I thank you, governor, for being with us and helping us get as prepared as possible for what could be recordbraeging tidal surge here in the county. Thank you. I want to join county executive in thanking the governor for really what has been an incredible amount of support from new york state on this storm as the county executive mentioned, this storm has intensified and arriving earlier than we had expected. We have utilized support from new york state in their Incident Management Teams that have been provided. Urban search and rescue teams have been provided. They have been crucial in the planning and preparations and responding to events happening here today. Weve also had state vehicles, humvees and other vehicles responsibilitying from the National Guard, from the state in the town of babylon responding to several working fires during this first surge at high tide earlier today. The flooding went up to montauk highway. Very significant flooding. So we can expect to see that really intensify as the storm makes landfall. And high tide and storms winds meet at the same time, really producing what we have been talking about for the last few days, and that is this incredibly dangerous storm. Earlier today after the intensification of the storm, we were successful on a multiple agency level, including working with new york state assets, rescuing, evacuating additional people off of fire island. We understand now that those who have chosen to ride out the storm and made that decision on fire island, this is a lifethreatening storm. We contacted people again and made additional efforts to evacuate people. We were successful in evacuating an additional 14 people off of fire island today. During that evacuation we lost one police vehicle, marine 3. But thanks to the assets that have been provided by the governor, we were able to aff t affectuate an additional 14 people off fire island. I want to thank the governor for all of hi support and efforts during this difficult storm. Thank you. First, let me begin by thanking county executive ed mangano. His leadership has been exemplary today. Very difficult situations all across nassau county, but especially in areas like long beach and in bayville, communities that have experiencing flooding and severe coastal attacks. And he has done really, really great work. And i applaud him for it and i applaud him for his partnership and cooperation. Likewise county executive steve balone has had a very busy day already and the worst is yet to come. Hes had a situation on fire island that was and is lifethreatening for people. And hes hed i magnificently well. Id also like to extend congratulations to all the First Responders who have been working all through the day, but also have been preparing for days. You know, we knew this was coming. So, you have many, many people who went into today having worked 24 hours. So, theyve and its ugly out there, as you know. Theyve been doing great work. Special thanks to the National Guard, much more deploying as we speak. Another 1,000 National Guard who have been called up. They in so many ways provide the energy, the muscle, if you will, to do many of these operations. They put themselves in harms way. We thanked them very much. This storm is basically as expected thus far. We said it was going to be a lot of wind and rain. Thats what they forecast and thats exactly what weve gotten and more. Sandys fury is still going to come this evening. Originally it was supposed to be about 8 00. That has now been moved up and could be as early as 6 00. Where were well start to feel the full impact of high tide. That gives people a short window. People have not yet evacuated. They should have already, in my opinion, but thats a its a very short window until we really feel the full impact of sandys fury. This is probably the last warning that were going to be able to give people about getting themselves to a safe place before that coastal surge really hits. Of the National Guard, the 1,000 that are going to be deployed today, the majority of those National Guard will be deployed on long island. As the issue becomes more and more the coastal surge, long island becomes more and more vulnerable and the primary area of our operation. Nassau county has put in an urgent request to get more assistance from National Guard to help evacuate people from the long beach area and the bayville area. Were going to have 30 additional humvee teams and 30 additional high axle teams go out as soon as possible this evening to start that mission in concert with nassau county. The winds have been increasing. You can feel it f youve been outside or if youre in your home, im sure you can hear it. Its made a dangerous situation on the bridges in the metropolitan area. Were go to closing a number of bridges. There may be some brief intervals in electric service also, i want you to know. That may very well happen. Dont be alarmed and surprised if it does. The tappen zee bridge is going to close were listening to new York Governor Andrew Cuomo and new york state officials giving afternoon update on Hurricane Sandy. Were approaching a critical time for new york city and the rest of the northeast as massive storm gets set to make landfall in the next two hours. The situation getting dangerous in many parts of the east coast. As you see in manhattan, there is a situation involving a damaged crane. In midtown. We will continue to update you on that and other developing stories over the course of the hour. By the way, we now know that emergency workers on the scene of that crane dangling off a 65story building, that building is being built to a 90story building. Thats why the crane was on top of the building. They have now theyre going as high as they can to inspect the crane. But city Officials Say there are no plans right now to take down the crane and remove the crane because it is simply too dangerous. Governor cuomo will call into the show after that press conference, so well talk to him directly in terms of business on new york. First, lets get to courtney reagan, smehes at the news des were hearing from our partners at wnbc that the department of Building Engineers are going up in the building to inspect. Theyre going as high as they possibly can to inspect that crane but as of right now,there are no plans to remove it. It is simply just too dangerous. Officials are evacuating the area surrounding this building. However, one of our cnbc employees is just one block south and has noted his building has not yet been evacuated. We dont exactly know who has been evacuated. Were getting some mixed messages right there. We know construction sites were told to tie down their equipment by saturday at 5 p. M. We dont know exactly what happened with this crane and how that was missed or if it was missed. Thats something we to want keep paying attention to. This will be the tallest residential building in new york city once the construction is completed. It will be as high as 90 stories. Part of it, the lower part will also be hotel. Its not just complete residential but a hotel operated by park hyatt on lower floors. New york officials are evacuating the area around it. Well continue to bring you the latest. Courtney, thank you. We should point out the new York City Buildings Department suspended the work on this building at 5 p. M. Saturday in anticipation of the storm. Why they would leave that crane occupy the roof, everybody is wondering. We to want get more on this crane collapse in new york city. On the phone with me now is lewis colletti, ceo and president of Building TradesEmployer Association which represents new york City Construction companies and is familiar with the building and crane. Good to have you with us. Thank you for joining us. Thank you. Was this a mistake they left the crane up there . Why would anybody leave a crane on top of a building when we have this unprecedented storm coming our way . No, it wasnt a mistake. Construction companies throughout new york city, including this project, have been working with the City Buildings Department since friday in securing to the best degree that anyone could in preparation for this storm. Review plans are plans are reviewed by licensed engineers. The information that i have is that much of the scaffolding is secure. There are other sites in new york city that have such tower cranes and they are secure. What were fashioning is an unprecedented storm, in the history of the city of new york. But Construction Companies across the city have been working in Due Diligence with all Emergency Personnel to secure all tower cranes in new york city. I guess given the fact that, you know, this is a 90story building going up and were only at 65 stories, so youre in the middle of construction, would it have been too expensive to take the crane down knowing that the winds would pick up with such se a severity . Youre saying they left it there. Didnt anticipate how strong the winds would be no, public and worker safety are the highest degree. Every security potential was reviewed. Knowing what the potential was going to wblg the storm, consulting with weather experts, consulting engineers, city officials and making sure that the tower crane was as secure as possible to protect the interest. Cost does not enter into into those conversations. Cue tell us what you impact on construction and construction workers as a result of today . Not knowing where well be at for the next couple of days, its difficult to predict. Just even hoping for the best, i think what will happen was just scheduling delays, will have a tremendous impact on the economy. Just trying to clean up from whatever debris is left over. But people have been working in very strongly and cooperative since friday in order to protect against this. Were hoping the damage, if any, is very minimal. Very quickly, the emergency workers at the scene say that they have no plans right now to go up and remove the crane, although they are going as high as they can to inspect the crane. Is that the right call as far as where we are right now with the storm about to hit landfall in the next couple of hours . Oh, absolutely. I think any efrlgforts to dismae the crane at this point would provide more of a daveng. Thanks very much for joining us. Thanks, maria. We appreciate that, Louis Coletti at Building Trades association. Our coverage of Hurricane Sandy continues after this break as she whips across the eastern seaboard. Bob pisani will be up. With the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. Such as a 5 yield on dividendpaying stocks. Then you can customize the strategies and narrow down to exactly those stocks you want to follow. Im mark allen of fidelity investments. The expert strategies feature is one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. When you take a closer look. At the best schools in the world. You see they all have something very interesting in common. They have teachers. With a deeper knowledge of their subjects. As a result, their students achieve at a higher level. Lets develop more stars in education. Lets invest in our teachers. So they can inspire our students. Lets solve this. Welcome back. That is a shot of new york city, broadway. The shot right behind me. The rain, of course, is picking up. But the winds are really the story. Brian shactman is on long island where many residents have evacuated. What can you tell us . Maria, you hit that 100 on the head. The water is coming behind me. Were actually at a lower point of our last hour ago. We had to move up to Higher Ground because waves were hitting at every single step. We saw a huge tree getting tossed around like a toothpick. The waters coming. I talked to town supervisor in east hampton and the waters a concern. Its the sustained wind were experiencing that are getting progressively worse. Outage imagine, long island has 175,000 customers that are without power. We just got word from north shore of long island that people are losing power every every few minutes it gets worse and worse. Now, when it comes where we are behind me is atlantic ocean. High tide around 8 p. M. Where im standing now could very well be under water. The north side is where theyre actually a little more concerned on Long Island Sound because if the storm follows this path, they might have the a problem with wind. But their water problems might be far worse. Even though its hard to explain, were lower on the water table, but a lot of properties are up on the hill on the north side its much more flat. As you well know, maria, there are incredible properties in this area worth millions and millions of dollars. And the concern is right now just roof damage and a lot of tree damage and sea fences. Unbelievable. Brian, thank you very much. I guess the issue is, are we going to see the ocean and the bay meeting, because the water levels are rising so much . Of course, u. S. Markets are closed through at least tuesday. We know that for a fact. There is an effort to reopen on wednesday but its really what we see. What is the reality that will happen and what does four days of no trading in the United States mean for investors . Bob pisani is with me along with cnbc contributor of destination Wealth Management and aaron hodges. What do you think the impact will be when trading does resume . Youve got to believe certain people sitting on positions, either wanted to unload those positions or get new ones . What would you expect wednesday if, in fact, trading does resume . Well, you know, its interesting. One would think there would be this pentup demand to trade. But i think given the fact that theres going to be such outages and so much disruption on the east coast, i expect volume to be pretty light. If volume is pretty light and we have companies actually beginning to report their earnings, which many today and tomorrow will be reporting wednesday, thursday, friday, you could actually see not so much from the storm, really just thin volume and see significant volatility based on earnings report. As people just stay out of the way. Bob, are they going to be able to open the New York Stock Exchange and nasdaq on wednesday . What pressures are out there to do that . A lot of pressure. Were at the end of the month. A lot of firms price their portfolios at the end of the month. Essentially their p l. Some funds its the end of the year. They need data points to send out to investors. Thats the pressure theyre under right now. My guess is theres going to be a strong effort to open the nyse, even if its a skeletal staff, even if it has to be just for a few hours to get trading done on wednesday. If youre an investor with these kind of days off for trading, what does it mean for you, eric, as somebody whos going to allocate capital, come up with an investment strategy, what do you do with the markets closed . Well, first off, let me say that at hodges fund our hearts go out to everyone affected by this storm. Right now, any time you have a disruption of this magnitude, its going to create distortions in the market, in stock prices. Theres going to be opportunities presented. I think you really have to look through some of the shortterm variables and really look at longer term opportunities out there. I wouldnt underestimate the fact that for a lot of these funds, this is the end of tax year and a lot of tax loss selling that occurs in the last week of october that is now going to be pent up to when the market resumes trading on wednesday. Exactly. Which is why i said earlier, to michael, would you expect basically people trying to get out of positions, a selloff come wednesday . Is that what you would expect wednesday if the markets are open, we get a sizeable sell off12of off . Eric . I think well see added volatility. Thats going to create some opportunities out there. I think you have to look through nearterm issues. Because a lot of that normal, natural selling that does occur toward the end of october, will probably occur over a shorter time period. We will leave it there. A lot of moving parts well check in after this break. Super storm sandy sending shock waves across corporate earnings calendar. Herb greenberg coming up with that. Keep it right here for sandys storm track, flight cancellations, the impablgt on business and money. [ male announcer ] dont just reject convention. Drown it out. Introducing the allnew 2013 lexus ls f sport. An entirely new pursuit. How did i get here . Dumb luck . Or good decisions . Ones ive made. Ones weve all made. About marriage. Children. Money. About tomorrow. Heres to good decisions. Who matters most to you says the most about you. Massmutual is owned by our policyholders so they matter most to us. Massmutual. Well help you get there. We are looking at a live shot of point pleasant, new jersey, where winds are severe and water is picking up. We are expecting Hurricane Sandy to make landfall within the next two hours. Hurricane sandy forcing several companies to delay earnings report. Herb greenberg here to round up that part of the storm. Its swg. As we speak were continuing to get more and more come out. This is like school closings. Have i more than 50 much them. I will give you a few highlights. Lets go through them right now. Time warner delaying until monday. Cummins until wes. Delphi to thursday cirrus logic to wednesday. Pfizer, thursday. Avon, thursday. Mcgrawhill, friday. Sirus, thursday. Hertz, wednesday. P pitney bowes, thursday. Dendredon wednesday. Penske is delaying. Going to delay earnings calls. You have to keep occupy it and this is giving awe a smattering but these are some of them. Theyre delaying it because of the human story . Their folks are not in . What has led them to cancel release release . I think others are cognizant of the fact shareholders and investors may not have electricity to listen to Conference Call or get information. Eye heard from others others that spend time to go through the numbers so they have an idea of whats going on which is something novel these days. Thanks very much. More of the impact of Hurricane Sandy on the markets. Were now welcoming tom lee from jpmorgan here with me. Thanks for making it out with this horrible weather. Yeah. Markets are closed today and tomorrow. Yep. What have you been hearing from thursday clients . Are they sitting on positions they want to unload . What is the impact here . I havent heard from a lot of people. Weve had a lot of people reschedule. Weve been talking about whether or not we should keep meetings scheduled for wednesday. Its clear from some inquiries, i think people are trying to understand the economic effects. I think comparing this episode to katrina, which is the analog a lot of people are working with, for the most part i would say on balance, theres a lot of shortterm turmoil, a lot of things happening. Its the end of the month. Weve already got a lot of other anxiety out there. And its in the middle of earning season so well have some delays. On the other hand, if we look at markets in 05, there was an initial selloff but markets sort of gained traction, especially as people saw past the shortterm economic effects and saw the lift coming from the spending. No doubt about it, we have end of month positioning, so if youre sitting on positions and you need to get out of those positions for whatever reason, because its the end of the month, you cant do it. The markets are closed. And so im wondering if this is creating a pentup situation where we see a heavy selloff once markets do resume on wednesday. Were hoping for wednesday. We havent seen a twoday closing of markets, i dont think ever. Thats right. I think its possible we could see some selling pressure because theres window dressing and people dont want stocks down for the month, big positions. I think investors f we do see Something Like that, you know, have you to investors have to ask themselves, is this shortterm effect or changing the thesis . I would view that as a pretty good entry point. If theres a name out there, a highquality name, decent visibility and being sold because of some sort of window dressing, i think thats a very good entry point. All right. Well leave it there. Of course, as we should point out, the only other time we had these markets closed was 9 11. Which of course the market was closed on tuesday, september 11, 2001 and did not reopen until the following monday. Good to have you. Thanks for joining us today. We appreciate it. Our special coverage of Hurricane Sandy continues. Well have an update on the hurricanes projected landfall. Ill be talking with dick kovacevich, he says hardhit communities could see a stimulus effect in the wake of sandys destruction. Ill talk to him about the impact of the Financial Services industry and talking to the head of tropicana enter stainment about sandys impact on atlantic city. 3452550 lets talk about lowcost investing. Tdd 18003452550 at schwab, were committed to offering you tdd 18003452550 lowcost Investment Options tdd 18003452550 like our Exchange Traded funds, or etfs tdd 18003452550 which now have the lowest tdd 18003452550 operating expenses tdd 18003452550 in their respective tdd 18003452550 lipper categories. Tdd 18003452550 lower than spdr tdd 18003452550 tdd 18003452550 and even lower than vanguard. Tdd 18003452550 tdd 18003452550 that means with schwab, tdd 18003452550 your portfolio has tdd 18003452550 a better chance to grow. 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Live from 30 Rockefeller Center here at nbc. Hurricane sandy is hitting the northeast hard. The strength is just starting to pick up. Todd gross with the latest on sandys path. Todd, what can you tell us . First of all, it is moving faster. Looks like its going to cross the coastline around 7 00 tonight. The effects will not be over at that time. Let me show you why. First of all, if you look closely to the southeast of atlantic city, right about there, that is where the center is. Thats where you see kind of a hole in the precipitation. Almost like a circular hole right there. And that is moving to the north and west very, very clearly on track. However, its doing so a little faster than was expected. Just a little. That has two effects. One is meaning even more wind because theres a counterclockwise circulation of winds and the Forward Motion will add to the wind on the north side, in other words, the righthand side of motion. Bottom line, additional storm surge right in through long island and down the new jersey shoreline to around atlantic city. That is a big problem. Lets take a look at that storm surge situation. Again, were looking at 3 to 6 feet in general in eastern new england. Look what happens. Because the waters coming from east to west, it kind of backs in through the Long Island Sound, as an example, to 6 to 11 feet. Were looking at 4 to 8 feet down the new jersey shoreline. Then big waves on top of that. Thats all going to be happening this evening, approximately between 7 00 and midnight in terms of the worst. Well object the air live covering that every step of the way for you. Thanks very much, todd, with the latest there. Well be back to you as this storm develops. We want to get more impact on the business and certasectors. Dick kovacevich joins me now from san francisco. Thank you time for us today. Youve seen storms like this at the helm of wells fargo. Whats yours reaction to this storm response weve seen by state and local communities and business . Our hearts go out to all of you on the east coast. We sincerely hope you get through this safely. We all have had storms and weve gone through this before. I think one of the advantages of a storm is that we do get a warning. In this case weve had days of warning. It allows us to prepare for a serious event like this. And perhaps even more importantly, it allows us to be ready to handle the aftereffects of such a devastation. Say compared to an earthquake or terrorism, which you dont get any warning for. So, it does help to us handle this. What about the fact that the markets have been closed, i mean, the markets closed today, closed tomorrow. Two days of trading interrupted. We havent seen this, obviously, since september 11th. And before that, the only time the markets were closed due to weather was 1888. So, what would you expect once trading resumes . Well, i think there will be volatility. I think the greatest risk is, remember, the markets have been questioning our Economic Growth here for the past few weeks. Some feel the markets already overvalued. This adds to that risk and that uncertainty. And my own opinion, however, should the markets fall steeply, i think buyers will come in because this is not going to have a longterm negative impact. In some cases, local businesses actually grow after the national devastation because you have to repair things, fix things, construction workers who are out of work. In many cases its a shortterm economic boom as happened in katrina in louisiana. So, you think at some point there will be a stimulus effect to businesses once sandy moves out of the region. For the Financial Services industry, with business shut down for a couple of days k you estimate a Financial Impact in terms of revenue lost . First of all, all Financial Services companies have robust recovery programs. Disaster recovery programs. Again, because of this warning theyre all in effect. And they may be affected by power supply issues, but they have alternatives in place now. So, i think that that will reduce the impact, unlike what happened on september 11th, where there was no warning. I dont think there will be a longterm negative Financial Impact on the services industry. Well leave it there. We wanted to talk to you about other thing before this storm. We appreciate you keeping date and we hope well see you soon. Thanks much. Thank you. Dick kovacevich, ceo of welsz fargo. Interview with andrew cuomo. Well talk with him. Then super storm sandy forcing the cancellation of thousands of flights across the country. Ill be talking with chief operating officer of jetblue, ask him when things will return to normal. Youre watching special coverage of mega storm sandy. Customer erin swenson bought from us online today. So, im happy. Sales go up. Im happy. It went out today. Im happy. 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We want to get the latest on how new york state is handling the worsening conditions of Hurricane Sandy. Joining me right now on the telephone is new York Governor Andrew Cuomo. Governor, thanks for spending the time for us and calling in. My pleasure, maria. Nice to be with you. So, we watched a bit of your presser earlier. We know the water is rising on the coast. Wall street is in lockdown mode, totally shutdown. What kind of an impact are you expecting f, in fact, we do see heavy flooding on wall street once things get back to normal . Well, this is its a different kind of experience for the state, as you know. This is basically, as you describe, a coastal phenomenon. So, lower manhattan, long island, south shore, north shore. But depending on how bad the surge is, which well know better in a few hours here. They moved up the time for the surge from 8 00 to about 7 00. But if there was a problem with wall street, it would be a priority to get it up and running as soon as possible. Ive spoken to the white house and i know its a priority for them to make sure that we get wall street and the markets prayingal as soon as possible. I apologize for the noise in the background. The power just went on it here. I apologize. Governor, do you have any expectation in terms of the loss in revenue, the Economic Impact to new york state or new york city, given the fact that business is in lockdown mode and shut down . You know, maria, i dont think the Economic Impact, the bill for the damage ultimately gets picked up primarily by the federal government. In concert with local and state governments. The federal government pays the bulk of the bill. And you have a large number of states. And my guess is, this is going to be extensive damage from a financial point of view, which federal government through fema, federal Emergency Management agency, et cetera, ultimately winds up paying for. State and locals pay a portion of it. But its a small portion. I dont believe thats going to have a Significant Impact long term. The expenses diffused. Its not good for state and local governments because were already under a lot of pressure but i think thats going to be manageable. And i dont think its going to have a major impact. I just your question earlier on when do the markets get up and running and is there a delay, i think if theres an Economic Impact, that would be it. Thats why the white house is concerned. Im going to be reaching out to secretary geithner to make sure were coordinated to everything we can to get wall street everything it needs to be operational as soon as possible. And your power just went out. Were expecting widespread Power Outages once sandy does hit landfall. Is that an accurate statement . I mean, will things get worse from here . Things will get worse. Im in a military facility and we just had interpretation of the power. As you heard. I apologize for the disruption. It will get worse before it gets better. No doubt about that. The storm surge which was supposed to be about 8 00 tonight has been moved up to 6 00 or 7 00. Weve had a low tide, basically all day. Weve had significant flooding with low tide before the storm really hit. So, we havent felt the punch yet. Were going to feel that this evening. About 200,000, 180,000 people without power already in the state. Its not going to be good. Its manageable and were tough as new yorkers, as you know, were resilient and we come together, but its not going to be easy. Governor, are you looking into this crane thats hanging off a building on west 57th street . Weve been talking about this all day. Emergency workers are at the scene of a crane dangling off a 65story building. Its in the middle of construction. Going to 90 floors. I guess folks want to know, how is it possible the Construction Company left the crane on the roof knowing what was coming our way . Well, you know, maria, ifs on long island now. I was in manhattan earlier. First thing i did this morning was i went to the World Trade Center site. One of the things we were concerned about were the cranes in the World Trade Center site, right, because youre right down at ground zero. So it was a cause of concern there. Yeah, im aware of it. I know the city is sending Structural Engineers to see what the situation assess the situation. But it is very frightening. I have to tell you, maria, ive been all over the state today. Its very bad out there. And that we have not had more incidents, i think, frankly, weve been very, very lucky. I havent heard a report of any loss of life thus far and i think were very, very lucky when it comes to that. Hope to god it remains the case. But its people should not take this lightly. You know, its not a spectator event. It is very serious. And these wind gusts, we just closed more bridges in new york. We closed the George Washington bridge, close the verrazano bridge, all the big bridges as the evening goes on because its a very serious situation. What is your recommendation for businesses who obviously have been shutting down as well to just get out of the way . Any recommendation here for wall street or business that is clearly shutting their doors as we all hunker down . No. I think you beat me to the punch, as usual. Stay home is the advice. You dont need to be out. You dont need to be on the roads. Frankly, we dont want you on the roads. We need First Responders to get where they need to go and emergency vehicles to be able to get where they need to go. The roads are not safe. Theyre just not safe. Especially as were coming into these evening hours. And on the wall street situation, we get how important the Financial Markets are to this country. Theyre important to our state also. And i believe they have very sophisticated backup power precautions theyve already taken. But im going to be all over it. Any help they need from us, they will get. Governor, we know youre all over it. We appreciate you taking the time to call into the program tonight. Thanks very much. Thanks. I apoll guides for the noise in the background, but some things even a governor cant control, maria. Thank you, governor. Well see you soon. Governor andrew cuomo joining us as you heard from long island today. Robert frank joins me now for more on the crane in midtown manhattan. Youre outside the building, robert . Reporter yes, we are, maria. As you heard the governor say, theyre trying to get Structural Engineers here. In the meantime, the police and Fire Department have blocked off the entire area between 6th and 8th avenue on 57th street. Its a huge area. But if you look up at that crane, which should be pointing to the sky rather than toward the ground, thats a sevenstory piece of crane thats hanging off there. I dont know how theyre going to get up get workers up there to secure it or even to inspect it. So, in the meantime, theyre trying to keep everybody clear of the area so there are no damages. A couple of important storylines with this building. Its not just any building. This one57 tower is the most highprofile residential new Luxury Development in manhattan. Several billionaires are on the penthouse floors, purchasing apartments for more than 90 million. Again, one of the most expensive buildings in the city. Also the Construction Company behind this is the Company Formerly called bovis. They, of course were the Company Involved in the Deutsche Bank building and the death of those firefighters. A lot of questions are going to be asked about this company, about the general contractor and whether they followed the rules that the city required, shut down construction, secure all cranes over the weekend. So, a lot of questions for a very highprofile building already under a lot of scrutiny. Thats right. Because construction sites were told to tie equipment down by saturday at 5 p. M. I mean, the rest of the world took whatever they had in their backyards or on their balconies out and made sure there was nothing that the wind can move. I dont understand why this Construction Company thought it was okay to leave a crane on the top of a 65story building. Reporter you know, i couldnt agree more, maria. The other question is, im not quite sure how you tie down a crane that large and whether they might have followed protocol. Theres been a huge surge in Luxury Developments in manhattan over the last six to eight months. A lot of cranes in manhattan all of a sudden. Again, im not quite sure, once theyre up there, thats qui high, a 90story building, the tallest residential to youer in new york. I dont know how you quite secure a crane that large. These are questions that everyones going to city did its job with these random inspections they are supposed to dover the weekend. Robert, thanks very much. In the element, robert frank outside the building. The city official said they have month plans to go up and remove that crane. They have gone as high as they can to inspect the crane. They are not planning on taking it down. Even though it is hanging over the side of the building. Take a short break. When we come back, sandy wreaking havoc up and down the east coast. [ male announcer ] this is joe woods first day of work. And his new boss told him two things cook what you love, and save your money. Joe doesnt know it yet, but hell work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. Hell start investing early, hell find some good people to help guide him, and hell set money aside from his first day of work to his last, which isnt rocket science. Its just common sense. From td ameritrade. Governor of getting it done. You know how to dance. With a deadline. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. This is awesome. [ male announcer ] yes, it is, business pro. Yes, it is. Go national. Go like a pro. Welcome back. Continuing coverage of Hurricane Sandy. Nearly 14,000 flights have been canceled due to Hurricane Sandy. More specifics on the impact on air travel from new york based jetblue. It has a major presence along the east coast. On the telephone with me is the jetblue chief operating officer. Good to have you on the program. Can you update us on how many flights have you cancelled and when you think you will be able to get stranded travelers moving again . Good to be with you. As i sit here today in Long Island City we are cancelled about 1,200 pilots through the early part of wednesday. We are planning right now to begin bringing flights back to boston on tuesday night. Then trying at the Infrastructure Ready for us and what subways and bridges and mass trance and it all that kind of good stuff if they can come back reliably tuesday night into wednesday we will try to Begin Operating into new york sometime on wednesday. We have got 12 had 00 flight cancelations at jetblue is that the right number . 1300 flights . Thats correct. Thats what we are at right now. What kind of precautions did you have to take with your equipment, specifically the planes, ahead of and during the storm . Last week we started raising a lot of awareness internably the magnitude of what the storm can be. Fortunately or unfortunately all those predictions are coming true. We are planning late into last week. Then on saturday we really called that decision day. We had to start making decisions. First part of our plan was to safely secure our assets. Customers, crew members, which is our word for employees and also our airplanes. And we actually had to depart about 60 aircraft supposed to remain overnight. All the way as far south as washington, d. C. , all the way up into boston to safer havens. Mainly out in florida and also the midwest. It was quite an airlift operation. I mean, we know that we are just at the beginning of this and it is going to get a lot worse. Once sandy makes landfall. Which we are expect something the next two hours. You dont know the total Financial Impact on to the airline but what kind of estimate are you expecting in terms of the cost and lost revenue due to a storm like this . You know, you know our industry pretty well. While it is a receive lou lossuation it is a lot of cost we are not spending in terms of operating flights day in and day out. Way too early to come up with an estimate but have one over the course of the next week after everything is back together and operating as expected. All right. We will check in with you again. Again, 14,000 flight cancelations for the entire industry. 1300 flight cancelations of jetblue. Good to have you on the program. Thanks for your time tonight. Thanks. It certainly wont be business as usual for tomorrow. Top money watchers will tell what you you need to know to manage investments at a time these markets are closed today and tomorrow. We will get you set up for wednesdays onning. Our special coverage of the monster storm continues on the closing bell. In the world. You see they all have something very interesting in common. They have teachers. With a deeper knowledge of their subjects. As a result, their students achieve at a higher level. Lets develop more stars in education. Lets invest in our teachers. So they can inspire our students. Lets solve this. Looking for a better place to put your cash . Heres one you may not have thought of fidelity. 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This is a shot of broadway. It is shooting down broadway. It is right behind me. It is a live camera. And as you can see, you can see partly the rain but really whats most important is the fact that this camera shaking so much because of the winds