Already cash-strapped and tired states now find themselves dealing with further multiple costs as the remnants of Tropical Storm Lee beleaguered the Mid-Atlantic region.Hurricane Irene had tested the area severely,which now must battle record flooding from Lee's five days of nearly continuous rainfall.
At least two people were swept away to their deaths by high water in Virginia,one of them a twelve year-old boy.Pennsylvania's death toll rose to five by Friday as the Susquehanna River closed at least 178 roads in the worst flooding since Hurricane Agnes in 1972.
Pennsylvania Governor Tom Corbett described a clear public health emergency in his state as sewage plants were swamped and rendered inoperable.The flood waters could contain all sorts of dangers,from the raw sewage to manifold debris and diesel fuel.
The Susquehanna River drains lands from New York state to Maryland,flowing eventually into the Chesapeake Bay.It is estimated that T.S. Lee has dropped some 2.4 trillion gallons of rain water on the Susquehanna basin.
Other states have also recorded various difficulties on account of the endless rain.Pompton Lakes,New Jersey had to condemn 22 homes that have been inundated repeatedly by Hurricane Irene and T.S. Lee.A car dealer in Upper Marlboro,Maryland counted a loss of five million dollars of inventory ruined by chaotic waters.
The sun has not been seen for so long,the region's residents may not recognize it when it finally does return.
Update:As of Saturday,September 10,the long-gone sun had indeed returned to the Mid-Atlantic skies.All the same,it should be noted that some of T.S. Lee's energy is still present in the atmosphere.This may result in isolated to scattered showers and thunderstorms for the next several days.In consequence,flash flooding could result,even though the region's waterways have begun the receding process.Setbacks may occur,given the historic drenching that has been sustained.
Towards the middle and end of the new week,the jet stream is expected to dip dramatically,bringing the possibility of a record-breaking cold front to the lower 48.Colorado already has seen the first snow of the season,a dusting that fell on the Arapahoe basin.
Thursday, September 8, 2011
Monday, September 5, 2011
TD Bank Grinds Higher
Although TD Bank has posted profits that are up 23%,CEO Ed Clark feels that the environment has soured.For instance,there is the Durbin amendment that we have to absorb.
The Durbin amendment restricts the fees that big banks operating in the U.S. can charge merchants for processing transactions made with their debit cards.The fees would be reduced from about 44 cents per swipe to 21 cents per swipe,resulting in a revenue loss to the banks of more than 16.1 billion dollars.The amendment is slated to go into force in October.
Tough environments actually widen the difference between excellent franchises and not so excellent franchises.We run this very simple model with longer hours;seven days a week;and spectacular service:you just relentlessly take market share that way.Our mortgage book is up 39% in the U.S.
On the other hand,there are a whole lot of political changes that,over time,will grind the banking system down;that,over time,will prevent banks from giving strong support to the economy.If you impose a form of tax-we're quite committed to the U.S.,but we shouldn't underestimate the grind that we're feeling right now.
TD Bank isn't focused on mergers and acquisitions.Taking market share has to be the core of your business strategy,but you add little parts you need by acquisition,Mr.Clark explained.
Toronto-Dominion Bank(TD)
The Durbin amendment restricts the fees that big banks operating in the U.S. can charge merchants for processing transactions made with their debit cards.The fees would be reduced from about 44 cents per swipe to 21 cents per swipe,resulting in a revenue loss to the banks of more than 16.1 billion dollars.The amendment is slated to go into force in October.
Tough environments actually widen the difference between excellent franchises and not so excellent franchises.We run this very simple model with longer hours;seven days a week;and spectacular service:you just relentlessly take market share that way.Our mortgage book is up 39% in the U.S.
On the other hand,there are a whole lot of political changes that,over time,will grind the banking system down;that,over time,will prevent banks from giving strong support to the economy.If you impose a form of tax-we're quite committed to the U.S.,but we shouldn't underestimate the grind that we're feeling right now.
TD Bank isn't focused on mergers and acquisitions.Taking market share has to be the core of your business strategy,but you add little parts you need by acquisition,Mr.Clark explained.
Toronto-Dominion Bank(TD)
Sunday, September 4, 2011
Gillard Holds On To PM Post
Australian Prime Minister Julia Gillard is unpopular with the electorate,but she still commands the loyalty of her Labour Party.Labour MPs have just given their backing for her to remain in office.
Gillard wants to get the controversial carbon tax legislation through Parliament.She has been in office since June,2010.In her favor,the Australian services industry has reported growth for the first time in four months.
According to a Bank of New Zealand survey,New Zealand business confidence has risen in September.
China's service sector Purchasing Managers Index has fallen from 59.6 in July to 57.6 in August,indicating continuing but slower growth in the sector.
Three Chinese companies are buying most of Bank of America's stake in China Construction Bank.They are joined by Singapore and Qatar sovereign wealth funds in the acquisition.
In Sydney,it was 68F on Monday under clear skies.Winds were W at 6 mph,while the humidity was 60%.
Gillard wants to get the controversial carbon tax legislation through Parliament.She has been in office since June,2010.In her favor,the Australian services industry has reported growth for the first time in four months.
According to a Bank of New Zealand survey,New Zealand business confidence has risen in September.
China's service sector Purchasing Managers Index has fallen from 59.6 in July to 57.6 in August,indicating continuing but slower growth in the sector.
Three Chinese companies are buying most of Bank of America's stake in China Construction Bank.They are joined by Singapore and Qatar sovereign wealth funds in the acquisition.
In Sydney,it was 68F on Monday under clear skies.Winds were W at 6 mph,while the humidity was 60%.
Professional and General Positions
The Washington Post is holding a Mega Career Fair on Tuesday,September 13 from 10am-3pm at
Dulles Expo and Conference Center
4320 Chantilly Shopping Center
Chantilly,VA 20153
The Professional and General Pavilion at the fair is for all levels of experience.Positions available range from Passenger Service Agents to B2B Sales,as well as Managerial,Administrative and Professional Positions.Some of the employers attending will be Air Wisconsin Airlines;Allstate;Liberty Mutual;Miller's Office Products,Inc.;Pension Benefit Guaranty Corporation;and Transportation Security Administration.
For more information,visit www.washingtonpost.com/careerfairs
Dulles Expo and Conference Center
4320 Chantilly Shopping Center
Chantilly,VA 20153
The Professional and General Pavilion at the fair is for all levels of experience.Positions available range from Passenger Service Agents to B2B Sales,as well as Managerial,Administrative and Professional Positions.Some of the employers attending will be Air Wisconsin Airlines;Allstate;Liberty Mutual;Miller's Office Products,Inc.;Pension Benefit Guaranty Corporation;and Transportation Security Administration.
For more information,visit www.washingtonpost.com/careerfairs
Thursday, September 1, 2011
Surfers Beware:Tropical Storm Katia's Atlantic Journey
The National Hurricane Center said Tropical Storm Katia is continuing to chart its course across the Atlantic Ocean,and is expected to affect the Lesser Antilles by Friday with swells that cause hazardous surf and rip current conditions.
Realistically,some surfers seek out such exciting conditions.
The storm,which was briefly a hurricane on Thursday,is heading N/NW at 16 mph/26 kmh .This course is expected to continue with slowing forward speed over the next 48 hours.Maximum sustained winds are 70 mph with higher gusts.In the next 24 hours or so,Katia is expected to become a hurricane again.Its winds are extending outward up to 140 miles/220 km from the center.
Katia is located about 830 miles/1335 km E of the Leeward Islands.
Its ultimate destination is yet to be determined.
Meanwhile,Tropical Depression 13 has caused Exxon Mobil and BP to evacuate oil rigs in the Gulf of Mexico,while Chevron and Shell have evacuated non-essential personnel from theirs.Oil prices headed up a little when this news broke.
A tropical storm warning is posted from Pascagoula,Mississippi to Sabine Pass,Texas.
Update:Katia became a hurricane again on Friday.It currently has maximum sustained winds of 75 mph/120 kmh.The storm is moving NW at 12 mph/19 kmh.It is a category 1 hurricane,but could begin strengthening on Sunday.
Katia's hurricane force winds extend up to 35 miles/55 km from the center;tropical storm force winds extend up to 175 miles/1280 km.Hazardous surf and swells may affect the Lesser Antilles over the weekend,the National Hurricane Center said.
Tropical Depression 13 is now Tropical Storm Lee,and has caused the shutdown of 139 oil rigs,or 27% of manned platforms,in the Gulf of Mexico.This results in the loss of 48% of oil production and 33% of natural gas production in the Gulf.Remnants of
T.S. Lee could eventually make their way into the Northeast next week,as indeed Hurricane Katia could as well,should it continue on its current path.For now,though,New Orleans and Mississippi are gravely concerned about Lee's slow and rainy effects on them this holiday weekend.
Update 2:The remnants of T.S. Lee could reach the Mid-Atlantic region by Wednesday evening,bringing the potential for 5-10 inches of rain to the already-waterlogged area.It has sustained winds of 50 mph and is hugging the coast of Southern Louisiana,just barely moving at a speed of only 2 mph.Tropical storm warnings are posted from Dustin,Florida to Sabine Pass,Texas,but tourists are still wandering around New Orleans on this last holiday weekend of the summer.
Near the Leeward Islands,Katia has weakened to a tropical storm again,with winds about 70 mph/112.65 kmh.Another round of strengthening is expected to occur.The storm continues to head slowly toward the Mid-Atlantic region,but such weather will often veer eastward at the last minute,taking it on a track away from the east coast.
Realistically,some surfers seek out such exciting conditions.
The storm,which was briefly a hurricane on Thursday,is heading N/NW at 16 mph/26 kmh .This course is expected to continue with slowing forward speed over the next 48 hours.Maximum sustained winds are 70 mph with higher gusts.In the next 24 hours or so,Katia is expected to become a hurricane again.Its winds are extending outward up to 140 miles/220 km from the center.
Katia is located about 830 miles/1335 km E of the Leeward Islands.
Its ultimate destination is yet to be determined.
Meanwhile,Tropical Depression 13 has caused Exxon Mobil and BP to evacuate oil rigs in the Gulf of Mexico,while Chevron and Shell have evacuated non-essential personnel from theirs.Oil prices headed up a little when this news broke.
A tropical storm warning is posted from Pascagoula,Mississippi to Sabine Pass,Texas.
Update:Katia became a hurricane again on Friday.It currently has maximum sustained winds of 75 mph/120 kmh.The storm is moving NW at 12 mph/19 kmh.It is a category 1 hurricane,but could begin strengthening on Sunday.
Katia's hurricane force winds extend up to 35 miles/55 km from the center;tropical storm force winds extend up to 175 miles/1280 km.Hazardous surf and swells may affect the Lesser Antilles over the weekend,the National Hurricane Center said.
Tropical Depression 13 is now Tropical Storm Lee,and has caused the shutdown of 139 oil rigs,or 27% of manned platforms,in the Gulf of Mexico.This results in the loss of 48% of oil production and 33% of natural gas production in the Gulf.Remnants of
T.S. Lee could eventually make their way into the Northeast next week,as indeed Hurricane Katia could as well,should it continue on its current path.For now,though,New Orleans and Mississippi are gravely concerned about Lee's slow and rainy effects on them this holiday weekend.
Update 2:The remnants of T.S. Lee could reach the Mid-Atlantic region by Wednesday evening,bringing the potential for 5-10 inches of rain to the already-waterlogged area.It has sustained winds of 50 mph and is hugging the coast of Southern Louisiana,just barely moving at a speed of only 2 mph.Tropical storm warnings are posted from Dustin,Florida to Sabine Pass,Texas,but tourists are still wandering around New Orleans on this last holiday weekend of the summer.
Near the Leeward Islands,Katia has weakened to a tropical storm again,with winds about 70 mph/112.65 kmh.Another round of strengthening is expected to occur.The storm continues to head slowly toward the Mid-Atlantic region,but such weather will often veer eastward at the last minute,taking it on a track away from the east coast.
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