KNTV's Scott Budman reports tornadoes have touched down in Alabama, Tennessee, and Indiana, killing three people in southern Indiana; Citi's chairman, Dick Parson is stepping down from the board after sixteen years; GM is halting production of the Volt for five weeks due to slow production; and shares of online review site, Yelp, soared 64% in its first day of trading.
CNBC's Bertha Coombs reports GOP presidential candidate, Rick Santorum says he might not be a better businessman, but he'll make a better president; the Midwest is still reeling from deadly tornadoes; and AT&T says it is capping its data plans on 3G and 4G smartphones, and will now charge penalities to data hogs.
Hurricane Irene was the 'Perfect Storm' for insurers in a different sense of the cliche. The weakened storm that spared New York city from major damage gave the wealthy and rarely hit Northeast enough of a scare because of ominous weather forecasts leading up the storm that property insurers will be able to raise pricing even more next year, according to a Morgan Stanley analyst.
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.
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 Phil LeBeau has the details on airlines in the process of preparing to move planes back to the Northeast, CNBC's Sharon Epperson has the update on oil and gas refineries shut down for safety concerns, Bob Pisani & Bertha Coombs take a look at the storm floods and damage in lower Manhattan and Baltimore; and insight on whether Wall Street will be back to normal tomorrow, with Dan Dicker, TheStreet.com and Rich Ilczyszyn, MF Global.