Allegiance Capital Corporation News

Fred McCallister, an investment banker with Allegiance Capital Corporation, sent a letter to Incident Commander Admiral Thad Allen on June 17 asking for a limited waiver of the Jones Act, to enable 12 to 25 foreign flagged skimmer ships to assist in clean-up efforts in the Gulf. "Many in the Gulf have been calling for this equipment, which can collect 3,500 gallons of oil per hour per vessel from Gulf waters. With estimates now at 2.5 million gallons of oil spilling into the Gulf every day, the urgency can't be overstated," said McCallister, a Vice President at Allegiance Capital.