Word: resorting
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When the ski boom hit in the late 1960s, Aspen quickly emerged as its glamorous headquarters. Tourists flocked to the old Colorado silver-mining town turned winter resort, lured by the 11,300-ft. Aspen Mountain, the classy lodges and chic crowds. Its glittery, fast-lane image later included pricy real estate and such open cocaine use that it acquired the nickname "Toot City." Artists, ski bums and a coterie of rich and famous, including Actor Jack Nicholson and Troubadour John Denver, settled in what Denver dubbed "the sweet Rocky Mountain paradise." Now, as the ski craze cools and recession...
...their town, even looks a bit bedraggled. Compared with accommodations in Vail, which now attracts more business, Aspen's once premier lodges seem cramped and aging. Says Boutique Owner Rita St. John: "People are paying $200 a night and getting a dump." There is no first-class resort hotel. Zoning and building limitations passed when the town was thriving have hobbled renovation and expansion efforts...
Having lived much of his adult life in Asia, Kirkwood wanted badly to send his five children to school back in Eastern Pennsylvania, in the Pocono Mountain region where he was born. Returning to the United States in 1974, he and his wife Ginny purchased an old resort hotel in the area, restoring the neglected building to its historic g1randeur. The inn had a large theatre in the back, and before long Kirkwood had reopened it as the Shawnee Playhouse, which has hosted as many as 14 musicals in the last two seasons. Kirkwood produces all the shows locally...
...Federal Reserve is the "lender of last resort" and will "create the liquidity to save the system." What that means is that Americans, through taxation and inflation, will have to pay to save a group of greedy bankers and irresponsible governments, including...
...missiles launched from nuclear submarines. These weapons constituted the U.S.'s central, or strategic, arsenal?the triad. Then one of West Germany's brightest up-and-coming defense intellectuals and politicians, Helmut Schmidt, argued strenuously in the Bundestag that America's own deterrent of last resort constituted a nuclear umbrella of "extended deterrence" for Western Europe, sheltering NATO's first lines of defense on and around the Continent...