developer and employees, however, they are supposed
to be there to provide an ear for legitimate complaints and existing problems. In my case with Trendwest the HR
is right in the middle of, and actually is the key to wrong doing and therefore is being investigated by the EEOC.
Maybe that's a position that could be better trained and should be reconfigured with a lot of companies."
E-mail street@streettalkblog.com
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WISCONSIN:
Let's see if we can figure out the reasoning behind the system apparently at work at
the Grand Geneva Resort, Marcus Hotels & Resorts' one-and-only timeshare resort (and it's a beauty,
too). First, management (the PD & DOS) cut in half the commissions earned from sales made to guests
who had first attended a pre-tour podium presentation, and decreed that podium sales don't count toward bonus.
Now they have turned it up a notch by having the managers take the first tours on each wave instead of assigning
those tours to the salespeople. Reps were allegedly told this system was created because the sales are so bad there
that the PD and DOS assume it's all the salespeople's fault. They say that the managers will be able to close at
higher percentages and therefore improve the miserable sales stats. But .... GUESS WHAT? The managers (three of
them) hadn't closed one sale after stealing tours from the staff for over three weeks. Doesn't even HR think that
it might be counterproductive to have sales people sit around all day with no opportunities to make money? So what's
the real problem at this lovely property? Marketing or Management- or both?
- Your Opinions:
- Jan. 5: --" Ah
yes ... the Marcus Vacation Club does have some
rather inovative management styles. The commission cuts for touring Podium guests is just the tip of the proverbial
iceburg. The PD and her DOS don't have a CLUE on how to run a profitable resort much less on how to motivete sales
people. " Rip their hearts out" , " Make them cry" , " teach them how to say YES" ...
is the DOS's training to the reps. Oh yeah, we also sell foreclosures ... but hurry, we only have one left. Old
school? YOU BET!! But it must be working. After all we are closing overall at a huge 5%!! WOW! Oh ... but they
terminate sales reps that don't close at 10%. That makes sense. We gave the DOS a calculator for Christmas but
he hasn't figured out how to turn it on. The line has turned over AGAIN 100% in the last 45 days and they wonder
why. Hummm ....."
- AND: --" This
is only part of the problems that plague
the site. At a sales meeting, the DOS read a confidential letter of resignation from a sales rep to the sales staff.
The purpose is questionable. The sales reps are told they're not there to make friends. Several of the sales reps
walk around talking about how the next people before them, and I quote " are going to go down" . REAL CLASSY.
Not to mention when the filthy language was brought up in a sales meeting the DOS said it's because the people
in sales are very colorful and that when you put men and women together there's going to be sexual overtones. HR
has been informed of the problems, but it doesn't seem they're interested or care about the image of the site.
One sales manager was overheard saying at a table that Marcus Vacation Club is not interested in making a profit.
That's why our prices are so low. Hmmm. And the story goes on!"
E-mail street@streettalkblog.com
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NEW JERSEY and...
Anyone know much about Linh Dinh and his group of pals, based in Eatontown and Cherryhill, New Jersey?
Linh is now reportedly operating in Memphis with Jeff Resnick. (Resnick is " Not a Partner" and associates are allegedly told he is just director of operations, but insiders say that is not so.) Holiday
Reservations in Augusta, Georgia is Linh Dinh and Jeff Resnick. In Eatontown, we hear they are also
operating as Holiday Reservations. In Memphis, Memphis Reservation System. (John Jourdani
was said to be a part of this as well as others.)
- Your comments:
- Jan. 7: --" Yes,
they are, but everything is on the up
and up. Lihn is the owner Jeff is just Operations manager. John Jurdini has nothing to do with it nor does Michael
Midcuff."
Michael Midcuff's club in Nashville bit the dust in 200l - partnered with Winston Ingram.
Checks reportedly bounced higher than a kite. Another club opened in Nashville with Winston Ingram doing the marketing.
This club bit the dust, too. (Incidentally, we are told that Ingram just resurfaced in New Orleans, working as
Delta, housed at Plaza Suites. True? Not?)
Holidays at Opryland in Nashville just closed. Many of these people are associated with Jourdani and Midcuff.
Is this another vacation club scam, or are those folks and their products legit? We hear there are good people
being hurt... Anyone want to wade in with information?
- Your input, Jan. 11: --" Jourdini and
Midcuff were not associated with Holidays at Opryland. They are all intertwined
by personal relationships, lawsuits, etc. However, they had nothing to do with McGowan's club. All of them, Jourdini,
Midcuff, Eric Ginn, and Linh Dinh are out of the New Jersey area. Eric Ginn was Sales Manager for Midcuff and Ingram
in Nashville. And again, Jeff Resnick is a partner - this is pushed under the rug because of his former relationships
with the New Jersey AG, Virginia AG, and reportedly in the Carolinas."
- AND: --" holidays at OpryLand was not associated with Midcuff or Jourdani - however,
they all worked together in New Jersey. As far as Resnick and Linh Dinh, papers may show that they are not partners,
however in August, Linh introduced Jeff as his partner."
E-mail street@streettalkblog.com
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| Rumors rumors, who's got the rumors... |
- Is there any truth to the rumor that Pacific Monarch Resorts has been served
(major lawsuit) by two former employees (one being with the company 7 years and the other being with the company
12 years)? Their last postions were GM and AGM... Bubble bubble toil and trouble...
- Is there any truth to the rumor that a certain Big VP at Myrtle Beach
got caught with his hand in the cookie jar? If true, has he been fired or forgiven?
- Is there any truth to the rumor that Las Vegas is allowing Silverleaf
Resorts to redesign its plans for its Vegas resort on Koval and Harmon, making it higher and connecting it
to Fairfield's Grand Desert Resort? Will Fairfield buy it? Will Cendant buy Silverleaf?
- Is there any truth to the rumor that Michael Kosmin has finally
found a new home in Hawaii with Outrigger Hotels & Resorts?
- E-mail
street@streettalkblog.com
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- Quotable quotes: " The people who oppose your ideas are inevitably those who represent
the established order that your ideas will upset." —Anthony
D'Angelo
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| INTERNATIONAL: |
- CRETE: Finalized plans have been submitted to national Greek authorities
for approval of a 1,000-acre, integrated destination resort on the Greek island of Crete. Eastern Crete Development
Co., of Athens, has selected Boston-based Sasaki Associates Inc. as the master planner for the resort.
Located at the far eastern end of Crete, if the resort is approved it will include lodging, housing and resort
attractions such as pools, tennis courts and golf courses. It is currently designed to feature nearly 700 hotel
rooms, as well as 425 condominiums and timeshare units and an estimated 250 real estate villas and lots.
- MEXICO: We hear that Mayan Palace has decided to sell a
new high-end fractional product at their Puerto Penasco (aka Rocky Point) project, and that there will
be no Sea Garden to sell at that location. (The resort is actually about 20 miles south of Rocky Point, on a lovely
estuary.) We hear that sales have started there, and if that is true we sincerely hope that the new road has been
built connecting it to Caborca (the road from Rocky Point is, um, an adventure) and that they hurry on that airport...
Details, anyone?
E-mail street@streettalkblog.com
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| Idle Thoughts: |
- This is good to hear: --" Great
news!!!! Give credit where credit is due I received a reserve check for over $900. Then another check arrived for $220, 30 days later. This is the first
time I have received my earned reserves without conflict or question. Say what you will about Berkley [Group] but
I have received every cent that was due to me. Thank-you Berkley!"
- On Dec. 30 the 3rd District Court of Appeals in Sacramento upheld a lower-court
ruling that the state Legislature's dominance of the California Coastal Commission violates the state Constitution's
separation of powers provision, in part because eight of the 12 commissioners are appointed by the Legislature.
The original ruling was made on May 8, 2001, by Sacramento Superior Court Judge Charles C. Kobayashi in Marine
Fisheries Society v. California Coastal Commission. The position of the court was that even though it is a legislatively
created agency, the Commission performs executive and legislative planning functions, then performs a quasi-judicial
function in reviewing applications for permits for private property development, and finally serves as an executive
enforcement agency. So, this appointed, non-elected, Commission performs all functions of government, i.e., executive,
legislative and judiciary, in mixed fashion.
The ruling that the Commission is unconstitutional is a victory for property-rights advocates and development
interests, who joined forces in the original lawsuit challenging the commission's enforcement powers. Most likely
the Commission will appeal the decision, so there is no cause for celebration just yet. But if the ruling holds,
it will have sweeping implications for timeshare and other resort development along the California coast.
- Which timeshare operator recently got a $4,600,000 construction loan for a timeshare
project in Malden, Massachuetts?
- With sweeping new laws imminent regarding telemarketing, cities increasingly clamping
down on OPC operations and other established ways of generating tours under fire, one has to wonder why most timeshare
companies are not actively exploring new ways of doing business. Marriott took to the Internet a couple of years
ago in a big (but quiet) way and it has been extremely profitable for them Trendwest and a few others are exploring
online alternatives, too. But we suspect that one of the major culprits is the Marketing execs, who are very good
at doing things the way they have always been done but know nothing about how to do it in the Internet world and
are therefore resisting it with every fibre of their beings. They are, after all, protecting their turf and their
own livelihood. Why encourage the companies they work for to look elsewhere for expertise, endangering their own
income? Along this line of thought, you might want to take a look at Jerry Sikes' column
this week.
E-mail
street@streettalkblog.com
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| People on the Move: |
- Robert Vitello is the new Director of Sales (Direct Line) at Embassy Grand
Beach, Orlando. Rob comes to Sunterra / Embassy from Shell and also has management experience at Hilton Grand
Vacation Club (Vegas), Epic (Philly and LA areas) and Orange Lake Country Club. Our best wishes to Robert. Good
Luck!
- Congratulations to Brent Lawrence on his promotion to Managing Director at
Hilton Grand Vacations in New York. Also to his wife Amy for her progression to division marketing
manager for the East Coast. Definitely well deserved by both, according to our sources. Rumors that Paul
Evans will fill Brent's former spot abound.
- Holiday Beach Resort in Destin, FL is proud to announce the promotion of Leslie
Lee to Sales Manager. Congratulations, Leslie!
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| Street Talk is a compendium of tips, facts, gossip, rumors, speculation and editorial comment provided by The Timeshare Beat as an outlet for the free expression of its readers
and for their entertainment. The Timeshare Beat makes no assertion as to the veracity of the items contained herein.
If erroneous information is inadvertently
included and a correction to this information is subsequently sent to The Timeshare Beat, the correction will be
prominently published. Opinions published within Street
Talk are the opinions of the authors thereof and are not necessarily the opinions of The Timeshare Beat. |
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