Word: inns
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Dates: during 1990-1999
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Late in the 19th century, Thomas Carnegie, brother of Andrew, was snubbed as too nouveau riche by the ultra-snobby club on nearby Jekyll Island. So he bought the southern end of Cumberland and built several mansions. One of them, Greyfield, was turned into an inn by some of Carnegie's descendants. Oliver and Mary Jo Ferguson, the husband and wife who operate Greyfield, are old friends of the Kennedys', and John and Carolyn had visited them several times. The rehearsal dinner and reception were held at the inn, a great rectangular frame house surrounded by oaks, and several...
Klein now says that throughout that weekend he was actually "in agony." When I pointed out that he appeared quite happy as he ate dinner with me and some others at the Bedford Inn, he said, "Well, I've learned that I'm quite a good actor. Anyway, that piece was insulting, inaccurate and ridiculous." But wasn't it also right? "At the time I was caught between two ethical systems: that of Anonymous and his commitment to the book, and that of a journalist. I was Anonymous then...
Cronkhite ascended to the Children's Hospital presidency in 1962. During his term, he significantly expanded the hospital, adding an ambulatory care center and an adjacent Inn at Children's for patients undergoing diagnostic testing and families of long-term patients...
...Bollenbach's forte. In 1993 he fashioned an elegant solution to quite a different problem: saving Marriott Corp. from collapsing in debt by splitting it into two companies. In 1989, as CFO of Holiday Corp., he helped launch a subsidiary that is now the Promus Hotel Corp. (Hampton Inn, Embassy Suites), in the process selling off Holiday Inns to Bass PLC for an outrageous amount of money. He also rescued casino-hotel mogul Donald Trump from ruin. Trump was personally on the hook for $650 million before Bollenbach sprang him, an act that some of the Donald's rivals found...
Barring a major recession, the industry will break records next year, but some executives are getting nervous. There is still an overhang of loans coming due from the past building cycle, even as new money keeps pouring in. Warns Holiday Inn Worldwide chairman Bryan Langton: "Right now everybody's having a good time. We are a very seductive industry. People lose money in it, and they still come back. As sure as day follows night, the next five years will experience a down cycle...