Starwood 2005 Annual Report Download - page 13

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Regulations of the Nevada Commission also prohibit certain repurchases of securities by registered
publicly traded corporations without the prior approval of the Nevada Commission. Transactions covered by
these regulations are generally aimed at discouraging repurchases of securities at a premium over market price
from certain holders of more than 3 percent of the outstanding securities of the registered publicly traded
corporation. The regulations of the Nevada Commission also require approval for a ""plan of recapitalization.''
Generally a plan of recapitalization is a plan proposed by the management of a registered publicly traded
corporation that contains recommended action in response to a proposed corporate acquisition opposed by
management of the corporation if such acquisition would require the prior approval of the Nevada
Commission.
Any person who is licensed, required to be licensed, registered, required to be registered, or is under
common control with such persons (collectively ""Licensees''), and who proposes to become involved in a
gaming operation outside the State of Nevada is required to deposit with the Nevada Board, and thereafter
maintain, a revolving fund in the amount of $10,000 to pay the expenses of investigation by the Nevada Board
of the Licensees' participation in such foreign gaming. The revolving fund is subject to an increase or decrease
in the discretion of the Nevada Commission. Once such revolving fund is established, the Licensees may
engage in gaming activities outside the State of Nevada without seeking the approval of the Nevada
Commission provided (i) such activities are lawful in the jurisdiction where they are to be conducted; and
(ii) the Licensees comply with certain reporting requirements imposed by the Nevada Act. Licensees are
subject to disciplinary action by the Nevada Commission if they (i) knowingly violate any laws of the foreign
jurisdiction pertaining to the foreign gaming operation; (ii) fail to conduct the foreign gaming operation in
accordance with the standards of honesty and integrity required of Nevada gaming operations; (iii) engage in
activities that are harmful to the State of Nevada or its ability to collect gaming taxes and fees; or, (iv) employ
a person in the foreign operation who has been denied a license or Ñnding of suitability in Nevada on the
ground of personal unsuitability. The Company owns and/or operates through various aÇliates gaming
operations at the Sheraton Lima Hotel and Towers in Lima, Peru, the Sheraton Stockholm Hotel and Towers
in Sweden, as well as the Sheraton Cairo Hotel, Towers & Casino and the Sheraton Heliopolis Hotel,
Towers & Casino in Gaza, Egypt and Cairo, Egypt, respectively.
Employees
At December 31, 2005, we employed approximately 145,000 employees at our corporate oÇces, owned
and managed hotels and vacation ownership resorts, of whom approximately 46% were employed in the United
States. At December 31, 2005, approximately 31% of the U.S.-based employees were covered by various
collective bargaining agreements providing, generally, for basic pay rates, working hours, other conditions of
employment and orderly settlement of labor disputes. Generally, labor relations have been maintained in a
normal and satisfactory manner, and management believes that our employee relations are good.
Where you can Ñnd more information
We Ñle annual, quarterly and special reports, proxy statements and other information with the
Securities & Exchange Commission (""SEC''). Our SEC Ñlings are available to the public over the Internet at
the SEC's web site at http://www.sec.gov. Our SEC Ñlings are also available on our website at
http://www.starwoodhotels.com/corporate/investor relations.html as soon as reasonably practicable after
they are Ñled with or furnished to the SEC. You may also read and copy any document we Ñle with the SEC
at its public reference rooms in Washington, D.C. Please call the SEC at (800) SEC-0330 for further
information on the public reference rooms. Our Ñlings with the SEC are also available at the New York Stock
Exchange. For more information on obtaining copies of our public Ñlings at the New York Stock Exchange,
you should call (212) 656-5060. You may also obtain a copy of our Ñlings free of charge by calling Alisa
Rosenberg, Vice President, Investor Relations at (914) 640-5214.
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