Reporting Carey Codd
Al's Third-Quarter Forecast: Expect Slow Economic GainsWhat's ahead for the 3rd Quarter: The July thru September transition between the Height of the Summer and the Start of the Fall? Will it bring more moderate gains like we've seen the First Half of 2010, or will it continue the "Slow Patch" of Economic Declines recently described by Federal Reserve Board Chairman Ben Bernanke? The past few weeks have seen some of the best overall gains on Wall Street over the past 2 years. The Dow recently picked up more than 600 Points, propelling it to the 12,600 mark. We can ask again, will we see the 13,000 Mark in the near future as we get deeper into the 3rd Quarter? The U-S economy has made some decent gains since last year. But there are still some long term problems that are *not* expected to improve much at all until possibly much later in the year. On the Upside, those Rising Gas Prices are stabilizing and actually dropping here and around the country. It's a good sign that could leave more money in our monthly budgets and help spur more spending and ultimately more hiring. But some analysts say big questions remain on where the U-S Economy is heading and if the recovery can pick up speed from our current "slow patch". Lane Jones, of Coral Gables based Evensky & Katz says " The Big Question now is whether we'll rebound from the soft soft patch and get back to the momentum going back tot he closing of last year and the economic growth remains on track and we start to pull away from as we say the escape velocity, to pull away from the crisis of the last year". Ok, so what does it all mean to you and me? With no early agreement out of Congress on reducing the National Debt, expect continued Stock Market volatility as investiors worry about a possible default of loans and Uncle Sam faces the dilema of basically running out of money, raising taxes, cutting back Federal Programs like Medicare, Social Security and Defense Spending or deepening the U-S Debt. With such continued uncertainty, Businesses here and across the country may remain reluctant to boost hiring over the summer. But Rock-Bottom prices and reasonably low interest rates may help our Real Estate markets and prices could continue to stabilize. Expect summer spending to be better than last year as consumer confidence slowly improves. Boosted by moderate spending growth, we should see continued gains to the overall U-S Economy thru the Fall. But Summer Tourism for us locally could be better than last year. And Back to School Spending is just around the corner. So during the rest of the 3rd quarter, our Economic Recovery could start off slowly and hopefully pick up speed as the Fall Spending season approaches. But that's what may be around the corner for the 4th Quarter. And that's a while different Forecast. Check back in October to see how I did!
SUNRISE (CBSMiami) – Naresh Nasta was just sitting down for a meal in his Sunrise home Tuesday night when his home began exploding all around him.
Nasta, 70, was barefoot in his pajamas.
“I could see things falling on my left, on my right, in front, in back,” Nasta told CBS 4′s Carey Codd. “It was just a miracle that nothing of the heavy stuff fell on my head.”
Nasta said the roof over the dining area caved in just feet from where he was sitting. He said pieces of the roof and drywall started raining down around him as he struggled to make it to the front door.
As Nasta emerged dazed into his front yard, neighbors greeted him, already on their way to check on the longtime resident of the New Orleans Estates. Nasta was an original owner in the community 30 years ago.
Nasta and one of his sons, Raj, spend part of the day Thursday gathering any belongings that were salvageable. They loaded a car with clothes, computer equipment, pictures and important documents.
As Raj looked at the house, one thought kept returning to his mind — how did his father survive.
“He must have had an angel looking over him,” Raj told CBS 4′s Carey Codd. “It’s just a miracle.”
Nasta is not certain whether he wants to rebuild. It’s a decision he’ll mull over while he lives with his son.
As workers boarded up Nasta’s home, parts of New Orleans Estates were alive with activity Thursday as insurance agents, construction workers and homeowners tried to return some sense of order to their lives.
The same was true in the neighborhood of Sawgrass in Plantation, a block south of New Orleans Estates.
Mailboxes were propped up on tree stumps, clean up crews cut down damaged trees and workers tried to keep debris out of the streets.
Maria Alonso said the home she shares with her husband and three kids sustained damage and her insurance company was quick to respond and get her the help she needed.
“Yesterday they came and boarded things up and as you can see they tarped us already so we were able to sleep last night,” Alonso said.
Damage totals from the tornado that slammed into several communities in western Broward Tuesday night are still emerging. The tornado packed winds of up to 120 miles per hour and even though it left a swath of destruction a mile long, only minor injuries were reported.
By Thursday afternoon, reports indicated that more than 50 homes were damaged in Plantation, most in the Sunshine City Mobile Home Park. According to Joel Gordon, with the Plantation Fire Department, 10 of the homes in the park are uninhabitable.
In Sunrise, at least two dozen homes in the New Orleans Estates community sustained damage with at least 7 being deemed unsafe structures.
Bruce Moeller, Sunrise City Manager, said officials with the Federal Emergency Management Agency toured the community Thursday. Moeller said the city is awaiting word on whether federal, state or local disaster relief funding would be forthcoming.
Gordon said federal disaster aid appeared unlikely but added that city leaders are pushing for Small Business loans for residents who need help repairing their homes.