Word: marketization
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Dates: during 1990-1999
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...dose up with a burst of energy late in the workday--to help, as PowerBar says, with "life's daily marathons." But as they enter the mainstream, many are dropping the ascetic rubber-brick ethos in favor of more savory--and fat-laden--formulas that appeal to a wider market...
...Woodbury approached the story from a business perspective, examining the city's need to attract new visitors. "Every couple of years, Vegas has to come up with something new to remain profitable," Booth says. "Now they're going after the high-end traveler, the baby boomers. This is a market that's never been tapped. They're importing the best shopping, the best hotels and the best chefs." For those still pining for nickel slots and a cheap place to crash, Booth offers this advice: "Say goodbye to little rooms and all-you-can-eat buffets. Vegas is going upscale...
Economic meltdown in Asia, collapsing hedge funds in Connecticut, mass layoffs at the brokerage houses, a falling market for expensive cigars and Ferraris--yet there goes the Bellagio, sailing into the teeth of the gathering global gale, with 3,000 of the highest-priced rooms in Vegas and something like $300 million worth of works of art nailed to its mast. All bought, over a little more than two years, by Stephen A. Wynn, 56, who had never collected anything except casino real estate and golf courses before--and who is, moreover, gradually losing his sight to retinitis pigmentosa...
...began, like most neophyte collectors who have a bundle to spend, with the easy, lovable stuff: Impressionism, and specifically Renoir. But rather than dive in at the deep end of the art market on his own--a certain prelude to drowning--Wynn found himself a guide in William Acquavella, 60, a closemouthed and formidably well-connected New York private dealer whose stockroom is one of the best in the U.S. Acquavella impressed on Wynn that in the art market, there are no bargains: he would have to pay top dollar for top works. The big test of this came with...
...Gamblers spend an average of only four hours a day in the casinos, after all.) Gamblers who used to make an average of 11 trips to Las Vegas over a five-year period now make only seven. So the city of "Lost Wages" is repositioning itself in the leisure market. "We're no longer a gaming resort but a destination resort," says Chamber of Commerce senior vice president Kara Kelley...