The Marcus Corporation (NYSE: MCS) today announced it has been recognized by Forbes magazine as one of “America’s 100 Most Trustworthy Companies” in 2013. The rankings identify the most transparent and trustworthy businesses that trade on American exchanges.
“We are pleased to receive this recognition for our corporate values and conservative approach to operating our business. Our multi-generational philosophies of maintaining a strong financial position, owning and maintaining our real estate assets, focusing on quality and value, and managing for the long term have enabled us to not only survive, but grow, through various ups and downs in the economy,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation.
“We have a strong Board of Directors that is dedicated to representing our shareholders through high standards and good corporate governance. This recognition from Forbes reflects our commitment to being a strong, ethical and well-managed company, and is a result of the dedication of our Board, management team and associates to these core values,” said Stephen H. Marcus, chairman of The Marcus Corporation.
To compile the sixth list of most trustworthy companies, Forbes partnered with GMI Ratings (GMI) and examined more than 8,000 companies traded on the U.S. exchanges. Quarterly accounting and governance scores, or AGR, were assigned based on proprietary modeling designed to identify practices that historically have a high correlation with increasing shareholder risk. GMI looked at over 60 different governance and forensic accounting measures to find those companies that persistently display the most in accounting transparency, low incidence of high-risk events and have appropriate Board supervision. The 100 companies are grouped into four categories based on market capitalization.
To qualify for the list, companies had to have market caps over $250 million, maintained AGR ratings of “conservative” or “average” for the last four quarters, no amended filings, enforcement actions or material restatements with the Securities and Exchange Commission, rank high in GMI’s Equity Risk Ranking and have minimal likelihood of financial distress.
To view the entire Forbes list of “America’s 100 Most Trustworthy Companies,” please visit: http://www.forbes.com/sites/jacquelynsmith/2013/03/18/americas-100-most-trustworthy-companies.
About The Marcus Corporation
Headquartered in Milwaukee, Wisconsin, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. The Marcus Corporation’s theatre division, Marcus Theatres®, currently owns or manages 687 screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio. The company’s lodging division, Marcus® Hotels & Resorts, owns and/or manages 20 hotels, resorts and other properties in 11 states. For more information, please visit the company’s website at www.marcuscorp.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates of the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and the continuing availability of funds for such development; and (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States or incidents such as the tragedy in a movie theatre in Colorado. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.