Word: farms
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Dates: during 1970-1979
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Harbor View Farm near Ocala, Fla., into a world-class racing stable. A half dozen years after its birth in 1958, Harbor View be came racing's second top money-winning stable (after Wheatley), but the purses dried up with Wolfson's conviction. Reason: some states will not renew the racing license of anyone convicted of a serious crime. Wolfson felt that his crime was not sufficiently serious, but after a friendly New York racing-board member warned him that his 1969 application would be rejected, Wolfson chose not to apply. He stayed out of racing until...
...concentrate on racing, which now takes up about 80% of his time, Wolfson has virtually dismantled his corporate empire, once estimated at being worth close to $100 million. The Wolfsons sold Harbor View Farm last year, but kept the name and now own some 250 horses. Despite their success on the track, expenses are so high ($3 million a year) that the Wolfsons have not always been in the black during the past few years. Affirmed has solved that problem. Some of the Wolfsons' horses are kept in Kentucky, where Louis is respected as a smart and honest...
...Wolfsons divide their time among their Clermont Farm near Saratoga Springs, New York, a house on Long Island, a condominium in Bal Harbour, Fla., and wherever their horses are running. They are becoming familiar to the racing public as a strikingly handsome couple who like to hold hands and gaze lovingly at each other. Louis keeps his weight down by eating cottage-cheese-and-peaches lunches and doing 15 minutes of calisthenics a day. Patrice has given up her painting under the pressures of racing and of managing the various Wolfson households. "I'm busy being a housewife...
...building of the nation's canals and railroads in the 19th century has the U.S. displayed a more magnetic attraction to overseas investors. Foreign money from almost everywhere is flooding into co-op apartments in Manhattan and Miami condominiums, sprawling petrochemical complexes in Houston and quaint dairy farms in Vermont, suburban shopping centers and downtown office buildings and hotels. Capital from overseas is financing the construction of new factories in every region and the takeover of old-line U.S. corporations of every description. The money is going into farm land, ranch land and waterfront resort communities...
...farmers, who have a visceral attachment to the land. They are torn by conflicting feelings about foreigners who offer premium prices for their acreage. Farmers often sell out, only to wind up leasing the property back from the new, absentee owners and working for them as tenant farmers. When farm children grow up, they must sometimes seek other occupations, because land prices are so high that they cannot afford the life their parents led. Complains Vernon Conrad, vice president of California's Fresno County farm bureau: "Buying by outsiders is taking away the family-based farming communities that have...