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Dr. Thomas E. Martin III, PhD
12 Comments
Wyndham Worldwide Corporation Q2 2008 Earnings Call Transcript
I have 20 years of combined major industry Professional Tool and Equipment marketing, extending open credit terms, sales, co op advertising, and Business Net Worth planning. In Addition, I am a graduate of an Online University in both Business and Physical Education. In 2002, I completed the Series 7, 6, and 63 as well as Life and Health Insurance CE credits.
Earnings Preview: Wyndham Worldwide
For the past several years I have faced False sense of urgency company POLITICS as I continue to innovate LOGIC into top heavy emotion based Real Estate and Vacation Ownership sales and marketing depts.. We need CONGRESS to pass SUITABILITY LENDING ACT across the board to stablize our economy over the long term!!!
Earnings Preview: Wyndham Worldwide
"Suitability"... Vacation Ownership Example:
Medical Exam vs. Vacation Ownership Analysis
Medical Checkup vs. Vacation Ownership Checkup
Medical History vs Fact Finding
Symptoms vs Goals and Concerns
Tests vs Vacation Calculations
Diagnose the Problem vs Diagnose the Need
Prescribe Treatment vs Suggest Solutions
Follow up vs Review
Vacation ownership professionals should follow the same method of inquiry and resolution as medical professionals.
* Doctors ask for a medical history -
Vacation professionals gather facts
* Doctors observe and record symptoms -
Vacation professionals record client’s concerns and goals
* Medical Tests are performed -
Vacation calculations are performed
* Doctors diagnose the problem -
Vacation professionals help determine needs and wants
* Doctors prescribe a treatment -
Vacation professionals present a solution
* Patients return to the doctor for a follow up Vacation professionals periodically review their client’s situation
Created By,
Thomas E. Martin III, PhD (09/11/2008)
INTRODUCTION TO CHANGE
SKILL TRANSFER LOGIC EXERCISES FOR LEARNING TO IMPACT THE PRIVATE BUSINESS OWNER AND AFFLUENT AND NON AFFLUENT MARKETS.
This overview is the initial level of the scheme and is very much aimed at the mentors and new hire trainers employed in banking and investments and insurance and real estate and timeshare sic codes.
AIM
The outline is aimed at the mentors and trainers who are attempting to market and sell needs based products and services to the private business owners and affluent and non affluent consumers. The logic system aims to provide each new and existing employee with a body of knowledge and practical expertise that has proven to enable employees to progress into the private business owner sic codes as well as reach new customers.
OBJECTIVES
1. To give the employee a very basic understanding of the principles on which the logic system is based.
2. To ensure that the employee understands the principles and fundamentals of the logic system.
3. Business Owners and Employees will have a full understanding of the safety and precautions when presenting the logic system.
4. To give to employees a working knowledge of the rules so that he or she does not misrepresent the products and services.
5. To ensure the employee is familiar with the basic principles of the logic system as they apply to the private industry and affluent consumers.
BASIC TEACHING PRINCIPLES
In business training, all mentors and trainers are to an extent teachers and the principle used by the teacher to produce an environment for learning, effectively impart information and produce meaningful and result-producing activity have much to commend them.
EFFECTIVE DESCRIPTION
Many trainers and mentors use their enthusiasm to convey their knowledge can easily over-elaborate their description of the business products and services to the public and private sectors. WARNING The enthusiasm as well as the emotion could easily trick the consumers to make an unsuitable purchase based on the consumers monthly budget.
RE-INFORCEMENT AND ENCOURAGEMENT
Nothing puts a new hire and existing employee off more than being told, “Don’t do this, or don’t do that!” or emphasizing what they are doing wrongly. Be a positive mentor or trainer and back this attitude up by positive re-inforcement – “Do this, and do that,” is much more encouraging and confidence building for an employee. Put emphasis on what they are doing correctly. Praise brings far more results than criticism.
Example: REAL ESTATE & TIMESHARE VACATION OWNERSHIP POINTS (SUITABLILITY MATCH/FIT CLOSE NEW SOLUTION PRESENTATION).
1. Meet and Greet
2. General Warm-up (Break the Pact)
3. Specific Warm-up
4. Overview
5. Trouble Shoot for cash flow problem areas
6. Demo Budget
7. Demo Cash Flow Management skills toward ownership
8. Asset – Liability = Net Worth ( DEED Vs. RECIEPT )
9. COnservation of Net Worth + or - = Personal Choice.
10. Demo Timeshare Points lodging ownership plan.
11. Rent Vs. Own use Life Expectancy Chart & CPI Inflation Chart
12. Commitment = Break The Financial Hardship Cycle.
13. Suitability Close =Match DEED or UDI to the consumers Budget. This system protects the consumers as well as reduces the loan default rates. Find the “set point” budget number for the consumer and help the consumer work upward as time moves forward. CHANGE=The current mentors teach reps top heavy emotion selling techniques. They teach the reps to sell from the top loan package downward! We must change the system in order to stabilize our economy!!!
… 2006 Copyright@Martin Consulting DBA Thomas E. Martin III, PhD
Earnings Preview: Wyndham Worldwide Corp.
Medical Exam vs. Vacation Ownership Analysis
Medical Checkup Vacation Ownership Checkup
Medical History Fact Finding
Symptoms Goals and Concerns
Tests Vacation Calculations
Diagnose the Problem Diagnose the Need
Prescribe Treatment Suggest Solutions
Follow up Review
Vacation professionals should follow the same method of inquiry and resolution as medical professionals.
* Doctors ask for a medical history -
Vacation professionals gather facts
* Doctors observe and record symptoms -
Vacation professionals record client’s concerns and goals
* Medical Tests are performed -
Vacation calculations are performed
* Doctors diagnose the problem -
Vacation professionals help determine needs and wants
* Doctors prescribe a treatment -
Vacation professionals present a solution
* Patients return to the doctor for a follow up Vacation professionals periodically review their client’s situation
Created By,
Thomas E. Martin III, PhD (09/11/2008)
INTRODUCTION TO CHANGE
SKILL TRANSFER LOGIC EXERCISES FOR LEARNING TO IMPACT THE PRIVATE BUSINESS OWNER AND AFFLUENT AND NON AFFLUENT MARKETS.
This overview is the initial level of the scheme and is very much aimed at the mentors and new hire trainers employed in banking and investments and insurance and real estate and timeshare sic codes.
AIM
The outline is aimed at the mentors and trainers who are attempting to market and sell needs based products and services to the private business owners and affluent and non affluent consumers. The logic system aims to provide each new and existing employee with a body of knowledge and practical expertise that has proven to enable employees to progress into the private business owner sic codes as well as reach new customers.
OBJECTIVES
1. To give the employee a very basic understanding of the principles on which the logic system is based.
2. To ensure that the employee understands the principles and fundamentals of the logic system.
3. Business Owners and Employees will have a full understanding of the safety and precautions when presenting the logic system.
4. To give to employees a working knowledge of the rules so that he or she does not misrepresent the products and services.
5. To ensure the employee is familiar with the basic principles of the logic system as they apply to the private industry and affluent consumers.
BASIC TEACHING PRINCIPLES
In business training, all mentors and trainers are to an extent teachers and the principle used by the teacher to produce an environment for learning, effectively impart information and produce meaningful and result-producing activity have much to commend them.
EFFECTIVE DESCRIPTION
Many trainers and mentors use their enthusiasm to convey their knowledge can easily over-elaborate their description of the business products and services to the public and private sectors. WARNING The enthusiasm as well as the emotion could easily trick the consumers to make an unsuitable purchase based on the consumers monthly budget.
RE-INFORCEMENT AND ENCOURAGEMENT
Nothing puts a new hire and existing employee off more than being told, “Don’t do this, or don’t do that!” or emphasizing what they are doing wrongly. Be a positive mentor or trainer and back this attitude up by positive re-inforcement – “Do this, and do that,” is much more encouraging and confidence building for an employee. Put emphasis on what they are doing correctly. Praise brings far more results than criticism.
Example: REAL ESTATE & TIMESHARE POINTS (SUITABLILITY MATCH/FIT CLOSE NEW SOLUTION PRESENTATION).
1. Meet and Greet
2. General Warm-up
3. Specific Warm-up
4. Overview
5. Trouble Shoot for cash flow problem areas
6. Budget
7. Cash Flow management skills
8. Asset – Liability = Net Worth ( DEED Vs. RECIEPT )
9. Net Worth + or - = Personal Choice.
10. Timeshare Points lodging ownership plan.
11. Rent Vs. Own use Life Expectancy Chart & CPI Inflation Chart
12. Commitment = Break The Financial Hardship Cycle.
13. Suitability Close =Match DEED or UDI to the consumers Budget. This system protects the consumers as well as reduces the loan default rates. Find the “set point” budget number for the consumer and help the consumer work upward as time moves forward. CHANGE=The current mentors teach reps top heavy emotion selling techniques. They teach the reps to sell from the top loan package downward! We must change the system in order to stabilize our economy!!!
… 2006 Copyright@Martin Consulting DBA Thomas E. Martin III, PhD
Wyndham Worldwide Corporation Q1 2008 Earnings Call Transcript
IF the timeshare SUPERIORS desire to reduce DEED defaults they must create a budget for the consumer in turn match the clients misc vacation spending habits to a package. In closing, The consumer must KNOW BUDGET NUMBER AND WORK WAY UP!!! SUITABILITY DEED CLOSE IS A WIN WIN FOR ALL PARTIES!!!!!
Jim Cramer's Stop Trading! 4/8/08: Much Ado about WaMu
Earnings Preview: Wyndham Worldwide Corp.
First of all, I suggest that when interviewing applicants, Wyndham recruiters be very specific about the type of commitment we expect from our employees. Let the applicants know that we only want to hire those who can make at least a one-year commitment to the company. Also, perhaps we should consider how stable an applicant's employment history has been. Secondly, I would consider a “3,5,7 yr vesting schedule” inside the Wyndham 401K, which in turn would provide golden handcuffs on key producers as well as reduce the future inducement cost, etc. Lastly, I would introduce 21st century comprehensive planning tools into the Wyndham vacation ownership employee training classes. Please contact me @ tm3phd@comcast.net for more detail.
Sincerely,
Thomas E. Martin III, PhD
Martin Consulting
Earnings Preview: Wyndham Worldwide Corp.
I am concerned about the Wyndham declining stock price and the employee turnover in the Wyndham Worldwide Vacation ownership marketing and sales departments. Over the last year, the average length of employment has been four months. Since an employee's first two months are spent learning the product and service, we only benefit from an average of two months of steady work. Clearly, we must find a solution to this problem. As time moves forward, Inflation and Inducement costs put a major strain on the Wyndham company general assets.
First of all, I suggest that when interviewing applicants, recruiters be very specific about the type of commitment we expect from our employees. Let the applicants know that we only want to hire those who can make at least a one-year commitment to the company. Also, perhaps we should consider how stable an applicant's employment history has been. Secondly, I would consider a “3,5,7 yr vesting schedule” inside the Wyndham 401K, which in turn would provide golden handcuffs on key producers as well as reduce the future inducement cost, etc. Lastly, I would introduce 21st century comprehensive planning tools into the Wyndham vacation ownership employee marketing and sales training classes. Please contact me @tm3phd@comcast.net for more detail.
Sincerely,
Thomas E. Martin III, PhD
Martin Consulting
Wyndham Worldwide, Corp. Q3 2007 Earnings Call Transcript
Seven Sylvan Way
Parsippany, NJ 07054
Dear Board of Directors,
I am concerned about the Wyndham declining stock price and the employee turnover in the Wyndham Worldwide Vacation ownership marketing and sales departments. Over the last year, the average length of employment has been four months. Since an employee's first two months are spent learning the product and service, we only benefit from an average of two months of steady work. Clearly, we must find a solution to this problem. As time moves forward, Inflation and Inducement costs put a major strain on the Wyndham company general assets.
First of all, I suggest that when interviewing applicants, you be very specific about the type of commitment we expect from our employees. Let the applicants know that we only want to hire those who can make at least a one-year commitment to the company. Also, perhaps we should consider how stable an applicant's employment history has been. Secondly, I would consider a “3,5,7 yr vesting schedule” inside the Wyndham 401K, which in turn could provide golden handcuffs on key producers as well as reduce the future inducement cost, etc. Lastly, I would introduce 21st century comprehensive planning tools into the Wyndham vacation ownership employee training classes. Please feel free to contact me for more detail.
Sincerely,
Thomas E. Martin III, PhD
Martin Consulting
tm3phd@comcast.net
Wyndham Worldwide, Corp. Q3 2007 Earnings Call Transcript
Wyndham Worldwide, Corp. Q3 2007 Earnings Call Transcript
I'm a former financial advisor now working inside wyndham vacation ownership as a vacation counselor. In 2005, I introduced NET WORTH and INFLATION and CASH FLOW MANAGEMENT SKILLS to the consumers on tour as well as top Wyndham and RCI VPs and managers and directors at the Myrtle Beach, SC and recently the Las Vegas corporate site. My closing numbers demo #1 in the Wyndham Worldwide company scorecard however I'm NOT able to break through the top rank and file POLITICS at WYNDHAM.. Lastly, I can NOT believe WYNDHAM does NOT incorporate vesting schedules into the new hire process which in turn reduces INDUCEMENT COST,etc,etc.. The strain on the WYNDHAM general assets combined with Inflation forces negative outcomes at time moves forward...! I'm attempting to reach out to the right people with this e-mail. Please contact me if I may assist you further @tm3phd@comcast.net..
Sincerely,
Thomas E. Martin III, PhD
WW SALES ID 16757
Wyndham Worldwide, Corp. Q3 2007 Earnings Call Transcript
I'm a former financial advisor now working inside wyndham vacation ownership as a vacation counselor. In 2005, I introduced NET WORTH and INFLATION and CASH FLOW MANAGEMENT SKILLS to the consumers on tour as well as top Wyndham and RCI VPs and managers and directors at the Myrtle Beach, SC and recently the Las Vegas corporate site. My closing numbers demo #1 in the Wyndham Worldwide company scorecard however I'm NOT able to break through the top rank and file POLITICS at WYNDHAM.. Lastly, I can NOT believe WYNDHAM does NOT incorporate vesting schedules into the new hire process which in turn reduces INDUCEMENT COST,etc,etc.. The strain on the WYNDHAM general assets combined with Inflation forces negative outcomes at time moves forward...! I'm attempting to reach out to the right people with this e-mail. Please contact me if I may assist you further @tm3phd@comcast.net..
Sincerely,
Thomas E. Martin III, PhD
WW SALES ID 16757