1. This is August 15 and a few days on either side. When all the leases in the central city turn over at the same time, many students and other renters leave vast piles of unwanted belongings on the curb as they change apartments. These items are often taken home by others as the population garbage picks the piles. When someone asks where you got an item, you reply "Hippie Christmas."
2. Most leases in Madison, Wisconsin go from August 15th to August 14th of the following year. Many students are stuck in no man's land from noon on the 14th to noon on 15th while the owners are turning over the apartments. Some people camp out overnight guarding their earthly possessions. In the aftermath of this multiple-day circus plenty of rancid old pieces of furniture are left out on the curb for opportunistic hippies to snatch.
3. Whether it makes them hippies or not, many UW students wait for Hippie Christmas to furnish their new (but not very new) apartments. It costs a lot of money to furnish a place and college students are often strapped for cash. The trick is to find something that isn't drenched beyond repair. Many finds are quite salvageable.
Nickname for "The tallest fraternity in Texas." The Houston Cougars' basketball team from 1982 to 1984 featured explosive players like Clyde Drexler and Hakeem Olajuwon that warranted the nickname for their explosive play and huge dunks. Phi Slama Jama happened again on the Houston Rockets when Clyde Drexler was traded to the NBA champion Houston Rockets for one last hurrah at the end of both Drexler's and Olajuwon's careers.
This is slang for the Berkshire Hathaway annual shareholder's meeting. Warren Buffett's thousands of cult followers descend upon Omaha to hear the oracle utter his words of humble wisdom.
Some refer to CR as the City of Five Smells since the odor from various grain & food processing plants (Quaker Oats, Cargill, Ralston Foods, etc.) can be detected depending on the day & wind direction. See also: "The City of Five Seasons".