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Hurricane Andrew

BUSINESS
By Chicago Tribune | March 7, 1993
In response to the skyrocketing cost of timber, the National Association of Home Builders is asking President Clinton to convene a summit on forestry issues.The builders' board of directors -- at its convention in Las Vegas two weeks ago -- adopted a policy statement calling on the president and Congress to "develop a comprehensive strategy that acknowledges the nation's need for timber and other natural resources, affordable housing and jobs, as well as the nation's desire to protect the environment and wildlife."
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NEWS
By GWYNNE DYER | February 2, 1993
London. -- "The waves now are fantastically high on average,'' said Sheldon Bacon of the Institute of Oceanographic Sciences in England last August. ''And why? Goodness knows. What pings around in the brain is the greenhouse effect.''Mr. Bacon was discussing the astounding fact that wave heights in the North Atlantic Ocean have risen by fully 25 percent over the past quarter-century, although average wind speeds have remained steady. That doesn't make any sense, and Mr. Bacon suspects that global warming is to blame.
BUSINESS
By New York Times News Service | January 15, 1993
Allstate Insurance Co. announced yesterday that it would stop selling homeowner insurance to most new customers in Florida and that it was studying cutbacks in coverage in coastal sections of New York.The move is a further sign that the insurance industry, after suffering more than $16 billion in losses from Hurricane Andrew, is cutting back on property coverage along America's most storm-prone coasts. Previously, cutbacks were announced by State Farm and other insurers in Florida and by Travelers Corp.
BUSINESS
By Andrew Leckey | December 30, 1992
Today Andrew Leckey answers readers' questions about investments.Q. I'm interested in investing in Baxter International, the medical services corporation. With the recent spinoff of its Caremark unit, would you recommend this stock as a good investment?A. Though now a bit smaller, this company still packs quite a punch.Buy shares of Baxter International (around $32 a share, NYSE) because the company should grow at a 15 percent annual pace even without high-growth Caremark, says Jean Queally-Swenson, analyst with Merrill Lynch & Co.Caremark was spun off primarily because it distributes products to the home, while the rest of Baxter distributes products to hospitals.
NEWS
By Sherry Joe and Sherry Joe,Staff Writer | November 30, 1992
Nothing could have prepared Kathy Landau for th devastation of Hurricane Andrew last summer, or for how it would consume the next few months of her life.The 36-year-old Elkridge resident arrived in Miami Beach to visit her grandfather soon after the storm hit. Before she knew it, she had become co-editor of Recovery Times, a weekly newspaper published for hurricane victims by the Federal Emergency Management Agency (FEMA).The four-page publication, printed in English, Spanish and Creole, provides telephone numbers and information on housing, transportation, business loans, meals and clothing.
NEWS
By Jackie Powder and Jackie Powder,Staff Writer | November 20, 1992
To students at Whispering Pines Elementary School in Miami, the 500 students from Hammond Elementary School in North Laurel are heroes.In September, after learning that the Florida school was severely damaged by Hurricane Andrew, Hammond students sent 720 packages of school supplies to Whispering Pines.Thank-you letters from the students have been arriving steadily at Hammond for the past few weeks and have been given a place of honor on a bulletin board in the school lobby."Dear Sammy, I love you for giving us the things.
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.
SPORTS
By Ross Peddicord and Ross Peddicord,Staff Writer | October 28, 1992
HOMESTEAD, Fla. -- The devastation left in the wake of Hurricane Andrew has been well-documented: 41 people dead, $20 billion in damages, 160,000 people homeless. In light of the human tragedy, the deaths of more than 1,000 horses are merely statistical footnotes.Yet two months after the Aug. 24 storm, residents of the Homestead area still have vivid memories of how horses were caught up in the destruction.Horses fleeing the hurricane ran into canals, drowning by the dozens. Others were killed by flying debris and falling trees.
SPORTS
By Ross Peddicord and Ross Peddicord,Staff Writer | October 28, 1992
HOMESTEAD, Fla. -- The devastation left in the wake of Hurricane Andrew has been well-documented: 41 people dead, $20 billion in damages, 160,000 people homeless. In light of the human tragedy, the deaths of more than 1,000 horses are merely statistical footnotes.Yet two months after the Aug. 24 storm, residents of the Homestead area still have vivid memories of how horses were caught up in the destruction.Horses fleeing the hurricane ran into canals, drowning by the dozens. Others were killed by flying debris and falling trees.
NEWS
By New York Times News Service | October 25, 1992
The cost of insurance for homes and automobiles is expecte to rise 10 percent or more in some states, and perhaps become harder to obtain, as a result of the staggeringly high losses to insurers from Hurricane Andrew and other recent disasters.The losses this year, estimated at more than $10 billion, come after a number of difficult years for the property-casualty industry.And they come while lower interest rates are reducing the return on insurance companies' investments. Consequently many companies will experience cash shortages in the next 12 months and will be under pressure to raise rates, analysts and industry executives say.Nonetheless, consumer advocates say many insurance companies are far healthier than they would have the public believe and are trying to use the catastrophes as an excuse to gouge the public.
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