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The National Hurricane Center named its eighth tropical system of 2020 in the Atlantic basin on Thursday as Tropical Storm Hanna churns in the Gulf of Mexico.The storm, which had top winds of 40 MPH as of late Thursday, has its eyes set on the Texas coast. The National Hurricane Center issued tropical storm watches and warnings for the Texas coast. The warnings run along from Mouth of the Rio Grande to San Luis Pass, Texas.The National Hurricane Center said it expects the storm to continue to strengthen through landfall.Hanna is notable for being the earliest-forming H storm in the Atlantic. The peak of hurricane season is still seven weeks away.Meanwhile, Hawaii is preparing for a possible strike from Hurricane Douglas this weekend. The Category 3 storm is expected to gradually weaken before crossing the island chain on Sunday. 848

The Olmsted Locks and Dam project, located on the Ohio River between Illinois and Kentucky, has taken 30 years and billion to complete.  But after three decades, the project is slated to be operational in October.The engineers and workers behind the development say the investment is worth it."The Ohio flows into the Mississippi 16 miles downriver from us, and then it's open passage all the way down to New Orleans and into the ocean,” explains Mick Awbreyk, the Army Corps of Engineers deputy chief for the Olmsted Division. “There is no locks and dams from the Olmsted to the ocean."He says the innovative details that went into the project are “phenomenal and truly world class.”Awbreyk will see the opening of the project, which began in 1988.So, why has it taken so long to complete?“The nature of the project; a lot of different things have led to the duration,” explains Awbreyk of the timeline. “One: it hasn't been fully funded until calendar 2013, fiscal years 2014 and that’s the nature of civil works projects."The dam crosses one of the busiest shipping lanes in the United States. Awbreyk says about 91 million tons of goods on average come through the area per year.“The equivalent of 25,000 semi-trucks worth of cargo passes through this site every year,” says Awbreyk. “You can imagine the wear and tear on the interstates and the highways that would have an extra 25,000 vehicles that will be on there per day."The project's price tag has grown to around billion. Workers here say it's money Americans will see come back to them."It’s widely important. The return on investment on this particular project is 0 million per year to the nation,” says Awbreyk. “That’s a net number, so ultimately it’s a little under a billion price tag; it will pay for itself in five years.” 1817

The government’s small business lending program has benefited millions of companies, with the goal of minimizing the number of layoffs Americans have suffered in the face of the coronavirus pandemic. Yet the recipients include many you probably wouldn’t have expected.Kanye West’s clothing line. The sculptor Jeff Koons. Law firms and high-dollar hedge funds. The Girl Scouts. Political groups on both the left and right.All told, the Treasury Department’s Paycheck Protection Program authorized 0 billion for nearly 5 million mostly small businesses and nonprofits. On Monday, the government released the names and some other details of recipients who were approved for 0,000 or more.That amounted to fewer than 15% of all borrowers. The Associated Press and other news organizations are suing the government to obtain the names of the remaining recipients.Economists generally credit the program with preventing the job market meltdown this spring from becoming even worse. More than 22 million jobs were lost in March and April. But roughly one-third of them were regained in May and June — a faster rebound than many analysts had expected.The government acted quickly in early April, with Treasury lending the first 9 billion in just two weeks. The program got off to a rocky start, one marked by confusion and difficulty for many companies that sought loans.“The process was messy, and they couldn’t target it as much,” Diane Swonk, chief economist at accounting firm Grant Thornton, said of Treasury.Here are seven unlikely recipients of the PPP loans:___JEFF KOONSKoons, a modernist sculptor, is known best for his work with large, metallic balloon-like animals. His “Rabbit” sculpture fetched million at auction last year.Koons’ studio was approved for million to million, the government’s data shows. (The data shows only ranges for the amounts of approved loans.) His studio said it employed 53 people before the pandemic. The PPP loans can be forgiven if employers use most of the money to keep their workers on the payroll.___WALL STREET AND PRIVATE EQUITYNearly 600 asset management companies and private equity firms were approved for money from the PPP, according to government data.Financial firms were generally not badly hurt by the coronavirus pandemic. Their employees were largely able to keep working, and they weren’t among the industries that had to be shut down by government orders. In addition, of course, investment managers and private equity employees tend to be exceedingly well-paid occupations.ADVERTISEMENTAccording to the data, those 583 companies reported supporting roughly 14,800 jobs collectively with the money from the program. That’s an average of 25 employees per company.One other notable financial company that borrowed from the program: Rosenblatt Securities, which commands one of the largest physical presences on the floor of the New York Stock Exchange. Rosenblatt borrowed between million and million.___KANYE WEST’S CLOTHING LINEKanye West’s clothing-and-sneaker brand Yeezy received a loan of between million and million, according to the data released by Treasury. The company employed 106 people in mid-February before the pandemic struck.Yeezy, best known for its 0 sneakers, just announced a major deal with Gap that will have the rap superstar designing hoodies and T-shirts to be sold in the chain’s 1,100 stores around the world. (A representative for Yeezy didn’t immediately respond to a request for comment.)Last weekend, West, a notable fan of President Donald Trump, tweeted that he was running for president.Some other well-known fashion and retail names whose businesses were pummeled by store shutdowns were also approved for loans. The list included high-end designers Oscar de la Renta and Vera Wang and suit maker Hickey Freeman. All their loans were in the -million-to- million range.___POLITICAL GROUPSThe Americans for Tax Reform Foundation, the nonprofit arm of the anti-tax lobbying group Americans for Tax Reform, was approved for a loan of up to 0,000. ATR, led by the anti-tax activist Grover Norquist, who has long supported a smaller federal government, said it didn’t oppose the PPP. It described the program “as compensation for a government taking during the shutdown.”The Center for Law and Social Policy, a research and advocacy group focused on policies supporting low-income Americans, was authorized for a loan of up to million, according to government data.___THE GIRL SCOUTSMore than 30 Girl Scout chapters across the country received PPP loans, the Treasury said. The Girl Scouts of Montana and Wyoming were approved for between 0,000 and million.___JIM JUSTICE, BILLIONAIRE GOVERNORWest Virginia Gov. Jim Justice’s family companies received at least .3 million from the program.Justice, a Republican, is considered to be West Virginia’s richest person through his ownership of dozens of coal and agricultural businesses, many of which have been sued for unpaid debts. At least six Justice family businesses were approved for loans, including The Greenbrier Sporting Club, an exclusive club attached to a lavish resort that Justice owns called The Greenbrier.Justice, a billionaire, acknowledged last week that his private companies received money from the program but said he didn’t know the dollar amounts. A representative for the governor’s family companies didn’t immediately return emails seeking comment.___RESTAURANT CHAINSTGI Fridays and P.F. Chang’s China Bistro were among the major restaurant chains that were approved for loans.Dallas-based TGI Fridays, which has around 500 restaurants nationwide, obtained between million and million in loans from the program. In 2014, TGI Fridays was bought by the the New York private equity firm TriArtisan Capital Advisors. That firm also owns P.F. Chang’s China Bistro, which was also approved for a loan.Though the PPP program was designed to help small businesses, big hotel and restaurant chains were also allowed to apply. A message seeking comment was left with TGI Fridays.P.F. Chang’s China Bistro says a PPP loan helped it keep 12,000 workers employed and transition its restaurants to carry-out-only during the coronavirus pandemic. Scottsdale, Arizona-based P.F. Chang’s, which has more than 210 restaurants around the country, was approved for between million and million from the PPP program, according to the government data. 6458

The nationwide group behind the Women's March is organizing a national school walkout following Florida's high school shooting.The group is calling for students, teachers and parents to take part in walking out of school for 17 minutes - a nod to the 17 lives lost in the Feb. 14 shooting - to "protest Congress' inaction to do more than tweet thoughts and prayers in response to gun violence.""Enough: National School Walkout" is being scheduled for 10 a.m. local time across the U.S. on March 14.Organizers posted the event to Facebook with a message, reading in part:"We need action. Students and allies are organizing the national school walkout to demand Congress pass legislation to keep us safe from gun violence at our schools, on our streets and in our homes and places of worship." 804

The National Hurricane Center said Friday night it now expects Tropical Storm Hanna to strengthen into a hurricane by the time it makes landfall on the Texas coast tomorrow.In response, the National Hurricane Center has issued hurricane warnings for sections of the Texas coast. Tropical storm warnings also remain in effect for parts of the Texas coast.The hurricane warning extends from Fort Mansfield, Texas, to Mesquite Bay, Texas.The National Hurricane Center said that Hanna has gained strength on Friday as it makes it approach to the Texas coast. As of 10 p.m. CT, Hanna had top winds of 65 MPH. 611

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