Big News Monday

Israel Tries To Play Down Minister's Warning Of Attack On Iran
drudgereport.com 6-9-08

Israel yesterday attempted to play down a warning from a senior government minister that an attack on Iran was "unavoidable" if Tehran continued to develop nuclear weapons. The transportation minister, Shaul Mofaz, a key figure in Israel's dialogue with the US on Iran's nuclear programme, raised the prospect of a unilateral Israeli attack against Tehran on Friday, adding that international sanctions had been ineffective.

The threat, which is at odds with Israel's support so far for an international campaign to curtail and, if necessary, confront Iran's uranium enrichment programme, contributed to frenzied buying in the financial markets, where oil prices soared to a record $139, and sparked an international furore.

Yesterday, Mark Regev, a spokesman for Israel's prime minister, Ehud Olmert, said that "all options must remain on the table", adding that "tangible steps by the international community" were needed to "put pressure on the regime in Tehran".

Severe weather kills 8; water rises in Indiana
Jun 9, 4:02 AM (ET)By TOM MURPHY

INDIANAPOLIS (AP) - Wicked weekend storms pounded the country from the Midwest to the East Coast, forcing hundreds of people to flee flooded communities, spawning tornadoes that tore up houses and killing at least eight people.

Rescuers in boats continued to pluck people from rising waters in Indiana on Sunday, a day after more than 10 inches of rain deluged much of the state.
In Iowa, pumps and thousands of sandbags were sent to the Iowa City area, where officials fear a reservoir could top a spillway and flood the city of about 63,000 by Tuesday.

The Indiana flooding killed at least one person, a man who drowned in his vehicle about 50 miles south of Indianapolis, said John Erickson, a spokesman for the state Department of Homeland Security. Another person was reported missing after falling off a boat about 30 miles southwest of Indianapolis.

Miserable Monday: Record Heat To Toast Tri-State
Expect Temperatures To Reach 97, Humidity To Bump Heat Index To Around 105 - Several Schools Closed, Delayed

NEW YORK (CBS) ― The Big Apple continues to bake under a heat wave. CBS 2's John Elliott said temperatures around the region were expected to tie the record high of 97, but humidity will make it feel between 100 and 105. The heat is causing problems across the tri-state, including power outages and school closings.

More than 12,000 Long Island Power Authority customers were still without power Monday morning. Con Ed reported about 1,500 outages in Brooklyn. Some customers were also without power in Westchester County.

Earthquake swarm picks up again in northern Nevada
Jun 8, 4:18 PM (ET)By MARTIN GRIFFITH

RENO, Nev. (AP) - A months-long swarm of earthquakes picked up again Sunday as a string of minor temblors rattled Reno, causing downtown high-rises to sway and knocking items off walls and shelves.

There were no immediate reports of injuries or major property damage after about 20 minor quakes reported on the western edge of Reno over 12 hours ending about noon.

Magnitude-3.9 and 3.7 quakes struck within a couple minutes of each other shortly before 11 a.m. and were preceded by 3.2 and 3.0 quakes early Sunday, said researchers at the seismological laboratory at the University of Nevada, Reno.

Diane dePolo, a lab seismologist, said it was the strongest sequence of quakes in the past month and signaled a pickup in activity after a recent lull.

Pressure from oil prices spreads

Rising oil prices are beginning to cut into the profits of a wide range of businesses, pushing many to raise prices and maneuver aggressively to offset the rising cost of merchandise made from petroleum.

Airlines, package shippers and car owners are no longer the only ones being squeezed by the ever-mounting price of oil, which shot up almost $11 a barrel Friday, to a record $138.54.

Companies that make hard goods using raw materials derived from oil, like tires, toiletries, plastic packaging and computer screens, are watching their costs skyrocket, and they find themselves forced into unpleasant choices: Should they raise prices, shift to less costly procedures, cut workers or all three?

In the United States, Goodyear Tire & Rubber is trying to adapt. Its raw material of choice now is natural rubber rather than synthetic rubber, made from oil. To sustain profits, it is making more high-end tires for consumers willing to pay upwards of $100 to replace each tire on their cars.

These are a few articles I found on watch.org, drudgereport.com and worldnetdaily.com along with several other sites that I believe are insightful. I don't have time to go into a lot of detail now, but I will do so latter.