Hurricane Sandy has, without a doubt, already caused an enormous toll on human life and businesses alike. As with all major events, it is important to track the road to recovery. This is where, for the time being, we at Industrial Distribution will compile news about Hurricane Sandy, its aftermath, and how that will affect the American distribution landscape. This will be consistently updated as more news arrives, so check back often.
Update - Tuesday, October 30th, 2012 -8:30 AM
Hurricane Sandy took dead aim at New Jersey and Delaware on Monday, with sheets of rain and wind gusts of more than 90 mph (145 kph) knocking out electricity and causing major disruptions for companies, travelers and consumers. But for the overall economy, damage from the storm will likely be limited. And any economic growth lost to the storm in the short run will likely be restored once reconstruction begins, analysts say. Americans may even spend more before the storm when they stock up on extra food, water and batteries.
Preliminary estimates are that damage will range between $10 billion and $20 billion. That could top last year's Hurricane Irene, which cost $15.8 billion. If so, Hurricane Sandy would be among the 10 most costly hurricanes in U.S. history. But it would still be far below the worst — Hurricane Katrina, which cost $108 billion and caused 1,200 deaths in 2005.
Update - Wednedsay, October 31st, 2012 -9:00 AM
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.
Update - Thursday, November 1st, 2012 -4:15 PM
Frustration — and in some cases fear — mounted in New York City on Thursday, three days after Superstorm Sandy. Traffic backed up for miles at bridges, large crowds waited impatiently for buses into Manhattan, and tempers flared in gas lines.
Update - Thursday, November 1st, 2012 -4:30 PM
In parts of New York and New Jersey, drivers lined up Thursday for hours at gas stations that were struggling to stay supplied. The power outages and flooding caused by Superstorm Sandy have forced many gas stations to close and disrupted the flow of fuel from refineries to those stations that are open. At the same time, millions of gallons of gasoline are sitting at the ready in storage tanks, pipelines and tankers that can't unload their cargoes.
Update - Friday, November 2nd, 2012 - 2:00 PM
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 94 people in the United States. Power outages now stand at more than 3.6 million homes and businesses, down from a peak of 8.5 million. Here's a snapshot of what is happening, state by state.
Update - Wednesday, November 7th, 2012 - 8:30 AM
Residents of New York and New Jersey who were flooded out by Superstorm Sandy waited with dread Wednesday and heard warnings to evacuate for the second time in two weeks as another, weaker storm spun toward them and threatened to inundate their homes again or simply leave them shivering in the dark for even longer.
Update - Friday, November 9th, 2012 - 1:00 PM
A gasoline rationing plan that lets motorists fill up every other day went into effect in New York on Friday morning, as utility crews made some progress erasing outages that put thousands of new homes and businesses in the dark in a region still reeling from Superstorm Sandy.