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Irene Blog: Business Impact

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Monday, 8/29/11 5:56 AM/ET: Irene Downgraded Again

It appears that Canada will be spared most of the damage that Irene inflicted on New York and points south.

The National Hurricane Center downgraded Irene to a post-tropical cyclone as it approached the border with Canada. The storm's maximum sustained winds declined to around 50 miles per hour.

Late on Sunday local time, Irene lashed Vermont with heavy rain, forcing evacuations and causing streams to breach their banks. A local emergency spokesman told Reuters that the swollen waterways would probablly be an issue "for the next 24 hours." As many as 50,000 people lost power as the storm roared through their state.

The rest of New England also absorbed damage and encountered power and transportation problems, with 650,000 homes and businesses losing electricity in Massachusetts alone. Overall, however, the damage to New England was less than had been feared.

Sunday, 8/28/11 9:50 PM/ET: Some Damages to Popular Seaside Towns, but Authorities Say 'Not as Bad'

Susan Petrella, lower left, stands near the King Neptune statue as the first wind and rain of Hurricane Irene blow in on August 27, 2011 in Virginia Beach, VA.
Getty Images

Irene damages some beaches along the Atlantic coast and popular seaside towns. Heavy concrete benches on New Jersey's historic boardwalk in Asbury Park were upended, residents say. But the city's governor Chris Christie says damage wasn't "as bad" as expected. Polic reopened the isaland on Sunday afternoon and evacuation orders were lifted.

Atlantic City, which fared well in the storm, will also be ready for the return of tourists, authorities say. 

Sunday, 8/28/11 7:10 PM/ET: NYC Airports & Port Authority to Resume Operations

John F. Kennedy International and Newark Liberty International airports will open to arriving flights at 6 a.m. Monday, Aug. 29, with departures set to resume at noon.  LaGuardia Airport will reopen to both arrivals and departures at 7 a.m. tomorrow.

The Port Authority has coordinated the reopenings with the Federal Aviation Administration, U.S. Transportation Security Administration, U.S. Customs and Border Protection and our airline partners. 

Sunday, 8/28/11 6:21 PM/ET: Downgraded From Hurricane

Large waves from Hurricane Irene pound the Ocean City pier, on August 28, 2011 in Ocean City, Maryland.
Getty Images

The Northeast was spared the urban nightmaresome had worried about -- crippled infrastructure, stranded people and windows blown out of skyscrapers. But there was still plenty to watch out for. In Rhode Island, which has a geography thick with bays, inlets and shoreline, authorities were worried about coastal flooding at evening high tide.

Sunday, 8/28/11 4:35 PM/ET: Obama Will Speak at 5PM ET

A fallen tree which also knocked over a power line is seen on Loughboro Road after Hurricane Irene swept through the area.
Mandel Ngan |AFP | Getty Images

The President will make a statement on the hurricane early this evening.

Sunday, 8/28/11 3:59 PM/ET: Atlantic City Casinos to Reopen Monday

Atlantic City's casinos report little damage from Hurricane Irene, and the 11 gambling halls will reopen Monday at noon after being shuttered for the weekend.

Sunday, 8/28/11 3:59 PM/ET: Cars Floating Free—Flood Video From Vermont

Downtown Brattleboro is completely flooded as the rivers flowing through the town break their banks.

UPDATE: Additional footage of the flooding in Brattleboro.

Sunday, 8/28/11 3:59 PM/ET: NYC Buses, PATH Trains to Resume

Limited MTA bus service will resume at 4:30 PM Sunday afternoon. PATH trains will resume operations at 4 AM Monday morning.

UPDATE:begin in Manhattan