Word: sunbelt
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...makers of silicon chips used in electronic microcircuitry. These new rich seem to have gravitated to technological enclaves like Southern California's Silicon Valley and Massachusetts' Route 128. Some entrepreneurs in less advanced fields achieved instant millionaire status by selling out to larger firms and moving to Sunbelt states to enjoy their riches. Skilled professionals in fields such as neurosurgery and the law now make enough in fees to enable them to enter the millionaire class rather rapidly. In addition, top corporate executives are fairly often able to pile up a seven-figure net worth over the years...
Dismissing New York's problems with a wringing of hands and perfunctory laments about federal support of the Sunbelt the flight of the middle class to the suburbs, and the greediness of banks and unions, achieves nothing, but Auletta notes that New Yorkers have been offered little more. He says to blame "historical and economic forces, everything and everybody, is to blame nobody. We run the risk of learning nothing from what happened to New York. So Auletta looks at each party's involvement in the collapse and outlines specifically how each is responsible...
...most of all, it was a name made for a Southern football legend, the right name for the coach of Alabama. During the years before the South became the Sunbelt, football was its way of showing off to the nation, a source of deep, almost xenophobic pride. The conversation on the church steps Sunday mornings was an autumn ritual across the South. The Georgia people would crow, while Tennessee fans sulked and the interlopers from Florida had to listen to the abuse of the Auburn backers. The only time everyone agreed on anything was when one of "our teams" beat...
Houston, rising Sunbelt center, registered 340 conventions, 630,000 delegates, $166 million. Attractions: 30,000 hotel rooms, 1.3 million sq. ft. exhibition space, Astrodome, shopping...
...glue in the works is that control of most pension funds resides with the bankers and bromkers, the corporate management fiduciaries--the same individuals who opt for expanding investments in the Sunbelt, in Taiwan, in South Africa, and the desertion of the northeastern and central states. These managers claim their pattern of investment is necessary to produce the highest return, so that future retirees are guaranteed pensions. In boththe shourt and long-term, however, this profit motive works to the disadvantage of the beneficiaries of the funds...