> In the, “We have to get this news item out of the way” category:
- METRO NORTH WILL RESUME SERVICE AT 2PM, WILL RUN ON A SUNDAY SCHEDULE.
- Over 100,000 Con-Edison customers without power; company expects power to be restored by Thurs. Sept. 1 at the latest.
- Reports indicate Sound Shore, Saw Mill River area hardest-hit in Westchester County.
- Early estimates put Irene damage at $7 billion, according to the New York Times, with insurance companies being hit with an estimated $2.6 billion in costs.
- The A.M. Best Co. has estimated disaster-related losses from 2011 at $27 billion through June 30 (so figure much higher when you include damage incurred since), making this year one of the costliest in recent history.
> Consumer spending in the U.S. increased by 0.8% in July (after falling by 0.1 percent in June), marking a major turn-around and a positive sign for the economy. Economists had expected gains of 0.5%.
> Personal income data, housing index and manufacturing index due out this week – stay tuned.
> In the coming weeks, the Business Journal will be closely following Gov. Cuomo’s Regional Economic Development councils and the newly-launched “NY Open for Business” campaign; check back here for more analysis as those stories develop.