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Gov. Cuomo: Sandy to Cost New York $42B

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  • Description

    FBN’s Robert Gray on Hurricane Sandy’s potential financial impact on New York.

  • Duration 0:55
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I'm Robert Gray with your Fox Business -- -- mixed day for stocks the NASDAQ was up for -- sixth -- its longest winning streak since January but the Dow was down 42 points.

Back below the thirteen thousand level.

Lehman Brothers is selling its largest asset arched stone to Equity Residential and Avalon -- for six and a half billion bucks in cash and stock.

Under the agreement Equity Residential loan roughly 60% of our -- assets and liabilities with the remainder going to AvalonBay.

The deals expected to close during the first quarter of next year.

And hurricane sandy may cost the State of New York nearly 42 billion dollars that's -- governor Andrew Cuomo said today.

The bulk of the cost is more repair -- restoration but more than nine billion dollars will be earmarked for mitigation and prevention of future storm damage.

And that is the latest from the Fox Business Network giving you the power to process.

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