Winter Storms Hit Cities and Businesses in the Wallet
Money Morning submits: By David Zeiler The unusual ferocity of winter storms this year, as well as where and how often they have struck, has put as much strain on some corporate and municipal budgets as heavy snow on a roof.Whether it's climate change, a freak weather pattern or mere coincidence, no one denies the impact that severe weather has had on the United States in recent years - or the past several months, for that matter. Extreme weather has affected every corner of the world. Historic floods in December and January in Queensland, Australia destroyed or damaged more than 30,000 homes. Bad weather in the United Kingdom caused insurance claims to double from last year, as colder temperatures caused pipes to burst and icier roads contributed to an increase in auto accidents The United States has been affected, as well.Since December, a series of harsh storms has hit the Midwest, the Northeast and, uncharacteristically, the South. Oklahoma - which normally sees very little snow - witnessed a blizzard that dropped eight inches of snow on much of the state. Days later Chicago got slammed with 20 inches, the city's third highest total on record.The West, while spared much of the snow, has instead gotten excessive rain. Southern California received the equivalent of six months of rain in just a few weeks - as much as 21 inches in some areas - resulting in widespread flooding and numerous mudslides.The Northeast has been hit the hardest, however. So far thisComplete Story »
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