Word: weather
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Dates: during 2000-2009
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...process into the baseball season, bickering over delegates, platform planks, rules and speaking rights before everyone swears loyalty to the long-settled nominee. All that, and possibly more, could happen on the other side this time. But Republicans have at least one organic strength that will help them weather this confusion: they are tops in a knife fight. So uncomfortable is the party with anything that resembles an unsettled race after New Hampshire that its armies typically loose upon one another every nasty charge and attack ad they can afford, desperate to slice the field down...
...finance, as in climate change, sometimes there are tipping points. In 2004, the Chicago Mercantile Exchange (CME) traded a modest $2.2 billion in weather futures - obscure derivatives that are linked to temperatures in 29 cities worldwide and that enable traders to bet on hot or cold spells. But the weather was unusually volatile in 2005: drought and floods in Europe, record heat in Australia and an active storm season capped by Hurricane Katrina in the U.S. By the end of the year, CME had traded $36 billion in weather futures...
...introduced an index in February comprised of bonds from firms with limited vulnerability to global warming. ABN Amro launched a Climate Change and Environment Index in March, tracking stocks in businesses like emissions reduction and water filtration. In April, UBS introduced a global-warming futures index based on the weather in 15 U.S. cities. Merrill Lynch launched an energy-efficiency index in July. And in September HSBC unveiled what it claims is the largest climate-change index to date, tracking the share prices of some 300 companies...
...sign of how quickly and cannily the investment world reacts to the scent of a new opportunity. An added attraction in this case is that the market for such products is so richly diverse. Not so long ago, traders in weather futures were energy producers, insurance firms and tourism ventures - almost exclusively companies that directly had something to gain or lose from a change in the weather. "Now," says Renaud Huck, CME Group's Europe associate director, "we have equity investors, hedge funds, commodity traders and weather traders." For them - and for the financial firms racing to sell products...
...opportunity to make good on a campaign promise—taking to the snow-sprinkled banks of the Charles River to join the members of the Alaska Klub for an 8 a.m. plunge on Saturday.On a morning where the real-feel temperature was 22 degrees, according to the Weather Channel, the newly elected leaders of the College’s student government proved their mettle, said Alaska Klub Co-President Robert J. Gage ’10.“I think the student body president should be able to jump into an icy river,” Gage said...