Word: houstons
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Lynda Clemmons, vice president at Enron, a Houston energy concern that buys and sells weather derivatives, says the concept emerged when companies' needs weren't being met by traditional insurance. "Insurance companies were saying, 'We can help you if a hurricane blows down your factory but not if it's 6[degrees] warmer this winter and your revenue drops,'" Clemmons says. The deregulation of the energy industry in 1995 meant that a new category of highly weather-sensitive businesses was suddenly forced to make a profit and became very interested in a product that could protect it from weather risks...
Bush's environmental record has Al Gore licking his chops. Texas leads the country in a frightening array of toxin- and carcinogen-release statistics, and last year Houston passed Los Angeles for the dubious distinction of America's smoggiest city. Though some emission levels have declined in recent years, four metro areas are flunking EPA clean-air standards. To achieve compliance, Houston will have to reduce nitrous-oxide emissions as much as 90%. Faced with this crisis--and the presidential race--Texas officials are moving quickly to draw up new plans to reduce emissions. And Bush has asked his regulators...
...argue that they will only increase irresponsibility. Laurie Larson of Project Cuddle, a counseling service for expecting mothers in Costa Mesa, Calif., says the amnesty laws may encourage girls to abandon their babies. For Gwenn Square, the debate is personal. She has never moved far from the ditch in Houston where her mother abandoned her 40 years ago, hoping she might someday look for her. "I suffered all these years with no identity," she says. "I'm an offspring of nobody." The new laws and programs, she says, condone a crime and excuse the mother's behavior...
...BASEBALL The major league version will be wildly popular but just in New York City, Los Angeles, Houston and Phoenix, Ariz. The rest of the teams will have folded long before the end of the century, and only these four megalopolises will have the population base, and thus the cash, to support utility infielders making $100 million a year. The minor leagues will flourish too, in such cities as Toronto and Seattle, where ancient ballparks like the Skydome and Safeco Field will allow fans to remember simpler times, when the game was pure and hitters actually...
...addition to his faculty experience, he has authored scholarly articles on Charles Hamilton Houston and Thurgood Marshall. He has been a director of both the Academy of Political Science and the Academy of American Poets...