Global Meltdown Hits Livingston Manor, NY

Home of the Catskill Fly Fishing Center and Museum and the Trout Parade, Livingston Manor’s biggest threat in the past was the occasional flood. But a town that always struggles to make ends meet didn’t count on a Dubai-based investor failing to make mortgage payments on some key downtown buildings — a clear sign that his plans to turn the town into a trout-fisher’s Woodstock are going up in smoke. “In 2005, Mr. Krieger, who has a home in the area, announced plans for an $80 million resort hotel/spa and hundreds of homes on 500 acres. He said his plans still included a modest housing project for senior citizens and a world-class spa. But first he has to keep what he owns downtown.” Peter Applebome in The New York Times.