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Natural Disasters

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  • Villagers shelter at a destroyed house at Taparaboat village in the Mentawai islands, West Sumatra, on October 28, 2010 after a 7.7-magnitude quake triggered a tsunami that hit the area. The death toll from a tsunami that pummelled remote Indonesian islands soared to 343 on October 28 as questions mounted over whether an elaborate warning system had failed.

    Fresh volcanic eruptions raised fear of more damage as bad weather and rough terrain left thousands of tsunami victims stranded, the New York Times reports.

  • Perry: New Orleans Tourism Stronger Than Before Friday, 27 Aug 2010 | 2:50 PM ET
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    After Hurricane Katrina, as the city lost billions of dollars in tourism business, the New Orleans Convention and Visitors Bureau embarked on a mission to overcome unprecedented brand impairment. Today, the tourism industry stands taller, stronger than before.

  • Maligned Former FEMA Chief Visits New Orleans Friday, 27 Aug 2010 | 12:19 PM ET
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    Michael Brown, the former administrator of the Federal Emergency Management Agency and the initial poster child for all that went wrong in the aftermath of Hurricane Katrina, is visiting New Orleans for the fifth anniversary of the event that made him said poster child.

  • Hecht: Hope and Optimism for New Orleans' Future Thursday, 26 Aug 2010 | 1:50 PM ET
    Marine from Camp Lejeune, N.C., marks a home to indicate he found no occupants as houses in the lower Ninth Ward are checked for bodies or people who are still stranded more than two weeks after Hurricane Katrina hit.

    To really know if we have succeeded, to really know if we have created a New Orleans region better than before, we have to go out ten years. Here we will find the “new normal” that will come to pass after the Katrina money has run dry, and the economy is left to stand on its own.

  • New Orleans 2030: New Business, Housing, Jobs Thursday, 26 Aug 2010 | 12:57 PM ET
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    It's a tall order to transform New Orleans by 2030, but that's the aim of the city's new master plan—five years after Hurricane Katrina hobbled this historic place and the surrounding Gulf coast region.

  • Oil Spill Add to Housing Troubles Wednesday, 25 Aug 2010 | 12:22 PM ET
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    The BP Gulf of Mexico oil spill's economic fallout has added a cruel hurdle to the effort to relocate the Hurricane Katrina cottage dwellers, who live in the structures for free, paying utilities and rent only for the lots they live on—or paying no rent if they own the lots.

  • For Gulf Tourism, Perception is the Problem Wednesday, 25 Aug 2010 | 9:53 AM ET
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    Beaches have been cleaned of crude, the leak has been plugged and some cities never had oil wash ashore at all.  Still, tourists stay away from what they fear are oil-coated coastlines—a perception officials say could take years to overcome and cost the region billions of dollars.

  • New Orleans Levees Nearly Ready, but Mistrusted Tuesday, 24 Aug 2010 | 3:38 PM ET
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    Nearly five years after Katrina and the devastating failures of the levee system, New Orleans is well on its way to getting the protection system Congress ordered: a ring of 350 miles of linked levees, flood walls, gates and pumps that surrounds the city and should defend it against the kind of flooding that in any given year has a 1 percent chance of occurring.

  • New Orleans Needs More Time to Rebuild: Mayor Tuesday, 24 Aug 2010 | 11:40 AM ET
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    Five years after Hurricane Katrina destroyed New Orleans, the city's mayor said its recovery—slowed by the Gulf oil spill—will take at least another five years.

  • Russia's Bad Reputation Brings Good Returns Wednesday, 11 Aug 2010 | 4:48 AM ET
    The Spasskaya Tower in Red Square, Moscow.

    Russia's reputation as a dangerous country for investors actually gives foreigners brave enough to invest there an advantage, Jochen Wermuth, CIO of Wermuth Asset Management, told CNBC Wednesday.

  • Workers are seen clearing the beach of the oil residue that has washed up on Pensacola Beach from the Deepwater Horizon oil spill in the Gulf of Mexico on June 7, 2010 in Pensacola, Florida. Early reports indicate that BP's latest plan to stem the flow of oil from the site of the Deepwater Horizon incident may be having some success.

    Media coverage of the Gulf oil spill’s effect on the gulf has focused on tourist income lost by the waterfront towns with footage of empty beaches, restaurants and T-shirt shops dominates the news. Interviews with devastated business owners are heart-rending. But they always end with references to somehow hanging on until “things get back to normal.”

  • BP: The Inside Story Wednesday, 4 Aug 2010 | 5:00 PM ET

    It’s pretty safe to say that BP has been the most-watched company in the world for the last 100+ days since the fire and subsequent oil spill in the Gulf of Mexico began.

  • BP Says 'Desired Outcome' Reached in Static Kill Wednesday, 4 Aug 2010 | 4:59 AM ET
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    BP on Wednesday said its “static kill” operation to stem the leak at its Macondo well in the Gulf of Mexico appeared to have succeeded, a step the UK energy group described as a “significant milestone”.

  • CEO Blog: Are You Prepared For A Disaster? Thursday, 29 Jul 2010 | 12:59 PM ET

    Corporate America has a lesson to learn here—we must act as though people’s lives and livelihoods depend upon our decisions. Because they do. The best defense against disaster, whether natural or man-made, is to take steps now to ensure your organization is safeguarded against accidents, fortified to withstand them, and buoyant enough to recover in their wake.

  • Yoshikami: BP, CEO's, and Accountability Wednesday, 28 Jul 2010 | 10:32 AM ET
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    Looks like Tony Hayward will have his life back after all. British oil giant BP has replaced him with Bob Dudley, an American known for diplomacy. This move that might soften U.S. criticism of the way BP has been handling the oil spill in the Gulf of Mexico.

  • A Responsible BP Must Go Beyond Petroleum Tuesday, 27 Jul 2010 | 12:18 PM ET
    BP CEO Tony Hayward

    The biggest challenge for Dudley is going to be reconfiguring the company culture toward rigorous accountability. Going forward, corporate social responsibility (CSR) will have a new found meaning at BP.

  • Real Estate Agents Want BP Payback Wednesday, 21 Jul 2010 | 2:14 PM ET
    Workers clean up oil patches and tar that washed up on the beach from the oil spill in the Gulf of Mexico on June 8, 2010 in Orange Beach, Alabama.

    "I'm hearing from them constantly." That's what Kenneth Feinberg, the administrator of a $20 billion oil spill compensation fund, told members of Congress. Them? Real estate agents and brokers. "They make a credible argument," he adds.

  • Kaminsky's Call: Monitor BP Talks With Apache Monday, 12 Jul 2010 | 10:46 AM ET
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    Apache has a reputation of grabbing mature assets on the cheap and squeezing substantial value out of them. There is a distinct possibility that the reported $10-plus billion asset sale could include BP's Alaska operations.

  • BP, The Board Game Tuesday, 6 Jul 2010 | 11:49 AM ET
    BP Offshore Oil Strike board game

    In the "I'd never believe it if I didn't see it with my own eyes" category, BP once released a board game called "Offshore Oil Strike".

  • BP Spill Nears Somber Record as Gulf's Biggest Gusher Thursday, 1 Jul 2010 | 11:39 AM ET
    Workers use a vacuum as they continue the cleanup of oil in Barataria Bay June 19, 2010 near Grand Isle, Louisiana.

    BP's massive oil spill will become the largest ever in the Gulf of Mexico by Thursday based on the highest of the federal government's estimates, an ominous record that underscores the oil giant's dire need to halt the gusher.