Killer Katrina

[Bucko]

Keeping my fingers crossed -- got lots of relatives in the New Orleans, Ponchatoula and Hammond areas. They have all scurried upstate to other relatives -- my wife's parents live mid-state and have 14 refugees in their home.

[hotwine]

Crossing ours too, Buckster. That's one big-ass storm! Taking dead aim at NO and nine oil refineries. Markets will probably take a beating tomorrow. Can't believe those long lines on IH10 and at the Superdome.

My relatives are in Ruston, far enough inland to probably not even get wet.

[Thomas]

165 mph. That is not just a storm, that is a major catastrophe, especially in a place that is already below sea level. I cannot imagine what tomorrow night will be like in NO.

[Kcwhippet]

Judy's supposed to be in NO on business in two weeks. While I'm glad she isn't there now, we're praying for everyone living down there. My family lost one house in a hurricane and had other damage in other storms when we were living on coastal NC back in the 50's. Not any fun at all, and I sure hope these folks come out of this better than it looks like they may.

[Bucko]

Thanks for the well wishes. I doubt any trips will be ongoing if the hurricane plays out as predicted. We can pray it turns east a bit.

[winoweenie]

Here's hoping ole Kat will decide to lower her petticoat and get off the accellerator before hitting NO. Have tried reaching our relatives in Crystal Beach Tx all weekend to no avail. WW

[Georgie]

So scary. I've been through some hurricanes here at the Jersey shore, at it is no fun. I have a friend in Gulf Shores, AL whose house was damaged last fall during Ivan (I think it was Ivan). She just received her insurance check on June 30th, and now is facing another storm. Too much.

[Bucko]

Well, wonder of wonders, it does look like Katrina turned east a bit, sparing New Orleans the savage eastern eye wall.

[Innkeeper]

As we all know now, those who went to sleep last night thinking the worst was over were saddly mistaken. We all need to think about or pray for the victims, and consider contributing to a worthy charity. Also get ready to pay an additional $.50 for gas in a few days!

[TheEngineer]

Woah...just watched that Lost program. I spend a significant amount of time in LA and have many friends, colleagues and clients down there. Unbelieveable.

The only good news is that those who got out also may have mentally prepared themselves to have very little to go back to. I know the people I've spoken to are very resilient and insist on rebuilding. My thoughts and prayers.

[Bucko]

It is funny what some people say or think about in times like this. We just talked to Carole's aunt who is staying with her parents.

Her aunt had a call from a neighbor who managed to get back to the small town of Covington to survey the damage. The neighbor said, "Your house is in pretty bad shape. A tree split it almost in half and there is flooding, but your chickens seem to be okay. We got the eggs."

There is humor there, but no one has time to laugh right now. They are just trying to survive.

[hotwine]

It's unbelievable. Hard to look away from Fox News or Bloomberg. Food, water, sanitation, shelter, fuel, all in critical supply.

Get ready for $3.50/gal national average for regular gasoline by Monday, $4 soon thereafter, a peak of $6 before the end of the year; may stabilize early next year at $3.50. People who have thought nothing of long daily commutes will be re-thinking their priorities; will eventually impact real estate markets, auto sales, business and leisure travel, hospitality industry. Could also soon send some airlines into bankruptcy. Impacts across the entire economy.

[wondersofwine]

We aren't going to have an airline left in most cities unless the Government subsidizes them! So many big carriers were already in serious financial trouble. I know many of the European airlines are heavily subsidized. A few smaller airlines are doing okay (until the new price jump for jet fuel) but they serve a limited number of cities or a particular region and we really depend on large airlines to connect to some of the smaller cities. A city that loses airline service is going to suffer economically as businesses choose to locate elsewhere.

[hotwine]

Consolidation of the airline industry is long overdue. Delta is on life support (share price is under a buck), with American and Northwest not much better off. Southwest Air may yet be able to cherry-pick competitors' assets.

Government subsidies are the last thing I wish upon the airlines; death of their labor unions would give them new life.