Irene Blog: Business Impact
IRENE IN 3D
Friday, 8/26/11 3:42 PM/ET: OMG -NASA’s View of Hurricane Irene in 3-D
OK, ok, ok, I give...UNCLE!!!!
NASA has been busy imaging the hurricane from space.
Meanwhile, NASA has been busy imaging the hurricane from space.
Posting multiple images of the storm, the space agency’s Tropical Rainfall Measuring Mission (TRMM) has provided important information on “rainfall rates, hot towering clouds that act as hurricane heat engines, and cloud heights.”
As the TRMM satellite repeatedly sweeps over Irene, we are seeing the hurricane as never before.
Pictured here is a 3-D view of Irene as imaged by TRMM on August 24th.
As NASA writes, “this image of Irene passing over the Bahamas “revealed once again the presence of a deep convective tower within the eyewall. The red area indicates rainfall rates of 50mm/hr, while yellow and green areas indicate moderate rainfall between .78 to1.57 inches (20-40 mm) per hour.” (More from SCPR.org)
And for those of you who don't scare easily - check out NASA's Flickr website -- WARNING: Not Safe For Women, Children And Normal People.
Friday, 8/26/11 3:35 PM/ET: What To Do When You Can't Reach Out And Touch Someone?
How to stay connected during Hurricane Irene.
Phone service often cuts out when it's needed the most — when disaster strikes.
That applies to cellphones too, even though they seem independent of power and phone lines.
For tips for communicating with emergency services and loved ones as Irene sweeps up the East Coast, click here.
Friday, 8/26/11 3:10 PM/ET: What Does A Girl Have To Do To Get A Drink In This Town?
From the StarNews.com: Irene Winds at 100 mph; Town Bans Alcohol Sales
Caswell Beach, NC has instituted an 8 p.m. curfew, which includes a ban on alcohol sales. The curfew will last until 8 a.m. Saturday, and police officers have been given authority to enforce it “as necessary,” the announcement states.
Friday, 8/26/11 3:01 PM/ET: Irene, Eh, I've Seen Worse
The coming of Hurricane Irene may be a threat to the average person but to the airlines it's a nonevent, Dahlman Rose airline analyst Helane Becker told CNBC Friday.
"It's nothing worse than a snowstorm that might hit the East Coast" in terms of the disruption of flight schedules and vacation plans by the approaching hurricane, she said.
With the Category 2 storm nearing landfall as soon as Saturday, "people in the middle of their trips may push forward to return home early or push back to return home a few days late, and if you are starting a trip maybe rescheduling it altogether," Becker said, lessening the financial impact to the airlines.
"By and large the airlines let you change your flights" although there "aren’t too many refunds," she said.
You can read what she has to say about any potential financial damage to the airlines, here.
Friday, 8/26/11 2:55 PM/ET: Comfort Food And Your Investments: How to Trade Irene
An Investor's Perspective on Hurricane Irene(hey, we are CNBC)
As Irene barrelled toward the Eastern Seaboard, the "Fast Money" traders looked at the storm from an investor standpoint.
People are stocking up on supplies right now, trader Patty Edwards noted. She said investors should look at the kinds of things people are buying, such bottled water. Both Pepsico and Coca-Cola have water brands. Canned meat is another hot item right now, she noted, adding investors should look at Hormel Foods because of its popular SPAM line. Comfort food is another area to check out, as Hershey's stock is up on the day.
Friday, 8/26/11 2:51 PM/ET: How To Play The Irene Retail Trade
While some of my favorite New Yorkers tell me they are heading to the cheese and wine shop to prepare rather than to Home Depot , most consumers are taking Irene seriously.
First, the good news.
From an investment perspective, there are the obvious places. Consumers are flocking to Home Depot and Lowe’s stockpiling batteries, flashlights, generators and plywood.
The Lowe’s website has a preparation and clean-up guide, as the company does not want you to forget anything at the register. The company also has a video guide available in English and Spanish.(You can read more here)
Friday, 8/26/11 2:47 PM/ET: Earthquake, Irene—What Are The Chances...
Feeling a tad stressed out?
Well it's no wonder - An earthquake AND a hurricane all in one week.
How likely is it that on the East Coast of the U.S., in the same week, an earthquake is felt and a hurricane makes landfall?
Statistically speaking, this should occur only once every 128 years.
Oh yeah...we got it all here - By The Numbers - read it, you'll feel so much better, promise.
Friday, 8/26/11 2:41 PM/ET: What's In Your Go Bag?
Mayor Michael R. Bloomberg has encouraged New Yorkers to prepare a “go bag” as Hurricane Irene churns toward the city.
To make it easier to evacuate, if necessary, the mayor said New Yorkers should pack a few essentials.
Click here to read what should be in your "Go Bag."(C'mon all the cool kids are doing it.)
Friday, 8/26/11 2:31 PM/ET: NYMEX - Open For Business
From CNBC's Sharon Epperson:
Regular floor trading is expected to go on ...however the CME Group will be monitoring the storm because as of now NYMEX at 1 North End Ave, 10282, is in a mandatory evacuation zone.
CME Group Statement: “We have contingency plans in place to ensure the proper functioning of our markets. We will continue to monitor the situation and will notify customers, market participants and our employees as appropriate.”
Friday, 8/26/11 2:30 PM/ET: Vacation's Over - For Everyone
This just in from the White House:
"The First Family will join the President this evening when he departs Martha's Vineyard to return to the White House."
Earlier it was reported that the President was to leave alone tonight leaving Michelle and the girls up on MV until tomorrow.
Obviously, they've had a change of heart.
Friday, 8/26/11 2:22 PM/ET: AC Casinos To Go Quiet
From NJ Governor's Office:
"Governor Chris Christie's today announced that, in coordination with the Governor's Office, the Division of Gaming Enforcement (DGE) and Casino Association of New Jersey, all gaming activity in Atlantic City will be suspended as of noon Saturday. Security, surveillance and maintenance operations and personnel have been ramped up and coordinated to ensure that the necessary resources to protect and secure the casino properties and assets are substantial and in place.
Guests of the Atlantic City casino properties who find themselves stranded due to travel logistics problems will be permitted to stay in the hotels. Meanwhile, evacuation of all others able to leave will proceed via local evacuation plans.
To ease the traffic flow into southern New Jersey and specifically traffic into Atlantic City, southbound lanes of the Garden State Parkway will be closed at Wall Township (Exit 98) beginning today at 8:00 p.m. Ahead of that, all eastbound traffic into Atlantic City will be diverted beginning at 6:00 p.m.
Casino executives, officials of the DGE, state and local Office of Emergency Management officials, and the New Jersey State Police Atlantic City district commander will be meeting again this afternoon to further coordinate storm-related issues ahead of Hurricane Irene.
For further information about safety precautions, evacuation routes and best practices please go to ready.nj.gov "
Friday, 8/26/11 2:16 PM/ET: Latest: Tropical storm-force winds arriving in Carolinas as Hurricane Irene approaches
The National Hurricane Center just issued this update on the storm: Hurricane Irene weakens slightly with maximum winds of 100 mph; little strengthening expected
Friday, 8/26/11 2:06 PM/ET: Irene - Bank On It
From the NY Times: As Irene Approaches, Banks Prepare for the Worst
As Hurricane Irene travels up the East Coast, New York is steeling itself for disaster. Governor Andrew Cuomo declared a state of emergency for the state on Thursday, and Mayor Michael Bloomberg has urged city residents of low-lying areas to prepare to evacuate their homes.
Wall Street, too, is entering the bunker.
Many of New York’s largest investment banks are headquartered in midtown Manhattan, and thus fall outside the city’s designated flood zones. Bank of America’s 1 Bryant Park skyscraper, Citigroup’s 399 Park Avenue building, Morgan Stanley’s 1585 Broadway bureau, and JPMorgan Chase’s 270 Park Avenue offices are all outside the zones. Credit Suisse’s tower, located a little further south at 11 Madison Avenue, also carries a “no zone” designation.
Friday 8/26/11 1:58 PM/ET: New York Steps Up Storm Plans
NYC's Mayor Bloomberg holding a news conference right now
First headline: Evacuees Should Leave Today
Bloomberg ordered mandatory evacuations for residents in low-lying coastal areas ahead of Hurricane Irene.
The low-lying areas are scattered across the city and are home to about 270,000 residents. They include parts of Battery Park City, Coney Island and the Rockaways.
More From Bloomberg's News Conference:
- No Guarantee Transit System Will Be Back In Full On Monday
- Emergency shelters will be opened at 4 p.m.
- Mayor Orders Mandatory Evacuation Of Low-Lying Areas
Friday 8/26/11 1:55 PM/ET: US Nuclear Plants Take Precaution In Anticpation Of Irene's Arrival (Just sayin')
Nuclear power plants along the U.S. East Coast are bracing for the impact of Hurricane Irene which is barreling toward North Carolina according to Reuters.
Plant employees are securing equipment and readying extra staff for the weekend.
Dominion Resources Inc, after shutting down its North Anna nuclear power station because of an earthquake on Tuesday, is taking precautions at its other plants ahead of the storm. "We're going through the steps that we go through in anticipation of a major storm, making sure everything is secure, that no loose material or construction material is hanging around and checking staff," said Dan Genest, a spokesman in Richmond, Virginia.
You can read more here.
Friday 8/26/11 1:50 PM/ET: Irene - In Pictures
So far in 2011, the storm of the hurricane season is Irene, a Category 2 storm expected to affect the eastern U.S. between August 26 and August 29.
The storm has already passed through the Carribean, causing widespread damage, while the eastern U.S. prepares for landfall. The entire eastern seaboard is expecting high winds and flooding as a result of the storm, although the extent of the resulting damage is anyone's guess.
CNBC.com will be updating this slideshow with fresh images of the storm as they come in, illustrating the events of Hurricane Irene as it happens.
Friday 8/26/11 1:40 PM/ET: The Not-So Friendly Skies
U.S. airlines have cut at least 1,000 flights and are moving airplanes out of the anticipated path of Hurricane Irene, while airports are taking steps to minimize damage from the storm.
AMR Corp's American Airlines is "battening the hatches at our airport operations," said spokesman Ed Martelle.
"We are laying in supplies, things like tarps to throw over computers and electronics should we shut down the terminals, and plywood so that if there is any glass damage we can move quickly to secure those areas," he said.
The airline has terminals in New York and other cities that the hurricane may hit. American has canceled more than 130 flights on Thursday and Friday as the storm moves north, and that number could increase, Martelle said.
It is shutting down its Washington operations for 24 hours starting noon on Saturday and will probably make a decision about New York area airports later on Friday.
The U.S. Federal Aviation Administration, which oversees air traffic control operations, has made no decision to close any airport towers.
There were few delayed flights on Friday in the mid-Atlantic and the Northeast, where U.S. air traffic is heaviest.
JetBlue Airways was the first airline to cancel a significant number of flights, nearly 900.
The airline, which is based out of New York's JFK Airport, is canceling all flights scheduled for Sunday into Monday while adding extra sections on Saturday night and Monday night, said spokeswoman Allison Steinberg.
In the Northeast, JetBlue is moving about 50 aircraft out of New York and Boston area airports to cities outside the expected path of the hurricane.
"We anticipate ... that we'll be able to recover more quickly with those aircraft and crews repositioned," Steinberg said. (JetBlue to Waive Change Fees and Fare Differences to Assist Customers Affected by Hurricane Irene Customers - Get the Details Here)Other airlines are canceling flights in the Carolinas and in Virginia.
Several carriers, including Delta Air Lines said they were holding meetings and would announce more detailed plans during the afternoon.
Friday 8/26/11 1:32 PM/ET: Get Out While the Getting's Good
New York and New Jersey have announced plans to shut down public transportation ahead of Hurricane Irene.
New York Governor Andrew Cuomo said New York City's mass transit system, which serves 8 million riders a day, will be shut down at about noon on Saturday.
Across the river in New Jersey, Gov. Chris Christie said New Jersey Transit trains will stop running at about the same time.
Friday 8/26/11 12:55 PM/ET: This Just In....
President Obama will leave Martha's Vineyard tonight instead of tomorrow — this is earlier than planned and it is because of the hurricane, his spokesman says.
MORE from NBC News:
White House spokesman says the President made the decision to leave Martha's Vineyard early "in the last few minutes" and informed his team.
According to Josh Earnest in the off-camera gaggle:
"The President simply reached the conclusion it would be more prudent for him to be in Washignton DC at the White House tonight."
Obama's wife and daughters will travel back to DC as planned on Saturday.
Friday 8/26/11 12:50 PM/ET: Irene And The Insurers (No, It's Not A Band)
As the east coast braces for Irene, some analysts say it could cost insurers billions of dollars.
There are some who are saying it could be a $10 billion storm - that's right folks - TEN BILLION DOLLARS.
Check out the interview in this video tape.
It follows an update from CNBC's Bob Pisani who gives the latest update from the NYSE floor on how its still planning to be open for business on Monday.
Friday 8/26/11 12:42 PM/ET: Irene And Your Investments
Sooooooooooooo....what are you doing?
Making any trades because of - or in spite of Irene?
Take our poll- you'll be glad you did.
No registration required, you don't have to tell your mom, and oh yes, it's totally unscientific.
Friday 8/26/11 12:35 PM/ET: Update From The Weather Channel:
Hurricane Irene's Assault on the US begins - Rain bands from Irene are beginning to hit North Carolina. Click here for the latest images.
Friday 8/26/11 12:30 PM/ET: What's Happening At The Stores
CNBC's Darren Rovell is reporting from a north New Jersey WalMart and says it does seem people in the area are taking the storm warnings a little bit more seriously. Perhaps, he suggests it was this week's earthquake that gave everyone a little nudge to be prepared.
But at the Walmart where he is, the ready to eat stuff like beef jerky is flying, trail mix all this type of goodies and basics are flying off the shelves. He did get the last flashlight - but says there are a lot of things gone...including batteries.
Friday 8/26/11 12:22 PM/ET: All Creatures Great and Small
And you thought your storm preps were hard...
This just in from From Jim Breheny, WCS Senior Vice President of Living Institutions and Director of the Bronx Zoo:
"The Wildlife Conservation Society has been preparing this week for Hurricane Irene. WCS operates the Bronx Zoo, Central Park Zoo, Prospect Park Zoo, Queens Zoo, and the New York Aquarium. We are working to secure all of our parks and are taking appropriate steps to ensure the safety of our animals, staff and guests. Our inventories are fully stocked, and we have sufficient supplies to last through the anticipated storm. We will update the media and the public about potential closures of the zoos and aquarium."
Friday 8/26/11 12:15 East Coast Oil Companies Make Plans For Irene
From Hess :
Hess Corp said on Friday it was preparing for bad weather at its 70,000 barrel-per-day (bpd) refinery in Port Reading, New Jersey, as Hurricane Irene approached the U.S. East Coast. Hess also said it intended to operate the refinery and terminal network through the storm, but would adjust as needed. The refinery and terminals were operating normally on Friday, the company said.
From Kinder Morgan
Kinder Morgan said on Friday it will shut docks at its petroleum terminals on Staten Island and Cateret, New Jersey on Friday night as Hurricane Irene approaches the U.S. East Coast. Truck racks at the terminals will be shut some time on Saturday, company spokesman Joe Hollier said.
Friday 8/26/11 12:07 Home Depot, Walmart, Grocers Get Boost from Irene
(From Reuters) Hurricane Irene sent east coast shoppers into stores to stock up on essentials this week, instead of the clothes, notebooks and other supplies that retailers were counting on selling as parents prepare to send their children back to school.
Chains such as Home Depot Inc and Wal-Mart Stores Inc were doing brisk business on Friday, selling water, flashlights, batteries and other goods in states standing in Irene's potential track from the Carolinas to Massachusetts.
"We're selling things like generators almost as soon as they arrive at the stores in the watch areas," said Home Depot spokesman Stephen Holmes.
But - Irene could could hurt retailers like Saks Inc and Tiffany & Co if airports stay closed for too long or people cancel their trips, said Morningstar analyst Paul Swinand. The hurricane hitting on a weekend worsens its impact, he added.
You can read more on how Irene may affect Lowe's, Rubbermaid, Costco and Target here.Friday 8/26/11 11:56: I'll Have What They're Having
From CNBC: According to the U.S. Coast Guard, they have entered port condition “whiskey” – which is the lowest of the warning levels once the U.S. coast guard activates a hurricane and severe weather plan. “The port (for shipping traffic) is not scheduled to be closed at this time. It will remain open until further notice.” --U.S. Coast Guard
Friday 8/26/11 11:50: Info Overload: NYC.gov Crashes
A high volume of users in the run up to Hurricane Irene has crashed the New York City government's website.
Mayor Michael Bloomberg has urged city residents to use the site to determine if they live in a flood-zone area that might be evacuated.
Residents can also call the city's 311 information line.
Emergency officials say the city is working to get the nyc.gov site back online.
Friday 8/26/11 11:50 AM/ET: Back to the Jersey Shore
Governor Chris Christie announced additional measures being taken to prepare for Hurricane Irene and aid New Jerseyans in shore evacuations.
From the Governor's Office:
"Beginning at 6:00 p.m. this evening, contraflow will be in effect on Route 72, running for 28 miles to Route 70, closing all lanes to eastbound travel and utilizing all lanes of traffic for use in moving traffic westward.
The measure is the latest action to aid residents in evacuating Long Beach Island in Ocean County.
In addition, Motor Vehicle Commission (MVC) offices in Atlantic, Cumberland, Monmouth, Ocean and Salem counties will close beginning at 4:00 p.m. today until further notice. To aid New Jerseyans whose licenses will expire at the end of the month, the MVC will also provide an extension until September 10th for renewals on expired drivers licenses, identification cards, vehicle registrations and inspections effective September 1. Authorization was previously provided for MVC office closures in Cape May county."
Friday 8/26/11 11:41 AM/ET: The Show Must Go On....At Least For Now.
(From the AP) The threat of Hurricane Irene hasn't halted any Broadway shows -- so far.
The Broadway League, the national trade association, said early Friday that all Broadway shows this coming weekend are playing as scheduled. The Off-Broadway League also said early Friday it was unaware of any show cancellations.
Irene is expected to hit North Carolina's coast sometime Saturday and trudge up the East Coast. The National Weather Service has issued a hurricane watch for New York City, and the storm is expected to come closest to the city sometime Sunday.
Weekends on Broadway are its busiest times, with most shows offering two performances on Saturday and two more on Sunday. Potential theater closures may be triggered if officials shut down the city's entire transit system, which is expected.
Friday 8/26/11 11:31 AM/ET: This Just In From Martha's Vineyard - The President on Hurricane Irene
President Barack Obama says people in Hurricane Irene's path should be prepared for the worst and take precautions now.
Says the president; "Don't wait, don't delay." He says all indications point to Irene being a historic hurricane and he can't stress enough the need to prepare.
The president also urges residents to evacuate if told to do so.
The president spoke Friday morning from the vacation home he is renting on Martha's Vineyard, Mass. As he spoke, rains from Irene's outer bands began hitting the Carolinas, along with 6- to 9-foot waves.
On Martha's Vineyard, though, skies were sunny.
Obama was already planning to leave Martha's Vineyard Saturday and that's not expected to change.
Friday 8/26/11:20 AM/ET: How Does Irene Affect Duke's Bottom Line?
Duke Energy's CEO James Rogers was on CNBC this morning to talk about how he gets his team ready for the storm - and the surprising affect to the Company's bottom line.
CNBC's Tyler Matisen asked, "Does a storm like this potentially impact your profitability, and if so, by how much? Can you translate it into pennies per share?"
Rogers said, "I can. I mean I can do it in a grander way by simply saying we normally plan to spend 30 million a year for the cost of restoring service, and just to give you a sense of how many storms that we've had this year, we've already spent $70 million. significantly above what we planned for and this.
- East Coast Energy Sites Brace for Hurricane Irene
Friday 8/26/11 11:14 AM/ET: Riders on the Storm
NBC's Peter Alexander took to the skies flying for more than 11 hours with the Air Force pilots who flew into Hurricane Irene to get the very latest information and a view that most of us will never see. You can watch his report here.
Friday 8/26/11 11:08 AM/ET: Why Is Irene So Different?
From the Weather Channel:
Hurricane Irene is set to become one of the more destructive hurricanes to hit the East Coast in at least several decades. The latest computer model guidance confirms this extraordinary threat and the first hurricane warnings and hurricane watches have been issued for the East Coast.
It all starts with Hurricane Irene's incredible wind field. As of Thursday evening, tropical storm-force winds were up to 430 miles wide. This is the distance from Baltimore to Portland, Maine. (You can read more here)
Friday 8/26/11 11:00 AM/ET: Latest on Irene from the National Hurricane Center
MIAMI (Associated Press) — Hurricane Irene is a little weaker but still a Category 2 storm with top sustained winds of 105 miles per hour (165 kph) on its way to the U.S. East Coast.
The National Hurricane Center in Miami said little change in strength was expected before Irene reaches the North Carolina coast Saturday.
A hurricane warning was extended into Chesapeake Bay as far as Drum Point. Existing warnings remain from North Carolina to New Jersey.
Want to read more—Check out the National Hurricane Center's website - maps, videos and Q&A's
Friday 8/26/11 11:00 AM/ET: Irene Has Everyone Talking
Wanna see what everyone is saying about Irene on their tweets - click here, c'mon, you know you want to.
Friday 8/26/11 10:55 AM/ET: This Just In From The White House
"The President convened a conference call and was briefed once again this morning by DHS Secretary Janet Napolitano, FEMA Administrator Craig Fugate, White House Chief of Staff Bill Daley and other senior White House officials about preparations being made for Hurricane Irene. A photo of the President leading that call is available on the White House Flickr photostream."
Friday 8/26/11 10:53 AM/ET: No One's Waiting to See Snookie!
The latest from the "Shore" from the wires:
Traffic moved smoothly away from New Jersey's coastal areas Friday as the state braced for Hurricane Irene to bring dangerously heavy rains and strong winds over the weekend.
Officials said they were not seeing huge delays on roads, even as mandatory evacuations were under way affecting nearly 1 million residents and visitors in Cape May County, coastal Atlantic County and Long Beach Island.
Voluntary evacuations were affecting the entire shore and even Atlantic City's casinos were preparing to shut down.
It wasn't a sure thing that the calm would last. "A lot of people -- I don't want to say are procrastinating -- they're waiting," said state police Capt. Frank Davis.
Davis was expecting more serious tie-ups Saturday as more people hit the road in what promised to be the state's biggest ever weather-related exodus.
The National Hurricane Center said Friday morning that Irene was likely to pass over -- or more likely, near -- New Jersey by midday Sunday. Rains and winds were expected to start ramping up on Saturday.
The National Hurricane Center was predicting the storm surge will raise water levels by as much as 3 to 6 feet above ground level along the Jersey shore. This would be accompanied by large waves.
Irene was expected to dump 6 to 10 inches of rain in New Jersey, with isolated amounts of up to 15 inches, forecasters said.
If it makes landfall in the state, it would be just the third hurricane to do so in the last 200 years.
The frantic preparations brought confusion in some areas.
Officials in Cape May and Atlantic County announced mandatory evacuations on Thursday, but they did not update their websites immediately with that information. The state police, which was coordinating carefully with the state Office of Emergency Management, did not have full information about local evacuations.
Atlantic County officials said that all coastal areas in the county were to be evacuated, but they could not say whether that would affect Atlantic City's 11 casinos, all of which are on the coast.
By Thursday evening, at least one casino -- Bally's Atlantic City -- was telling people they could not check into the hotel. By Friday morning, it appeared all the casinos would shut down later in the day, but it wasn't clear exactly when.
It would be just the third time since gambling was legalized in Atlantic City 33 years ago that the 24/7 businesses would all shut their doors.
Pearson Callender was waiting in vain for a Greyhound bus before 5 a.m. Friday at the Atlantic City bus terminal. He did not want to wait until later in the day, when one might be available, so he had to shell out extra money for an NJ Transit bus ride back home to New York City.
"I like gambling, but you don't play with this," he said. "People are saying this is an act of God. I just need to get home to be with my family."
Friday 8/26/11 10:46 AM/ET: What's Happening: Nags Head
From The Fayatteville Observer: Hurricane Irene's effects begin being felt in North Carolina
NAGS HEAD - Hurricane Irene's main thrust was still a day away from North Carolina but heightened waves began hitting the state's Outer Banks early Friday as the storm continued trudging toward the East Coast.
Swells from Irene and 6- to 9-foot waves were showing up and winds were expected to begin picking up later in the day, said Hal Austin, a meteorologist with the National Weather Service.
Meanwhile, the hurricane warning area was expanded and now covered a large chunk of the East Coast from North Carolina to Sandy Hook, N.J., which is south of New York City. A hurricane watch extended even farther north and included Long Island, Martha's Vineyard and Nantucket, Mass.
For hundreds of miles, as many as 65 million people along the densely populated East Coast warily waited Friday for a dangerous hurricane that has the potential to inflict billions of dollars in damages anywhere within that urban sprawl that arcs from Washington and Baltimore through Philadelphia, New York, Boston and beyond. (You can read more here)
Friday 8/26/11 10:40 AM/ET: Home Depot - How They Gear Up For Your Needs
You need batteries, generators, boards, tape, etc — How does Home Depot prepare for you - Their guy on the front line has the details - and some tips for you.
You can watch it here.
Friday 8/26/11 10:36 AM/ET: Irene's Going to Be Expensive
NYTimes reports: A New York Hurricane Could Be a Multibillion-Dollar Catastrophe
Time to think about the unthinkable. What if a major hurricane were to pass close to New York City, as several forecasting models now suggest that Hurricane Irene might?
Apart from the inevitable loss of life in the most densely populated part of the country, history suggests that the economic damage could run into the tens of billions of dollars, depending on the severity of the storm and how close it comes to the city. Unlikely but theoretically plausible scenarios could have the damage entering the realm of the costliest natural disasters of all time, and perhaps being large enough to have a materially negative effect on the nation’s gross domestic product.
Tropical cyclones in and around New York City and the Northeastern United States are fairly rare but not unprecedented. Using a relatively conservative set of criteria, I have identified 20 storms since 1900 that have made landfall north of the Mason-Dixon line with tropical-storm force winds (at least 39 miles per hour) or higher, 12 of which made direct hits on either Long Island or New Jersey. (You can read more and see their charts here)
Friday 8/26/11 10:22 AM/ET: The City Never Sleeps — But It Will Stop for Irene.
WNBC News reporting: NYC orders all construction work halted this weekend.
Meanwhile AP reports:
Work continues at the World Trade Center construction site, but storm preparations also are under way there.
The Port Authority of New York and New Jersey said Friday it is securing all cranes and other construction equipment at the site.
It also is securing debris and smaller objects that could be blown off the building at 1 World Trade Center.
Sandbags were being installed in areas that could be subject to flooding.
Friday 8/26/11 10:15 AM/ET: Will Irene Shutdown the NYSE?
Even though parts of lower Manhattan may be evacuated, the NYSE is prepared for the impact and planning to open as normal on monday morning. With more on the contingency plans, CNBC's Bob Pisani has all the details... and you can watch him here.
Friday 8/26/11 10:08 AM/ET: NYC's Bloomberg's Warning: Coastal residents should move out Friday
New Yorkers living in low-lying areas should think about moving out on Friday before Hurricane Irene hits the city of 8.4 million people, Mayor Michael Bloomberg said on Thursday.
The mass transit system might have to be shut down on Saturday, making it difficult for residents to leave if they wait, Bloomberg said at a televised news conference.
Hurricane Irene, raging up from the Caribbean toward the U.S. east coast, is expected to hit New York on Sunday with winds of up to 95 miles an hour.
Public transport in New York, home to Wall Street, Broadway theaters and thousands of businesses, might have to be shut through Monday.
Bloomberg made it clear people in coastal areas such as Battery Park City on Manhattan's southern tip, Coney Island and the Rockaways should not linger until he issues an evacuation order because that could endanger emergency workers. (You can read more here)
Friday 8/26/11 10:06 AM/ET: Utilities Bracing for Widespread Power Outages
Hurricane Irene's strong winds and heavy rains threaten to deliver long-lasting power outages to millions of customers along the East Coast, utility officials and weather forecasters say.
An unusually large number of people may be affected by Irene because it is forecast to stay just offshore — and thus retain much of its power — as it inches up the coast from North Carolina to New England. When a hurricane hits land, it quickly loses steam.
High winds are the biggest threat to utility wires and poles. Recent heavy rains in the region have made trees even more vulnerable to toppling over. Flooding can cause problems for power plants, which are often located near rivers or other bodies of water.(Read more here)
Friday 8/26/11 10:00 AM/ET: Hurrican Warnings: North Carolina to New Jersey
File this one under: Don't Mess Around.
From Weather.com: Dire warnings are being issue in advance of Hurricane Irene. It will affect North Carolina tonight before moving to the Northeast with EXTRAORDINARY impacts expected.
They go on to say:
We've added an "EXTREME" threat level category from eastern North Carolina to southern New England. According to Hurricane Expert, Dr. Rick Knabb and Sr. Meteorologist, Stu Ostro, "this is a particularly threatening situation and it's best for people to be on alert."
- Computer models are currently trending toward a forecast solution of rare potency for portions of the Northeast.
- Irene will be a serious and multi-hazard threat for the major metropolitan areas of the Mid-Atlantic and Northeast. This includes Norfolk, Washington, D.C., Baltimore, Philadelphia, New York City, Hartford, and Boston. This hurricane has the potential to produce flooding rains, high winds, downed trees (on houses, cars, power lines) and widespread power outages. Significant impacts along the immediate coast include high waves, surge and beach erosion.
- For North Carolina, the main impacts of damaging winds and storm surge flooding will be confined to the far eastern portions of the state. In addition to the Outer Banks, this potentially includes Morehead City and Atlantic Beach.
- Timing: Irene will make its closest approach to North Carolina late Friday night through Saturday. Northeast U.S. impacts would be Saturday night through early Monday.
- We remain a couple of days away from Irene's direct impacts along the US East Coast and critical uncertainties related to Irene's exact track and intensity remain. Stay tuned to The Weather Channel and right here on weather.com for further updates.
Friday 8/26/11 9:52 AM/ET: For Your Schedule: Latest from the White House
NBC News tells us that at 1:30AM EDT the President will deliver a statement on Hurricane Irene. We'll be monitoring that and keep you posted right here.
Friday 8/26/11 9:51 AM/ET: Planning on Flying - Read This
From NBC News:
In anticipation of Hurricane Irene hitting the US East Coast, most airlines now have travel waivers in place for passengers to make fee-free changes (or refunds in many cases) if they're traveling to/from/through the Northeast.
JetBlue is the first carrier to begin canceling a significant amount of flights. The New York-based carrier cancelled most flights to/from JFK and Boston on Saturday evening and Sunday — 434 cancellations in all.
Other airlines are holding off except most are canceling flights on Saturday evening to/from the Carolinas and Southern Virginia including Norfolk, Charlotte, Williamsburg, Myrtle Beach, Wilmington, etc. We expect most airlines to begin canceling large numbers of flights today and tomorrow morning and we will keep you updated.
Please expect further notices from FlightAware.comas we have more information and Hurricane Irene gets closer to the US. Also, be sure to bookmark two useful pages - our FlightAware.com live flight cancellations page and also our airport delays page.
Friday, 8/26/11 9:40 AM/ET: Irene to Hit Cities, Resorts on US East Coast
North Carolina braced on Friday for a direct hit from Hurricane Irene, cities along the U.S. east coast were on alert and millions of beach goers cut short vacations to escape the powerful storm.
With more than 50 million people potentially in Irene's path, residents stocked up on food and water and worked to secure homes, vehicles and boats.
States, cities, ports, oil refineries and nuclear plants scrambled to activate emergency plans. Read more here.
Friday, 8/26/11 9:40 AM/ET: Disaster Preparation: There’s An App For That
Since the March earthquake and tsunami hit that Japan, there’s been no shortage of new apps designed to help users prepare for, deal with and even recover from a disaster.
But are these apps offering quality and potentially helpful information, or just playing on fears?
“There is a thin line between what is fear mongering and what is providing transparent information for people who have their feet on the ground,” says Charles Golvin, Principal Analyst at Forrester Research.
“The extent to what may be fear mongering is holding up a mirror to the individual for their response.”
There is no definitive number of how many apps are currently available, with new ones popping up every time something bad happens.
But many of these apps are free or available for a low cost, and include the Emergency Radio App for the Apple iPhone, which costs about $1, and delivers thousands of live radio feeds, including National Oceanic and Atmospheric Administration weather; to the free iPhone American Red Cross: Shelter Views. Read more here.