Two years after Hurricane Katrina life’s hard in the Big Easy
The News Review:
- Two years after Hurricane Katrina life’s hard in the Big Easy
- Pacific coast storm expected to become hurricane
- EDITRIAL – More lessons from Hurricane Dean
- Hurricane Bonds Shelter Investors From Subprime Storm (Update1)
Two years after Hurricane Katrina life’s hard in the Big Easy
NEWS.com.au – Aug 31, 2007
article-tools –> Allen Johnson JrLouisiana August 31 2007 12:00am NEW rleans yesterday marked the second anniversary of the devastating Hurricane Katrina with anger and tears. n his 15th visit to the area since the hurricane US President George W. Bush tried to dispel lingering anger at his administration’s handling of the disaster. Standing before a bridge rebuilt after Katrina the President said: "I have come back to remind people that we haven’t forgotten and won’t. " Many however were not convinced – they were still angry their communities are only limping towards healing. "The Government has failed all of us… It’s got to stop" said Gina Martin who was exiled to Houston when Katrina destroyed her home. Much of the city famed for its jazz and cooking still lies abandoned after surging seas whipped up by the hurricane breached its levees on August 29 2005. Mr Bush who was slammed for acting too slowly after the hurricane visited a school that had been under 3m of water. He declared: "New rleans better days are ahead. " "When Hurricane Katrina broke through the levees it broke a lot of hearts it destroyed buildings but it didn’t affect the spirit of a lot of citizens in this community" he said. In another ceremony Mayor Roy Nagin said: "It’s been two years since the greatest natural disaster and man-made disaster our country has ever faced. "Give us what we need to move forward or we’ll figure it out ourselves" said Mr Nagin who dined with Mr Bush on Wednesday at a popular Creole restaurant set to reopen after being rebuilt.
Pacific coast storm expected to become hurricane
Houston Chronicle – Aug 31, 2007
Henriette strengthened somewhat and was expected to become a hurricane by early Sunday according to the U. National Hurricane Center in Miami. It was not expected to make landfall. The Mexican government issued a hurricane watch Friday from the coastal resort of Manzanillo in the state of Colima north of Acapulco to Cabo Corrientes… National Hurricane Center in Miami. It was not expected to make landfall. The Mexican government issued a hurricane watch Friday from the coastal resort of Manzanillo in the state of Colima north of Acapulco to Cabo Corrientes. A tropical storm warning was in effect for a long stretch of Mexico’s southern coast from Lagunas de Chacahua on the coast of axaca state to Manzanillo. The warning area also included Acapulco.
EDITRIAL – More lessons from Hurricane Dean
Jamaica Gleaner – Aug 31, 2007
In this connection the matter of evacuation of residents from vulnerable areas when a hurricane is imminent needs to be put on firmer ground. It is not clear to us that the so-called mandatory evacuation orders have legal force particularly as it relates to young children. There were reports during the passage of Hurricane Dean that buses provided in areas such as Port Royal remained practically empty as some residents decided to stay put. The same applied to some offshore fisherfolk who chose to ignore the warning to quit the Pedro Cays and were lucky to survive even though they had a late change of heart when it was too dangerous to send a rescue mission. It seems to us that while adults may opt to take chances to protect their property their children or young dependants should not be put at risk and must be subject to mandatory action. We expect that such matters need specific legislation as individual rights and freedoms may have to be canvassed at parliamentary level in these matters. In that regard it is clear then that the suggested relocation of entire communities will be extremely challenging.
Hurricane Bonds Shelter Investors From Subprime Storm (Update1)
Bloomberg – Aug 31, 2007
Cat bonds tracked by Swiss Re have returned an average 11percent a year since the start of 2005. Holders of only one $190million series probably won't get all their money back when thebonds mature in December. Swiss Re sold the securities a monthbefore Hurricane Katrina devastated the U. Gulf Coast two yearsago this week. “I've got my fingers crossed because we had a great 2006 andhopefully we'll have a good 2007 and 2008'' said JohnBrynjolfsson a managing director at Allianz AG's PacificInvestment Management Co. in Newport Beach California… 3 that four hurricanes meriting atleast a Category 3 on the five-tier Saffir-Simpson scale would format sea almost twice the annual average from 1950 to 2000. Lastweek Dean became the first coming ashore in a sparsely populatedarea of Mexico's Yucatan Peninsula. “Typically there's not a lot of volume in the hurricane-related assets during the season unless you have something that'stroubling'' said. the fourth-biggest U.