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IAC/InterActiveCorp Q2 2006 Earnings Conference Call Transcript ...
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the IAC Interactive Corp.'s second quarter 2006 earnings conference call. At this time, all participants are in a listen-only mode. Following today's presentation, instructions will be given for the question-and-answer session.
(Operator Instructions)
As a reminder, this conference is being recorded today, Tuesday, the 1st of August, 2006. I would now like to turn the conference over to Mr. Tom McInerney, Executive Vice President and Chief Financial Officer. Please go ahead.
Thomas J. McInerney
Thank you, and good morning. Joining me on this call is Doug Lebda, President and COO, and Barry Diller, Chairman and CEO. As you know, we may during this call discuss our outlook for future performance.
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Tall Emerging as Sprawl Alternative
The drawings show sleek 10-story towers rising dramatically from the flat desert floor of Indio, giving residents spectacular views of the surrounding mountains. The shops, restaurants and walking paths below are filled with people.
They are now only architectural renderings. But developers and officials from several Inland cities say they have little doubt that the nine condominium towers proposed for Indio will eventually be followed by similar projects in the Inland area. San Bernardino is already courting high-rise housing for its downtown, and Riverside and Ontario officials say they would welcome it.
As desirable land dwindles and becomes more expensive, Inland cities will be forced to build up rather than out, experts say. That would transform a region known for suburban sprawl, not urban living.