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Ken Feinberg just might have the most difficult job out there. He has worked as mediator/administrator in the wake of tragedies and natural disasters such as 9/11, the shootings at Virginia Tech, Hurricane Katrina and the Holocaust slave labor litigation. He is currently serving as the administrator for the $20 billion BP oil spill claims [...]
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According to the office of Prime Minister Naoto Kan, the cost of Japan’s rebuilding efforts following the earthquake may exceed $300 billion, which would easily make it the world’s most expensive natural disaster on record. (Hurricane Katrina, with an estimated $125 billion, inflicted the previous-record amount of damage.) There is often a big difference between [...]
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Zurich has unveiled its list of the “Top Ten Megadisasters” of the past decade. The usual suspects pretty much (listed chronologically — not by their “overall business impact,” which is the basis for the list). 1. 9/11 – 2001 2. SARS – 2003 3. 2003 U.S. / Canada power outage – 2003 4. 2004 Indian [...]
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On August 29, 2005, the levees that were supposed to protect New Orleans failed catastrophically. The United States Army Corps of Engineers simply did not do the job it was tasked to do. As such, it was found liable for the flooding in court. “It is the court’s opinion that the negligence of the Corps, [...]
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