This is another one of Cheryl's "weather" songs. It was written about Hurricane Floyd, which went the entire way up the east coast of the U.S. in 1999. It was a very strong hurricane that did a lot of damage in the southern states, and even up into Pennsylvania. However, by the time it got to New England, it had pretty much wound down. The result was a lot of warning, but very little damage in New England. Cheryl was amused by the alarmist nature of the weather forecasters in New England, followed by the whimper of the storm.

If Cheryl thought that "Bob" was a dumb name for a hurricane (See Act of Nature), it seems to me that "Floyd" is even worse. That was a joke :^)