[PAULYPOKER]

Hurricane Sandy is churning off the East Coast and is expected to join up with two other weather systems to create a huge and problematic storm affecting 50 million people. Here's a snapshot of what is happening or expected, state by state.
CAROLINAS
The storm lashed barrier islands off North Carolina and rendered several homes and businesses nearly inaccessible. About 90 miles off the coast, a tall ship carrying 17 people was in distress; the Coast Guard was monitoring.
CONNECTICUT
The number of power outages increased quickly in a state where utilities' response to past weather-related failures has become a political issue. Connecticut Light & Power says hundreds of customers are without power. Gov. Dannel P. Malloy asked a task force to ensure fuel suppliers are fully stocked. Many residents along Long Island Sound heeded warnings and evacuated.
DELAWARE
Hundreds of people fled to shelters as rough surf pounded the coast. Water covered some roads.
KENTUCKY
Snow is expected in mountainous areas.
MAINE
Officials predict coastal flooding and beach erosion, and utility crews have been brought in from Canada to handle anticipated power failures.
MARYLAND
Baltimore is opening six shelters; several city intersections are closed because of flooding threats. Early voting, which began Saturday and was to run through Thursday, was canceled for Monday.
MASSACHUSETTS
Utilities brought in crews from as far away as Texas and the Midwest to cope with anticipated power failures. Most schools and colleges have canceled classes. The Boston transit authority said it would continue to operate as long it was safe.
NEW HAMPSHIRE
Gov. John Lynch put 100 National Guard soldiers on active duty to help with preparations. Two shelters are being set up, and some schools have closed.
NEW JERSEY
Sandy's center is expected to make landfall in New Jersey late Monday. By daybreak, thousands of homes and businesses were without electricity. Thousands of people evacuated low-lying areas, and many inland towns hit by flooding from storm Irene last year issued evacuation orders.
NEW YORK
Many residents left low-lying flood evacuation zones, and the subway system shut down Sunday night. A storm surge of 11 feet is possible, the highest of all coastal areas being hit by Sandy. The New York Stock Exchange and other U.S. financial markets shut down for at least the day. Thousands of flights were canceled at the city's major airports.
OHIO
Residents of low-lying areas and along Lake Erie were told to watch for flooding; utilities are anticipating high winds that could blow down trees and poles. Snow is forecast in some areas.
PENNSYLVANIA
Many schools closed. Philadelphia shut down its mass transit system, and hundreds of flights were canceled at the city's airport. Dozens of people took shelter at evacuation centers. Thousands of members of the National Guard have been told to be ready for deployment.
RHODE ISLAND
Several communities have ordered mandatory evacuations and many schools closed for the day. Big waves are expected to cause flooding along Narragansett Bay, which bisects the state. Authorities told people to be prepared for long periods without power.
TENNESSEE
Snow is expected in higher elevations, where a freeze warning has been issued. High winds are expected in many areas.
VIRGINIA
About 2,000 customers lacked power, and a utility said as many as 1 million could ultimately lose electricity. Many residents of Chincoteague Island, popular with tourists, shrugged off the idea of evacuation.
VERMONT
Gov. Peter Shumlin declared a state of emergency to provide access to National Guard troops in a state still recovering from the devastating effects of the remnants of Hurricane Irene. Culverts and storm drainage basins in some spots have been cleared of debris.
WASHINGTON, D.C.
The capital area's transit system shut down rail service for the first time since 2003, and the Smithsonian Institution closed for the day.
WEST VIRGINIA
As much as 2 to 3 feet of snow was forecast in mountainous areas, and flooding was possible in some areas. Several shelters were put on standby, and power crews were mobilized to handle potential failures.

[acl123]

over $1,000,000,000

[KingJD31]

Over ten thousand on li lost power already and it didn't even hit yet,

[KingJD31]

The tri state blacks are putting on their timberlands getting ready to get a free TV

[PAULYPOKER]

[PAULYPOKER]

Sandy may cause $25 billion in damages and overall cost to economy maybe $100 billion. Evan Myers has details.


Mega Sandy Set to Smash East Coast

[floridagolfer]

Wall Street and lower Manhattan are going to be whacked. If it's under water for a week I won't be surprised.

[crustyme]

hopefully less than bush's wars.

[ramones951]

Several billion.... My guess is 7 Billion

[NYSportsGuy210]

Wall Street and lower Manhattan are going to be whacked. If it's under water for a week I won't be surprised.

Typical statement from a non-New Yorker lol

[PAULYPOKER]

A state-by-state look at superstorm's effects


The massive storm that started out as Hurricane Sandy slammed into the East Coast and morphed into a huge and problematic system, killing at least 75 people in the United States. Power outages now stand at more than 4.6 million homes and businesses, down from a peak of 8.5 million. Here's a snapshot of what is happening, state by state.
CONNECTICUT
Patience is tested again as residents weather another long stretch without power in a state where outages have become a political issue after repeated storms. Deaths: 3. Power outages: 345,000, down from a peak of more than 620,000.
DELAWARE
Governor lifts state of emergency and authorizes National Guard to continue cleanup support. Shelters close. Deaths: none. Power outages: 500, down from more than 45,000.
KENTUCKY
The last remnants of Sandy drop more snow in the mountains on top of a foot that already fell. Deaths: none. Power outages: 3,000.
MAINE
Amtrak's Downeaster resumes service. Governor sends forest rangers to New York City to help with recovery there. Deaths: none. Power outages: 3,300, down from more than 90,000.
MARYLAND
Residents return to polls after storm forced cancellation of early voting for two days. Deaths: 3. Power outages: 47,345, down from 290,000.
MASSACHUSETTS
Storm shifted a dead whale that had been left to rot on the shoreline to a spot where scientists can now recover the bones before it is buried. Deaths: none. Power outages: 19,500, down from 400,000.
MICHIGAN
Cargo shipping on the Great Lakes resumes after high waves subside. Deaths: none. Power outages: 10,000, down from 154,000.
NEW HAMPSHIRE
Surprise "microburst" from vestiges of storm topples pines onto lake cottages. Trick-or-treating postponed to Sunday. Deaths: 1. Power outages: 16,000, down from 210,000.
NEW JERSEY
Debate rages about whether to rebuild delicate but popular barrier islands a day after President Barack Obama tours them by air. National Guard delivers food and water to people in flooded Hoboken. Deaths: 14. Power outages: 1.76 million, down from 2.7 million.
NEW YORK
New York City subways partially reopen, but streets are still choked with traffic. LaGuardia Airport set to reopen; the city's other two major airports already started limited flights. It could be days before power is fully restored. Deaths: 30, including 22 in New York City. Power outages: 1.6 million, down from 2.2 million.
NORTH CAROLINA
Sea search continues for the captain of a tall ship that sank. Deaths: 2. Power outages: mostly restored.
OHIO
Cleanup begins after another day of steady rains and gusty winds that led to flood warnings along Lake Erie. Deaths: 2. Power outages: 100,000, down from more than 250,000.
PENNSYLVANIA
Utility crews struggle to restore power in state where most damage was driven by wind, not water. Deaths: 12. Power outages: 525,000, down from 1.2 million.
RHODE ISLAND
Power outages and impassable roads mean some residents may not be able to return home for days in some coastal communities. Deaths: none. Power outages: 35,000, down from more than 122,000.
TENNESSEE
Elizabethton businesses close off a street and cover sidewalks for trick-or-treaters as snow falls in mountainous areas. Deaths: none. Power outages: minimal.
VERMONT
Amtrak works to restore service to the state after tracks were damaged in other areas. Deaths: none. Power outages: mostly restored, down from more than 10,000.
VIRGINIA
National Guard winds down most recovery operations. U.S. Navy sends three Virginia-based ships toward the Northeast in case they're needed. Deaths: 2. Power outages: 9,300, down from more than 180,000.
WASHINGTON, D.C.
Early voting resumes after being shut down for two days, and hours are extended. Federal workers return, National Mall reopens. Deaths: none. Power outages: mostly restored, down from 25,000.
WEST VIRGINIA
Last remnants of Sandy drop more snow; some areas have seen nearly 3 feet. Eight buildings collapse in Nicholas County; no injuries reported. Deaths: 6. Power outages: 154,000, down from about 271,000.

[ChalkyDog]

Define cost?

It will cost tax payers (insert ridiculous number) of dollars.

But, those dollars will be funneled (taxed by the handlers of pork) into the damaged communities, and construction workers among a number of other industries will be given employment. Fortunes will be made in this, many. So, if you figure in that into cost....

Insurance companies, those guys will hand out the money owed slowly if at all. Many of the people who lost everything will never be whole again. They lost stuff that no dollar amount can bring back, and the stuff that can be given a dollar amount will be a struggle to get because of these insurance companies, that have happily cashed every single insurance payment, but will now give their customers nowhere near an equitable amount as they prey off the desperation. So by adding that into the cost...

It's a lot. Glad it wasn't worse.

[PAULYPOKER]

Yep,one man's loss is another man's fortune............

[PAULYPOKER]

Hurricane Sandy Estimated to Cost $60 Billion


(WASHINGTON) — Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.
In the long run, the devastation the storm inflicted on New York City and other parts of the Northeast will barely nick the U.S. economy. That’s the view of economists who say a slightly slower economy in coming weeks will likely be matched by reconstruction and repairs that will contribute to growth over time.
The short-term blow to the economy, though, could subtract about 0.6 percentage point from U.S. economic growth in the October-December quarter, IHS says. Retailers, airlines and home construction firms will likely lose some business.
The storm cut power to more than 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.
(MORE: Photos: After the Fury — Capturing Sandy’s Devastation)
New York City was all but closed off by car, train and air. The superstorm overflowed the city’s waterfront, flooded the financial district and subway tunnels and cut power to hundreds of thousands. Power is expected to be fully restored in Manhattan and Brooklyn within four days.
The New York Stock Exchange will reopen for regular trading Wednesday after being shut down for two days. There’s no evidence that the shutdown had any effect on the financial system or the economy. But Jim Paulsen, chief strategist at Wells Capital Management, said further delays might have rattled consumers and dampened their spending. ”It’s about confidence,” Paulsen said. “We’re watching these horrific images of the storm, and people are thinking whether they should ahead with that big purchase ….It doesn’t do any good to have another day with headlines saying the U.S can’t figure out how to open its stock exchange.”
Most homeowners who suffered losses from flooding won’t be able to benefit from their insurance policies. Standard homeowner policies don’t cover flood damage, and few homeowners have flood insurance.
But Fannie Mae and Freddie Mac said they will offer help to borrowers whose homes were damaged or destroyed, who live in designated disaster areas and whose loans the mortgage giants own or guarantee. Among other steps, mortgage servicers will be allowed to reduce the monthly payments of affected homeowners or require no payments from them temporarily.
(MORE: Sandy and Climate Change: Preparing for a Warmer World)
Across U.S. industries, disruptions will slow the economy temporarily. Some restaurants and stores will draw fewer customers. Factories may shut down or shorten shifts because of a drop in customer demand.
Some of those losses won’t be easily made up. Restaurants that lose two or three days of business, for example, won’t necessarily experience a rebound later. And money spent to repair a home may lead to less spending elsewhere.
With some roads in the Northeast impassable after the storm, drivers won’t be filling up as much. That will slow demand for gasoline. Pump prices, which had been declining before the storm, will likely keep slipping. The national average for a gallon of regular fell by about a penny Tuesday, to $3.53 — more than 11 cents lower than a week ago.
Shipping and business travel has been suspended in areas of the Northeast. More than 15,000 flights across the Northeast and the world have been grounded, and it will take days for some passengers to get where they’re going.
On Tuesday, more than 6,000 flights were canceled, according to the flight-tracking service FlightAware. More than 500 flights scheduled for Wednesday were also canceled.
The three big New York airports were closed Tuesday. New York has the nation’s busiest airspace, so cancellations there drastically affect travel in other cities.
(MORE: Region Hit by Sandy Struggles to Resume Daily Life)
Economists noted that the short-term hit to the economy was worsened by the size of the population centers the storm hit. ”Sandy hit a high-population-density area with a lot of expensive homes,” said Beata Caranci, deputy chief economist at TD Bank.
Hurricane damage to homes, businesses and roads reduces U.S. wealth. But it doesn’t subtract from the government’s calculation of economic activity.
By contrast, rebuilding and restocking by businesses and consumers add to the nation’s gross domestic product — the broadest gauge of economic production. GDP measures all goods and services produced in the United States.
Paul Ashworth, chief U.S. economist at Capital Economics, expects the storm to shave 0.1 to 0.2 percentage point from annual economic growth in the October-December quarter. He thinks the economy will grow at an annual rate of 1.5 percent to 2 percent in the fourth quarter. It grew at a 2 percent annual rate last quarter.
But Ashworth said any losses this quarter should be made up later as rebuilding boosts sales at building supply stores and other companies. ”People will load up on whatever they need to make repairs — roofing, dry wall, carpeting — to deal with the damage,” he said.
In the short run, Caranci said the economic damage could be worst for small businesses that lack the money and other resources to withstand lost sales. ”It will remain to be seen how long disruptions to electricity and infrastructure persist,” she said.
But she noted that the storm should help the construction industry, which shed millions of workers after the housing bust. Many who lost construction jobs were skilled employees with disproportionately high pay, and the loss of those jobs hit the economy hard.
Major retailers began trying Tuesday to ramp up their operations before the critical holiday shopping period.
(MORE: Lessons from Katrina and Other Natural Disasters)
Sears Holdings Corp., which operates Kmart and Sears, said 80 of its stores were still closed at midday Tuesday, down from 187 Monday. Wal-Mart Stores Inc., the world’s biggest retailer, said it was working to reopen the 168 stores it closed. And Darden Restaurants Inc., parent of Olive Garden and Red Lobster, by Tuesday afternoon had reopened roughly 160 of the 260 restaurants it closed Monday.
Retailers collect up to 40 percent of their annual revenue in November and December. Retailers, excluding restaurants, could lose at least $25 billion in sales this week, estimates Burt Flickinger III of retail consultancy Strategic Resource Group. Because of the storm, he’s reduced his forecast for holiday sales to a 2.1 percent increase over last year from the 3.2 percent increase he had predicted earlier.
Reopening is often difficult after a storm. Because New York’s subways and buses remained closed Tuesday, it was hard for many employees to get to work. Macy’s and Saks Fifth Avenue flagship stores stayed closed Tuesday — bad news for those retailers, because major department stores can derive 10 percent of annual sales from their Manhattan locations.
Still, those stores that could open for business did. A Westside Market in Manhattan remained open 24 hours a day throughout the storm, even though only about 20 percent of workers managed to show up Monday and Tuesday. ”They found a way to get here — I don’t know how,” store manager Jay Bilone said.
Insured losses from the superstorm will likely total $5 billion to $10 billion, the forecasting firm Eqecat estimates. Insurance losses are typically a fraction of the overall cost.
Chubb, Allstate and Travelers are the insurers most likely to suffer losses, said Greg Locraft, an analyst at Morgan Stanley. Those companies claim a major share of the affected areas.
But “as an insurance event, Sandy is going to be a blip on the balance sheet,” said Duncan Ellis, U.S. property practice leader at Marsh, the insurance broker. “2012 has been a relatively catastrophe-free year.”
Economists expect actual property damages from Hurricane Sandy to exceed those caused last year by Hurricane Irene, which cost $15.8 billion. Irene had little effect on the nation’s growth.
Sandy will likely be among the 10 costliest hurricanes in U.S. history. It would still be far below the worst — Hurricane Katrina, which cost $108 billion in 2005.
But “there is every reason to believe that the hurricane won’t kick the legs out of an already-fragile U.S. economy,” Caranci said.
– By CHRISTOPHER S. RUGABER and MARTIN CRUTSINGER


Read more: http://business.time.com/2012/10/31/...#ixzz2Ayx34t98

[Let's Go Rangers]

60 billion

so cut that by 66% if the private sector was taking care of it

[ChalkyDog]

60 billion

so cut that by 66% if the private sector was taking care of it

It would be more efficient, if it was 100% private sector funding - but the insurance companies would much better prefer the tax payers picking up the tab.

Also, outside of the people you vote for - the only people getting paid on this pork is the private sector.

So, why the hell would the private sector choose to work more efficiently and only get paid 66% when the alternative is 100% of the money and only 66% of the work.

[PAULYPOKER]

In other words, the private sector is handling the situation...........

[BIGDAY]

What ever figure they come out with... You can double it.

Home insurance is going up folks.

[ramones951]

They say as a good rule of thumb for hurricanes... to multiply the insured losses 3x that new number is total damage caused (insured and uninsured)

[Let's Go Rangers]

the worst part is if people try to rebuild in New Jersey and Obama wins, the EPA ( tree hugging environmentalist wackos)
will want to do environmental studies to make sure sand fleas arent harmed

[k13]

Nothing. Stock market going up.

Rich getting richer.

Poor getting poorer.

Everyone has to buy new things and rebuild. More money spent, more jobs, more things to do.

Economic Equilibrium.