What’s New: In Brief (September 05, 2007)

EQUECAT, Inc., a subsidiary of ABSG Consulting Inc. is warning that a category 5 storm with a track through the heart of the Gulf of Mexico U.S. offshore energy platforms could generate producer damage and loss of more than $65 billion [approximately Cdn$68.48 billion]. Property damage alone could exceed $35 billion [Cdn$37 billion] and losses due to business interruption and reduction in production capacity could add another $30 billion [approximately Cdn$32 billion] to the loss, Richard Clinton, president of EQUECAT, said in a statement.Industry insured losses are more difficult to estimate due to the changes in allocated insurance capacity, policy terms and limits following the large losses from 2004-2005 hurricanes, but could certainly be in the $15 billion [approximately Cdn$16 billion], he added.

PPG Industries Envirobase High Performance waterborne basecoat system was used to paint the #2 Miller Lite Dodge Charger, driven by Kurt Busch in the NASCAR Nextel Cup Series.Waterborne specialists at PPG headquarters in Strongsville, Ohio formulated Penskes signature Miller Lite blue for the project, a PPG release says.Then PPG technical support specialist Jim Skal travelled to the Penske Racing facility in Moorseville, North Carolina, where he worked with Cesar Bustos, head painter for the Penske Racing Miller Lite vehicles.I was amazed at how easy it was to spray waterborne paint, Bustos said in a statement.It took me a few minutes to adjust to the fact that this was water based, but I was very impressed with how it sprayed and how it looked.