Analysts said the decree hinted that Mr. Putin was preparing for a long and grinding war, but not necessarily a large-scale draft that would mark a major escalation and perhaps prompt a domestic backlash.

“Expectations that this will end by Christmas or that this will end by next spring” are misguided, said Ruslan Pukhov, a defense analyst who runs the Center for Analysis of Strategies and Technologies, a privately-owned think tank in Moscow. “I think this will last a very long time.”

Ukraine was bolstered this week by the promise of a $3 billion military aid package from the United States. Biden administration officials said the aid was as much a message to Mr. Putin that the United States is in this for the long haul, as it was to Ukraine that America will continue to try to hold the NATO alliance together in backing Kyiv indefinitely.

Administration officials insist that President Biden is committed to helping Ukraine win, even in a war of attrition, if it comes to that. Colin H. Kahl, under secretary of defense for policy, said at a news conference this week that Mr. Putin’s assumption that he can “win the long game’’ was “yet another Russian miscalculation.”

In Russian state media, the message that Russia might be only at the start of a long and existential war against the West — now being fought, by proxy, in Ukraine — is sounding with increasing clarity. It is a sharp shift from six months ago, when Ukrainians were depicted as lacking the will to fight and eagerly awaiting Russian “liberation.”

“We will have fewer Russian tourists in Europe, but the size of the Russian army will increase by 140,000 regular servicemen,” Igor Korotchenko, the editor of a Russian military journal, said on a state television talk show. “I expect that this is just the beginning.”

While Mr. Putin may be content with a protracted standoff, President Volodymyr Zelensky of Ukraine is in some ways fighting against the clock.



What we consider before using anonymous sources. How do the sources know the information? What’s their motivation for telling us? Have they proved reliable in the past? Can we corroborate the information? Even with these questions satisfied, The Times uses anonymous sources as a last resort. The reporter and at least one editor know the identity of the source.


“The very difficult state of our economy, the constant risks of air and missile attacks and the general fatigue of the population from the difficulties of war will work against Ukraine” over time, Andriy Zagorodnyuk, a former defense minister, wrote in the Ukrainska Pravda newspaper. He said the military should be prepared to advance, rather than defend.

“It makes no sense to drag out the war for years and compete to see who will run out of resources first,” he wrote.

Stage-managed elections to justify annexation could come as early as next month, Western officials say, putting additional time pressure on Mr. Zelensky to launch an offensive.

But several military analysts say there is a disconnect between Ukrainian civilian leaders, pressing for a major victory, and military leaders who want to ensure they have sufficient troops and combat power before conducting a major offensive.

“There’s a desire to show international partners that their support will enable Ukraine to win, not just hold on,” said Jack Watling, a senior research fellow at the Royal United Services Institute in London, who just returned from Ukraine. “And there is an expectation from the Ukrainian people they’ll be able to liberate their territory.”

But he cautioned, “a military offensive needs to be based on conditions on the battlefield,” not in the political arena.

Over the last month, the Ukrainians have pivoted to the new strategy of so-called “deep war” — hitting targets far behind the front — after months of grim artillery duels and street fighting in the eastern region of Luhansk, which ultimately fell under Russian control by early July.

Using long-range, precision guided rockets provided by the United States and others, the Ukrainian military has been striking Russian weapons depots, bases, command centers and troop positions deep into occupied territory, including Crimea, the peninsula Mr. Putin seized in 2014.

Ukraine has for months been telegraphing plans for the major battle in the south; the types of weapons it has requested from Western allies and the tactics it pursues on the battlefield offering clues to its strategy.

Tellingly, a recent U.S. military assistance package included armored vehicles with mine-clearing attachments that would be used in a ground advance, suggesting preparations for the opening of what would be a new, ground attack phase of the war. Ukraine pushed back Russian forces that were in disarray in the battle for Kyiv last winter, but has yet to demonstrate it can overrun well-fortified Russian defenses.

For Mr. Putin, even a partial loss of territory as a result of a counteroffensive would represent a major embarrassment, in part because of how he has framed the stakes: Ukraine, he falsely claims, is carrying out a “genocide” of Russian speakers. Russia has failed to capture a single major population center since early July, frustrating the war’s most ardent backers.

But the Russian leader, in control of the state media and the political system, is well-situated for the moment to ignore any criticism, analysts say.

Instead, Mr. Putin insists that his forces are advancing in eastern Ukraine’s Donbas region “step by step.”

A senior Biden official, speaking on condition of anonymity to discuss confidential assessments, countered that narrative in an interview on Friday, describing the Russian advance in Donbas as so slow that “a good day for them is if they advance 500 meters.”

Though conventional wisdom has held that stringing out the war would favor Russia, it also carries risks for Mr. Putin, doing more damage to his economy and bringing more Western weaponry to bear: Despite the arrival of artillery systems from NATO members, Ukraine’s arsenal is still largely made up of Soviet-era arms.

At home in Ukraine, Mr. Zelensky has broad support for continuing the war. An opinion poll by the Razumkov Center, a policy research organization in Kyiv, released on Monday showed 92 percent of Ukrainians are confident in a military victory.

With the decision on an attack in the south looming, Mr. Zelensky has taken pains to show unity with his generals. At a news conference this week, he praised the commander, General Valeriy Zaluzhny, and denied rumors he intended to dismiss the general.

“We work as a team,” Mr. Zelensky said. Asked to assess the general’s performance, he said, “The most important assessment is we are holding on. That means the assessment is high. When we win, it will be the highest assessment.”

Andrew E. Kramer reported from Kyiv, Anton Troianovski from Berlin and Helene Cooper from Washington. Reporting was contributed by Eric Schmitt from Washington and Oleksandr Chubko from Kyiv.

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Ukraine Defies Russia With Attacks on Crimea, a ‘Holy Land’ to Putin

Credit…Denis Sinyakov for The New York Times

KYIV, Ukraine — The Crimean Peninsula dangles off Ukraine’s southern coast like a diamond, blessed with a temperate climate, expansive beaches, lush wheat fields and orchards stuffed with cherries and peaches.

It is also a critical staging ground for Russia’s invasion of Ukraine.

Connected via bridge to Russia and serving as a home to Moscow’s Black Sea Fleet, Crimea provides a vital link in the Russian military’s supply chain that supports tens of thousands of soldiers now occupying a vast swath of southern Ukraine.

For President Vladimir V. Putin, it is hallowed ground, having been declared part of Russia by Catherine the Great in 1783, helping pave the way for her empire to become a naval power. The Soviet ruler Nikita S. Khrushchev gave it to Ukraine in 1954. And because Ukraine was then a Soviet republic, not much changed.

But when the Soviet Union collapsed nearly four decades later, Russia lost its jewel. Mr. Putin thus claimed to be righting a historic wrong when he illegally annexed Crimea in 2014.

Credit…Tyler Hicks/The New York Times

Mr. Putin promised at the time that he had no intention of further dividing Ukraine. Yet eight years later, in February, tens of thousands of Russian soldiers stormed north out of the peninsula, kicking off the current war.

In recent days, military targets in Crimea have come under attack, and the peninsula once again finds itself at the fulcrum of a great power struggle.

Military Importance

Early in the war, Russian troops surging from Crimea seized swaths of the Kherson and Zaporizhia regions that remain the key to Russia’s occupation of southern Ukraine.

Crimea, in turn, offers key logistical support for Russia to maintain its occupation army, including two main rail links that Russia relies on for moving heavy military equipment. Crimean air bases have been used to stage sorties against Ukrainian positions, and the peninsula has provided a launching ground for long-range Russian missiles.

The peninsula is also home to Russia’s Black Sea Fleet, helping Russia maintain dominion over the sea, including a naval blockade that has crippled Ukraine’s economy.

A Place in the Sun

Russia is cold — a fifth of the country is above the Arctic Circle. But it can be positively balmy in the sun-drenched Crimean city of Yalta.

“Russia needs its paradise,” wrote Prince Grigory Potemkin, Catherine the Great’s general and lover, when he urged her to claim the land.

Crimea is where czars and Politburo chairmen kept vacation homes. Before the West imposed sanctions on Russia for illegally annexing the peninsula, it was a place where wealthy Eastern Europeans went to unwind and party.

“Casinos buzz and ping everywhere amid the city’s pine-bowered alleyways,” a New York Times Travel article proclaimed about Yalta in 2006, adding: “Much — if not everything — goes in this seaside boomtown.”

Tourism fell steeply after 2014. But when explosions rang out at an air base last week near Crimea’s western coast, there were still visitors at nearby resorts taking photos and videos as black smoke obscured the sun.

Credit…Reuters

Ties to Russia

“Crimea has always been an integral part of Russia in the hearts and minds of people,” Mr. Putin declared in his 2014 address marking the annexation. But his is a selective reading of history.

Over the centuries, Greeks and Romans, Goths and Huns, Mongols and Tatars have all laid claim to the land.

And perhaps no group in Crimea has watched the unfolding war with as much trepidation as the Tatars, Turkic Muslims who migrated from the Eurasian steppes in the 13th century.

They were brutally targeted by Stalin, who — in a foreshadowing of the Kremlin’s justification for its current war — accused them of being Nazi collaborators and deported them en masse. Thousands died in the process.

In 1989, Mikhail Gorbachev, the last Soviet leader, allowed Tatars to return to Crimea. And before the 2014 annexation, they made up about 12 percent of Crimea’s population, numbering about 260,000 there.

In 2017, Human Rights Watch accused Moscow of intensifying the persecution of the Tatar minority in Crimea, “with the apparent goal of completely silencing dissent on the peninsula.”

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Ukraine Live Updates: Residents Flee Town Near Nuclear Site as Shelling Continues

Credit…David Guttenfelder for The New York Times

ZAPORIZHZHIA, Ukraine — Artillery fire resumed on Sunday from the direction of a nuclear power plant in southern Ukraine, with shells streaking into a town from which the Ukrainian army has been unable to return fire, for fear of causing a meltdown or releasing radiation at the plant.

Hours before the barrages, there were reports that conditions were unraveling in and near the Zaporizhzhia Nuclear Power Plant. The flight of civilians from the area accelerated on Saturday.

The plant is the first active nuclear power plant in a combat zone. The United States and European Union have called for the formation of a demilitarized zone, as the fighting in and around the plant and its active reactors and stored nuclear waste has sparked particular worry.

Ukraine’s president, Volodymyr Zelensky, said in his nightly address on Saturday that Russia had resorted to “nuclear blackmail” at the plant, reiterating a Ukrainian analysis that Moscow was using it to slow a Ukrainian counteroffensive toward the Russian-occupied city of Kherson, where Russian conventional military defenses appear increasingly wobbly.

Contrary to the fears of some analysts when Moscow launched its invasion in February, the more urgent nuclear threat in the Ukraine war now appears to be Russia damaging the civilian plant, rather than deploying its own nuclear weapons. Russia says it’s Ukrainian forces who are shelling the plant.

Engineers say that yard-thick reinforced concrete containment structures protect the reactors from even direct hits. International concern, however, has grown that shelling could spark a fire or cause other damage that would lead to a nuclear accident.

The six pressurized water reactors at the complex retain most sources of radiation, reducing risks. After pressurized water reactors failed at the Fukushima nuclear plant in Japan in 2011, Ukraine upgraded the Zaporizhzhia site to enable a shutdown even after the loss of cooling water from outside the containment structures, Dmytro Gortenko, a former plant engineer, said in an interview.

Ukraine’s military intelligence agency said that on Saturday, Russian artillery fire hit a pump, damaged a fire station and sparked fires near the plant that could not be immediately extinguished because of the damage to the fire station.

In fields near the Russian-controlled town of Enerhodar, close to the plant, long lines of cars carrying fleeing civilians formed on Saturday, according to social media posts and another former engineer at the plant who has remained in touch with local residents.

“Locals are abandoning the town,” said the former engineer, who asked to be identified by only his first name, Oleksiy, because of security concerns. Residents had been leaving for weeks, but the pace picked up after Saturday’s barrages and fires, he said.

Since Russia captured the plant in March, its army has controlled the facility, while Ukrainian engineers have continued to operate it.

Ukrainian employees are not fleeing but sending their families away, said Oleksiy, who left in June. Enerhodar was built for plant employees in the Soviet period and had a prewar population of about 50,000.

Ukraine has accused Russia of staging artillery attacks targeting Ukrainian towns across the Dnipro River from the plant starting in July, as Ukraine’s counteroffensive in the south ramped up.

Overnight into Sunday morning, Russian howitzers fired on the Ukrainian town of Nikopol, which lies across a reservoir from the power plant, Yevheny Yetushenko, the Ukrainian military governor of the town, said in a post on Telegram.

The Ukrainian military has said it has few options for firing back. In July, it used a self-destructing drone to strike a Russian rocket artillery launcher that sat about 150 yards from one of the plant’s reactors.

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Gun Violence Advocates Start Nationwide Bus Tour Against NRA

Advocates for gun law reform are staging a nationwide bus tour to highlight the cost of gun violence on young lives.

A convoy of buses made its way down the streets of Houston.  

At first glance, you might even mistake the mile-long row of yellow school buses for those you see every day, picking up and dropping off kids at school. 

But these buses serve a very different purpose.

They stand as a dark reminder of children who never made it on the bus back home. 

It’s called the NRA children’s museum: a mobile museum of 52 empty school buses with 4,368 empty seats. Each seat represents a life lost to gun violence since 2020. 

On some seats, you’ll find the picture and name of one of those kids, along with where they died.  

Alongside them: small keepsakes and reminders of full lives senselessly cut short. 

The artist behind the project, Manuel Oliver, knows the pain embodied in each empty seat. Each serves as a reminder of his son, Joaquin, who was killed in the Parkland shooting at Marjory Stoneman Douglas high school in 2018.  

“Joaquin was shot four times with an AR-15, almost five years ago,” Oliver said.  

A striking reminder of that AR-15 could be seen from the sky.  

Manuel and Patricia Oliver are the co-founders of “Change The Ref”, a gun-reform organization using art to showcase the impact of mass shootings and call for legislative change. 

The Yellow Bus Project aims to call out the dozens of pro-gun lawmakers who receive support from the NRA. 

Manuel, said, in part: “we are showing American voters the toll these politicians have taken on our children’s lives with this all-too-real archive.” 

The convoy’s route included a drive by the office of one of those pro-NRA senators, Ted Cruz. 

The convoy stopped to drop a letter about gun reform written by Joaquin. Manuel called on Senator Cruz to “start prioritizing kids over the NRA’s money.” 

“There’s a business model in here. Our legislators are a part of it. There’s gun manufacturers, and the gun industry that has the blessing of these people that are supposed to put a stop of this,” Oliver said.  

Some Democratic senators are of the same mind as Oliver. 

“Please, please, please put yourselves in the shoes of these parents for once! Maybe that thought of putting yourselves in the shoes of these parents, instead of the arms of the NRA might let you wiggle free from the vice-like grip of the NRA,” said Senate Majority Leader Chuck Schumer. 

As for Manuel, he says he has no plans of resting until the gun lobby does. 

“Every time you see a line of school buses, there’s a big chance it’s us with the children’s museum because this museum is going to travel all around the nation. We won’t stop here. This is just the first stage,” Oliver said. 

Source: newsy.com

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Global Central Banks Ramp Up Inflation Fight

Central bankers around the world are lifting interest rates at an aggressive clip as rapid inflation persists and seeps into a broad array of goods and services, setting the global economy up for a lurch toward more expensive credit, lower stock and bond values and — potentially — a sharp pullback in economic activity.

It’s a moment unlike anything the international community has experienced in decades, as countries around the world try to bring rapid price increases under control before they become a more lasting part of the economy.

Inflation has surged across many advanced and developing economies since early 2021 as strong demand for goods collided with shortages brought on by the pandemic. Central banks spent months hoping that economies would reopen and shipping routes would unclog, easing supply constraints, and that consumer spending would return to normal. That hasn’t happened, and the war in Ukraine has only intensified the situation by disrupting oil and food supplies, pushing prices even higher.

is expected to make its first rate increase since 2011, one that officials have signaled will most likely be only a quarter point but will probably be followed by a larger move in September.

Other central banks have begun moving more aggressively already, with officials from Canada to the Philippines picking up the pace of rate increases in recent weeks amid fears that consumers and investors are beginning to expect steadily higher prices — a shift that could make inflation a more permanent feature of the economic backdrop. Federal Reserve officials have also hastened their response. They lifted borrowing costs in June by the most since 1994 and suggested that an even bigger move is possible, though several in recent days have suggested that speeding up again is not their preferred plan for the upcoming July meeting and that a second three-quarter-point increase is most likely.

As interest rates jump around the world, making money that has been cheap for years more expensive to borrow, they are stoking fears among investors that the global economy could slow sharply — and that some countries could find themselves plunged into painful recessions. Commodity prices, some of which can serve as a barometer of expected consumer demand and global economic health, have dropped as investors grow jittery. International economic officials have warned that the path ahead could prove bumpy as central banks adjust policy and as the war in Ukraine heightens uncertainty.

blog post on Wednesday. Ms. Georgieva argued that central banks need to react to inflation, saying that “acting now will hurt less than acting later.”

rising consumer prices and declining spending, the American economy is showing clear signs of slowing down, fueling concerns about a potential recession. Here are other eight measures signaling trouble ahead:

In recent years, emerging markets have often raised interest rates in anticipation of the Fed’s slow and steady moves to avoid big swings in their currency values, which depend partly on interest rate differences across borders. But this set of rate increases is different: Inflation is running at its fastest pace in decades in many places, and a range of developed-economy central banks, including the European Central Bank, the Swiss National Bank, the Bank of Canada and the Reserve Bank of Australia, are joining — or may join — the Fed in pushing rates quickly higher.

“It’s not something we’ve seen in the last few decades,” said Bruce Kasman, chief economist and head of global economic research at JPMorgan Chase.

The last time so many major nations abruptly raised rates in tandem to fight such rapid inflation was in the 1980s, when the contours of global central banking were different: The 19-country euro currency bloc that the E.C.B. sets policy for did not exist yet, and global financial markets were less developed.

That so many central banks are now facing off against rapid inflation — and trying to control it by slowing their economies — increases the chance for market turmoil as an era of very low rates ends and as nations and companies try to adjust to changing capital flows. Those changing flows can influence whether countries and businesses are able to sell debt and other securities to raise money.

“Financial conditions have tightened due to rising, broad-based inflationary pressures, geopolitical uncertainty brought on by Russia’s war against Ukraine, and a slowdown in global growth,” Janet L. Yellen, the U.S. Treasury secretary, said in speech last week. “Now, portfolio investment is beginning to flow out of emerging markets.”

fastest pace since 1983. In the United Kingdom, it is similarly at a 40-year-high.

kick off rate increases back in December and has been steadily raising rates since. Policymakers are increasingly worried about inflation creating a cost-of-living crisis in Britain and worry that higher rates could compound economic pain. At the same time, they have signaled that they could act more forcefully, taking their cue from their global peers. There is a “willingness — should circumstances require — to adopt a faster pace of tightening,” Huw Pill, the chief economist of the Bank of England, said this month.

“Many central banks are looking at this as a sort of existential question about getting inflation and inflation expectations down,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank.

The Fed raised rates by a quarter point in March, half a point in May, and three-quarters of a percentage point in June. While its officials have predicted that they will maintain that pace in July, they have also been clear that an even bigger rate increase is possible.

“Inflation has to be our focus, every meeting and every day,” Christopher Waller, a Fed governor, said during a speech last week. “The spending and pricing decisions people and businesses make every day depend on their expectations of future inflation, which in turn depend on whether they believe the Fed is sufficiently committed to its inflation target.”

The Bank of Canada has already gone for a full percentage point move, surprising investors last week with its largest move since 1998, while warning of more to come.

said in a statement.

of other central banks have made big moves. More action is coming. Central banks around the world have been clear that they expect to keep moving borrowing costs higher into the autumn.

“I wouldn’t say we’re at peak tightening quite yet,” said Brendan McKenna, an economist at Wells Fargo. “We could go even more aggressive from here.”

A key question is what that will mean for the global economy. The World Bank in June projected in a report that global growth would slow sharply this year but remain positive. Still, there is “considerable” risk of a situation in which growth stagnates and inflation remains high, David Malpass, head of the World Bank, wrote.

If inflation does become entrenched, or even show signs of shifting expectations, central banks may have to respond even more aggressively than they are now, intentionally crushing growth.

Mr. Kasman said the open question, when it comes to the Fed, is: “How far have they gone toward the conclusion that they need to kick us in the teeth, here?”

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Sun Valley Conference 2022: When Private Jets Land in Small-Town Idaho

HAILEY, Idaho — Robert Kraft, the owner of the New England Patriots, flies in a Gulfstream G650. So do Jeff Bezos and Dan Schulman, PayPal’s chief executive. The jets, roughly 470 of which are in operation, retail for about $75 million each.

Most days, those planes are spread out, ferrying captains of industry to meetings around the globe. But for one week in July, some of them converge on a single 100-foot-wide asphalt runway beside the jagged hills of Idaho’s Wood River Valley.

The occasion is the annual Sun Valley conference, a shoulder-rubbing bonanza organized by the secretive investment bank Allen & Company. Known as “summer camp for billionaires,” the conference kicks off this year on Tuesday, and it draws industry titans and their families — some of whom are watched over by local babysitters bound by nondisclosure agreements. In between organized hikes and fly-fishing at past gatherings, there have been sessions on creativity, climate change and immigration reform.

the ninth hole of the golf course, the head of General Electric expressed interest in selling NBC to Comcast. It is where Mr. Bezos met with the owner of The Washington Post before agreeing to buy the paper, and where Disney pursued a plan to purchase ABC — with Warren Buffett at the center of the discussions.

a year-round population of 1,800.

During a 24-hour period last year as the conference began, more than 300 flights passed through Friedman Memorial Airport in Hailey, a small town near Sun Valley, according to data from Flightradar24, an industry data firm. They ranged from tiny propeller planes to long-wing commercial jets. By comparison, two weeks ago, when Mr. Pomeroy gave me a brief tour of the airport, just 44 flights took off or landed there over 24 hours, according to the data firm.

“This is empty right now,” Mr. Pomeroy said, smoothly steering his white 2014 Ford Explorer (what he calls his “mobile command center”) past a swath of freshly paved asphalt. “But in the summer, and during the event in particular, there’s airplanes parked everywhere up here.”

Much like the activities of the conference, elements of the travel there are shrouded in secrecy. Many jets flying in are registered to obscure owners and limited liability companies, some with only winking references to their passengers. The jet that carried Mr. Kraft last year, for example, is registered under “Airkraft One Trust,” according to records from the Federal Aviation Administration. The plane that Mr. Bezos flew in on is registered to Poplar Glen, a Seattle firm.

Representatives for Mr. Kraft and Mr. Bezos declined to comment. Mr. Bezos is not expected to turn up at Sun Valley this year, according to an advance list of guests that was obtained by The New York Times.

Mr. Pomeroy plans well in advance to deal with the intense air traffic generated by the conference, which he refers to obliquely as “the annual fly-in event.” Without proper organization, flocks of private jets could stack up in the airspace around Friedman, creating delays and diversions while pilots burn precious fuel.

That was the case for the 2016 conference, which coincided with Mr. Pomeroy’s first week on the job. That year, some aircraft circled overhead or sat on the tarmac for more than an hour and a half, waiting for the airspace and runway to clear.

“I saw airplanes literally lined up to take off from the north end of the field almost all the way down to the south end of the field,” Mr. Pomeroy said, referring to the 7,550-foot runway. “Tail to nose, all the way up the taxiway.”

After that episode, Mr. Pomeroy enlisted Greg Dyer, a former district manager at the F.A.A., to help unclutter the tarmac. The two coordinated with an F.A.A. hub in Salt Lake City to line up flights, sometimes 300 to 500 miles outside Sun Valley. For some flights, the staging begins before the planes take off.

“Before, it looked like an attack — it was just airplanes coming from all points of the compass, all trying to get here at the same time,” said Mr. Dyer, an airport consultant for Jviation-Woolpert.

Last year, delays were kept to a maximum of 20 minutes, and no commercial travelers missed connecting flights because of air traffic caused by the conference, Mr. Pomeroy said.

When moguls are forced to circle in the air, they often loiter in great style. Buyers willing to shell out tens of millions for a high-end private plane are unlikely to balk at an additional $650,000 to outfit the aircraft with Wi-Fi, said Lee Mindel, one of the founders of SheltonMindel, an architectural firm that has designed the interiors of Gulfstream and Bombardier private jets. Some owners, he said, have opted for bespoke flatware from Muriel Grateau in Paris, V’Soske rugs or other luxe features.

“If you have to ask what it costs, you really can’t afford to do it,” Mr. Mindel said.

During the pandemic, when commercial travel slowed because of restrictions, corporate jaunts increased among a subset of executives who didn’t want to be held back, said David Yermack, a professor at New York University’s Stern School of Business. He added that it might be cheaper in the long run to compensate chief executives with jet travel than pay them with cash.

“I think it was Napoleon who said, ‘When I realized people would lay down their lives for little pieces of colored ribbon, I knew I could conquer the world,’” Mr. Yermack said.

The glut of flights certainly raises practical concerns. The residents of Hailey, as well as nearby Ketchum and Sun Valley, have complained in the past about the noise created by the jets zooming into Friedman Memorial Airport.

To deal with the complaints, Mr. Pomeroy and the Friedman Memorial Airport Authority curtailed flights between 11 p.m. and 7 a.m. and limited the number of takeoffs and landings from the north, over the little city of Hailey.

Before the conference, Mr. Pomeroy sends a letter to incoming pilots about what to expect, admonishing them to keep the noise to a minimum.

“While the overwhelming majority of users during this event are respectful of our program and community, only a few operators who blatantly disregard our program, or who are negligent in educating themselves about our program, leave a negative impression on all of us,” Mr. Pomeroy wrote this year.

Allen & Company’s stinginess about some conference details extends to the airport. But Mr. Pomeroy and his team get enough information to conclude when the moguls will arrive and are about to leave town.

When the schmoozing is over next week, Mr. Pomeroy will begin the arduous task of ushering the corporate titans out of Idaho. Often that means closing the airport briefly to arrivals while they hustle out departures for an hour.

As the last jets get ready to leave, Mr. Pomeroy said, he and his team breathe a sigh of relief.

“Afterward, I am ready to hit the river for some serious fly-fishing for a day or two,” he said.

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