New Orleans wary as Gustav nears levee system
New Orleans faces fresh flood risk three years after Katrina as Gustav approaches. Despite 2 billion in upgrades including 220 miles of floodwalls and new pump stations, experts warn the system remains vulnerable with weaknesses in the Industrial Canal corridor and lower eastern levees. The Corps aims to complete a shipping channel barrier and West Bank works by 2011, but many projects are years from completion, keeping residents on edge.
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Evacuations accelerate as Gustav nears Gulf Coast
Oil companies and drilling contractors rapid evacuations of thousands of workers and securing offshore rigs as Tropical Storm Gustav nears the United States. Gustavs top winds approach hurricane strength and models show a path toward Louisiana and other Gulf states still recovering from past major hurricanes.
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Stocks Jump on Job Data in Labor Day Rally
Wall Street rose sharply as GDP topped forecasts and initial jobless claims fell, boosting confidence in the economy. The Dow surged over 200 points while a drop in oil prices aided the market rally, though trading volume remained light ahead of Labor Day weekend.
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