Bihar developments: Deve Gowda expresses hope of Janata Dal Parivar re-emergence
Bengaluru, Aug 9: Following the political developments in Bihar, JD(S) patriarch H D Deve Gowda on Tuesday expressed hope of the erstwhile Janata Dal Parivar re-emerging as a political alternative in the country.
The former Prime Minister said the developments, which saw Janata Dal (United) led by Bihar Chief Minister Nitish Kumar and Lalu Prasad Yadav-led Rashtriya Janata Dal (RJD), both constituents of the Janata Parivar, coming together to form a government in Bihar, made him think of the days when they all were united.
"I have been watching the developments in Bihar. It made me think of the days when the Janata Dal Parivar was under one roof. It gave three PMs. I am in my advanced years, but if the younger generation decides, it can offer a good alternative to this great nation," Gowda tweeted.
In a day of fast-moving developments, Bihar's "mercurial" leader Nitish Kumar twice met Governor Phagu Chauhan -- first to hand in his resignation as NDA chief minister and then after being elected leader of the RJD-led 'Mahagathbandhan' (grand alliance) to stake claim for the top job in the State once again.
Kumar's move, a reversal of what happened in 2017 when he left the Mahagathbandhan to rejoin the NDA, left the ally BJP out in the cold for the second time in nine years.
I have been watching the developments in Bihar. It made me think of the days when the Janata Dal parivar was under one roof. It is gave three PMs. I am in my advanced years, but if the younger generation decides it can offer a good alternative to this great nation.
— H D Devegowda (@H_D_Devegowda) August 9, 2022
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Los Angeles county wildfires could be costliest in US history, early estimates say
Los Angeles, Jan 11: The wildfires that erupted this week across Los Angeles County are still raging, but already are projected to be among the costliest natural disasters in US history.
The devastating blazes have killed at least 11 people and incinerated more than 12,000 structures since Tuesday, laying waste to entire neighbourhoods once home to multimillion-dollar properties.
While it's still too early for an accurate tally of the financial toll, the losses so far likely make the wildfires the costliest ever in the US, according to various estimates.
A preliminary estimate by AccuWeather put the damage and economic losses so far between USD 135 billion and USD 150 billion. By comparison, AccuWeather estimated the damage and economic losses caused by Hurricane Helene, which tore across six southeastern states last fall, at USD 225 billion to USD 250 billion.
“This will be the costliest wildfire in California modern history and also very likely the costliest wildfire in US modern history, because of the fires occurring in the densely populated areas around Los Angeles with some of the highest-valued real estate in the country,” said Jonathan Porter, the private firm's chief meteorologist.
AccuWeather factors in a multitude of variables in its estimates, including damage to homes, businesses, infrastructure and vehicles, as well as immediate and long-term health care costs, lost wages and supply chain interruptions.
The insurance broker Aon PLC also said Friday that the LA County wildfires will likely end up being the costliest in US history, although it did not issue an estimate. Aon ranks a wildfire known as the Camp Fire in Paradise, California, in 2018 as the costliest in US history up to now at USD 12.5 billion, adjusted for inflation. The Camp Fire killed 85 people and destroyed about 11,000 homes.
The LA County wildfires, which were fuelled by hurricane-force Santa Ana winds and an extreme drought, remained largely uncontained Saturday. That means the final tally of losses from the blazes is likely to increase, perhaps substantially.
“To put this into perspective, the total damage and economic loss from this wildfire disaster could reach nearly 4 per cent of the annual GDP of the state of California,” AccuWeather's Porter said.
In a report Friday, Moody's also concluded that the wildfires would prove to be the costliest in US history, specifically because they have ripped through densely populated areas with higher-end properties.
While the state is no stranger to major wildfires, they have generally been concentrated in inland areas that are not densely populated. That's led to less destruction per acre, and in damage to less expensive homes, Moody's noted.
That's far from the case this time, with one of the largest conflagrations destroying thousands of properties across the Pacific Palisades and Malibu, home to many Hollywood stars and executives with multimillion-dollar properties. Already, numerous celebrities have lost homes to the fires.
“The scale and intensity of the blazes, combined with their geographic footprint, suggest a staggering price tag, both in terms of the human cost and the economic toll,” Moody's analysts wrote. The report did not include a preliminary cost estimate of the wildfire damage.
It could be several months before a concrete tally of the financial losses from the wildfires will be possible.
“We're in the very early stages of this disaster,” Porter said.
