Ongoing turmoil in the financial markets has resulted in a highly challenging environment for the U.S. insurance industry, a trend that is expected to continue in 2009. We also expect further consolidation in the industry.

Life Insurers

Increased losses in the investment portfolio and lower income from the variable annuity business will continue to hurt earnings. The Industry's statutory capital levels have fallen sharply in 2008, and some companies are trying to raise capital through the Troubled Assets Relief Program (TARP). We are not sure whether the lawmakers will allow the insurers access to TARP money. Further, many life insurers have substantial exposure to commercial-real-estate-backed securities, which will result in further losses during FY09.

Property & Casualty Insurers

Insurers' losses from natural disasters surged in 2008, with maximum losses resulting from Hurricane Ike (insured losses of approximately $15 billion). Six named storms -- Dolly, Edouard, Fay, Gustav, Hanna and Ike hit the

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Ongoing turmoil in the financial markets has resulted in a highly challenging environment for the U.S. insurance industry, a trend that is expected to continue in 2009. We also expect further consolidation in the industry.Life InsurersIncreased losses in the investment portfolio and lower income from the variable annuity business will continue to hurt earnings. The Industry's statutory capital levels have fallen sharply in 2008, and some companies are trying to raise capital through the Troubled Assets Relief Program (TARP). We are not sure whether the lawmakers will allow the insurers access to TARP money. Further, many life insurers have substantial exposure to commercial-real-estate-backed securities, which will result in further losses during FY09.  Property & Casualty InsurersInsurers' losses from natural disasters surged in 2008, with maximum losses resulting from Hurricane Ike (insured losses of approximately $15 billion). Six named storms -- Dolly, ...

Founded in 2005, GWS Technologies, Inc. is a renewable energy technology company developing and marketing solar and wind-powered alternative energy products and solutions. Their name, GWS, stands for “GreenWindSolar”. They trade on the OTCBB and have their corporate headquarters in Scottsdale, Arizona.

GWS Technologies Inc. has a growing line of solar and wind-powered products. These include handheld devices that can recharge an iPod to a backyard wind turbine for point-of-use alternative energy generation. GWS is working hard to build on their position as a leader in the emerging “microgeneration marketplace”. Microgeneration, or “micropower”, is the generation of zero or low-carbon electrical power by individuals, small businesses, and communities to meet their own needs.

The Company introduced their new website in 2008, dedicated to the emerging microgeneration marketplace. GWS’s website, at www.greenwindsolar.com, includes an ecommerce store. Consumers can purchase renewable energy products, including portable solar and wind chargers that can recharge

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Private schools are a discretionary item that is going to have to be ditched my many trying to avoid the much maligned public school system, where seniority is more important than teaching talent. That can only be good for our kids looking out 15-20 years….

What you see here will be repeated in our universities – as we’ve noted many times. I am working on a piece on that end as many articles have come up of late showing the struggles finally hitting that area of life. Eventually, they too have to face reality and cannot charge parents 8-11% annual tuition increases in a 3% wage increase country.

Trinity Episcopal School survived Hurricane Ike last fall. But then another storm hit — the economy. The Galveston, Texas, school, where tuition is between $5,000 and $8,000 a year, …

Ongoing turmoil in the financial markets has resulted in a highly challenging environment for the U.S. insurance industry, a trend that is expected to continue in 2009. We also expect further consolidation in the industry.

Life Insurers

Increased losses in the investment portfolio and lower income from the variable annuity business will continue to hurt earnings. The Industry's statutory capital levels have fallen sharply in 2008 and some companies are trying to raise capital through the Troubled Assets Relief Program (TARP). We are not sure whether the lawmakers will allow the insurers access to TARP money. Further, many life insurers have substantial exposure to commercial-real-estate-backed securities, which will result in further losses during FY09.

Property & Casualty Insurers

Insurers' losses from natural disasters surged in 2008, with maximum losses resulting from Hurricane Ike (insured losses of approximately $15 billion). Six named storms -- Dolly, Edouard, Fay, Gustav, Hanna and Ike hit the

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ONEOK Partners recently confirmed its higher 2008 earnings guidance despite Hurricane Ike impacting some facilities in the Gulf Coast region as commodity prices stay elevated. The partnership also increased its distribution for the 10th consecutive quarter.

ONEOK has surprised on earnings 4 consecutive quarters by an average of 24.16%. It has a forward P/E of 9.87.

Company Description

ONEOK Partners Limited (OKS) is one of the largest natural gas limited partnerships in the U.S. The partnerships owns the natural gas liquid (NGL) system that connects the natural gas and NGL supply in the Mid-Continent with key markets.

The general partner is a wholly owned subsidiary of ONEOK, Inc. (OKE), an energy company which owns 47.7% of the partnership.

Net Income Jumped 63% in the Second Quarter

On Aug 5, ONEOK Partners reported second quarter earnings that surprised on Wall Street estimates by 39.05%, or 41

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ENGlobal Corp (ENG) avoided major damage from hurricane Ike and just broke out of a bearish trend. Current-year estimates are projecting a 87% increase in earnings, but the company remains fairly priced with a PEG of .8.

Company Description

ENGlobal Corporation provides engineering, automation systems, field inspection, and land management and regulatory services principally to the petroleum refining, petrochemical, pipeline, production, and process industries throughout the United States and internationally.

From its roots as a small, local engineering and design company to its current position as an international organization, ENGlobal has always focused on providing innovative, cost-effective solutions. The company is headquartered in Houston, Texas, with approximately 2,900 employees, and a market cap of $340 million.

Record Second Quarter

ENGlobal reported revenue of $136 million, which is a 52% year-over-year increase. The record mark for revenue was announced on Aug

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Tetra Technologies, Inc. (TTI), an oil and gas services company, announced recently it has withdrawn its previous 2008 earnings guidance of $1.30 - $1.55 per share. According to Geoffrey M. Hertel, president and chief executive officer, the impact of hurricanes Gustav and Ike have created significant downtime in the company’s Well Abandonment & Decommissioning (WA&D) Services and Maritech and Fluids businesses. Additionally, Hurricane Ike destroyed three platforms that have direct implications for Maritech’s production operations.

WA&D Services, Maritech and offshore Gulf of Mexico Fluids operations have essentially been curtailed since August 30. The company did not incur any significant damage to any of the WA&D Services fleet of vessels. Though the company believes that their platforms are insured, the reduction in their production is material. The company will also incur costs of insurance deductibles, among other things.

With the destruction of at least twenty-eight platforms, the potential

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Du Pont ( DD) is currently the world's second largest chemical company in terms of market capitalization and the fourth in revenue. Du Pont describes itself as a global science company employing more than 60,000 people worldwide with a diverse array of product offerings.

On September 23, 2008, Du Pont Titanium Technologies announced price increase for all Du Pont Ti-Pure titanium dioxide grades sold in Latin America. Effective October 1, Latin American prices for all Du Pont titanium dioxide grades will increase by $150 per metric ton. The company attributes the price hikes to rising demand for TiO2 and rising raw material prices.

On September 18, 2008, Du Pont declared a force majeure for its facility in Orange, Texas, after assessing the plant's damage from Hurricane Ike. This facility handles its ethylene copolymers business. It is unclear when operations here will be resumed.

Du Pont is currently valued at 12.2x our 2008

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In the energy market Wednesday, crude for November delivery pushed past $109, but then declined to close at $105.73/barrel, down 88 cents. In its weekly inventory report, the Energy Information Administration said that crude stocks were down 1.5 million barrels for the week ending September 19, bringing the total decline to 15.7 million barrels in five weeks.