The family decided to take a lump sum payment of $14 million, which is worth about $10 million after taxes.» Read More
Beaches along the Atlantic coast took a beating over the weekend from Hurricane Irene, which caused heavy damage to some popular seaside tourist towns while sparing others the worst of its powerful wind and waves.
CNBC's Bertha Coombs looks at the impact of Irene on the Port of Balitimore, one of the largest on the East Coast. NJ Transit announces it will not operate Monday. Also, CNBC's Darren Rovell looks at the impact on the economy of Montauk, a haven for the rich and famous on Long Island. Ron Pohl, sr. vp, Best Western International, talks about how Irene has affected his company's revenue and possibly, earnings. And Scott Durchslag, Expedia Worldwide, talks about the impact on the overall travel industry.
Michael Brown, Cold Creek Solutions and former FEMA director, discusses whether officials went overboard in warning residents on the East Coast.
Irene is the country's tenth multi-billion-dollar disaster this year. CNBC's Brian Shactman looks at the impact the blizzards, tornadoes, and now hurricanes, have had on the insurance industry in the U.S. Chuck Watson, Kinetic Analysis Corporation, discusses the dollar damages face by insurance companies, and how they've worked to mitigate losses. The storm, it turns out, was not nearly as bad as was expected.
CNBC's Bob Pisani and Phil LeBeau discuss opening Wall Street and the airlines, respectively. And former American Airlines Chairman & CEO Robert Crandall discusses the logistics of getting airlines and airports back up and running. And millions of homes on the East Coast are currently without power.
Damage from Irene appears to be less than feared, a bit of reassuring news for a fragile economy.
From North Carolina to Pennsylvania, Hurricane Irene appeared to have fallen short of the doomsday predictions. But with rivers still rising, and roads impassable because of high water and fallen trees, it could be days before the full extent of the damage is known.
Although, initially a Category 1 hurricane and now only a tropical storm, Irene is testing flood-level records in New York City and in much of the Northeast, raising casualty loss estimates to $20 billion. Two days of lost economic activity, over a period of a week, is almost certain, and adds another $20 billion. Longer term, rebuilding and postponed business activity will make up much of the near term impact on the economy.
Hurricane Irene and the closure of at least 1,000 theater locations along the East Coast is expected to put a dent in this weekend's domestic box office.
From emergency preparation to landfall, see how the Northeast is impacted by Hurricane Irene.
With more than 50 million people potentially in Hurricane Irene's path, residents along the US east coast stocked up on food and water and worked to secure homes, vehicles and boats.
Fame is no longer protection from foreclosure, and neither is success. Who are some of the celebrities who have gone through a foreclosure? Find out!
Debating the future of the teen retailer and it's controversial decision to pay cast members of MTV's "Jersey Shore" not to wear its brand on air, with Stacey Widlitz, independent retail consultant, and Patrick McKeever, MKM Partners.
There are vast economic development opportunities in efficiency, renewable energy, and converting waste into valuable assets, says blogger Terry Tamminen.
The cast of "Jersey Shore" aren't the only ones getting into fights this summer: Many unassuming beachgoers are finding unexpected battles on the way to sun and sand, everything from parking restrictions to food bans.
New Jersey Gov. Chris Christie is undergoing tests at a hospital after he had difficulty breathing.
A heat wave that spread from the Midwest to the Northeast tormented millions of people with blasts of 100-degree temperatures and bog-like humidity as blackouts struck neighborhoods and deaths were blamed on the hot weather.
Weighing in on fiscal problems facing many states and what needs to be done to ease growing deficits, with Jon Corzine, MF Global chairman/CEO.
The state of New Jersey is negotiating a credit line for up to $2.25 billion to cover a shortfall in the state budget, according to a report in the Wall Street Journal, citing unnamed sources.
CNBC's Rick Santelli weighs in on New Jersey's money problems and its impact on the bond market.