What is going on?
As of this evening, the National Hurricane Center is tracking three tropical cyclones in the Atlantic and Caribbean: Tropical Strom Jean, Tropical Storm Karl, and Tropical Depression Ivan.

Incidentally, if you're wondering about future storm names, they've already been selected through 2009 (or, as noted below, for subsequent years also). Here are the names for 2004:

Alex
Bonnie
Charley
Danielle
Earl
Frances
Gaston
Hermine
Ivan
Jeanne
Karl
Lisa
Matthew
Nicole
Otto
Paula
Richard
Shary
Tomas
Virginie
Walter

A comment on names:

Experience shows that the use of short, distinctive given names in written as well as spoken communications is quicker and less subject to error than the older more cumbersome latitude-longitude identification methods. These advantages are especially important in exchanging detailed storm information between hundreds of widely scattered stations, coastal bases, and ships at sea.

Since 1953, Atlantic tropical storms have been named from lists originated by the National Hurricane Center and now maintained and updated by an international committee of the World Meteorological Organization. The lists featured only women's names until 1979, when men's and women's names were alternated. Six lists are used in rotation. Thus, the 2004 list will be used again in 2010. Here is more information on the history of naming hurricanes.

The only time that there is a change in the list is if a storm is so deadly or costly that the future use of its name on a different storm would be inappropriate for reasons of sensitivity. If that occurs, then at an annual meeting by the WMO committee (called primarily to discuss many other issues) the offending name is stricken from the list and another name is selected to replace it.

Several names have been changed since the lists were last used. Four names from the 1995 list have been retired. On the 2001 list, Lorenzo has replaced Luis, Michelle has replaced Marilyn, Olga has replaced Opal, and Rebekah has replaced Roxanne. Three names from the 1996 list have been retired. On the 2002 list, Cristobal has replaced Cesar, Fay has replaced Fran, and Hanna has replaced Hortense. Two names from the 1998 list have been retired. On the 2004 list, Gaston has replaced Georges and Matthew has replaced Mitch. On the 2006 list, Kirk has replaced Keith.