About Emily Holbrook

Emily Holbrook is a former editor of the Risk Management Monitor and Risk Management magazine. You can read more of her writing at EmilyHolbrook.com.
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It’s Raining Satellite Parts

An estimated 26 pieces of a school bus-sized dead satellite are predicted to survive reentry into the earth’s atmosphere and have a good chance of crash landing somewhere on land (or sea) tomorrow.

But don’t take off for the nearest bunker just yet. NASA says the chances are 1 in 3,200 that someone somewhere will be hit and they have just now reported that the satellite will not hit the United States.

The latest predictions of the satellites re-entry mean that the U.S. will miss out on the stunning sight of the spacecraft as it re-enters the atmosphere. A NASA spokesman said: “Re-entry is expected sometime during the afternoon of Sept 23, Eastern Daylight Time. The satellite will not be passing over North America during that time period. It is still too early to predict the time and location of re-entry with any more certainty, but predictions will become more refined in the next 24 to 36 hours.”

Launched from the Space Shuttle Discover on September 15, 1991, the Upper Atmospheric Research Satellite (UARS) was the first satellite dedicated to studying the science of the stratosphere. As Discovery News reports, this machine was a commendable satellite among the many space vessels.

The final demise of this bus-sized hero of atmospheric science is happening almost 20 years to the day after its launch. There were many other major discoveries over the years, of course. The project scientists have their own top ten list. But if you remember only two things about this NASA workhorse, let it be these:

  • In its first two weeks of operation, UARS data confirmed scientists’ theories about ozone depletion over the polar regions by providing three-dimensional maps of ozone and chlorine monoxide near the South Pole during development of the 1991 ozone hole.
  • UARS data provided conclusive evidence that chlorine in the atmosphere—originating from human-produced chlorofluorocarbons—is at the root of the ozone hole problem.

Impressive, indeed. So let us not focus solely on the hype surrounding its reentry tomorrow, but instead, focus on the accomplishments this man-made space scientist achieved during its career thousands of miles above us.

With lucky timing on our part, we covered the issue of space debris in our October issue. Within our Timeline column on the topic, we covered everything from the first warning of the dangers of space debris back in 1978, to the recent National Research Council report, saying the issue is at a “tipping point.” Check out the Risk Management site on October 1st to read the article its entirety.

 

Do you have insurance coverage for this type of event?

The 10 Most Dangerous Jobs in America

The thought of death or injury on the job doesn’t usually cross the minds of many office-dwellers. We are the lucky ones. There are a slew of occupations that, without the help of any extraordinary circumstances, claim the lives of many workers each year.

Things have improved greatly over the past decades, however. In fact, since the Bureau of Labor Statistics (BLS) began tracking fatal occupational injuries 19 years ago, 2009 was the safest year on record with 4,551 fatal work injuries. In good news, 2010 was similarly less deadly with 4,547 fatal work injuries. But the fatality rate of some occupations still remain alarmingly high. Below are the 10 most dangerous jobs in America according to the most recent (2010) figures from the BLS and the fatal work injury rate (per 100,000 workers).

  1. Fishermen (116.0) — In late June, two people died when a 20-foot fishing boat capsized near the top of Alaska’s panhandle. A third person was able to climb on top of the overturned skiff where he waited for rescue. As the BLS states, “this occupation is characterized by strenuous work, long hours, seasonal employment, and some of the most hazardous conditions in the workforce.”
  2. Logging workers (91.9) — This occupation repeatedly takes a spot in the top 10 as not only one of America’s, but the world’s, most dangerous jobs. In one recent example, 61-year-old John Hutt, a Colorado logger, cut off his toes after he became trapped under heavy logging equipment. He then drove himself to an area where there was enough cellphone reception to call an ambulance. In the logging industry, he is considered one of the lucky ones.
  3. Airplane pilots and flight engineers (70.6) — It may be hard to believe that working as a police officer is safer than flying a plane, but according to the BLS, this is true. The bureau states that there were 78 fatal work injuries for this industry in 2010.
  4. Farmers and ranchers (41.4) — In August, a 40-year-old Illinois farmer was crushed to death by his tractor after it fell into a hole on his farm, which he was filling with dirt. And just this month a woman was hit and run over by a skid loader on a farm in Wisconsin. She was pronounced dead on the scene.
  5. Mining machine operators (38.7) — The most infamous accident within this industry is undoubtedly the Upper Big Branch Mine explosion in April of 2010, which claimed the lives of 29 out of the 31 miners on site. The accident was the worst in the United States since 1970, when 38 minters were killed at Finley Coal Company’s mines in Kentucky.
  6. Roofers (32.4) — Just three weeks ago, four roofers in San Francisco were seriously injured when the roof of a six-story apartment complex collapsed under them. And in April, a 56-year-old worker was re-securing metal roof panels on a building at Horenberger Field at Illinois Wesleyan University when he fell from scaffolding. He died in the hospital eight days later and one of the causes of his death was the disease attention-deficiency/hyperactivity disorder (ADHD) and that he did not take the drug strattera and his employer, Union Roofing, was cited by OSHA for two safety violations.
  7. Sanitation workers (29.8) — A tragic accident occurred on Labor Day when a 17-year-old sanitation employee fell off of a moving garbage truck and was run over, killing him instantly.
  8. Truck drivers and delivery workers (21.8) — In March of last year, a commercial truck driver was using his cellphone to make a call when his truck crossed the median in central Kentucky, striking a van that was carrying 12 members of a family. 10 people in the van plus the truck driver were killed. Just this week, the U.S. National Transportation Safety Board, concluding its investigation of the crash, recommended banning the use of mobile phones by commercial drivers except in emergencies.
  9. Industrial machine workers (20.3) — The number of accidents in this field is staggering. In January 2010, a Florida man had his genitals severed off after an accident involving machinery at an Future Foam Carpet Cushion in Orlando. The company was was fined $42,500 by OSHA for 10 serious safety violations.
  10. Police officers (18.0) — In 2010, there was a nearly 40% increase in line-of-duty deaths among U.S. law enforcement. The most recent officer death involved Deputy Sheriff Derrick Whittle of the Union County, Georgia, Sheriff’s Office. He was killed in an automobile accident while responding to a call on September 18th. He is the 48th law enforcement officer to be killed in a traffic-related incident in 2011.

Another Rogue Trader for the Record Books

Since 2008, investment banks have taken quite a beating. From huge subprime losses to dwindling trust of consumers. And now, they can add another notch to their belt.

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Today, Swiss bank UBS announced that a rogue trader in its investment bank had lost $2 billion on unauthorized trades.

The incident raises questions about the bank’s management and risk policies at time when it is trying to rebuild its operations and bolster its flagging client base. The case could also bolster the efforts of regulators who have pushing in some countries to separate trading from private banking and other less risky businesses.

The trader, 31-year-old Kweku Adoboli, was arrested by UK officers though exact charges have not yet been announced.

You may remember a similar case involving Jerome Kerviel, a former trader at French bank Societe Generale, who defrauded the company by gambling away $6.7 billion. He single-handedly brought the 145-year-old bank to near bankruptcy when the trades were discovered in January 2008. He was charged and convicted of breach of trust, forgery and unauthorized use of the bank’s computer system.

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Will Adoboli be charged with the same? More importantly, why didn’t the largest bank in Switzerland learn from the Societe Generale case, which went down in history as the biggest rogue trading scandal in history?

“All men make mistakes, but only wise men learn from their mistakes.”
-Winston Churchill

Cavalcade of Risk #139

Welcome to the newest edition of the Cavalcade of Risk (CoR), in which we feature relevant and timely blog posts covering topics from small business risk management to fire and flood insurance to medical misadventures. These posts, and their authors, offer up unique and informative posts on all things risk management and insurance. Enjoy.

The next Cavalcade of Risk host is Jaan Sidorov at the always informative and interesting Disease Care Management Blog. Don’t forget to check out the next batch of blog posts on his site.