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Volume 27, Issue 4

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Hurricane Sandy Brings Record-Breaking Devastation

Hurricane Sandy powered its way onshore on the Eastern seaboard of the United States on Monday, Oct. 29. As reports are now coming in, the devastation is widespread and continuing to be reported. The storm, billed as a historic super storm, moved into U.S. states on Monday.

It cut power to more than 8.2 million across the East, caused devastating flooding, brought blizzard conditions to other areas and forced the closures of thousands of businesses and schools.

DRJ is following the story closely and will have many reports on this storm in the weeks to come.

A few headlines from this developing story include:

Early Estimates Put Cost at $20 Billion in Damages With Additional Costs Likely

HIS Global Insight, a forecasting firm, has predicted Hurricane Sandy will end up causing about $20 billion in damages. In addition, lost business will add another $10 to $30 billion in losses. According to the report, the storm cut power to about 8 million homes, shut down 70 percent of East Coast oil refineries and inflicted worse-than-expected damage in the New York metro area. That area produces about 10 percent of U.S. economic output.

http://news.msn.com/us/storms-cost-may-hit-dollar50b-rebuilding-to-ease-blow

Death Toll Climbs to 39 on Oct. 30

Hurricane Sandy has led to the death of at least 39 people throughout the U.S. East Coast. An additional 69 people were killed in the Caribbean as the storm swept through. Many of the U.S. victims were killed by falling trees, said emergency responders. Rescue work continues and the toll is most likely to grow.

http://news.msn.com/us/sandys-us-toll-climbs-to-39-82-million-without-power

Transportation Severely Delayed or Damaged

Sandy brought a huge blow to the travel and transportation industries. Major airports throughout the U.S. East Coast closed Monday and remained closed through Tuesday. Flights from around the world have been canceled or delayed due to the storm.

Ground travel has been equally impacted with the closure of highways, bridges and buslines. The NYC subway system received severe damage when sea water rushed into the tunnels. Experts predict weeks of recovery before any type of normalcy returns to the transportation and travel industries.

http://www.latimes.com/business/money/la-fi-mo-flights-canceled-by-super-storm-sandy-20121030,0,864344.story

http://usnews.nbcnews.com/_news/2012/10/30/14808701-sandy-leaves-nyc-subway-system-infrastructure-licking-its-wounds?lite

Dozens of Home Burn in NY Neighborhood

Fueled by high winds and downed power lines, a fire blazed through the Breezy Point neighborhood in New York, destroying at least 80 homes. The six-alarm blaze touched off Tuesday as Hurricane Sandy was making its way through the area, creating a difficult situation for fire and rescue teams.

http://www.cnn.com/2012/10/30/us/new-york-storm-fires/index.html?iid=article_sidebar