Tag: Cayman Islands

Offshore Taxes

The president announced a plan today to lessen the advantage of using tax havens. There will be kvetching. I feel little sympathy.

attessa.jpgIs this what he’s talking about? Dennis Washington is a very wealthy man with one of the largest yachts in the world. He is an American and made his money here. The yacht is flagged in the Cayman Islands. I took the photo in Cabo San Lucas, Mexico.

trump-jet.jpgThe same question goes for Donald Trump’s jet. It’s callsign is VP-BDJ. I wrote about this in more detail in February 2006.

Why is Donald Trump’s jet registered on a British Island? Whatever the reason I suspect I don’t benefit.

Gustav And The New Orleans Quandary

The damage in New Orleans was hurricane related, but it wasn’t the damage you expect in a hurricane. On the Mississippi coast structures were blown apart. In New Orleans most buildings were intact until they were flooded.

As I type this, Gustav is somewhere near the Cayman Islands, picking up strength and heading toward the Gulf of Mexico. The Gulf is warm. Gustav will strengthen some more.

For the past few days the official Hurricane Center Track has pushed Gustav toward the Louisiana coast sometime late Monday/early Tuesday. The latest center of the track would bring landfall west of the Mississippi over a swampy, sparsely populated area near Vermillion Bay. That would put New Orleans on the stronger side of the storm, but possibly far enough away to escape the worst. Katrina struck on the opposite side of New Orleans–actually on the Mississippi coast. For Katrina, New Orleans was on the weak side!

Monday’s a long way off. The track will certainly shift somewhat by then.

There is a misconception most people have about Katrina. I’m writing tonight to put that part of the Katrina saga in perspective. The damage in New Orleans was hurricane related, but it wasn’t the damage you expect in a hurricane. On the Mississippi coast structures were blown apart. In New Orleans most buildings were intact until they were flooded.

I’m not saying there wasn’t damage before the water–there most certainly was. But New Orleans wasn’t flattened by a hurricane. It didn’t receive strong and sustained hurricane force winds. It was not the ‘worst case scenario’ storm New Orleans had feared.

I wrote this as Katrina began to pull away Monday evening.

Katrina Comes Ashore 08/29/05 9:21 PM

New Orleans wasn’t totally laid to waste. There has been plenty of damage, and once we get out of the ‘fog of war’ we’ll find plenty more. The coasts of Alabama and Mississippi really took the brunt of Hurricane Katrina. That was more than expected.

After the fact, I still agree with the decision to empty out New Orleans. Yes, some people will crawl out of the woodwork to say they rode it out and it wasn’t that bad. That’s not the point.

At this point the New Orleans hurricane damage from Katrina wasn’t that bad. The damage we all saw didn’t start until later Monday night long after the storm was over. It was as if the Katrina unfolded in slow motion.

Bad News For New Orleans, Out of Left Field 08/30/05 3:02 AM

Rick Sanchez was on the air, speaking by phone with someone from Tulane Hospital in New Orleans. The hospital’s spokesperson was talking about water – rising water.

The hospital had seen no real flooding while Hurricane Katrina passed by, but tonight, water had begun rushing in and it was rising at an alarming rate.

I could hear the fear in her voice as she described the water level rising an inch every five minutes. That’s a foot an hour. Already there was six feet of water outside the hospital. Soon, water would reach the level of their emergency generators on the second floor.

Sanchez was taken aback. I’m not sure he originally understood what she was saying. It was so unexpected – so out of context.

She said a levee keeping Lake Ponchartrain out of New Orleans had been breached. The cut in the levee was two blocks long and water was rushing in unimpeded. Even if there were pumps working, and she wasn’t sure there were, they wouldn’t be able to keep up with this deluge.

On CNN, Rick Sanchez kept asking questions, but it was obvious this woman wanted to get off the phone. Speaking to him wasn’t going to help her.

I heard terror in her voice.

The hospital had to get its patients out. Its patients were by and large critical. The only way to move them would be by helicopter and FEMA would be needed for that.

The other all news stations are in their usual reruns. I have no way of knowing if this is true. If it is, this is New Orleans’ worst fears are realized. Lake Ponchartrain could inundate the city.

Here’s my point. If Gustav gets strong (likely) and hits just west of New Orleans (possible) there will be a different type of damage in the Crescent City. New Orleans could just get blown over. Nothing FEMA or the Corps of Engineers has done would prevent this kind of destruction.

I’m not sure which scenario is worse–what happened in ’05 or what’s possible in a few days. They are not, unfortunately, mutually exclusive scenarios.

Gustav Now On My Radar

The route is totally different from Katrina’s, but the projected destination is eerily similar.

Three years ago today I was on the phone with Farrell’s mom Ruth, try to get her out of New Orleans. Here’s what I wrote that day. Now I’m worried about New Orleans again.

Gustav is south of Cuba, heading toward Jamaica and the Cayman Islands. The route is totally different from Katrina’s, but the projected destination is eerily similar.

Much of the controlling mechanism behind hurricanes is seasonably predictable. At different times in the hurricane season different areas are favored for development and track. It’s not a big surprise a potential hurricane is aiming at the mid-Gulf Coast on Katrina’s anniversary week.

Gustav will gain strength. It’s tough to think it will go anywhere but the Gulf. I’m scared it will plow into the Gulf Coast states. I hope I’m wrong. It’s a hope I have too often during the hurricane season.

You Never Forget Your First… Storm

So, here we are on June 10, and the first tropical system has formed in the Caribbean. Winds are ‘light’ at the moment. The storm remains an unnamed (only numbered) tropical depression.

Last year’s first storm formed on June 8 and in a similar place. It became Arlene and was an early non-entity.

People in Jamaica and the Cayman Islands have been dealing with torrential rains from this system for the past few days. We’re talking feet of rain, not inches!

I’m curious to see how this hurricane season plays out. For me, there’s awareness of every system – after all, it’s my job. Most people only perk up for the big ones… or at least that was the case until last year.

Will people hang on every word about storms destined to stay with the fishes? Probably – at least for a while. In years past, we often disregarded them on TV. This year, disregard at your own peril.

When this year’s season is over, and the hurricane count is down from 2005 (as it almost certainly will be), will those who make the connection between tropical systems and global warming make excuses? Probably.

If the count is up, I’ll certainly reevaluate my beliefs.

This first system… this little Alberto wannabe… looks like it will cross Florida and then parallel the East Coast. This time of year it’s tough for a storm to maintain any strength in the relatively chilly Atlantic. It’s also tough for a storm to have any westward motion – critical for it ‘hitting’ land from the Atlantic.

As far as I can tell, there’s never been a landfalling hurricane on the East Coast that moved through the Gulf.

Lots of eyes will be on this system. Lots of eyes will be on the Hurricane Center and anyone who forecasts the weather.

The “A” storm is usually pretty docile. Sort of like training wheels for weathermen. Except when they aren’t – Andrew, for instance.

Those were the ‘good old days.’ Back in 1992, Andrew didn’t form until mid-August. By August 16, 2005, we’d already seen Irene.

Blogger’s note: On the right side of the page, you’ll see links to the Hurricane Center’s official forecasts. Those are dynamic links which update through the season dozens of times a day.

Doing Our Taxes

The distinguished looking man on the left is Mark Everson. You probably don’t know him. You’ve probably thought of him. He’s the Commissioner of the Internal Revenue Service.

Hey, Mark! I’ve just done my taxes. What exactly were you guys thinking?

I am a lucky guy. I make a good living. With few investments outside my home, cars, or retirement account, my taxes should be easy. After all, I’m an employee. I can’t deduct much of anything.

Even using an online service, it still takes hours! I tried to get it right. Can anyone be sure they did?

Don’t get me wrong. I’m willing to pay taxes to pay for government services and programs. Sure, I don’t agree with everything you guys in Washington/Hartford/Town Hall are doing, but I’ll pay my fair share. I just can’t seem to figure out what that is.

Why should doing my taxes be so stressful? Mark, are you with me?

The commish is probably a bright guy. He went to school here in New Haven at Yale. Yale is no guarantee of brightness (insert your own joke here since the last three presidents have gone to Yale), though it’s a reasonable reassurance.

Why can’t I, a former math team member, easily blow through this thing without worrying I’ve done something terribly wrong and will end up bunking with a former politician in Danbury, or worse? Why is it so difficult? Why is it so confusing?

Is there a reason you’ve got multiple forms, all named 1099? There’s 1099B, 1099DIV, 1099OID… I could go on. This is like George Foreman naming all his children George – and you know how we feel about that idea!

Then, there’s the question of money for Steffie’s college expenses. We were good parents and put something away when she was a little girl. Exactly how much did we originally invest in the late 80s? Uh – I’ll get back to you on that.

In the past, I’ve had relatives who worked backwards in their tax forms. In other words, they decided what they thought would be a fair amount for them to pay, then worked from there until the other numbers made that happen. I don’t do that.

I’m not looking to move my geofffox.com headquarters to the Cayman Islands or Bermuda. Should I? That really pretty yacht we saw in Cabo San Lucas, owned by a guy from Montana, flew the Cayman flag. Maybe he’s on to something?

A few years ago, Stanley Works, the tool company in New Britain, CT, tried to move its offices offshore. Lots of companies have. Even our cruise ship, Norwegian Caribbean’s, “Norwegian Star,” was registered in the Bahamas. That’s not part of Norway nor the US.

All I want is an easier tax system. Since none of the special exemptions I have to ponder are for me, you’ll probably have to tick off people with more influence than I have. C’mon Mark, you can do it.

Finally, am I being graded on spelling?

Quoted In The Norwich Bulletin

I think I’ve become the low hanging fruit of weather quotes. I was included in an article published today in the Norwich Bulletin.

Use the link above if you want to read it, though I’m attaching it to the jump should that link go stale.

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Cayman Island Earthquake

I was surprised, to say the least, to read about a strong earthquake tonight close to the Cayman Islands (20 miles southeast of Georgetown, the capital). Actually, there are a number of surprises for me here and I might as well run them down.

Though I knew there are plates upon which all of the Earth’s surface floats, I didn’t realize there was a boundary between two plates in the Caribbean. They grind against each other slowly, but constantly. The relative motion is only 6/10″ per year.

Of course one year is nothing to the Earth. Over 20 years that’s around a foot of motion. Over decades and centuries… well, you get the idea.

At some point something’s gotta give… and it did tonight. The quake was magnitude 6.7&#185. That’s enough to be very scary and even more destructive. I have not yet heard any damage reports from the Caymans. Magnitude alone is not enough to predict destruction.

My second surprise was seeing actual ‘shock reports‘ from the Cayman Islands. This is actually an interesting idea from the United States Geological Service. They ask people to check in and rate the quake! It’s like Dick Clark on American Bandstand circa 1965.

As I type this there are 189 reports from the Caymans and one from Haiti. Each locale is averaged to show how the quake was felt.

I think the USGS does an amazing job keeping up with earthquakes. Their website is fast and thorough. I’m a math and science guy, so it appeals to me more than most. Still, if you’re curious, it’s worth looking at.

And, to get my own little plug in, there’s a link to the most recent large earthquake in the column on the right: Latest Large Earthquakes Worldwide.

&#185 – Remember Richter? The Richter scale is no longer in use by geologists.

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