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Hurricane Andrew

NEWS
By CARL T. ROWAN | August 28, 1992
Washington. -- In a world where men and women boast of their economic, political, pillow, black and other kinds of ''power,'' along comes Hurricane Andrew to remind us of just how powerless we all are in the face of nature's fury.No government, no armies, are a match for a little atmospheric depression that arises off the coast of Africa and grows into a monster killer, a destroyer of a military base and of many billions of dollars worth of other property.Yet, we are seeing from the Bahamas to South Florida to Louisiana one of the grim demonstrations that ''life is not always fair.
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BUSINESS
By David Conn and David Conn,Staff Writer | August 26, 1992
As residents of Texas and Louisiana either fled or braced for the arrival of Hurricane Andrew yesterday, insurers in Maryland and around the nation began to fear the worst from one of the most destructive storms of the century.Emergency workers in south Florida, which suffered the first hit Monday, have estimated the damage there from Andrew will run between $15 billion and $20 billion, compared to $10 billion in damage from Hurricane Hugo in 1989.Insured losses could reach $4 billion in Florida alone, claims adjusters predicted, about the same amount of insured losses Hugo caused in its entirety.
NEWS
By Ernest F. Imhoff and Ernest F. Imhoff,SUN STAFF | August 29, 1998
Home insurance rates will probably be unaffected by damage reported from Hurricane Bonnie, a well-known insurance consumer advocate says."I'm thinking, based on what I've heard, the storm will not raise rates in the country, and probably not in North Carolina," said Bob Hunter, insurance director of the Consumer Federation of America. "The damage is apparently not that great."Virtually agreeing with the assessment was Steven Goldstein, vice president of the Insurance Information Institute of New York, the industry's communication arm."
NEWS
July 15, 1993
Americans associate the fragility of urban life with the great cities on the edges: the New York blackout, the San Francisco earthquake, the Big One coming to Los Angeles. The violence of nature comes from without: the tropical storm roaring toward Florida. The main problem with water is its absence in the great Western desert. What the Middle American corn-belt worries about in midsummer is drought.Water is the earth's most precious commodity. The Mississippi drainage area is a fortunate part of the world.
BUSINESS
August 29, 1992
New line of Macs expectedApple Computer Inc. is expected to announce a new line of Macintosh personal computers aimed at a "family" audience, part of an aggressive entry into the market for affordable home computers, analysts said yesterday.The Cupertino, Calif.-based company announced a Sept. 14 news conference to unveil a new line, but refused to provide details.30-year mortgages go over 8%Rates on 30-year mortgages jumped back over 8 percent this week, pushed up by a plunge in the value of the dollar.
BUSINESS
By David Conn and David Conn,Staff Writer | October 29, 1992
USF&G Corp. reported yesterday a small operating profit in the third quarter, all of which was erased by the financial damage from Hurricane Andrew and by the payment of a preferred stock dividend.It was the third quarter in a row that the Baltimore-based insurer had operated in the black, only to see its gains paid out in dividends. But the continuing improvement in operations, aided by the sale of investment securities, cheered some of the analysts who follow the company."It looks like they're on target in terms of their recovery," said Ellen Barzilai, an analyst in the New York office of Alex.
NEWS
By KNIGHT RIDDER/TRIBUNE | September 15, 2005
BILOXI, Miss. - Hurricane Katrina damaged or demolished nearly half a million homes in three states, the American Red Cross said yesterday - four times as many as Hurricane Andrew did when it hit South Florida in 1992. As President Bush prepared to speak to the nation from an undisclosed location in the disaster zone at 9 tonight, environmental and fiscal challenges continued to mount along the Gulf Coast, and Louisiana launched a massive investigation of health-care facilities where patients who weren't evacuated died after the storm.
BUSINESS
September 24, 1992
Stocks open on upward noteThe stock market turned upward today with encouragement from declining interest rates.The Dow Jones average of 30 industrials rose 13.78 points to 3,292.47 in the first half-hour of trading. Gainers outpaced losers by about 5 to 3 in nationwide trading of New York Stock Exchange-listed issues, with 739 up, 422 down and 626 unchanged. Volume on the Big Board came to 26.08 million shares as of 10 a.m. on Wall Street.Interest rates dropped in the bond market today, relieving worries over a recent upswing that lifted yields on long-term Treasury bonds.
BUSINESS
September 24, 1992
Prudential expects big storm tabPrudential Insurance Co., the nation's biggest insurance company, said yesterday that it expects to pay out more than $1 billion in claims for the damage caused by Hurricane Andrew.The estimate was four times larger than it predicted after the devastating storm struck last month, ravaging south Florida and Louisiana.The insurer, based in Newark, N.J., said it expects more than 35,000 claims from policyholders of its Prudential Property and Casualty Insurance Co. subsidiary.
BUSINESS
September 16, 1992
Stocks continuing to slideThe stock market declined broadly today, extending yesterday's slide as traders reappraised the outlook for interest rates worldwide.The Dow Jones average of 30 industrials dropped 5.14 points to 3,322.18 in the first half hour of trading. Losers outpaced gainers by more than 3 to 1 in nationwide trading of New York Stock Exchange-listed issues. Volume on the Big Board came to 28.91 million shares as of 10 a.m.Production off in AugustIndustrial production fell 0.5 percent in August, the government said today, due in part to the effects of Hurricane Andrew and a strike at a General Motors parts plant.
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