Q.: What type of enterprise do Chrysler Corp., CNA Financial, Fibreboard, Walt Disney Productions, International Paper, LTV Aerospace and Signal Oil all have in common?
A.: Development of recreational real estate.
There is a lemming-like quality to today's corporate captivation with large-scale ventures in leisure-time communities. Scores of prominent, publicly held companies have leaped into the risky business, investing more than $700 million in the hope of big, though perhaps slow, profits. Few have become so extensively involved as Boise Cascade Corp., which has 29 recreation projects spread from Hawaii to New Hampshire. The company's chiefs, much to their surprise and...
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