Word: bigs
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Dates: during 2000-2009
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...big recession surprises...
Just as Americans did with their houses, casino owners borrowed way too much money to build hotels that were way too big. Economists like Yale's Robert Shiller have warned that the next big wave of failures in the U.S. recession will be in commercial real estate - and once again, Las Vegas is headlining. Even worse, the bottom fell out as casino owners were building, so a number of them couldn't replace construction loans with the financing that was once readily available to complete and open hotel-condo-casino projects. Deutsche Bank foreclosed on the $3.9 billion Cosmopolitan Hotel...
...quarter of its monthly revenues, into the project. MGM sold off Treasure Island at a bargain price: Phil Ruffin, the buyer, paid the equivalent of $225,000 for each room on the property; CityCenter's rooms cost about $1.5 million each to build. Even if CityCenter is a big success and people want urban density as a part of their Vegas experience, experts like Bill Lerner, a gaming analyst at Union Gaming Group, figure it will be five to 10 years before Vegas needs more than the 150,000 or so hotel rooms it will have when CityCenter...
...down from there. I didn't cry one moment." When his wife asked him to cut back on expenses, he dismissed the suggestion, telling her he still had more money than they could ever spend. Eventually he capitulated: whenever possible, he uses his small private jet instead of his big one. (See 25 people to blame for the financial crisis...
...Stars and Stripes Forever." Obama stepped off the stage and worked the crowd, shaking hands and smiling as people snapped photos with cameras and cell phones. The First Family then boarded the green Marine One helicopter and headed southwest 60 miles, into the mountains, to land at the Big Sky Resort, the luxury ski and vacation-home development founded by a native son, broadcaster Chet Huntley, nearly 40 years ago. From Big Sky, the First Family will visit Yellowstone National Park before flying off on Air Force One Saturday afternoon to Grand Junction...