Storm Strands Travelers
The East Coast blizzard is keeping airports shut, leaving thousands of travelers stranded here and throughout the U.S. More than 6,000 flights have been cancelled and travelers could be waiting days before getting a new flight. Space is tight as existing flights are full, and fewer planes are flying after airlines cut the number of flights to save money.
In the New York area, Port Authority officials say JFK and Newark are open. They also say LaGuardia expects eight arrivals and one departure after 8 p.m. tonight.
Market
Trading volume was light on Wall Street today, due to the winter storm and the holiday season. The Dow lost 18 points, to close at 11,555. The S&P 500 and the Nasdaq gained just under a point. The S&P 500 closed at 1,257. The Nasdaq closed at 2,667.
One stock that did well today: AIG. The insurance giant -- which received the biggest government bailout during the financial crisis -- took another step today toward repaying the government. It obtained a $3 billion line of credit to replace money provided by the Federal Reserve. The stock jumped more than nine percent at the end of trading.
How Will the Storm Affect Retailers?
The blizzard that left the New York City region buried under more than a foot of snow hit right when many people were getting ready to return unwanted gifts, or use a gift card, or maybe hunt for an after Christmas sale. Will the storm which left shopping mall parking lots buried in snow and shoppers trapped in homes lead to a drop in sales?
WNYC's Business and Economics Editor Charlie Herman asked Bill Kirk, CEO and founder of Weather Trends International, which does long-range weather forecasting for retailers. Kirk talks about the affects of stormy weather on sales, and how retailers recoup.