in the Middle East and advised on some of the region's biggest transactions, including Emirates International Investment Co.'s $1.5 billion acquisition of a 3% stake in media giant Vivendi SA and Kuwaiti telco Zain in the failed $12 billion takeover attempt by Etisalat of the United Arab Emirates. His hire represents an increasing trend among private banks of hiring well-connected investment bankers to deal with ultra-high net worth clients, which banks generally view as those who bring more than $50 million in assets to be banked. Momdjian "brings with him deep relationships and unrivalled experience expand our market positions in higher margin, higher growth and less cyclical global markets like personal care and pharmaceuticals," said Ashland Chairman and Chief Executive James J. O'Brien. Ashland plans to close the acquisition by the fourth quarter and expects the deal to immediately add to earnings. The company projects about $50 million of annualized run-rate cost savings by the second year through the elimination of redundancies and more efficient operations. ISP has the right to a $413 million termination fee if Ashland fails to obtain financing. Ashland has committed financing from Citi, Bank of Nova Scotia, Bank of America Merrill Lynch and U.S. Bank National Association, subject to customary terms and conditions. Ashland reported in April its fiscal second-quarill live in FEMA trailers nearly six years after Hurricane Katrina. Another FEMA spokesman, Bob Josephson, said the agency will consider bringing trailers to Joplin if enough existing housing isn't available. He said every effort will be made to find existing rental units closest to Joplin and that many residents may simply choose to find their own housing options. People who lived in the 8,000 structures smashed in the storm have scattered to the homes of friends and relatives or camped out in emergency shelters in the city. Some may leave town — New Orleans lost nearly one-third of its population after Katrina. Penny Musgraves is happy — and almost surprised — to be alive. But for Musgraves, whose low-income townhouse was ripped away above her head as she protected her cowering 6-year-old daughter, the joy of surviving is beginning to give way to confusion and anxiety about the future. "I'm kind of scared," said the 45-year-old mother, who is unemployed and currently living with her daughter at the Red Cross shelter set up at Missouri Southern State University. "There isn't much low-income housing. I can't rent a place. I don't know what I'm going to do." While many of the survivors had insurance, it could be months, if not years, before they can rebuild. Removing the millions of tons of debris and remaking the city's destroyed infrastructure will likely take well into the summer if not longer. Rebuilding homes can't start until that work is finished. For low-income residents, the Housing Authority of Joplin provides some housing. But it was not known how many, if any, of the homeless it can accommodate. Recent history suggests many people won't be able to wait for the answers to emerge or for the rebuilding to be completed. The current population could drop substantially. New Orleans lost 29 percent of its population after Hurricane Katrina as residents left and settled elsewhere. Greensburg, Kan., which was leveled by a tornado in 2007, lost about half its population even though the town was rebuilt. It dropped from 1,574 before the tornado to 777 in 2010. At the Red Cross shelter, 150 people seemed grateful for the cot, warm food and donations of clothing. Many were trying to figure out where to go next. Ask 64-year-old William Whittenback where