• Local Businesses Reopen After Hurricane Sandy Destruction

    In the wake of Hurricane Sandy, families and local shops are trying to resume business as usual. But with no power or transportation, that's a task more easily considered than done.

    Economists have been estimating that Sandy could cost the U.S. economy as much as $20 billion in damages and possibly another $30 billion in lost business. Moody's estimates a loss of $30 billion to $50 billion.

    More than 14,000 flights have been canceled since Sandy, hurting airlines such as JetBlue (JBLU), Delta (DAL) and United (UAL). Some are estimating that insurers will have to take losses, since there were 284,000 homes -- or $88 billion -- in the way of Sandy. Large power refineries were shut down because of the storm, which could make gas scarce in the coming months. The auto industry could also struggle as a result of Sandy; GM (GM) and Ford (F) estimated that they will lose sales in the Northeast.

    The area of the U.S. hit by Hurricane Sandy creates $10 billion in GDP a day. The Daily Ticker went

    Read More »from Local Businesses Reopen After Hurricane Sandy Destruction
  • How Superstorm Sandy Could Impact the Election

    Concerns are growing that Superstorm Sandy could disrupt the presidential election, which is a major focus of not only the general public but also business and financial markets in the U.S. and across the globe. The victor of this election will have an impact on tax and health care policy, the dreaded fiscal cliff and all issues that affect the broad economy.

    It's too soon to say exactly how the storm will impact the election, but there are polling places throughout the states most affected -- such as New Jersey and New York -- that may not open because of the damage they've sustained. They may be in buildings that are no longer standing or have no electricity or are severely flooded -- or any combination of these.

    It's highly unlikely the national election will actually be postponed because of Sandy. A presidential election has not been postponed since the early 1800s, according to Professor Steven Huefner, a senior fellow of election law at Ohio State University's Moritz College of

    Read More »from How Superstorm Sandy Could Impact the Election
  • Thousands of residents in the Northeast remain without power Wednesday morning, two days after Superstorm Sandy unleashed destructive winds and heavy rainfall on coastal communities and major metropolitan cities. Estimated damages from the storm will likely exceed $20 billion, and IHS Global Insight economist Gregory Daco projects a $25 billion cut in U.S. economic output this quarter as a result of Sandy.

    The New Jersey Shore, one of the hardest hit regions along the East Coast, was largely unrecognizable to residents and vacationers Tuesday morning. Shore homeowners were kayaking on streets to get around and iconic Boardwalk amusements were either completely destroyed or sitting in the middle of the Atlantic Ocean.

    Federal Emergency Management Agency (FEMA) workers have deployed resources to the storm-battered municipalities, offering thousands of ready-to-eat meals, bottles of water, blankets, generators, cots, diapers and other necessities to evacuees. A FEMA spokesperson says

    Read More »from FEMA Applauded for Sandy Response; Agency Funding Could See Cuts in 2013
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    An entrepreneur by the name of George Lucas just cashed out of the company he founded and built: Lucasfilm.

    Unlike many entrepreneurs who build companies these days, George Lucas didn't raise any VC money.

    And that means he gets to keep the whole check Disney wrote for his company, which was for a not-inconsequential $4 billion.

    How did George Lucas build a company worth $4 billion without any outside investors?

    Here are the key points:

    • He quit an early career when he realized it wasn't right for him (he wanted to be a race-car driver...until he almost got killed in a crash)
    • He made a type of product he loved and cared deeply about (movies)
    • He made--and learned from--lots and lots of different products (There were many Lucas movies before Star Wars)
    • He evolved (Lucas's early movies were artsy non-commercial films)
    • He studied and learned from the best mentors (Francis Ford Coppola, among others)
    • He became friends with other extremely talented people
    Read More »from George Lucas Just Made $4 Billion Without Any VC Money
  • Price Gouging Dings Consumers Amid Hurricane Frenzy

    Millions of Americans set out to buy emergency supplies in the days ahead of Hurricane Sandy.

    Those buying essentials such as gas, food, water, batteries and generators expected to dip into their savings and spend more money than usual — but they did not expect to overpay.

    [Related: Hurricane Sandy: Economic Impact Could Exceed $10 Billion a Day]

    Price gouging is a common occurrence during emergency situations. Retailers know that consumers who need products will be willing to pay more for them and take advantage.

    On October 29, New York Attorney General Eric Schneiderman issued an open letter to vendors reminding them that it is illegal to gouge prices during abnormal disruption of markets.

    "As Attorney General, it is my responsibility to enforce the price gouging law, and while it is my hope that I will not need to do so, my office is certainly prepared," he wrote. "We will review pricing data, and take such complaints filed with office seriously, as we do with any matter."

    New

    Read More »from Price Gouging Dings Consumers Amid Hurricane Frenzy
  • Shiller: Housing Likely Has Bottomed, but Ample Worries Remain

    Yale University economist Robert Shiller believes housing might have seen the lowest point it will for some time, but the health of the job market will be the key factor in the future direction of home prices.

    New home under construction: Credit AP Shiller offered his comments as a housing price measure he helped create, the Standard & Poor's/Case Shiller index, revealed that prices for homes in the U.S. rose 2% in August vs. the same month in 2011. Many economists and housing market watchers have grown more optimistic that the sector is truly turning this year, and the index also showed that home prices were higher in all but one of the 20 markets it uses to gather its reading.

    "This may well be the bottom for housing for some years," Shiller said in an interview, but he's not convinced it's the end of uncertainty. Housing, and the broader economy for that matter, still have to contend with the upcoming presidential election, the looming deadline for avoiding the "fiscal cliff" and continuing questions about the

    Read More »from Shiller: Housing Likely Has Bottomed, but Ample Worries Remain
  • Atlantic City was battered by Hurricane Sandy on Monday, and the full damage to the Jersey Shore gambling capital is still being evaluated. As New Jersey Gov. Chris Christie told reporters at a press conference Tuesday, the "level of devastation at the New Jersey Shore is unthinkable." A New York Times report on Tuesday, however, did note that "much of the city, particularly inland from the shore, appeared to have survived without great damage" and that "the waist-high floodwaters that surged through the streets on Monday had largely receded." The north side of the famed Boardwalk reportedly saw a 50-foot stretch washed away amid Sandy's wrath; much of the serious damage seems to have occurred in the northern section of the city.

    Extensive hurricane damage in Atlantic City

    Hundreds of residents fled inland on Sunday, and gamblers and revelers were forced to evacuate the city's 12 casinos that afternoon after Christie ordered the casinos to close by noon. Caesars Entertainment, owner of Caesars Atlantic City, Harrah's Resort,

    Read More »from Atlantic City Casinos Shuttered Amid Sandy Fallout
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    Thousands of airline flights to and from the east coast of the United States have been grounded as a result of Hurricane Sandy, which threatens to be one of the worst ever to hit the East Coast.

    JetBlue Airways, which has a major hub at Kennedy Airport in Queens, New York, has canceled more than 1,000 flights from Sunday through Wednesday, and United Airlines, with a major hub in Newark, New Jersey, has grounded 3,700 flights, or about 16% of those scheduled, during that same period.

    American Airlines and its commuter line American Eagle have canceled over 1,500 flights from Sunday night until midday Wednesday and says there may be additional delays and cancellations depending on the aftermath of Hurricane Sandy. Customers whose flights were canceled but bought their tickets before October 27 won't be charged extra if they reschedule to travel no later than Nov. 7.

    Delta and all other airlines with flights scheduled to depart or leave airports along

    Read More »from Sandy Grounds Thousands of Flights but Analysts Say Airline Stocks Will Weather the Storm
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    This week is going to be all about Hurricane Sandy and reports are already being written about the best ways to "play" the storm. But this too shall (hopefully) pass and the focus will soon return to the biggest issue facing investors: How to find yield in an ultra-low rate environment?

    Related: Hurricane Sandy: Economic Impact Could Exceed $10 Billion a Day

    For many individual investors, dividend-paying stocks have been the preferred means to find yield in recent years. Since at least mid-summer, however, there's been chatter about whether this theme is "played out", "overdone" or even entered bubble territory. There are also concerns about dividend stocks getting hit by the fiscal cliff; if Congress doesn't act, dividend taxes (among others) will rise in the New Year.

    Related: Fiscal Cliff: "Major Market Meltdown" Expected If Congress Does Nothing, Says Steven Rattner

    The iShares Dow Jones Select Dividend Index (DVY), a commonly used proxy for the

    Read More »from “This Is What You Want to Own”: David Rosenberg Lauds Dividend Stocks
  • Follow The Daily Ticker on Facebook

    Hurricane Sandy moved closer to the New Jersey coastline Monday morning and was expected to pummel shore communities with 85 miles per hour wind, extreme tides and severe flooding later this afternoon.

    The National Hurricane Center has warned nearly half a dozen states including New York, Virginia, Connecticut and Pennsylvania to prepare for what many are calling a "Frankenstorm" — a frightening mix of rain, snow and wind that's part hurricane, part nor'easter.

    More than 60 million Americans are likely to be impacted by Sandy and experts are already forecasting damages in the range of $2 billion to $100 billion.

    Related: Hurricane Sandy: Economic Impact Could Pound Main Street

    Hundreds of schools, offices, shopping malls and restaurants have closed their doors in anticipation of the hurricane. Broadway theaters canceled their shows. Atlantic City casinos sent gamblers home.

    New York City suspended all subway and bus service and New Jersey shut down

    Read More »from Hurricane Sandy: Economic Impact Could Exceed $10 Billion a Day

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