Morris Bailey and Dennis Gomes are paying $35 million for Resorts Atlantic City, at a time when gambling revenue is declining and customers are being siphoned off to Pennsylvania venues.

The Dutch company's expansion has yielded disappointing results due to the weak economy, competition and the difficulties of exporting Western shopping concepts to a country steeped in different traditions.

The bank is selling its mortgage on the Viceroy Anguilla to Starwood Capital Group at a hefty discount, the latest example of capitulation by a bank that has nursed a troubled real-estate project for years.

A Jacksonville hotel missed paying its mortgage despite $5 million in help from the Hyatt chain.

Henderson Land Development's underlying first-half net profit fell 37% due to losses stemming from the cancellation of some property sales.

Shares of luxury builder Toll Brothers climbed following a surprise fiscal third-quarter profit, its first in nearly three years, as revenue fell far less than analysts expected.

Omni Hotels & Resorts plans to expand the Amelia Island Plantation by more than 100 rooms after prevailing in an auction this week to buy the bankrupt oceanfront resort in northeast Florida.

Like homeowners walking away from mortgaged houses, some large commercial property owners are defaulting on debts and surrendering to lenders buildings worth less than their loans.

The aviation and energy industries boosted Houston during the downturn, but the events of the last six months have injected a new uncertainty into the city's economy—and, by extension, the office market.

In pot-World War II years Cumberland County’s population exploded , with its 43% increase in the 1960s the largest in any of North Carolina’s 100 counties. Construction was fast-paced as shopping developments and suburban subdivisions began to spread outside the Fayetteville city limits toward Pope Air Force Base and Fort Bragg . The Fayetteville and Cumberland County school systems moved toward integration gradually beginning in the early ’60s and bussing brought about large-scale student integration in the 1970s.

 The end to whites-only service at restaraunts and segragated seating in theaters was set into motion from Civil Rights Marchs and sit-ins with students from Fayetteville State Teachers College (now Fayetteville State University) . Politics changed. Blacks and women gained office in significant numbers, from the late 1960s and on into the early ’80s.

 

The Vietnam Era was a time of change in the Fayetteville area. Fort Bragg did not send many large units to Vietnam, but more than 200,000 soldiers trained at the post before leaving for war between 1966-1970 . The effect of such a large troop rotation was dramatic and remnants of this era are still visible in much of Fayetteville. Anti-war protests in Fayetteville drew national attention because of the proximity to Fort Bragg, in a city that generally supported the war. Jane Fonda came to Fayetteville to participate in3 anti-war events. Because of these changes in the 1960s and 70s, nicknames like “Fayettenam” caught on and are still in popular use today. Fayetteville also made headlines at this time after Army doctor Jeffrey R. MacDonald murdered his pregnant wife and two daughters in their Ft. Bragg home in 1970.

Through various downtown revitalization projects, Fayetteville has attempted to reverse the image of it’s downtown area , with mixed results. New additions, such as the Airborne & Special Operations Museum, The Fayetteville Area Transportation Museum , Fayetteville Linear Park, and Fayetteville Festival Park , which opened in late 2006, have all contributed somewhat to the changing downtown area. The city still has a very high crime rate.

Due to a lack of central entertainment & amusement areas for youth, There has been word that an Amusement & family fun complex will be opened in the area. This centre is reportedly to be built in midtown Fayetteville by Capitol Studio, Group, Inc. A local conglomerate company. The Fayetteville observer reports that this complex is planned to be quote: “indoor theme park, an arcade , water park, mini shopping mall , And Food Center that will include race track, laser tag & paint ball ” This complex will add to the development of the downtown area since 2000.

The towns and rural areas surrounding Fayetteville have experienced rapid growth over the past decade . This growth has spilled over into suburbs such as Hope Mills, Raeford and Spring Lake.

In recent years the western part of Cumberland County was annexed into Fayetteville .

  

Recently, Where To Retire magazine named Fayetteville one of the best places to retire.

In 2005 Congress mandated that due to the BRAC (Base Realignment and Closure) effort Fort Bragg would gain several new commands. The Army will be closing down United States Forces Command and the United States Reserve Command in Atlanta and moving them to Fort Bragg. This move is expected to relocate over 30,000 people to the area as a result of the command changes and businesses that will move to support the command. FORSCOM awards over $300 billion in contracts annually.

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