Word: andrews
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...weather risk. The model assumed that a hurricane like Katrina couldn't happen in the same year as two other superstorms. Nor did it envision the off-the-scale damage caused by Katrina--275,000 houses destroyed, 10 times the number flattened by the previous worst-case model, Hurricane Andrew. Katrina prompted Lloyd's and other insurers to do some corporate soul searching that, surprisingly, could speed up the world's counterattack against global warming...
...that reason, some close industry watchers doubt whether Lloyd's apocalyptic tone will revise anything. Andrew Dlugolecki, an independent climate-change consultant and a veteran of the insurance industry, says, "It's good that they have spoken out, but I don't see them as serious in changing the insurance industry." That sentiment is echoed by Michael Brune, executive director of Rainforest Action Network, which has successfully lobbied Bank of America, Citibank and major U.S. retailer Home Depot to change their sustainable-development positions. "If you want to be an environmental leader, then you need to switch from relying...
...Whereas insurers used to pass off environmental liability onto government, they now believe that climate change is so serious a threat to their business that they can't wait for government to take the initiative. "The industry is crucial to the functioning of the global economy," says Andrew Logan, energy and finance program director at the ethical-investment organization CERES. As the storm season winds down, activists pray the industry doesn't lose focus. "If there isn't a big hurricane season this year, it could slow things down. That is the larger risk," says Logan...
...history that the things old men and old women know have become so useless as to be not worth passing on to grandchildren." (Absolutely true, although one wishes Frazier had held off on his sappy caveat, namely, that "desire trumps time," which smacks of a musical number by Andrew Lloyd Webber...
SENTENCED. Andrew Fastow, 44, former chief financial officer of Enron; to six years in jail; for his role in inflating profits, hiding billions of dollars in debt and enriching himself before the energy giant's 2001 collapse; in Houston. Explaining the lenient sentence--Fastow had agreed to serve up to 10 years when he pleaded guilty in 2004--Judge Kenneth Hoyt said Fastow's family had suffered enough, and cited his cooperation in the prosecution of ex-CEO Kenneth Lay. "Prosecution is necessary," Hoyt said, "but persecution...