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David Hockney, younger of the two grandest old men of British art still living, was once told that his double portraits conform to the traditional iconography of The Annunciation: one figure permanent, the other "kind of visiting", one the Virgin Mary concentrating on a book; the other the Archangel Gabriel arriving with news that is not entirely welcome. I thought, not of this, but of something very like it a week or two ago, when David and I encountered each other as, in Kensington High Street, we crossed a busy side road. For a moment we were frozen in unexpected recognition, and then, in imminent danger from uncaring traffic, with tender touches each old buffer steered the other to the kerb. This, I thought, was just like The Visitation, though which of us might be the Virgin and which Elizabeth her cousin, I did not pursue.
(RTTNews) - The direction of the economy has become a contentious issue. Economists are divided in their views, with a few suggesting that the economy faces the threat of a recession, while others say it is just a moderation in growth that is currently underway. That leads us to the question as to what will be the Fed's stance going forward under both scenarios. According to Wachovia Securities economist John Silvia, the Fed's greater concern now is the state of the economy. Silvia believes that the central bank will focus on avoidance of further weakness in the economy rather than attempting to lower inflation. His outlook is for no change in the Fed funds rate through the end of the year. The Home Sales data for August released last week came in above market expectations. Existing Home Sales eased 0.5% to 6.30 million units, but still bettered the consensus expectation, while New Home Sales unexpectedly climbed 4.1% to 1.050 million units.
With the Hart district's forensic audit results anticipated within the next few weeks, details of how the modernization of three local schools went far over budget may be surfacing already. At the last board meeting, Paul Rivas, director of facilities and modernizations, plotted how costs at each of the schools - Canyon and Saugus high schools and Arroyo Seco Junior High School - skyrocketed from the original total estimate of approximately $103 million to the anticipated $141 million the projects will cost through next year. By the projects' end, Canyon High will have cost nearly $50 million - $13.8 million over original estimates, Saugus High will have cost more than $48 million - almost $7.6 million over plans and Arroyo Seco Junior High will have cost $43.1 million - about $20 million over original cost estimates.
City officials are concerned that a pond built to control runoff water could pose a structural threat to the nearly completed Lakeside 370 Business Park levee.
As a result, City Administrator Bill Charnisky is seeking authority to spend $252,000 to cope with the matter if no other solution is found soon.
The concern is whether sand was exposed during excavation for the pond, which is just outside the levee in the Mississippi River flood plain. If sand is exposed, water from a major flood could seep under the levee and weaken it, Charnisky said.
Trinity Products Inc. built the pond to hold rainwater runoff from its 45-acre plant site in St. Charles, just east of the Lakeside 370 levee.
Trinity's owner, Robert Griggs, said Friday that the pond had been built to proper specifications, adding that the project was under way months before levee construction began last year.
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