Marketplace PM for September 1, 2005
It's not just oil and natural gas shipments that've been disrupted by Katrina's winds and rains; seaports from Alabama to Louisiana got hit hard, too. John Dimsdale reports on the port slowdown.
Much of the spotlight over the last few days has been on New Orleans. But Dan Grech has spent the last few days in southern Alabama, where he met a woman in tears.
Strangely enough, the latest economic snapshot looks pretty good: consumer spending jumped one percent in July, home prices keep on climbing, and Ford and Chrysler both posted modest sales gains last month. But economist and commentator Brad DeLong says that's all history.
Drinking water is scarce, looting and violence are on the rise, and today search and rescue missions were put on hold after helicopters came under fire. Host Cheryl Glaser talks with AFP reporter Mira Oberman in New Orleans.
Among evacuees who have made it out of New Orleans, many are heading to Texas. By mid-afternoon, some 5,000 refugees had already made the trip from the Superdome in New Orleans to the Astrodome. Bob Moon reports.
The head of New Orleans' emergency operations said today that FEMA's response to the hurricane has been "a national disgrace." Hillary Wicai looks at how high the recovery bill could go — and how it will get paid.
Employers with operations along the Gulf Coast are also pitching in and helping with disaster relief. Many have set up hotlines and emergency shelters for displaced workers and their families. Amy Scott reports.
Power outages are affecting the pipelines that carry fuel from the Gulf Coast to other parts of the Southeast. From WFAE in Charlotte, North Carolina, Jaime Bedrin reports.
In many parts of the country, gasoline prices are now running at $3 a gallon. Severin Borenstein is director of the University of California Energy Institute. He looks forward with host Cheryl Glaser.