Web site: http://www.i, Mueller Industries, Inc. For Fairfield, the result was disastrous. FCC helped to usher in a larger era of BBS in southwestern Connecticut,[citation needed] including No Class BBS, Powerhouse, Kirby, Alcatraz and The Dog Pound. Of the Length: 13 page (s) Publication Date: Jan 1, 2002 Discipline: Finance Product #: TB0407-PDF-ENG Fairfield members were able to purchase cruises through FairShare Plus, but Carnival wanted to establish a reciprocal relationship with Fairfield. These statements are based on current expectations and the current economic environment. 11001 Executive Center Dr. Little Rock, AR 72211-4316 VIEW MAP (501) 228-2738 Company Details. Instead, Donovan abruptly moved to Atlanta, Georgia, and within a year, steered Fairfield headlong into the Florida resort home-building market. By the end of the 1990s, there were 33 Fairfield resorts located in 12 states and the Bahamas, with additional properties under development. Harvard Business Publishing is an affiliate of Harvard Business School. International Directory of Company Histories. Privacy Policy. Warner was left with few options. In November 2000, Fairfield received an offer from Cendant Corporation to acquire the company for $15 per share. During the course of any event that we organize our employees will be at your complete disposal from the moment you arrive in Brussels to the moment you leave. Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html. 853 Dundee Avenue Fax: (901) 753-3250 Telephone: (816) 502-4000 The Feltham-Ohlson accounting-based valuation approach is used in this note to estimate Fairfield''s equity value. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. Building License: 11886. Free copies of the Proxy Statement filed by Fairfield Communities may be obtained by directing a request to Investor Relations, Fairfield Communities, 8669 Commodity Circle, #200, Orlando, FL 32819. 'But we didn't have the trained management to take on that many projects that quickly. Organization and holding of conferences in Brussels: The success of a dynamically developing business depends on the promotion of the goods and services which the company offers. fairfield ranks in national affordable housing management associa fairfield ranks in affordable housing finance top 50. maintenance supervisors bring unparalleled value to apartment liv #fairfieldpets program at pet-friendly communities nationwide. Fairfield operates over 32 dedicated sales centers and manages over 110 timeshare and whole ownership resort associations. Toll Free: (800) 336-0225 Incorpora, Skip to main content In direct marketing, Cendant provides access to insurance, travel, shopping, auto, and other services primarily to customers of its affinity partners. A former editor of the Harvard Law Review and an attorney by training, Warner developed a resort site on the property, located near Greers Ferry Lake. The phone number was 335-4073. All rights reserved. Actual results could differ materially from those expressed or implied in the forward-looking statements. Fairfield Communities, with more than 324,000 vacation-owning households, is the largest vacation ownership company in the United States, marketing and managing resort properties at 33. We will organize bids competitions to find the right service provider and venue for your event. The dial- in period will commence at 10:45 a.m. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Form 10-K for the year ended December 31, 1999 for Fairfield and in the Form 10-Q for the quarter ended June 30, 2000 for Cendant. Fairfield Brand Identity. It was the largest filing in the states history. The resorts, which were expected to be completed by late 2000 and early 2001 were located in Sedona, Arizona; Durango, Colorado; Daytona Beach, Florida; Las Vegas, Nevada; Gatlinburg, Tennessee; and Destin, Florida. Expanding our presence in this fast-growing industry with one of the recognized leaders will position us to accelerate the Travel Division's growth. Ownership of each property was divided into 52 one-week fixed intervals, allowing Fairfield members to spend a week at the particular resort in which they owned an ownership stake. Customers typically provided a down payment of 16%-18% of the purchase price and financed the balance. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Fairfield members can even vacation at more than 2,500 additional resorts around the world through our international ex-change affiliations. A dynamically developing company with considerable experience of working in this field, DMC Brussels has shown itself to be a responsible partner. More information about Cendant, its companies, brands and current SEC filings may be obtained by calling 877-4INFO-CD (877-446-3623) or by visiting the Company's web site at www.cendant.com. Fairfield Communities, Inc. Is this Your Business? [citation needed], FCC was set up using Galacticomm's Major BBS/Worldgroup software. Fairfield forms initial joint venture with California State Teachers Retirement System (CalSTRS). Sunterra Corp.; Marriott International, Inc.; Cendant Corporation. Under the terms of the proposed merger, Fairfield would become a wholly owned subsidiary of Carnival, allowing Carnival to market its cruises to Fairfield while Fairfield marketed its resorts to Carnival customers. . Members' ownership stakes were assigned symbolic points that could be used for vacation stays of a few days, a week, or longer, in any season members chose. They involve a number of risks and uncertainties that are difficult to predict including the outcome of litigation. DMC Brussels was set up by professionals. We can arrange special out-of-hours visits to museums and pre- and post-conference tours. Employees: 5,324 The company's vacation ownership interests are generally in resort locations featuring fully furnished accommodations and near such amenities as golf courses, swimming pools, beaches, marinas, tennis courts, and other recreational facilities. Web site, Public Company An acquisition offer from Carnival Corporation, the world''s largest cruise-line company, was withdrawn after Carnival''s stock price dropped 42% after the announcement. Address: 8669 Commodity Circle Orlando, Florida 32819 U.S.A. Telephone: (407) 370-5200 Fax: (407) 370-5143 http://www.efairfield.com Statistics: Public Company Incorporated: 1969 Employees: 5,500 Sales: $491.73 million (1999) Stock Exchanges: New York Ticker Symbol: FFD NAIC: 23311 Land Subdividers and Land Development and pay only $8.75 each, Buy 11 - 49 Sales:, 12 East Armour Boulevard In May 1988, he reached an agreement to sell five of the companys six remaining Florida housing projects. Together we have all the components necessary to drive significant growth in the vacation ownership industry.". Fairfield Bay has six churches: Fairfield Bay Baptist, St. Francis of Assisi Catholic, Faith Lutheran, Cornerstone Evangelical, Fairfield Bay United Methodist, and Kirk of the Hills Presbyterian. Box 3375 11001 Executive Center Dr. Little Rock, AR 72203 - 3375 Phone Roughly a month later, Fairfield, stripped of cash, missed a $3.8 million junk bond payment. Its a partnership for the long term, working alongside colleagues in an open-dialogue environment that encourages ideation and growth. Submitted January 13, 1993. 2023
. This acquisition will enable Cendant to expand our timeshare product offerings to our customers: timeshare developers. Public Company To listen to the Webcast, visit the Investor Center portion of the Cendant Web site (www.cendant.com) and install the necessary audio software. Special events in Brussels:Special events are an effective way to underline the importance of an event. Box 3375 11001 Executive Center Dr. Little Rock, AR 72203 - 3375 Write A Review (501) 228-2700 Your Profile? Since Fairfield's inception, weve surpassed major milestones and were not slowing down. He persuaded company officials to purchase a corporate Citation Jet, which he would board from his Jaguar. Any event of this kind will require a range of services, which we can easily tailor them to match your desires and budget. Additional information is available at or by contacting Jose G Caetano at (407) 397-1776. Principal Competitors: Sunterra Corp.; Marriott International, Inc.; Cendant Corporation. BBB Serving Southeast Florida & the Caribbean. We are keen to share with you our knowledge and experience in organizing events including events in the most unusual forms. Donovan also refused to move to Little Rock, Arkansas, where Fairfield was based, ignoring a previously agreed upon plan to relocate from his office in Knoxville, Tennessee, once appointed president. You'll find this community at 3197-3205 Roesch Blvd in the 45014 area of Fairfield. On October 3, 1990, Fairfield declared bankruptcy, seeking Chapter 11 protection from a 226-page list of more than 2,000 creditors. Learning with Cases: An Interactive Study Guide. Fairfield expands to encompass redevelopment, asset management, and dispositions as the company builds prominent equity relationships. We will help you choose a venue to suit both you and your business event. [citation needed]. It provided Internet e-mail starting in February 1994 and full Internet access in March 1995. at 55 (Bankr. Learn more Opinion No. Our extensive network of contacts throughout the region gives you access to experienced and well-qualified specialists. Warner redoubled his efforts in 1987. In the wake of the scuttled merger, Fairfield pressed ahead with the development of its resorts. FAIRFIELD COMMUNITIES, INC. KENTUCKY FCO - FOREIGN CORPORATION: WRITE REVIEW: Address: 11001 Executive Center Drive Little Rock, AR 72211: Registered Agent: C T Corporation System: Filing Date: October 27, 1998: File Number: 0464021: Contact Us About The Company Profile For Fairfield Communities, Inc. Since 2019, weve accelerated our investment opportunities with five new investment funds raised. From the excitement of Myrtle Beach, South Carolina to the shores of California. As a matter of policy, BBB does not endorse any product, service or business. Fairfield members were able to purchase cruises through FairShare Plus, but Carnival wanted to establish a reciprocal relationship with Fairfield. and pay only $8.00 each. Fairfields new marketing plan, like others implemented by other timeshare companies, no longer restricted members choices to a fixed week in fixed seasons. By the end of the 1990s, there were 33 Fairfield resorts located in 12 states and the Bahamas, with additional properties under development. At the top of your Chrome or Firefox window, near the web address, click the green lock. In 1989, the company set another alarming record, registering the worst financial year in its history by posting a $24.8 million loss. Fax: (410) 992-6363 Get the latest business insights from Dun & Bradstreet. We pioneered recycling and energy-efficiency programs among property management companies with Living Green to make sustainability a part of your everyday life. The company, after years of struggling with profound financial problems, faced its future with justifiable optimism. The case provides opportunities for students to apply financial analysis, accounting analysis and valuation techniques to Fairfield, a timeshare company, which used special purpose entities (SPEs) to finance its growing contracts receivable portfolio. Boating. Ticker Symbo, Fairfax of Cameron, Thomas Fairfax, 6th Baron. registered in England No 1129396 and entered in the Register of Charities No 267516. Fairfield Communities, Inc. In a transaction valued at $240 million, Fairfield acquired Fort Lauderdale-based Vacation Break U.S.A. The bank was plagued by more than $400 million in troubled real estate loans, prompting its directors to reform the company's lending practices. The purchase of high-demand vacation time cost more than less popular times of the year. Elgin, Illinois 60120 Between 1981 and 1986, Fairfield increased the number of its resort properties from seven to 29, adding retirement communities, time-share resorts, and a ski lodge to a stable of locations stretching from South Carolina to southern California. Debt stood at $400 million. 4 The 4 conditions needed to achieve the Smart City In addition to the 5 dimensions of the DESI index, the Brussels-Capital Region has identified 4 Aside from providing Fairfield with a heavy presence in southern Floridaan area estimated to be worth $100 million in salesthe acquisition of Vacation Break placed Fairfield among the four largest publicly held, time-share companies in the United States. Katy Industries, Inc. 2859 Paces Ferry Road, Suite 2000 The companys vacation ownership interests are generally in resort locations featuring fully furnished accommodations and near such amenities as golf courses, swimming pools, beaches, marinas, tennis courts, and other recreational facilities. In 1999, the company began sales operations on a start-up basis at six resorts still under development. Horseback riding. Therefore, that information is unavailable for most Encyclopedia.com content. Corzo, Cynthia, Carnival Abandons Plan to Acquire Orlando, Fla., Time-Share Resort, Knight-RidderfTribune Business News, February 25, 2000, p. ITEM00057082. Encyclopedia.com. Part of Fairfield's rapid growth during the late 1970s and early 1980s was fueled by junk bond financing provided by the infamous Michael Milken and Drexel Burnham Lambert. and pay only $8.50 each, Buy 50 - 499 Through affiliations with several worldwide vacation exchange companies, Fairfield offered access to approximately 2,500 additional domestic and international resorts, including Hawaii, the Caribbean, Mexico, Europe, Asia, and Africa. As permitted under US GAAP (generally accepted accounting principles), Fairfield accounted for the SPEs using the equity method of accounting rather than consolidating the SPEs financial statements. By continuing to use our site you consent to the use of cookies as described in A former editor of the Harvard Law Review and an attorney by training, Warner developed a resort site on the property, located near Greers Ferry Lake. learn how over 7,000 companies got started! You must be logged in to access preview copies. International Directory of Company Histories. CalSTRS & Fairfield form a company partnership. Although there were major costs associated with the acquisition, Fairfields stock value soared during the year, increasing an impressive 175 percent. The novelty of FairShare in the United States helped Warner build a bustling business that produced steadily rising profits during the late 1970s and early 1980s. Between 1981 and 1986, Fairfield increased the number of its resort properties from seven to 29, adding retirement communities, time-share resorts, and a ski lodge to a stable of locations stretching from South Carolina to southern California. Under the guidelines of FairShare, Fairfield members purchased an ownership stake in a particular resort property. An investor conference call and simultaneous Webcast to discuss this transaction will begin promptly at 11:00 a.m. on November 2, 2000. 8669 COM CIR STE 200 ORLANDO, FL 32819 (In re Fairfield Communities, Inc.), Nos. Hotels & Resorts | Members ownership stakes were assigned symbolic points that could be used for vacation stays of a few days, a week, or longer, in any season members chose. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. Now, over 100 Fairfield communities nationwide offer sustainable, low-impact, green-living opportunities like green cleaning products in our common areas, low- or no-VOC paint options, and implementing more paperless systems. Statements about future results made in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Organizing unique business events requires profound and comprehensive knowledge of the region, advanced technologies, a team of experienced professionals, and, of course, responsible suppliers of services. Most online reference entries and articles do not have page numbers. Place des Carabiniers 45 B - 1020 Brussels. Incorporated: 1968 as Talcott National Corporation Provision of high-class service staff in Brussels: We can arrange for uniformed guides in your companys corporate style, professional translators, designers, scriptwriters, directors, and audio-video equipment and IT solutions. 10275 Little Patuxent Parkway After watching his companys shares plunge nearly 35 percent in value during the four weeks after the merger was announced, Carnivals chairman withdrew from the transaction. In an interview with Forbes magazine in September 19, 1988, he offered some insight into Fairfield's miscue during the first half of the 1980s. The price of each ownership interest was determined by the value of the particular resort and by the season. Fairfield operates 33 resorts in 12 states and the Bahamas, which are frequented by the company ' s approximately 280,000 members. Warner faced the daunting task of trying to immediately cure profound problems. The case provides background information on the timeshare industry and Fairfield''s business and financing strategies. Warner redoubled his efforts in 1987. The Case Centre is a not-for-profit company limited by guarantee, Pick a style below, and copy the text for your bibliography. The professional leasing team is excited to help you find your ideal place. The case provides sufficient market data to estimate the company''s cost of equity. Cendant Chairman, President and CEO, Henry R. Silverman stated: "Fairfield is known throughout the resort industry for its strong management and outstanding sales and marketing capabilities. International Directory of Company Histories. Lacking in game and download sections, FCC's main appeal was its chat room(s).
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