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| Provided to you Exclusively by Robert D. Ashby, CMPS |
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For the Month of February 2006 --- Vol. 1, Issue
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In This Issue...  |
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Ever get busted by the flight attendant for not turning off your mobile phone fast enough? Those days may be over soon, as cell phones could actually be approved for in-flight use sometime this year! But it's hotly debated...and here's another issue that may raise some eyebrows. New flood plain maps are coming...and they might cost you money, even if you live in an area that hasn't flooded in years! Don't miss these exciting topics, as well as an introduction to our new Federal Reserve Chairman, Ben Bernanke. And as always, please be sure to call or email if you need any assistance at this time! |
| CAN YOU HEAR ME NOW? GOOD...I GUESS. |
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It's finally going to happen. Within the next year, the Federal Communications Commission (FCC) is slated to give approval for cell phone use during commercial airline flights. Cell phone use is still presently banned on airplanes for a few reasons. The FCC bans in-flight use because cell phones can communicate with more than one cell tower at a time while in the air, which could lead to disruption of service for cell phones on the ground, which use only one tower at a time. And the Federal Aviation Administration (FAA) isn't on board quite yet. They also ban cell phone use on planes, fearing the wireless signals could interfere with navigation and communication equipment on board. Although the FCC doesn't feel this is a risk, the FAA has commissioned their own study that should rule conclusively if cell phone use actually poses any danger. And in the meantime, according to an agency spokesman, the FAA would consider lifting the ban for a specific airline, if that airline can prove that cell phone use on their particular aircraft is not dangerous. Airlines would welcome the move, as they can cash in by taking a share of the fee that travelers would pay for the service. But not all is sunny skies and smooth sailing - the movement also has some opponents, who fear what a planeload of chatty fliers would sound like. One Internet message board posted this concern: "...Cell phones on planes? Just consider what it will be like sitting next to the guy who wants to do his full business meeting on the plane, yelling 'YEAH BOB, I KNOW WHAT YOU'RE SAYING BUT I JUST CAN'T GIVE IN, THERE'S NO WAY I CAN DO THAT - HOLD ON, I CAN BARELY HEAR YOU. OH YOU WANT ME TO SPEAK UP? NO PROBLEM. THANK GOODNESS I HAVE MY CELL PHONE!' And forget about business, how about teenage lovebirds talking for the entire flight? 'Oh Chrissie I've got the huuuugest crush on Timmy in 2nd period, hee hee hee! I'm like, sooo into him. I like, can't wait for him to like, ask me out so we can like...like...like each other!' That sends chills down my spine already, and I can truly see people asking 'please seat me next to a couple with 2 babies - it's so much more pleasant.' I'm scared..." But a reasonable responder posted..."Is someone talking on their phone really any different than that same person talking to someone seated next to them? I don't see this as being a big problem." And realistically, with a little common sense and courtesy, in flight cell phone service would offer a major benefit to most travelers. At some point, approval seems certain. So looking ahead, perhaps when booking a ticket the choices will someday be aisle or window...in the cell-phone or non-cell-phone area of the plane? |
| GRAB YOUR SANDBAGS AND BARRICADE THE
DOOR...FEMA IS COMING! |
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The Federal Emergency Management Agency has decided to update its 100,000 flood plain maps, and even expand the mapping range into many areas previously undeveloped. What will this mean? The maps track and evaluate the risk of a property being damaged by flooding. This is not only important for homeowners and homebuilders, but is crucial information for home lenders and home insurers who are at great risk when a property is damaged by flood. Flood insurance is generally very costly, so homeowners and builders have fought for waivers in the past, with a fair measure of success because the maps are so outdated. New maps will mean authorities are going to be much less likely to bend the rules. What areas are most at risk for big changes in flood mapping? Those with large populations and repetitive losses over the past several years. But can we blame FEMA for wanting to make the change? Over the past decade, FEMA has paid out billions of dollars for flood damage claims, and the actual cost of damages due to flooding are much, much greater. What steps can be taken now? If you have a concern that your property may be found to be in a flood zone, contact local zoning boards, building inspectors, insurance agents or state floodplain managers to get recent history for your area. And if you are truly at risk for flooding, bite the bullet and get the policy, in order to protect yourself. In the end...you may not be able to sandbag FEMA if they decide you need flood insurance, but well informed is well armed. |
| OUR NEXT FED CHAIRMAN...DR BEN S. BERNANKE
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On January 31st, 2006, the reins of the Federal Reserve Board were turned over from Chairman Alan Greenspan, to our new Fed Chairman, Ben S Bernanke. He now holds a position that some call more powerful than the US President...so who is he? Bernanke Bio Ben S. Bernanke was born on December 13, 1953 in Augusta, Georgia. He received a BA in economics in 1975 from Harvard (summa cum laude) and a PhD in economics in 1979 from the Massachusetts Institute of Technology. Before becoming a member of the Federal Reserve Board of Governors, Dr. Bernanke served as a Professor of Economics and Public Affairs at Princeton since 1985. Dr. Bernanke was also sworn in on June 21, 2005 as Chairman of the President's Council of Economic Advisors. Dr. Bernanke has received many national awards and recognition for his work, and has published many articles on a wide variety of economic issues, including monetary policy and macroeconomics, and he is the author of several scholarly books and two textbooks. Beliefs and Views Dr. Bernanke is an advocate of a strategy called inflation targeting where a central bank specifies a numerical goal for prices. The Fed debated the strategy last February, and decided to table the discussion. Bernanke is unlikely to push the strategy unless he can gain approval from the rest of the Fed members. This is presently unlikely, as Fed Governors Roger Ferguson and Donald Kohn are known to be strongly opposed to the strategy. The financial markets always believed that Bernanke was more of a "dove" than a "hawk" when it comes to raising interest rates and fighting inflation...but his recent comments have made it clear that he intends to continue the strong path that Chairman Greenspan has laid, and intends to be vigilant against inflation. Impressions Bernanke has stressed there would be continuity between his leadership and the legacy Greenspan is leaving behind. Plus, as Chairman, Bernanke will have to build solid consensus among all of the voting Federal Reserve members in order to craft Fed Policy, as policy cannot consist solely of his views and beliefs. Dr. Bernanke absolutely has a first-rate mind and is just as sharp as they come. He's the product of Ivy League schools, a member of the National Bureau of Economic Research, a highly respected macroeconomist, and the former chair of Princeton's economics department. Bernanke will likely be a good communicator of Fed Policy as he tends to speak plainly and wants Fed Policy to become more transparent. While Bernanke is quite serious, very disciplined, and rather soft-spoken, he will bring intellectual leadership, verbal power and precision, and a prodigious work ethic as Chairman of the Federal Reserve. His willingness to speak his mind stems from a conviction that clear communication goes hand-in-hand with good monetary policy. |
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