Word: palming
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Dates: during 1950-1959
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...what did Frankie do while the wine of fame was flowing free? He bought a $250,000 home in Holmsby Hills, then a place in Palm Springs, for $162,000. He gave away gold Dunhill lighters ($250 apiece) by the gross. He threw champagne parties day after day. And night after night, there were the women. When Frankie came back to his hotel he almost always found some mixed-up youngster hiding under his bed or in the closet; sometimes it was not a girl but a grown-up woman. One night a well-known society belle walked...
...life will live it up in royal style, all on the house. It is quite a house: suites will rent for as much as $65 a night; each of the 450 rooms has air conditioning, TV, and imported marble baths. Outside the hotel is a 50-by-90-ft., palm-shaded swimming pool; inside, the hotel has a Bali Room restaurant and nightclub, where everything from walls to waiters is tricked out in Balinese decor; a Nordic Room studded with 25,000 pearl-like shells, a Versailles Room for private banquets, where a fountain can be made to spray champagne...
...most recent action proving her words is the purchase of Palm Springs' $2,000,000 Desert Inn (TIME, July 25). She believes that "Palm Springs is growing like Florida grew, is ripe for ... development," expects to build "a miniature Rockefeller Center" around the inn that will include small department stores, a theater, possibly a nightclub...
...Hollywood, oldtime Cinemactress Marion Davies revealed that she has bought the famed Desert Inn in Palm Springs, Calif, for $2,000,000, expects to spend a lot more for renovations and expansions: "I plan to develop it into a miniature Rockefeller Center...
...Sonnabend-led syndicate bought four hotels in the Palm Beach area for $2,400,000. Within a year he got nearly all his investment back by selling only one of the hotels (the Palm Beach Biltmore) for $2,000,000. By 1948 he was ready to head the syndicate which bought Chicago's Edgewater Beach Hotel for $6,000,000. (The hotel will be an early addition to the new Hotel Corp.) In 1950, moving on to bigger and better things, Sonnabend's syndicate paid Railroader Robert R. Young (TIME...