Winter storm Nemo keeps residents in the dark

Winter storm Nemo has left its mark on the Northeast, where millions are digging out and thousands are still left without power today, Sunday, February 10, 2013.

The blizzard began over the weekend and dropped up to three feet of snow in some areas. According to the Weather Channel some of the more extreme examples include Milford, Connecticut, which reported 38 inches of snow and Portland, Maine, which set an all- time record with 31.9 inches. Boston, Massachusetts was prepared for the worst and did get hit with up to two feet of snow in places, but fell short of the city’s record 27.6 inches of snow in 2003.

Power outages are a major concern, but crews are working diligently to restore electricity. At its worst, there were an estimated 650,000 without power. The number has been more than cut in half as of this morning, but there are still more than 300,000 located mostly in Connecticut, Massachusetts, and Rhode Island waiting for the electricity to return.

Winter storm Nemo is the second natural disaster to hit the New England states in the past few months. Many have still not recovered financially or otherwise from the water and damage wrought by Super Storm Sandy and now they have a new set of headaches from the wind and snow of Nemo. When all is said and done, the wind may prove to be the most damaging of all and is already responsible for structural and other damages to thousands of homes.

President Obama has declared a state of emergency for Connecticut, making the state eligible for federal aid. More states may be added to the list as the damages are tallied, but there is no word on an official aid package as of yet. Super Storm Sandy victims received a large federal financial aid package of more than $60 billion, but Winter Storm Nemo may not produce such lofty federal relief dollars. In large part, it is because Sandy was far more damaging overall. To consider just one comparison, the total homes without power following Sandy’s wrath numbered more than 8.6 million, a figure more than 14 times greater than the power failures caused by Nemo.

Expect to hear further updates on financial and other losses over the next few days.

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, Houston Finance Examiner

Bryan Carey is a financial professional with an MBA in Financial Management and more than twenty years experience working in the accounting, finance, and management fields. He has served as a corporate Controller, Financial Analyst, Financial Services Representative, Accounting Manager, and...

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