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Harrah’s hires former Disney executive for new position
Monday, Oct. 19, 2009 | 3:18 p.m.
Harrah's Entertainment Inc. of Las Vegas today said it hired former Walt Disney Co. executive Peter E. Murphy as a senior executive to help the company expand globally.
Murphy was named president-strategy and development, a newly created position.
Murphy was with Disney until 2007 in a variety of executive roles, including chief strategic officer and senior adviser to the chief executive officer.
From 1998 to 2005, he was Disney's senior executive vice president, chief strategic officer and a member of the company's executive management committee. During his tenure, Disney acquired Capital Cities/ABC, Fox Family Worldwide, 40 percent of E! Entertainment Television, the Miramax Film Corporation, Baby Einstein and The Muppets, among others. He was responsible for strategy and new business development, mergers and acquisitions, technology, brand management and long-term planning for the growth of Disney's global business, Harrah's said.
Murphy is also the founder of Wentworth Capital Management, a private investment and venture capital firm focused on media, technology and branded consumer businesses, and has served as a senior advisor to Apollo Management -- one of the companies that controls Harrah's.
"Peter is an accomplished, thoughtful and rigorous executive who will help us significantly as we continue to identify areas for future growth and to explore opportunities created by current economic conditions," Gary Loveman, Harrah's Entertainment's chairman, president and chief executive officer, said in a statement.
"In this newly created position, Peter will help us envision and execute our plans for the future growth and development of the company," Loveman said. "His work will include new domestic and international development, mergers and acquisitions and expansion of our third-party relationships with the entertainment, retail, airline, hospitality and other industries."
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What kind of Mickey Mouse operation is this?
That is the way to do it.. take an average low end company, piss off the moral of the employess, take away from them to bolster your bottom line. then expand into other markets. I think that they do not get it. You take what you have, maintain it, maximize it, and get that house in order BEFORE you take on more issues. If you can't get it right there, why would want to take on other items and run them into the ground! Bigger is not better if you are not going to improve on what you buy.
HARRAHS please listen to me .. Every thing you buy up you run into the ground EVERYTHING ! do one thing at a time do it right THEN and only then move on to other projects. All you are doing is screwing everybody in the wake. Customers, employees.. everybody ... But that is logical and based on common sense, which I think is lacking in that Ivory tower you work in !!
Oh boy look out folks the mouse man will really put the screws to an already screwed situation. And where in this guy's credentials does it say that he understands gaming and Las Vegas tourism?
Just what we need another exec. This will create another round of layoffs , but why do they care they ( execs) have their jobs! How is their bankruptcy going?
Grab your wallets and hide your children, Harrah's will become another worthless stock.
One has to wonder how these executives go from one company to another and then another one plucks them up. He was dumped from Disney and numerous Disney executives, as well as Wall Street analysts who track the company, had seen the internal unrest surrounding Murphy as an opportunity for Iger to score points, he succeeded and Disney is on the rebound.
Maybe one day corporate America will wake up and bring in real talent and look out for the investor, not their paychecks or stock sales.
Harrah's isn't publicly traded and doesn't offer stock and considering that Disney has been around for over 80 years and has one of the strongest financial outlooks in the entertainment industry, this is a smart move on Harrah's part. Seems to me that the people who grouse on here, generally, haven't got a clue what they're talking about and just like to gripe.
Disney is now a strong stock; it sure wasn't. He was dumped, do your homework!
I've never laughed so hard.
Sporty, give me a break. The problem is that Harrah's is incredibly management heavy. Plus, they are so heavily levered, they can barely pay the bills. They are robbing Peter to pay Paul - at twice the interest rate. 9,000 employees get laid off and the rest lose their 401(k)s...and they hire this schmuck...
Harrah's is one sad company Always was Always will be. Trust me, this guy will last only 2 years and then get fired. Once they figure he's done nothing and then they add up the cost of all his first class/private jet tickets and of course he's suites at all the Four Seasons all over the world, it's bye bye time They are a sad bunch of classroom geeks.
Here is a 2005 Los Angeles Times article with a pretty good overview of Mr. Murphy:
http://articles.latimes.com/2005/mar/26/...
Harrah's has too many Chiefs and not enough Warriors!
That Gary Loveman, has the hotels here in vegas on skeleton crews. I would not eat anything at the hotels because they don't throw anything away. God are they cheap on everything.
Why has Loveman delineated the brands of what were once spectacular properties? Rio is the best known example although all of their properties are maintained poorly and their brand essence so watered down as to be lackluster. Loveman's initial genius of data mining and customer relationship marketing ala Total Rewards changed the industry, but, it could appear that his non-gaming affinity (compare him to Binion or Wynn for example) is, over time, positioning Harrah's more like a parody of a gaming company.
sassyfrolet : What kind of Mickey Mouse operation is this? has it down HAHAHAHAHA! I'm laughing hard!!
The bloggers on this site always crack me up!
FACT: Gary Loveman is such "A LUG"
I've worked at a strip casino for over 6 years. What I don't understand is why their stocks are going up, because it sure isn't from making a profit. It's a sad situtation there's no people spending any money. Layoffs start always at the lowest paying jobs with the people the customers see. Try looking for a cocktail waitress or a slot attendant or for that matter for someone to clean someones vomit. Those people are gone.
GD person the reason their stocks continue to go up is in the gamble of the stock market.
People who trade stocks are a different form of gambler.They place their money in a non secure investment and sit and wait.Just like the person who makes a bet on a Black Jack table and waits for his cards.
When a corperations stocks start going up generaly it is due to the trading of the share volumn. When corperations make changes in their financing and juggle their loans around it adjusts their bottomline and it appears they have fended off trouble.In return it encourages the stock gambler and they buy their shares looking for things to improve over the long haul.
It is all one big gamble across the board and right now their is alot of stocks which are a great buy some over the past few years have dropped 75% or more.
The stock buyer who has the ability to invest their funds and wait buy and sit and wait for them to rise up a little then sell to another buyer who wants to get in on the action while its on the upward move.
Harrahs is private to my understanding but Appolo is public from my understanding.So they are trading on their parent company who is able to filter their funds into Harrahs and use its clout with banks to adjust their loans,renegociate their loans and find ways to improve the sibblings companies bottomline.
Once again a big gamble and we will see more of this to come as the countries economic situation begins to stabalize.Then you will see as the country shows an incline their will be a huge amount of changes.
Remember also Las Vegas's good months are comming so they have been re-arranging their bottomlines to reflect more profits and extending their debt term helps keep cash availble after the good months.
They are like juggling clowns and while they do all this the employee and the consumer visiting Vegas gets the shaft,Due to poor service the worst thing that happened to Vegas is when corperations took over.Oh yes they built big beautiful resorts but at the sametime destroyed the Las Vegas reputation of caring about the guest who comes to see and visit.These guys are really just ding dongs that got a lucky gig recieving a huge salery and have no clue what they are doing when it comes to employee relation and guest relation.
Oh yes when is Goofy comming to Vegas to operate MGM
That's right he is already here.He juiced in Mickey
The Kansas City Star-Times and the Kansas Star Farmer was the pup that gave Walt his star on the Hollywood Walk. If Disney acquired Capital Cities Media while Mr. Peter Murphy was then CEO there isn't any great deal now for Mr. Murphy to acquire for Harrah's. Harrah's has acquired the WagonWheel Casino at Stateline, NV., where Marilyn Maye starred in the Lounge, Mr. Las Vegas, and Mr. Lionel Hampton. The glass elevator on the outside of the Wheel was the first glass elevator in the State of Nevada and took the guests to the Top of the Wheel in a state of luxury. Harrah's acquired the Wheel and demolished the entire building to build something that encouraged more development on the South Shore of Lake Tahoe. So maybe Harrah's can acquire some more Vegas property and demolish some more of the strip buildings that probably needed to be demolished to make room for better, improved hotels and casinos.
Just think the idiot thinks he can change the name and ppl will forget all about the things they've done!
They should be sent to China....
They know how to deal with these criminals....
Another idea is why not let the regular BS employees do a LEGITIMITE (not the corrupt process management uses) to rate these guys to see if they can keep their jobs...