Word: boomtown
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Dates: during 2000-2009
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...terms of geography, Houston may be a city in the Old South, but its personality is a mix of Western frontier and Third World boomtown: dynamic, diverse, a place to make a fortune and lose one. Only 40% of greater Houston area residents live inside the Loop, the freeway that defines Houston's city limits, and only 1 million of the city's 2.2 million residents are registered voters. Many are immigrants who cannot vote. The key to winning any Houston mayoral race is coalition-building, and Parker's political career has been deliberate, "low risk" and "canny," according...
...markets. Gaming revenues sank and casinos laid off staff. Sheldon Adelson, chairman of casino operator Las Vegas Sands, was forced to halt his $12 billion plan to build an Asian version of the Las Vegas Strip on a stretch of reclaimed land called Cotai due to financing woes. The boomtown went bust...
...lead the G8? Where is your credibility?” the former lead singer of the Boomtown Rats asked Berlusconi in a face-to-face exchange published in Sunday’s edition of Italian newspaper La Stampa (the issue was co-edited by Geldof). Like a chastised school boy, Berlusconi clenched his fists and apologized, promising to do better next time...
Coca itself evokes an American western boomtown, with the equivalent of saloons and other entertainment for the Halliburton or Texaco employee looking to blow off steam. Across from the canoe dock stands a large military casino, funded by—no surprise—oil. A large amount of oil revenue (the local guides claim 40 percent) is funneled directly into Ecuador’s large military...
...That outlook looks less rosy, of course, since the global economic crash and collapse of the region's oil revenues. Although tourism and property developers are still planning massive new projects, there are signs of a shakeout in Dubai's boomtown housing values, with some analysts expecting up to a 20% decline in the next three years. The combined debt of Dubai's government and public-sector companies has escalated to the point where some analysts say the city-state Dubai might one day need a bailout from its super-rich sister emirate Abu Dhabi, which has more than...