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John Willard "Bill" Marriott, founder of hotel giant Marriott International in Bethesda, was one of two inductees this week into the Labor Hall of Fame.
"These honorees were accomplished leaders who overcame adversity and made a positive difference in many ways and for many people," U.S. Labor Secretary Elaine L. Chao said at a ceremony, speaking of Marriott and fellow inductee Leonard F. Woodcock, former president of the United Auto Workers and first U.S. ambassador to China.
"Mr. Marriott built a company that employs hundreds of thousands of workers and was one of the very first to offer health care benefits," Chao said. Marriott, whose son J.W. Marriott Jr. is now CEO and chairman, died in 1985.
Marriott, a native of Utah, launched his hospitality business in 1927, when he secured the A&W franchise for Washington, Baltimore and Richmond, Va. As of Sept. 30, the company had about 151,000 employees and operated more than 3,000 hotels worldwide, according to company information.
Foreclosure rate up 17 percent last month
Maryland's home mortgage foreclosure rate increased 17 percent last month from October, according to new data from RealtyTrac of Irvine, Calif. The rate was one filing per 663 households.
The increase was in contrast to the national rate, which fell 7 percent from the previous month to one per 488 households.
Prince George's County again had the highest filing rate in the state, one per 255 households, up 33 percent from October and up 56 percent from November 2007. Charles and Frederick counties had the second- and third-highest rates, respectively, well below Prince George's rate.
Montgomery to ‘ease burden' for businesses
In an effort to "reach out a helping hand" and "ease some of the burden on local businesses," Montgomery County Executive Isiah Leggett on Thursday announced a program to help businesses suffering from the recession and to preserve jobs.
The plan includes measures to delay the effective dates of new regulations and legislation with a substantial impact on business; increase the county's local purchasing of goods and services; and allow deferral for up to one year of county permitting fees and impact taxes.
"Montgomery County business is hurting," said Leggett (D) in a statement. "Much of that hurt is beyond the ability of local government to change. But what we can do, we should do — and do it now. This is a beginning."
Vanda trims workforce by about half
To reduce operating costs, struggling Vanda Pharmaceuticals of Rockville said it is laying off about half its workforce, leaving it with 25 full-time employees.
Also, two senior vice presidents — CFO Steven A. Shallcross and chief medical officer Paolo Baroldi — will leave the company by Jan. 9.
The company, which is developing treatments for schizophrenia and sleep disorders, expects to record a one-time severance-related charge of about $1.3 million in the fourth quarter as a result.