Word: aspenization
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...prospector who mined this lode was eupeptic Walter P. Paepcke (pronounced pepkey), founder and board chairman of Container Corp. of America. He first saw Aspen about a year and a half ago, on a skiing expedition from his Colorado dude ranch. The dilapidated houses, barns and chicken coops-remains of a town that once had 16 hotels, an opera house and three theaters-were depressing. But the breathtaking scenery made Mr. Paepcke, a deep-breathing man of many ideas, take a deep breath...
...thought of rebuilding the whole town. But the more he looked at the buildings, the more their quaint, ghostly flavor got him. Result: when he hired Designer Herbert Bayer as architect, Mr. Paepcke (who is the principal backer of Chicago's arty Institute of Design) gave orders that Aspen's once-Gay Nineties atmosphere was to be preserved to the last piece of gingerbread...
Bayer, who bought an Aspen house himself and promptly settled in it, followed orders. In refurbishing the Jerome Hotel, he kept the water-powered elevator, run by ropes pulled by the passengers. While blonde & beautiful Mrs. Paepcke hunted Victorian furniture in Chicago, dormitories, 20 guest houses and a sundeck were built, the ski slopes were cleared, a movie house, roller rink and art gallery were constructed. Paepcke imported a chef from Switzerland, a wine expert from Chicago. Ski instructors, plumbers and mechanics trooped in. Overnight, the moribund little town became the liveliest spot in Colorado...
...were paid by Paepcke. During the first week of business, the gross return on this investment was about $2,500 a day (hotel rates ran from $4 to $14 without meals). With 25 lakes and 1,000 miles of trout streams within a 20-mile radius, Aspen should do equally well during the summer...
...Paepcke is not overly concerned about figures. He believes that Americans are too extreme both at work and at play. At Aspen he would like to create a symbol of balance. To do so he plans to promote industries in Aspen that will make woodwork out of native aspen, jewelry out of native silver, clothes out of mountain sheep's wool, cheese from the milk of local cattle. It will be no accident, however, if Paepcke, whose Container Corp. does some $75,000,000 worth of business a year, also turns Aspen into a tidy profit...