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...company propose conventional coal plants on the scale of TXU is pretty disturbing for shareholders," says Dan Bakal, director of Electric Power Programs at Ceres, a coalition of investors, environmentalists and public-interest groups. Miner-tough Mike McCall is having none of that argument. Asked if he's worried about the increasingly coal-fired environment his son, a high school freshman, will grow up in, he answers quickly, "No, because we are reducing emissions too. That's the beauty of what we're doing." The coal debate, it seems, is just getting fired...
...also swept away the insurance industry's trust in its catastrophe modeling, the tool it depends on to evaluate bad-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...
...climate continues to warm and catastrophic weather events increase, insurers will suffer or gain on the basis of their environmental-risk projections. If they get it wrong--as when many U.S. insurers were sideswiped by large-scale asbestos-pollution claims--or if they are blindsided by the kinds of terrorist attacks that simultaneously generate claims for lives and business lost and damage to real estate and infrastructure, they could find themselves insolvent...
Today the top 20 radio groups own at least 3,000 stations out of 11,000 outlets. In came economies of scale, calcified playlists, ROI and Dr. Laura, and out went boss jocks and news on the half-hour. Corporate stations generated some $18 billion in revenue last year, vs. the independents' $394 million, reports BIA Financial Network Inc. Along the way, though, Big Radio lost a good chunk of bored 18-to-24-year-olds, many of whom have defected to their iPods or the indies. Satellite radio is another threat, but declines...
...indicative of the scale of Saddam's brutality that there are some in Dujail who believe the current bloodshed is preferable to what preceded it. "Of course, now it is much better," says Ali, speaking by phone from Dujail. "Saddam's terrorism would go on forever if he were still in power." Ali's brother Ahmed, witness No. 1 in the Saddam trial, doesn't know when he will leave the Green Zone or what awaits him if he does. But after spending his high school years in prison and losing most of his brothers, he says he is willing...