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The toll of a blizzard
That’s the estimated economic impact of the weekend blizzard on the East Coast. And though it may seem like a lot of money, it’s a relatively low amount for the damage that could have been done. As the Associated Press writes, part of the saved costs have to do with when the storm hit (over the weekend), and there were no major power outages. And as some economists point out, any business lost over the weekend could ultimately be made up by people stocking up before the storm hit, as well as making purchases while stuck inside.
That’s how much Santa Barbara, California spent on a desalination plant during a severe drought in the late 1980s — the plant converts sea water into drinking water. But then, in the early 1990s, heavy rain made it unnecessary to turn on the expensive-to-run plant. Now, the city is spending $50 million to reactivate the plant. But city officials worry that the forthcoming El Niño could spell déjà vu.
That’s how many executives have left social media company Twitter, as confirmed in a tweet by chief executive Jack Dorsey. As BBC Tech writes, the exiting members include head of product Kevin Weil, head of media Katie Jacobs Stanton, head of engineering Alex Roetter, and Skip Schipper, who handled human resources for the company. Weil specifically was involved in the development of the poorly received Moments feature.
That’s how many people Baker Hughes, a drilling services company which Halliburton is buying, says it will lay off. With oil prices at a record low, many consumers assume that spells more money circulating throughout the economy. But some economists say the savings by consumers are relatively modest, and that the damage done to the oil industry workers outweighs the benefits.
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