Estimated reading time: 1 minute, 7 seconds

First Blizzard of 2015 Not As Costly As Expected

Severe snowstorms can shutter businesses, schools and even entire transit systems and that's exactly what happened in last month’s first major East Coast winter storm. The predictions were quite dire, perhaps in response to last winter’s “polar vortex” storms and frigid cold snaps.

The January 2015 blizzard, dubbed Juno, is estimated to have cost in the $500 million–$1 billion range, as opposed to the multi-billion-dollar tally racked up by the early-winter 2014 storms. So reports the International Business Times.

Even though Juno didn’t inflict the cataclysmic damage on the New York/New Jersey/ Connecticut tri-state area that was feared, it still shut down New York City for a day and hit Boston, Cape Cod, Nantucket, Maine and other parts of New England quite hard. Even though some retail businesses like Home Depot and supermarkets sold out their supply of snow shovels and emptied their shelves of provisions, airlines and passengers likely racked up hefty tallies for cancelled flights, as they did in 2014.

And while snow-removal crews and emergency workers earned substantial overtime pay, significantly more dollars were lost by hourly workers who couldn’t report for work, and consequently lost a day’s pay. The states of New York and Massachusetts cited loss of pay as a significant component of their multi-mullion-dollar losses due to Juno.

Read the full article from the International Business Times.

Read 2992 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.