Even as the wrath of Katrina is still being dealt with, here comes Rita. Personally, the seminar I was to give in Houston tomorrow is off and has been moved to October 20 and 21.

The Dallas presentation of the same University of Houston seminar, Advising Mid-Sized Businesses, will proceed as scheduled for next Thursday and Friday. No surprise here: my specific topic is the impact of the new amendments to the Bankruptcy Code on businesses.

Here is an excerpt from a Meteorologist's blog talking about the impact of Rita:

"Even if the storm comes in 25-50mi west of Galveston, the angle at which it does so will still bring a massive surge into the bay and result in the center of the storm passing directly over Houston as a category 3/4 system.

Residents of the entire Texas coastline within the projected path of the storm and particularly those in Corpus Christi, Victoria, Galveston, and Houston should rush all preparations to completion and evacuate if necessary and/or told to do so by authorities. The potential for an Andrew-like impact upon the region is very real and this is not a storm to take lightly. I repeat, if you are along the coastline, please evacuate. If you are in Houston, prepare for the worst and hope for the best. Things are only going to go downhill from here for the next 3 days. Residents further inland, such as those in Austin, Waco, San Antonio, and Dallas should be prepared for impacts inland similar to those encountered inland along Katrina's path, such as seen in Jackson, MS and Meridian, MS. Model guidance is suggesting that the storm will stall in the 5-6 day period over northern Texas, bringing about the potential for flooding rains and torrential downpours. If you are in a low-lying area, please be ready to get out if the flood waters begin to rise.

Residents of New Orleans, particularly St. Bernard and Plaquemines Parishes, should be aware that wave action is very strong with this storm on the north side and will likely flood areas that were devastated by Katrina just 3-3.5 weeks ago. It is unclear as to how much rainfall the region may receive from Rita after landfall, but using other systems further toward the east as a proxy, rainfall amounts of 3-5" are possible. This would cause localized flooding of already flooded areas in Orleans Parish as well, bringing about a situation that must be watched closely through the week. "

And here is the link to that interesting warning:

http://flhurricane.com/

Take care all, Mike