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perverted_introvert
Joined: 06 Jun 2006
Posts: 2006
Location: Chicago |
Economic Incentive for Weather Modification
 Fri Mar 02, 2007 2:00 am
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Came across this article tonight:
http://www.comcast.net/news/finance/index.jsp?cat=FINANCE&fn=/2007/03/01/599975.html&cvqh=itn_buffett
"Chief Executive Warren Buffett said he plans to hire a young investment manager to help succeed him at Berkshire Hathaway Inc. as the insurance giant recorded a 29.2 percent jump in net income in 2006, helped by a lack of hurricanes."
""Our most important business, insurance, benefited from a large dose of luck: Mother Nature, bless her heart, went on vacation," Buffett said in his annual letter to shareholders. "After hammering us with hurricanes in 2004 and 2005 _ storms that caused us to lose a bundle on super-cat insurance _ she just vanished. Last year, the red ink from this activity turned black, very black."
Berkshire has said that it lost about $3.4 billion to hurricanes Katrina, Rita and Wilma during 2005."
"And last year Buffett said that Berkshire's insurance companies would charge more for megacatastrophe policies after the hurricane losses of 2005.
During the fourth quarter, which ended Dec. 31, Berkshire made $3.58 billion, or $2,323 per share. That is down 30.2 percent from the year-ago period when Berkshire made $5.13 billion, or $3,330 per share."
Nice guy.
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“To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee” |
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increase 1776
Joined: 07 Oct 2000
Posts: 3097
Location: Bizzaro World |
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Fri Mar 02, 2007 2:23 am
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Economic incentives are endless.Drought/ food prices go up,flood/should have paid your protection money,too cold/heating oil prices go up,too hot/ air conditioners mean more $$$$ for the electric companies.And the band played on.When the dollar is more important then your fellow human being,this is the crap we get.
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"The police are not here to create disorder.
The police are here to preserve disorder." Mayor Richard Daley |
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perverted_introvert
Joined: 06 Jun 2006
Posts: 2006
Location: Chicago |
| Yup
Fri Mar 02, 2007 2:28 am
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I completely agree. Just look at the Chicago area. ComEd is raising electric rates and claiming that if they don't get paid they'll have to start cutting power to their customers. Don't forget that their home company is Exxon who scored profits of 4.5 MILLION an hour during 2006!
http://finance.comcast.net/www/news.html?x=http://www.comcast.net/data/news/2007/02/01/576424.xml&cvqh=itn_exxon
If it's warm out, we turn on the AC, if it's cold out, we turn up the heat.
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“To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee” |
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