May 22, 2012

Senator Harkin uncertain about selling his BP stock

New financial disclosure reports show Iowa Senator Tom Harkin owns 90 shares of BP stock worth about $3,000. Harkin, a Democrat, says he was unaware the stock was in his investment portfolio until a matter of a few hours ago.

Harkin says he’s always opposed off-shore drilling and is uncertain if it sends a mixed message that he is, even at a small level, part owner of the oil company responsible for the worst-ever environmental disaster in the Gulf of Mexico.

“I don’t know, I mean, I’ll have to think about that,” Harkin says. “I’ve always legislated what I consider to be the public interest, not my personal interest. I’m happy to be judged on that basis, of how I legislate. I wasn’t aware I even owned the darn stock until this morning.” Harkin says he’ll talk with his financial advisor about whether he should liquidate or reallocate those assets. [Read more...]

More severe weather, twisters, possible later today

While many Iowans are still recovering from this week’s flooding, they’ll have to be on guard for more severe weather later today. Miles Schumacher, a meteorologist with the National Weather Service office in Johnston, says they’re tracking a large storm system that’s heading for Iowa from the west.

Moisture and warm air are coming, Schumacher says, and there’s a strong chance for severe weather statewide late this afternoon in the northwest and later tonight across much of the rest of Iowa.

The western third of the state is at greatest risk of seeing a tornado but most of Iowa is threatened by wind and hail. Schumacher says the best threat for tornadoes would be west of a line from Algona to Atlantic.

He says the active weather pattern will continue into the weekend. Heavy rain is likely Saturday and Sunday though he says the potential for severe weather is less. Schumacher says heavy rains will be a possibility this time in northern Iowa, which has been spared the flooding in recent days.

See the full forecast at www.weather.gov

Thanks to Pat Powers, KQWC, Webster City

Iowa City author imparts wisdom about pearls

Stephen Bloom

A University of Iowa journalism professor and author traveled to four continents to do research for his latest book which chronicles his pursuit of pearls. Stephen Bloom named his nonfiction odyssey, “Tears of Mermaids: The Secret Story of Pearls,” a journey that took him around the planet, from Iowa to New York and from Hong Kong to Tahiti.

Bloom says, “I wanted to track a single pearl from the moment a diver off the Australian coast scoops up from the ocean floor an oyster with a pearl inside all the way to the instant a woman 10,000 miles away fastens the clasp to a necklace containing the very same pearl.”

Bloom grew up in what he describes as a modest, middle-class family and his mother wore pearls on special occasions, only once or twice a year. He recalls being fascinated with what he thought were white marbles on a string. Bloom admits he’s something of an obsessed detective when it comes to learning all there is to know about the elegant round gems.

“I thought that I would be able to provide readers with an Indiana Jones kind of saga, but also a way to look at the world a little differently,” Bloom says, “to explore the interconnections between global politics, the environment, world finance and high fashion.”

Bloom calls pearls the “original gem,” as they pre-date faceted diamonds and intricate gold jewelry. Pearls, he says, were first on the list of reasons Columbus came to the New World in 1492. In his endeavor to trace the ten-thousand mile journey of a single pearl, from oyster to necklace, Bloom says he ended up traveling three times that distance himself and filled 71 notebooks over four years.

“I did travel 30,000 miles,” Bloom says. “I went to four continents. I hired myself out as a pearling deck hand on an Australian pearling vessel. I tromped through the Philippine jungles. I fished for freshwater pearls in rural China.” On a remote Philippine island, Bloom says he dove for gigantic gold-colored pearls that sell for $10,000 apiece. He also met with the world’s three “reigning pearl lords,” who he says control about 70-percent of the planet’s pearl market.

Bloom will be reading from “Tears of Mermaids” next Friday (June 25th) at 7 PM at Beaverdale Books in Des Moines, his only planned appearance to promote the book. Bloom is the author or co-author of two critically-acclaimed nonfiction books, “The Oxford Project,” (with Peter Feldstein) and “Postville: A Clash of Cultures in Heartland America.” He also wrote a collection of his nonfiction stories, “Inside the Writer’s Mind.”

AUDIO: Interview with Stephen Bloom (6 min)

Congressman Braley to question British Petroleum C.E.O. today

Iowa Congressman Bruce Braley, a Democrat from Waterloo, will take part in another hearing on the Gulf Oil spill disaster today. British Petroleum  C.E.O. Tony Hayward will testify before the House subcommittee on oversight and investigations. Braley is the vice chair of the subcommittee and says he will be interested in hearing from Hayward after talking with two of the widows of the workers killed in the oil platform explosion.

Braley says he will ask Hayward directly about the issues the widows raised. “What is it you are going to do, to accept responsibility, to promptly clean up this disaster, to allow us to begin the things that we have always done, which is production of oil, commercial fishing, tourism in this region. What are you going to do to restore that as quickly as possible so our husbands did not die in vain? That’s the question I’m gonna be asking,” Braley said.

Braley says the president’s national address on the disaster did not cover much new ground, and he would have liked to see the president outline a clear strategy. “Look I know that this is an incredibly difficult task,” Braley says, “President Obama himself is not capable of solving this himself because that is not what he is trained to do. But I think he has to outline a clear vision of what he is doing to make sure that B-P, Trans Ocean and Haliburton are exhausting all potential solutions.”

Braley recently toured the area and says in talking with the Coast Guard commander, it is apparent the only way the oil is going to stop completely is with the drilling of the relief wells. Braley says when you look at the diagrams and the incredible depth they have to go through with the drilling equipment, it is an incredibly difficult job, and that’s why it is taking so long.