Word: builded
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...turn out of my hotel's full parking lot, veering onto the Strip, I come across something rarely seen in Vegas: frozen construction projects. I pass cranes abandoned at the site of the Echelon, a huge, multibillion-dollar project of four hotels that is now just three buildings of nine floors of concrete and steel beams sitting idly on some of the most expensive real estate in the country. I pass three more abandoned sites - 63 empty steel floors of the Fontainebleau, a sad unfinished shell that was supposed to be Caesars Palace's Octavius Tower and two cranes halted...
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...
...that the average Japanese [person has], thereby stimulating personal spending. For example, it intends to cut the gasoline tax and eliminate tolls on all roads. They are going to pump money into the Japanese consumer, whereas the LDP's policy of stimulation, as a cynic would say, was to build bridges to nowhere. They'd create these big industrial-development projects, which really haven't worked and haven't turned the economy around...
...other social network. It's a lot easier to go along with the crowd. Every now and then there's a revolution in science, a paradigm shift, like when Einstein came along, but it's so easy to lock people into a particular way of thinking, of trying to build on the ideas that are in vogue. In the end, there is almost a fashion in science - ideas that are in, ideas that...
...first half of the 20th century, both Hitler's Nazis and Stalin's Soviets used forced labor to build up their infrastructure. From 1918 to 1956, between 15 million and 30 million people are estimated to have died from exhaustion, illness and malnutrition after toiling in the notorious Soviet gulag in 14-hour days felling trees, digging in the frigid Siberian tundra or mining coal. Often the labor was as fruitless as the punishments devised by the British. In the early 1930s, more than 100,000 prisoners toiled to construct a canal between the White and Baltic seas - which turned...