News + current events
- Thread starter srimes
- Start date
Sadly, I just looked (because I had a hunch from my civil engineering experience), and most of those former homes are in the current FEMA 100 year floodplain. FEMA can't make a current owner "floodproof" their homes, so they were grandfathered. You may think, "What does floodplain have to do with fire damage?" Unfortunately, in the event of a catastrophic loss, the rules require that the re-build be flood-proofed if the loss amount is 50% or greater of market value.
With that level of destruction, it's at least that high. Assuming that local community participates in the National Flood Insurance Program (the vast majority do because there's no FEMA money in the event of a flood if they don't), all those people will have to build homes on stilts to replace them, and their insurance may not cover that expense, which can double the re-build costs.
Sadly, I just looked (because I had a hunch from my civil engineering experience), and most of those former homes are in the current FEMA 100 year floodplain. FEMA can't make a current owner "floodproof" their homes, so they were grandfathered. You may think, "What does floodplain have to do with fire damage?" Unfortunately, in the event of a catastrophic loss, the rules require that the re-build be flood-proofed if the loss amount is 50% or greater of market value.
With that level of destruction, it's at least that high. Assuming that local community participates in the National Flood Insurance Program (the vast majority do because there's no FEMA money in the event of a flood if they don't), all those people will have to build homes on stilts to replace them, and their insurance may not cover that expense, which can double the re-build costs.
What's more, this is likely to break the insurance industry there. Insurers were already canceling policies to reduce risk as they weren't legally allowed to raise rates enough. Many of these houses were already without insurance, and those still covered may find their company doesn't have enough money to cover these claims.
Price fixing creates shortages. This is mostly a man-made disaster on MANY levels.
Real estate tycoon tells California to 'revolt and protest' Democrats who could have prevented fire disaster
Grant Cardone’s Malibu home suffers severe damage in LA-area wildfires
"You cut budgets when you should have increased them. You said you were ready but you weren’t. You were wrong on both counts. Hold yourselves accountable and step down," Cardone told Fox News Digital on Thursday.
"My message to California – revolt and protest. Demand that those in power are held accountable."
Cardone allegedly owns one of the last-standing homes on Carbon Beach, which recently fell victim to the five wildfires engulfing the Los Angeles area. At least five people have been killed and more than 29,000 acres remain burning as of early Thursday, according to Cal Fire.
While Gov. Gavin Newsom has been on the ground surveying the state’s disaster response, Cardone is echoing calls made recently by President-elect Donald Trump that Newsom should resign "immediately," citing "gross incompetence."
He told Fox Digital he wants Los Angeles Mayor Karen Bass to resign as soon as possible, too.
"I've lived there 35 years in that area. And for years I've said this is a tinderbox waiting to go off… There's hundreds of billions of dollars of damage across California that could have been prevented if California actually had its priorities correct," Cardone additionally said during an appearance on "Mornings with Maria."
"This is a corrupted government that depends on the federal government under emergency situations. They make more money in emergencies than they do by just planning out their budget," he continued. "They said we had plenty of water, but didn’t have pressure. If they didn't spend $12 billion on high-speed rails going to Vegas or basically nowhere, you would have that money to, one, bury electrical and provide pressure to all the [water] hydrants."
Cardone further criticized: "It's a mismanagement of priorities. The state of California, for the last 25 years, is more interested in freak, fringe groups' agendas than they are the population of California… Maybe this is going to be it, when the people of California finally have had enough and start voting conservative, common-sense politicians or business people into government to manage their budgets."
FOX Weather has reported initial estimates place the damage costs at around $52 billion, potentially making this the costliest wildfire event in U.S. history.
City government data also shows that for the 2023-2024 fiscal year, Los Angeles budgeted $837 million for the Los Angeles Fire Department (LAFD), which was roughly 65% the size of the homeless budget of $1.3 billion. An analysis by L.A.'s city comptroller last year found that roughly half the budget for homelessness went unspent.
"Elon Musk is attempting to go to Mars, and we can't get pressure and water to hydrants? We have plentiful water. We're on the Pacific," Cardone reacted. "They're going to try to make this out to be a climate-warming agenda… This was just mismanagement, a lack of priorities, the government trying to handle fringe groups and support these weird agendas rather than the things that really concern the California people."
Grant Cardone’s Malibu home suffers severe damage in LA-area wildfires
"You cut budgets when you should have increased them. You said you were ready but you weren’t. You were wrong on both counts. Hold yourselves accountable and step down," Cardone told Fox News Digital on Thursday.
"My message to California – revolt and protest. Demand that those in power are held accountable."
Cardone allegedly owns one of the last-standing homes on Carbon Beach, which recently fell victim to the five wildfires engulfing the Los Angeles area. At least five people have been killed and more than 29,000 acres remain burning as of early Thursday, according to Cal Fire.
While Gov. Gavin Newsom has been on the ground surveying the state’s disaster response, Cardone is echoing calls made recently by President-elect Donald Trump that Newsom should resign "immediately," citing "gross incompetence."
He told Fox Digital he wants Los Angeles Mayor Karen Bass to resign as soon as possible, too.
"I've lived there 35 years in that area. And for years I've said this is a tinderbox waiting to go off… There's hundreds of billions of dollars of damage across California that could have been prevented if California actually had its priorities correct," Cardone additionally said during an appearance on "Mornings with Maria."
"This is a corrupted government that depends on the federal government under emergency situations. They make more money in emergencies than they do by just planning out their budget," he continued. "They said we had plenty of water, but didn’t have pressure. If they didn't spend $12 billion on high-speed rails going to Vegas or basically nowhere, you would have that money to, one, bury electrical and provide pressure to all the [water] hydrants."
Cardone further criticized: "It's a mismanagement of priorities. The state of California, for the last 25 years, is more interested in freak, fringe groups' agendas than they are the population of California… Maybe this is going to be it, when the people of California finally have had enough and start voting conservative, common-sense politicians or business people into government to manage their budgets."
FOX Weather has reported initial estimates place the damage costs at around $52 billion, potentially making this the costliest wildfire event in U.S. history.
City government data also shows that for the 2023-2024 fiscal year, Los Angeles budgeted $837 million for the Los Angeles Fire Department (LAFD), which was roughly 65% the size of the homeless budget of $1.3 billion. An analysis by L.A.'s city comptroller last year found that roughly half the budget for homelessness went unspent.
"Elon Musk is attempting to go to Mars, and we can't get pressure and water to hydrants? We have plentiful water. We're on the Pacific," Cardone reacted. "They're going to try to make this out to be a climate-warming agenda… This was just mismanagement, a lack of priorities, the government trying to handle fringe groups and support these weird agendas rather than the things that really concern the California people."
Sadly, that's exactly how the National Flood Insurance Program (NFIP) came about. Private insurers gave up trying to insure high risk properties due to excessive and constant flood losses. Of course, the Federal Gubment stepped in and said, "we can do that!" Guess what, they can't. The NFIP is in the red most of the time and requires funding injections from Congress. In other words, the rest of us are paying for flood damage claims.
If you can't tell, I'm a strong advocate of abolishing the NFIP. The market will fix the problem if the NFIP disappears. If you can't get a mortgage because you can't get insurance, only people who can pay cash for property in flood zones will own them. They will then have to chose between risking a total loss in a flood, or building it to resist flood damage (house on stilts). Market prices will fall, but there will always be people who can afford to pay cash (just fewer potential buyers), so it won't be worthless.
I have a feeling that many will. Like Katrina did. By the way, the NFIP drove a lot of that migration due to the requirement to re-build with floodproofing costing too much.
KennethS
TJ Addict
Unfortunately, Phoenix will likely be the target of many evacuees. We’re already suffering from Kalifornication and don’t need any more.
Reminds me...
Before I left California, one of my co-workers came into my lab and made a comment about "One more Democratic vote in Florida"... Where/why he got this idea, I don't know. My response: "Excuse me? Excuse me? I am NOT going to Californicate the state of Florida!" He could NOT get out of my lab fast enough!
Shit. All ya gotta do is look at the guy to know he's a shyster. I'd say he looks like a used car salesman, but that would be an insult to used car salesmen everywhere.
Sadly, I just looked (because I had a hunch from my civil engineering experience), and most of those former homes are in the current FEMA 100 year floodplain. FEMA can't make a current owner "floodproof" their homes, so they were grandfathered. You may think, "What does floodplain have to do with fire damage?" Unfortunately, in the event of a catastrophic loss, the rules require that the re-build be flood-proofed if the loss amount is 50% or greater of market value.
With that level of destruction, it's at least that high. Assuming that local community participates in the National Flood Insurance Program (the vast majority do because there's no FEMA money in the event of a flood if they don't), all those people will have to build homes on stilts to replace them, and their insurance may not cover that expense, which can double the re-build costs.
I was wondering if they will even be allowed to rebuild seeing as how there have been a lot of new rules regarding the beaches put in place after those homes were already built.
Link
Walmart unveils new logo in first ‘brand refresh’ in nearly 2 decades
Walmart last redesigned its logo in 2008, adding iconic yellow spark
I can just imagine the retarded cringey shit the upper management said about this in quarterly meetings and such
about how it embodies their ethics and pushes them forward into a modern landscape of evolving Walmart
If you didn't show them to me side-by-side, I would have never noticed.
Maybe that will stop the influx of people from other states
A Toyota subsidiary will pay $1.6 billion in a U.S. emissions scandal
Hino Motors employees tampered with tens of thousands of emissions tests
The Japanese automaker was charged with conspiracy to commit fraud in U.S. federal court in Detroit for unlawfully selling more than 105,000 heavy-duty diesel engines into the U.S. between 2010 and 2022 that failed to meet emission standards, according to court documents. It made about $1.087 billion from its actions.
The misconduct first came to light in March 2022, when employees were revealed to have tampered with test results on engines used in more than 643,000 vehicles, including tens of thousands subject to a recall. Toyota removed Hino from a major Japanese truck consortium, and four officials, including three executives overseeing production and compliance, resigned.
A committee commissioned to investigate the scandal blamed it on an environment in which workers were forced to meet a strict pace of work and engineers felt they couldn’t challenge their bosses. A poor work environment was also found at Toyota’s Daihatsu subsidiary as part of an investigation into its recent safety scandal that tormented the Japanese auto industry last year.
“Hino’s actions led to vast amounts of excess air pollution and were an egregious violation of our nation’s environmental, consumer protection and import laws,” Assistant Attorney General Todd Kim said in a statement.
As part of its agreement to resolve multiple civil and criminal allegations, Hino agreed to plead guilty to engaging in a multi-year conspiracy and serve a five-year probation, during which it will be prevented from importing diesel engines into the U.S. The deal is awaiting approval by a federal judge in Michigan.
Hino ran afoul of several federal agencies, including the Environmental Protection Agency, the FBI, and the Department of Transportation, along with the state of California. The settlement includes a criminal penalty of $521.76 million, $442.5 million in civil penalties, and $236.5 million to resolve claims brought by California.
In October, Hino booked a loss $230 billion yen, or about $1.54 billion, to cover the expected costs.
“This resolution is a significant milestone toward resolving legacy issues that we have worked hard to ensure are no longer a part of Hino’s operations or culture,” Hino CEO Satoshi Ogiso said in a statement, adding that the automaker has enacted several company-wide reforms to prevent future misconduct.
“We commit to moving forward as a company that can be of service to society,” Ogiso said.
https://qz.com/toyota-hino-motors-engine-emissions-fraud-scandal-1851740925
https://finance.yahoo.com/news/toyotas-truck-division-hino-pay-164030484.html
Hino Motors employees tampered with tens of thousands of emissions tests
The Japanese automaker was charged with conspiracy to commit fraud in U.S. federal court in Detroit for unlawfully selling more than 105,000 heavy-duty diesel engines into the U.S. between 2010 and 2022 that failed to meet emission standards, according to court documents. It made about $1.087 billion from its actions.
The misconduct first came to light in March 2022, when employees were revealed to have tampered with test results on engines used in more than 643,000 vehicles, including tens of thousands subject to a recall. Toyota removed Hino from a major Japanese truck consortium, and four officials, including three executives overseeing production and compliance, resigned.
A committee commissioned to investigate the scandal blamed it on an environment in which workers were forced to meet a strict pace of work and engineers felt they couldn’t challenge their bosses. A poor work environment was also found at Toyota’s Daihatsu subsidiary as part of an investigation into its recent safety scandal that tormented the Japanese auto industry last year.
“Hino’s actions led to vast amounts of excess air pollution and were an egregious violation of our nation’s environmental, consumer protection and import laws,” Assistant Attorney General Todd Kim said in a statement.
As part of its agreement to resolve multiple civil and criminal allegations, Hino agreed to plead guilty to engaging in a multi-year conspiracy and serve a five-year probation, during which it will be prevented from importing diesel engines into the U.S. The deal is awaiting approval by a federal judge in Michigan.
Hino ran afoul of several federal agencies, including the Environmental Protection Agency, the FBI, and the Department of Transportation, along with the state of California. The settlement includes a criminal penalty of $521.76 million, $442.5 million in civil penalties, and $236.5 million to resolve claims brought by California.
In October, Hino booked a loss $230 billion yen, or about $1.54 billion, to cover the expected costs.
“This resolution is a significant milestone toward resolving legacy issues that we have worked hard to ensure are no longer a part of Hino’s operations or culture,” Hino CEO Satoshi Ogiso said in a statement, adding that the automaker has enacted several company-wide reforms to prevent future misconduct.
“We commit to moving forward as a company that can be of service to society,” Ogiso said.
https://qz.com/toyota-hino-motors-engine-emissions-fraud-scandal-1851740925
https://finance.yahoo.com/news/toyotas-truck-division-hino-pay-164030484.html
