Word: nantucket
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Dates: during 1960-1969
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Where did some of the angry natives so resent a local benefactor that they wore buttons proclaiming "No Man Is an Island"? See BUSINESS, Trading Up Nantucket...
...long after Ahab navigated the Pequod out of Nantucket, Mass., in search of Moby Dick, the economy of the small island off Cape Cod began to stagnate. With the whalers gone, the population dropped from 17,000 to 3,500 and construction stopped altogether, so that today 60% of the houses predate 1840, and only the scallop industry survives, grossing about $200,000 a year...
Tourism is another matter. Nantucket has become a favorite summer resort and tourist attraction. The population jumps to 16,000 in July and August; last summer 200,000 sightseers overran its quaint cobblestone streets and lolled on its beaches. Salty natives sneer that one-day visitors "come with a five-dollar bill and a dirty shirt and change neither." Nevertheless, local businessmen gladly pocket the $20 million a year spent annually on bus trips, postcards and clam chowder. In fact, the tourist trade is growing so rapidly that many "off-islanders," the regular summer residents, are concerned lest their historic...
Walter Beinecke Jr., 50, heir to a sizable chunk of his family's Sperry & Hutchison Green Stamp fortune and a successful real estate developer and cattle rancher in his own right, thinks he has a solution for old Nantucket's people problems. Beinecke's idea is to "trade up" the island by finding fewer people who will spend more money. "Instead of selling six postcards and two hot dogs," he says, "you have to sell a hotel room and a couple of sports coats...
...first four-year students--Caleb Cheeshahteaumuck and Joel Iacoomis (both class of 1665)--died before they could carry their Harvard education to the pulpit. A few days before Commencement, Joel was killed in a ship-wreck off Nantucket in which those who escaped drowning were "murthered by some wicked Indians of that place." His classmate Caleb survived long enough to become Harvard's only Indian College graduate--but died a few months later...