Word: rio
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...sell desert plots to about 45,000 people for a total of more than $200 million. AMREP's initial investment for the parched land was about $17.8 million. To hype the value of the property, the indictment charges, the company added some showcase improvements in a development called Rio Rancho, which is in fact only a small part of AMREP's 96,000-acre Rio Rancho subdivision. Most of the outlying lots -with no water, sewers or electricity and little chance of ever getting any -are too far away to benefit from the construction of the core community...
...AMREP unload the real estate? A key tactic was to get crowds of potential buyers together for free drinks and dinner at hotel ballrooms and restaurants. There, a smooth-talking speaker would mount the podium to describe various Rio Rancho plots. As he spoke, salesmen at the tables would jump up, shouting "Hold!" as if they had just sold the lot he was talking about. Their enthusiasm would be contagious, and since the land contracts were right there on the tables, guests would impulsively sign on the dotted line. In so doing, they committed themselves to purchases ranging from...
AMREP promotions recited an enticing litany: Albuquerque was expanding in the direction of Rio Rancho; land values in surrounding Sandoval County were rising at an astonishing pace; there was a hyperactive market for resale; AMREP was letting the land go at such low prices because of its "low markup, high-volume policy"; all the lots were part of a "master-planned community"; and utilities were available to anyone who wanted to build. The indictment charges that each of these claims was criminally misleading...
...Jimmy's and Le Regine. In Monte Carlo, the snob spots for drinking and dancing are the Maona (Tahitian), Para-dize (Brazilian) and New Jimmyz (art deco). The woman who manages all this, sometime Singer Regine (nee Zylberberg), 45, now plans new discothèques in Rio and Manhattan. "Life begins with the first cocktail," says the lady who introduced le twist to Paris. "She only sleeps three hours a night," adds her husband and former secretary, Roger Choukroun. The cabaret queen is also branching out into fashion design. Her first collection, introduced at a Paris ready-to-wear...
...hopes that the country will still be there when he gets up in the morning. The most popular rallying cry of last week's many demonstrations was one that was chanted by 40,000 Portuguese at a pro-government demonstration organized by Socialist Party Leader Mário Scares: "Discipline! Discipline! Discipline!" As yet. unfortunately, the Pinheiro de Azevedo regime has not shown that it can fulfill that mandate...