Gallagher & Associates Team
Friday, June 18, 2010
Tuesday, June 8, 2010
Monday, June 7, 2010
Thursday, June 3, 2010
Sunday, May 30, 2010
Hurricane Season Outlook
NOAA has issued an alarming hurricane forcast this year stating that it will be an "an active to extremely active" season:
· 14 to 23 storms big enough to be named.
· Eight to 14 hurricanes - storms with winds of 74 mph or greater.
· Three to seven major hurricanes - those with winds exceeding 111 mph.
That is the most named storms NOAA has forecast since it began issuing the outlook in 1998. Only 2005 had more actual named storms: 28, including 15 hurricanes. NOAA predicted more storms than actually occurred only once, in 2006.
"We could be facing one of the more active seasons on record," NOAA Administrator Jane Lubchenko said at a news conference.
The hurricane season is June 1 to Nov. 30, but most storms occur in August through October.
State and federal emergency planners are worried about a storm surge that could carry oil from the Gulf spill far inland.
· 14 to 23 storms big enough to be named.
· Eight to 14 hurricanes - storms with winds of 74 mph or greater.
· Three to seven major hurricanes - those with winds exceeding 111 mph.
That is the most named storms NOAA has forecast since it began issuing the outlook in 1998. Only 2005 had more actual named storms: 28, including 15 hurricanes. NOAA predicted more storms than actually occurred only once, in 2006.
"We could be facing one of the more active seasons on record," NOAA Administrator Jane Lubchenko said at a news conference.
The hurricane season is June 1 to Nov. 30, but most storms occur in August through October.
State and federal emergency planners are worried about a storm surge that could carry oil from the Gulf spill far inland.
Banks Investigated
New York Attorney General Andrew Cuomo has launched an investigation into eight banks to determine if the misled mortgage ratings agencies regarding mortgage securities. Cuomo's office will investigate how the banks profited from bundling and selling sub-prime mortgages.
During the housing boom, Wall Street banks often packaged pools of risky subprime mortgages. The securities were then given top-notch ratings and investors purchased them, in part, because of their high
Banks subject to the investigation included: Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutche Bank, Credit Agricole and Merril Lynch, which is now part of Bank of America.
The rating agencies, such as Standard & Poors, Moody's Investors Service and Fitch Ratings Agencies were paid by the banks to grade their securities. Investors relied upon the ratings services for objective evaluation, not knowing that the information was inaccurate.
The securities have been widely blamed for the mortgage crisis and costing investors billions of dollars in losses. The ratings agencies have come under fire for giving high ratings to pools of sub-prime and non-performing mortgages.
During the housing boom, Wall Street banks often packaged pools of risky subprime mortgages. The securities were then given top-notch ratings and investors purchased them, in part, because of their high
Banks subject to the investigation included: Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutche Bank, Credit Agricole and Merril Lynch, which is now part of Bank of America.
The rating agencies, such as Standard & Poors, Moody's Investors Service and Fitch Ratings Agencies were paid by the banks to grade their securities. Investors relied upon the ratings services for objective evaluation, not knowing that the information was inaccurate.
The securities have been widely blamed for the mortgage crisis and costing investors billions of dollars in losses. The ratings agencies have come under fire for giving high ratings to pools of sub-prime and non-performing mortgages.
BP Spill: How Can I Help?
Because of the oil spill's changing trajectory in the Gulf of Mexico, Florida faces the threat of contamination from the oil spill. Many people would like to lend a hand in case Florida is affected. Although currently volunteer and employment opportunities are limited in Florida, there are many ways to help both through community programs, county programs, and possibly through BP sponsored programs.
BP stated that only trained, paid workers will be allowed to handle oil-contaminated materials. Contact with crude oil or crude oil contaminated materials without proper training could be hazardous to your health. As such, it is advised against conducting any cleanup or recovery activities without the proper training and supervision from the authorities. To be added to BP's volunteer database, interested individuals are asked to register with BP's Volunteer Hotline, 1-866-448-5816. A local coordinator will contact you if and when volunteer help is needed.
There are also volunteer opportunities within Florida counties including reporting oil sightings, pre-oil landfall beach cleanups, fundraising, and other activities.
To view the opportunities available in your county, please visit http://www.volunteerfloridadisaster.org. Local opportunities in Pinellas County include beach and wildlife monitoring. To report oil along the shoreline, please call both the BP hotline at 1-866-448-5816 and the State Warning Point at 1-877-2-SAVE-FL.If you are not able to lend a hand, but can make a donation, the Clearwater Marine Aquarium has set up an Oil Spill Emergency Fund, and donations can be made by calling the aquarium at (727) 441-1790 or visiting www.seewinter.com. Also, the Suncoast Seabird Sanctuary in Pinellas is accepting donations of items such as towels and Dawn dish soap to treat oiled birds.
If you see an injured or otherwise distressed animal, please do not attempt to help it or transport it on your own. Tri-State Bird Rescue and Research has been contracted to handle oiled wildlife. If you find a distressed animal, please contact call 1-866-557-1401.
Lastly, for those who have boating vessels available and would like to volunteer, the Vessels of Opportunity (VOO) program provides local boat operators an opportunity to assist with response activities, including transporting supplies, assisting wildlife rescue and deploying containment and sorbent boom. Only vessel captains and employees that have completed training and meet the requirements are eligible to work in the BP Vessels of Opportunity program. The vessel owner does not need to be the operator or part of the crew. Owners and captains will receive a phone call when they are selected for hire. If interested, please call (281) 366-5511 for more information.
BP stated that only trained, paid workers will be allowed to handle oil-contaminated materials. Contact with crude oil or crude oil contaminated materials without proper training could be hazardous to your health. As such, it is advised against conducting any cleanup or recovery activities without the proper training and supervision from the authorities. To be added to BP's volunteer database, interested individuals are asked to register with BP's Volunteer Hotline, 1-866-448-5816. A local coordinator will contact you if and when volunteer help is needed.
There are also volunteer opportunities within Florida counties including reporting oil sightings, pre-oil landfall beach cleanups, fundraising, and other activities.
To view the opportunities available in your county, please visit http://www.volunteerfloridadisaster.org. Local opportunities in Pinellas County include beach and wildlife monitoring. To report oil along the shoreline, please call both the BP hotline at 1-866-448-5816 and the State Warning Point at 1-877-2-SAVE-FL.If you are not able to lend a hand, but can make a donation, the Clearwater Marine Aquarium has set up an Oil Spill Emergency Fund, and donations can be made by calling the aquarium at (727) 441-1790 or visiting www.seewinter.com. Also, the Suncoast Seabird Sanctuary in Pinellas is accepting donations of items such as towels and Dawn dish soap to treat oiled birds.
If you see an injured or otherwise distressed animal, please do not attempt to help it or transport it on your own. Tri-State Bird Rescue and Research has been contracted to handle oiled wildlife. If you find a distressed animal, please contact call 1-866-557-1401.
Lastly, for those who have boating vessels available and would like to volunteer, the Vessels of Opportunity (VOO) program provides local boat operators an opportunity to assist with response activities, including transporting supplies, assisting wildlife rescue and deploying containment and sorbent boom. Only vessel captains and employees that have completed training and meet the requirements are eligible to work in the BP Vessels of Opportunity program. The vessel owner does not need to be the operator or part of the crew. Owners and captains will receive a phone call when they are selected for hire. If interested, please call (281) 366-5511 for more information.
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