Word: lake
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...latest examples is Chevron Corp., which is building new offices in the northern suburbs, 40 miles north of the city across Lake Pontchartrain, and plans to transfer 550 employees from New Orleans to Covington by the end of the year. That would take well-paid people out of downtown New Orleans, a move that will impact the central business district's economy. "We made the decision in May, 2006, when our employees were making important housing decisions," says Qi Wilson, a Chevron spokesperson. The company, like many employees, decided the north shore offered better security should another hurricane strike, along...
...make a decision right now," he says. "They're saying, 'okay, if the infrastructure of the city is not going to be there, what's the quality of life for my employees going to be?' That's the reason the Chevrons of the world are moving across the lake. They're not ready to leave the state, but if there's another storm, they don't want their employees to have to go through all this again...
There is nothing like a Bordeaux, a Chianti or a Riesling to evoke the taste and scent of Europe in a wine glass. The problem, according to the "wine lake" cliché. is that the continent is swimming in the stuff, thanks to E.U. farm polices that have sought to keep prices stable by stockpiling unsold wine. The current unsold inventory now adds up to more than a year's production - enough to fill 8,000 Olympic-sized swimming pools...
Next week, however, the European Commission hopes to begin draining the lake by overhauling the subsidies and quotas that have spurred overproduction, widely recognized as untenable for Europe's winemakers and its taxpayers. The Commission proposals, due to be released on Wednesday, aim to transform the way vines are planted and how wine is marketed, recognizing that too much of the E.U.'s $1.8 billion annual wine budget goes to compensate farmers for producing wine no one wants to drink. That wine is either destroyed, or - at additional cost - transformed into industrial alcohol...
Previous attempts at reform, however, have been met with hostility by the governments of Europe's wine-producing countries. And in the face of the inevitable backlash, the question is whether Fischer Boel will be able to drain the lake, or merely decant...