Marriot President: “Our Stock is Remarkably Cheap”

In a CNBC interview, the COO of Marriot (Arne Sorenson), ticker MAR, when asked about the economy  said  he was “seeing no signs of weakness in the US.” He furthered the numbers do not suggest recession. When asked about the company buyback program he said  “let’s not be so arrogant as to assume we know where the economy is going. But we can look at the valuation the market is putting on our stock and we think it’s remarkably cheap.”