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$40 BB – Asteroid Insurance

This has become a hot topic since the meteor explosion over Russia earlier this year. We are inching closer to protecting our planet from unfriendly visitors from the sky.  (A brief definition: An asteroid is a smaller version of a planet with a rocky surface and no atmosphere. If it enters the earth’s atmosphere, it is known as a meteor. If it survives the fall, the pieces are meteorites.)

“….scientists have identified 95% of asteroids more than a half-mile in diameter — the kind that threaten human existence if they strike Earth, like the six-mile-wide one believed to have wiped out dinosaurs 65 million years ago — and found none on a collision course with the planet.The good news is that the chances an asteroid big enough to destroy a continent or all of civilization will hit Earth this year are only one in 20,000, a congressional panel learned Tuesday.” – CNN

Now, I’m listening. Americans flock to play the lotteries – those odds are millions to one.  Only 20,000 to 1 to wipe out the earth?  The article continues…

“…scientists have identified 95% of asteroids more than a half-mile in diameter — the kind that threaten human existence if they strike Earth, like the six-mile-wide one believed to have wiped out dinosaurs 65 million years ago — and found none on a collision course with the planet. Only 10% of meteors more than 150 yards wide — dubbed “potential city killers…have been detected, meaning more than 10,000 are out there without our knowledge.”

Message: Fiscal responsibility. Focus on effective capital spending (like protecting the human race). And, keep an eye on the heavens!

-Mark Schuster, Partner

March 20, 2013

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