Storm Exchange Flight Delay Index(SM) Suggests Rough Period of Travel Delays to Follow Calm Labor Day Travel Weekend.New Tools Emerge to Help Travelers Hedge Bets on Airport Delays NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Storm Exchange, Inc., a market leader in weather-based financial hedging solutions, released a special report today entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: : Airport Delays and Weather - A Financial Solution. The report finds that although the short-term forecast for the big Labor Big labor (sometimes capitalized as Big Labor) is a term used to describe large organized labor unions, particularly in the United States. The term is almost always used in a negative or derisive sense; union members are almost never likely to say that they are proud Day travel weekend calls for clear skies Clear Skies could refer to:
Three-fourths of all airline delays are caused by the weather. Of that number, Storm Exchange has found that 40 percent are caused by rainy rain·y adj. rain·i·er, rain·i·est Characterized by, full of, or bringing rain. rain  i·ness n.Adj. weather at the airport. Storm Exchange tracks the direct impact of rainfall on airline delays with its proprietary Flight Delay Index, which finds a correlation between daily rainfall greater than 1/10th of an inch and accumulated delays and back-ups of 300 minutes or more. That is, for every 1/10th of an inch of rain, an airport is subject to 5 hours of delays. "A combination of increasing weather volatility, growing air traffic and decreasing air traffic management capacity are conspiring to create a perfect storm of travel delays throughout the remainder of 2007," said Paul Walsh Paul Anthony Walsh (born 1 October 1962 in Plumstead, London) was a diminutive and pacy centre forward who shot to fame in the 1980s after joining Liverpool. Playing career Charlton Athletic , Storm Exchange Chief Strategy Officer. "The good news for now is that this weekend looks to be rain-free across most of the country. But given all of the factors at play, we are not far off from the kind of headline-grabbing travel delays that make people start to second guess their travel plans." "With 15.7 million people planning to fly this Labor Day Labor Day, holiday celebrated in the United States and Canada on the first Monday in September to honor the laborer. It was inaugurated by the Knights of Labor in 1882 and made a national holiday by the U.S. Congress in 1894. Weekend and travel delays having reached record levels this month, the stakes are particularly high for airlines," said David Riker, Storm Exchange CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Hope can no longer be the strategy for mitigating the kind of reputational and financial risk that comes from a major holiday travel snafu." Riker noted that: "This problem is not going away and travel delays are going to get worse before they get better. But the good news for millions of travelers is that a host of new travel delay rebate rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. programs are coming online to help offset the headache." The Storm Exchange special report details specific instances where weather has increased travel delays over the last year, and uses the Flight Delay Index(SM) as a benchmark for understanding future financial loss It also charts the airports that are due to have the most improved on-time performance this Labor Day versus last year, and outlines new weather hedging tactics that both airlines and consumers are using to mitigate the negative financial impact of adverse weather conditions. Among these new tactics are new types of consumer protection offered through Storm Exchange, with its Weather-Protected[R] program. Designed to offer consumers cash-rebates or airline miles in the event of weather-related delays, the new products are currently in development with a number of large, commercial airlines and others. The special report is part of Storm Exchange's regular series of research reports produced using the firm's weather-based financial risk management solutions. Additional solutions offered by Storm Exchange include benchmark weather indices, a weather derivatives Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions. exchange, weather hedging analytics and Weather-Protected[R] consumer programs. About Storm Exchange, Inc. Storm Exchange, Inc. is a dynamic new company developing an online financial market to help businesses (and in some cases their end consumers) better plan for and manage their weather-related risks. Nearly one-third of the U.S. economy is sensitive to the weather. And while businesses routinely hedge risks such as currency and interest rate fluctuations, when it comes to the variability of the weather, most are operating blind. That's because until now most companies have not had the knowledge or tools to develop a clear understanding of the true measure and financial cost of their weather losses. Storm Exchange was founded to fill this large, but unmet un·met adj. Not satisfied or fulfilled: unmet demands. , corporate need. The company's innovative online platform gives corporations, governments and other clients the specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. industry knowledge, data-driven indices, analytical tools and capital market access they need to execute a contract to hedge their weather-related risks. The result is more control over uncertain forecasts, improved operating results and stronger, more predictable financial performance. Find out more about Storm Exchange at www.stormexchange.com. |
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