Word: boomer
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Dates: during 1970-1979
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...Yankee Boomer. Few living photographers have exposed themselves or their film to such a range of coups, revolts, massacres and civil wars. The man is an anthology of risk (the Yankee boomer from the Midwest, living out his own adventure yarn), and the egotism is as extreme as the bravery. Only Duncan, one feels, could have written a preface to one of his own books, Picasso's Picassos, calling it "the most exciting and valuable book in modern art today...
...Prudhoe Bay. Reserves were initially estimated at 10 billion barrels, but are now figured to be 15 billion, fully one-third of the nation's total. In the race to begin drilling, supplies were airlifted round the clock by huge Hercules "stretch" freighters from Fairbanks. Adding to the "boomer" spirit, ARCO, Humble and British Petroleum announced plans to spend $900 million to build a 789-mile pipeline from the North Slope to Valdez. In a frenzy of competition, oilmen bought leases for $900 million-enough to cover all state expenditures at the 1968 rate for 41 years. Delirious Alaskans...
...Payoff Zero. Meanwhile, the boomer spirit has given way to despair. Near Anchorage, construction of the new Forum Hotel has halted. At the Anchorage airport, the Red Dodge Aviation Co. has abandoned its partially finished $2,000,000 freight terminal and has filed for reorganization under the bankruptcy law. Interior Airlines has also gone to court to stave off creditors. Alaska Airlines is in dire financial straits, as are several construction companies. Many corporations have overextended themselves. Bankers have begun to dry up financial pipelines that were once easily accessible to entrepreneurs. The Alaskan unemployment rate is 13.8%. The state...