EF2 tornado hit Atlanta

Last night, Atlanta was hit by an EF2 tornado. We haven’t seen a tornado like this for decades. The Georgia Dome, CNN, Equitable building, Philips Arena, and the Western hotel were all damaged. At this moment, downtown Atlanta is still in a big mess. Firefighters are cleaning up the streets and rescuer teams are working night and day to help victims recover from the storm.
The City of Atlanta officials estimated that the damage was roughly $200 millions. The Georgia Dome had damage of about $150 millions. There was more damage all over the Georgia counties that hasn’t been reported yet. This was a tragedy for many people who were hit by the storm. I was actually driving on I75 toward downtown Atlanta at 9:30p.m. To me, it was horrifying. I was not able to see outside the windshield. The hale was so heavy and it almost damaged my car. I turned on my emergency lights. I had to stop on the highway a couple of times just to avoid an accident. That was the worst storm I have ever experienced.
We talked about weather risk the other day in class. It is a component of financial risk and is unavoidable. A lot of the rebuild will be paid by insurance. However, there is still some basic risk, which is the cost that is not hedged, such as the time it will take to recover, the inconvenience that victims will have to go through, and the mental scars.

http://www.myfoxatlanta.com/myfox/pages/News/Local?pageId=3.2

http://news.yahoo.com/s/ap/20080315/ap_on_re_us/atlanta_storm