Accounting News/Hurricane Roundup | 10.30.12

Northeast Awakes to Huge Damage in Storm’s Path; Millions Without Power [NYT]
As Hurricane Sandy churned inland as a downgraded storm, residents up and down the battered mid-Atlantic region woke on Tuesday to lingering waters, darkened homes and the daunting task of cleaning up from once-in-a-generation storm surges and their devastating effects. Power remained out for roughly six million people, including a large swath of Manhattan. Early risers stepped out into debris-littered streets that remained mostly deserted as residents awaited dawn to shed light on the extent of the damage. Bridges remained closed, and seven subway tunnels under the East River remained flooded. A wind-tossed construction crane atop one of the tallest buildings in the city still dangled 80 stories over West 57th Street, across the street from Carnegie Hall, after coming loose during the storm. The storm was the most destructive in the 108-year history of New York City’s subway system, said Joseph J. Lhota, the chairman of the Metropolitan Transportation Authority, in an early morning statement. “We are assessing the extent of the damage and beginning the process of recovery,” he said, but did not provide a timetable for restoring transit service to a paralyzed city. Gov. Chris Christie of New Jersey called the damage to his state “incalculable” and said the Jersey Shore had been “devastated.” As he spoke on a series of morning talk shows on Tuesday, rescue teams were rushing to the aid of those stranded in Atlantic City and in areas of Bergen County where he said tidal waters had overwhelmed a protective natural berm.At least 11 deaths — including 7 in the New York region — were tied to the storm, which toppled trees and sparked fires in several areas, state authorities said. Falling limbs became deadly bludgeons in three of the New York deaths and two in Morris County, N.J., where The Associated Press reported a man and a woman were killed when a tree fell on their car Monday evening.

This Is the Explosion That Blacked Out Lower NYC [Bloomberg]
ConEd isn't sure what caused it. Maybe water, or something.

State-by-State Guide to Hurricane Sandy [The Lede/NYT]
Resources and information from West Virginia to DC to Rhode Island.

Manhattan Hospital Transfers Patients After Losing Power [WSJ]
NYU Langone Medical Center, one of the nation's premier hospitals, moved to transfer about 200 patients after its power cut out sometime after 7 p.m. Monday as superstorm Sandy struck the region, a hospital spokeswoman said. The patients, including adults, children and newborns receiving critical care, were being transferred to various area hospitals, according to spokeswomen for NYU Langone and area hospitals. It was unclear exactly what happened at the hospital to prompt the emergency transfers. One spokeswoman said both the normal power and emergency back-up power had gone out, while another said emergency power might have remained but wasn't sufficient to provide care for all patients. Outside the darkened hospital on Manhattan's East Side late Monday night, a line of ambulances stood waiting for patients to be evacuated. Medical personnel congregated in the lobby as one by one patients were slowly brought out in stretchers and were put into ambulances. Emergency personnel used a generator outside to power a bright mobile light that they used to aid evacuations.

Labor Department Says Hurricane May Affect Jobs Report [Bloomberg]
The U.S. Labor Department will wait to gauge the impact of Hurricane Sandy before determining the status of the October jobs report, the last before next week’s presidential election. The monthly employment data are scheduled to be released Nov. 2 at 8:30 a.m. in Washington. The median forecasts of economists surveyed by Bloomberg call for payrolls to rise by 125,000 workers in October and for the jobless rate to increase to 7.9 percent from 7.8 percent. “We will assess the situation when the weather emergency is over and notify the press and public of any changes at that time,” Labor Department spokesman Gary Steinberg said in an e- mailed statement today.

Hurricane Sandy Information [SEC]
FYI: "During this weather emergency, we understand that filers may be unable to submit their filings.  You should file when you are able.  The Divisions will handle requests for filing date adjustments on a case by case basis."

Announcement Regarding Hurricane Sandy [NY Dept. of Taxation and Finance]
Deadlines have been postponed for the period beginning on October 26, 2012, and ending before November 14, 2012 for a number filings. Check here for the list.

Java junkies in ‘Star’ trek [NYP]
“I saw on Facebook that they were open,” said Bethany Owings, 28, who walked 10 blocks from Hell’s Kitchen with daughter Ava Ferrier, 1 1/2, for a fix. Her friend Chris Hernandez, 29, came along. “When she said they were open, I was like, ‘Pack the baby up. Let’s go!’ ” the triple-espresso fan said. “There’s nothing else we would’ve gone out for. This makes the day complete.” They were part of a daylong stream of customers that packed the store, standing shoulder to shoulder and waiting at least 10 minutes to order. Owings and Hernandez said they were the last people served at a 53rd Street Starbucks Monday afternoon, shortly after Starbucks told its operators to send employees home and keep stores closed ahead of Sandy. Starbucks officials asked East Coast stores to close as early as 2 p.m. yesterday, citing safety. “I didn’t know they were all going to close. I started panicking,” Hernandez said with a chuckle.“It was scary not having Starbucks,” said Owings, who orders tea, not coffee.

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