Friday, April 23, 2010

Global Impact of Volcano

Like a circle in a spiral
Like a wheel within a wheel
Never ending or beginning
On an ever-spinning reel
As the images unwind
Like the circles that you find
In the windmills of your mind
- lyrics to "Windmills of Your Mind"

In our global economy everything is interconnected. And with "Just in Time" warehousing there is little margin for error in delivery schedules. CBSNews.com has listed some of the global side effects of the volcano in Iceland:

• The lack of refrigeration facilities at the capital airport of Ghana has hurt pineapple and pawpaw farmers who are unable to fly their produce to Europe.

• Kenya has thrown away 10 million flowers since the eruption. Asparagus, broccoli and green beans meant for European dinner tables are being fed to Kenyan cattle instead. Thousands of day laborers are out of work.

• In New York City's Flower District, thousands of dollars worth of tulips, peonies, daffodils and other varieties from the Netherlands are not arriving. Last weekend's weddings didn't have Dutch flowers.

• The U.S. economy is losing approximately $130 million per day in travel revenue. Every international flight bound for the U.S. is worth an average of $450,000 in spending from travelers.

• Three Nissan production lines in Japan will stop all day Wednesday because tire pressure sensors from Ireland have not arrived, 2000 vehicles will be delayed.

• A group from Sierra Leone and Liberia had to abandon a fact-finding trip to The Hague for the war crimes trial of former Liberian President Charles Taylor.

• Cambridge University's modern and medieval languages faculty delayed oral exams after students and examiners were left stranded last week.

Bottom Line

Expect price increases in flowers and produce.

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