Word: xanadu
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...Xanadu is the epic discretionary story," says Davidowitz. "It's the epicenter of 'not needed.' How can you have this when the consumer is completely decimated? It's already one of the world's biggest nightmares...
...Naturally, executives for Xanadu, which has been beset by prior delays and cost overruns, offer a different spin. "It's not like people aren't looking to recreate," says Larry Siegel, president of Xanadu. "They are. But people may not be able to rent that house on the beach or pay a few hundred bucks for a three-day pass at Disney. But they can come here and spend $100. If people spend the time here, they're going to spend the money." (See what businesses are doing well despite the recession...
...Although Xanadu doesn't have a pretty face, it's what's inside that counts for a mall. And if Xanadu can corral enough retailers to sign on for a grand opening, it has the potential to at least survive the downturn. If all goes according to plan, the mall could spice up the shopping experience, which would be a welcome change in this depressed retail environment. For example, a huge video screen in the sports area will broadcast games, which could draw shopping-averse men to the mall. The Children's Science Center, Legoland Discovery Center and Wannado City...
...Another advantage: the huge, diverse New York City metro area hasn't been hit quite as hard by the recession as the rest of the country has. Housing prices are dipping, but not collapsing like in other places. New York malls have held up relatively well. Xanadu's location, amid the confluence of some of the country's most congested road arteries, should also help. Surely a few curious drivers will want to check out the mega-mall. Plus, the state has built a rail line to the site; it's now just a 23-min. ride to Xanadu from...
...Xanadu's president insists the mall is the real deal. "For people driving by who don't like how the front of it looks, please, give yourself a chance to understand the whole package," Siegel says. That would be a reasonable request from any mall developer. Unfortunately, it was reasonable back in 2006. Forget about paradise, Xanadu. Just try to stay out of hell...