Word: rurality
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...profitability and size of Indian casinos have grown, so has friction between the gaming ventures and surrounding communities. Last summer tensions between the Rumsey Band of Wintun Indians and its neighbors in the rural Northern California Capay Valley erupted into a bitter war of words when the tribe announced plans to double the size of its hillside gaming business. Highway 16, the narrow, serpentine road that winds past the Cache Creek Indian Bingo and Casino on its way into the tiny hamlet of Brooks, is already congested from round-the-clock traffic to the casino. In 2001, traffic to Cache...
...Lott vowed to "fight against the ever increasing efforts of the so-called liberals to concentrate more power in the government in Washington." But as Lott entrenched himself in Congress, his votes helped expand federal spending, borrowing and police powers. He supported expanded outlays for the military, farm subsidies, rural public-works projects, Social Security and Medicare. The main federal activities he opposed were taxes, programs aimed at helping the poor and civil rights laws...
...acquisition? That's what France's Crédit Agricole did in its recent bid to acquire rival Crédit Lyonnais, to create one of Europe's Top 10 banks, with more than €330 billion in assets under management. Crédit Agricole, a network of mostly rural savings banks, was for almost two years the preferred candidate to take over the government's 10.9% stake in Crédit Lyonnais. But talks bogged down. In November, when Agricole ceo Jean Laurent (pictured) tried to haggle the government's final offer of €44 per share down...
...year-old Chinese-Malaysian businessman who bankrolled Foxwoods in northeastern Connecticut. Foxwoods, the country's largest gaming venue, is actually a constellation of five casinos about 10 miles down the road from the Mohegan Sun. On an average day, 40,000 people pass through what was a quiet, mostly rural patch of New England...
When gambling was first proposed as a tool for Indian economic development, it was expected that casinos would be confined largely to rural reservations where impoverished tribes had lived for generations. But as with any transaction involving real estate, it's all about location, location, location. Casinos on reservations near urban areas, with a ready supply of would-be gamblers, have tended to do well. The more remote ones, not surprisingly, have foundered. The result: a mad scramble by tribes and their non-Indian financial partners to find prime real estate that they can claim as "reservation" land--and then...