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Hotel Wire

At the junction between the North and South Forks, the quiet town of Calverton has changed its mind about the development of a 750-acre resort, complete with a 35-story indoor ski mountain. Besides the obvious reasons, why did town officials ax the $2.2 billion project? Because the developers (who are from Scotland!) missed a $3.9 million payment. The developers are pretty bummed about losing $25 million in start-up funding, but this has to be a major win for preservations and outdoor skiing overall. [WSJ]