Business Interruption Continues: Sandy Still Hampering Wall Street
Some 40-odd days after Sandy hit New York, some traders — like other businesses — are still forced to use back-up facilities.
December 12, 2012
It's been more than a month since superstorm Sandy hammered the New York metropolitan area, but the city still isn't back to normal. Sections of the Rockaways on Long Island continue to rebuild and recover. Portions of the Jersey shore are still devastated. PATH train service from New Jersey to lower Manhattan is disrupted, forcing thousands of financial services employees who work in and around the financial district to figure out another way to get to the office. Most surprising, yet unknown to many, is that many buildings in the areas flooded in lower Manhattan remain without power to this day. Yes, some 40-odd days later, some buildings are still waiting to get the lights turned back on. It turns out that almost everything that was touched by flood waters in these buildings needed to be removed, replaced and inspected before being connected back to the power grid. Wiring, transformers, telecom equipment, boilers, insulation, sheetrock and carpeting, to name a few... Read full story on Wall Street & Technology
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