Mini-Case 17-3: the Pride of Vicksburg

question 17

Essay

Mini-Case 17-3: The Pride of Vicksburg
Wallace Fry had been a lover of good food from the time he was a child. The only son of wealthy Southern parents, he spent hours with his mother watching her prepare meals for the family and friends. By the time Wallace was in high school, he had already won a number of awards for his original recipes. After leaving Vicksburg, Mississippi, to attend college in the Midwest, Wallace returned home to what must have been an unbelievable graduation present. His relatives purchased an old paddlewheel riverboat and had begun initial preparations to have it moored permanently at the foot of the Vicksburg landing on the Mississippi River. Wallace was presented with a 50 percent interest in the restaurant named "The Pride of Vicksburg."
The complete renovations and restoration of the beautiful old riverboat took an additional four months. Wallace was planning to have his new restaurant open for the spring tourist season. A number of regional magazines had already run feature stories on the project. With the opening one month away, Wallace decided it was time to staff the restaurant.
-What would be the most effective way to recruit personnel for this type of business?

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Definitions:

Diminishing-Balance Method

A method of accelerated depreciation where an asset loses value by a fixed percentage each year over its useful life.

Constant Percentage

A fixed rate applied over time or across instances, often used in calculation methods or financial formulas.