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As Storm Rita Strengthens New Orleans Mayor Suspends Resettlement

September 19th 2005

As Storm Rita Strengthens New Orleans Mayor Suspends Resettlement

Rita Projected 5 day Path

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As Rita moves towards the Florida Keys residents there board up their windows and evacuate.  Rita has picked up steam in the Bahamas and is expected to have hurricane strength by the time it hits the keys.

About 80,000 people were ordered to evacuate the Keys according to CTV news.  There has been a voluntary evacuation of Miami-Dade residents accounting for 134,000 costal residents and those living in Miami Beach and Key Biscayne. 

There is concern because the storm is expected to enter the Gulf of Mexico.  The projected path appears to be south and west of New Orleans but Mayor Ray Nagin is suspending the resettlement of parts of the city.  It is possible the storm may hit the city in the next few days.

 
Hurricane Information

Oil prices are expected to rise possible causing US stocks to drop according to Bloomberg.  Some companies like UPS (United Parcel Service) and GM (General Motors) are sensitive to oil prices.

To make matters worse the Feds are considering raising interest rates for the 11th time in 15 months.  According to Bloomberg stocks slid amid predictions by economists that the Fed will raise its benchmark interest rate tomorrow, rather than pausing in the wake of Hurricane Katrina.

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By Dan Wilson
Best Syndication Staff Writer

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Keywords and misspellings:  Bahama center miles per hour Phillipe Phileppe Phillepe Reta Texas New Orleans direction


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Copyright 2005 Best Syndication                                            Last Updated Saturday, July 10, 2010 09:39 PM