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Recovery: New York gears for long haul

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New York is pondering the future of the World Trade Center site as it clears the rubble. 


Tons of rubble and a host of structural, logistical and safety challenges could extend recovery and cleanup efforts in lower Manhattan at least a year, Mayor Rudy Giuliani said Friday.

U.S. equity indexes, meanwhile, extended the previous day's rally, as stock investors shrugged off corporate profit warnings on the last day of the third quarter in favor of stronger-than-expected economic data.


Workers already have removed around 134,000 tons of debris from around New York's World Trade Center complex, but more than 1 million more tons of rubble remain.

"The amount of time they will need to remove and clear the site will range anywhere from nine months to one year because of the complexity they believe they will face," Giuliani said. (Full story)

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Wall Street was cheered by Friday's data. The University of Michigan consumer sentiment index was revised lower for September, but still managed to surpass economists' expectations, while the Chicago Purchasing Management Association index of manufacturing activity showed a rise in September, when economists had expected a fall.

"Earnings warnings are backward looking, economic data are forward looking. People want to look forward," said David Beard, portfolio manager, Morgens Waterfall Vintiadis.(Full story)


Will Americans resume air travel at their previous levels? Click for more

What will happen to the World Trade Center site? Click for more

What are the legal issues involved in compensating the victims?

What will be the long-range impact on the insurance industry?

How has the fabric of New York, Washington and the country as a whole been altered?

What measures will be taken to try to prevent a recurrence of such attacks? Click for more

How will these measures affect the American way of life?

What effect will the attacks have on the economy?

What will be the global effect?


George W. Bush: U.S. president

Laura Bush: First lady of the United States, she has become more visible since the terrorist attacks, making public appearances urging parents and teachers to help reassure children that everything is being done to try to keep them safe. Click for more

Tom Ridge: President Bush's appointee as head of the newly created Cabinet post of Office of Homeland Security, Ridge has been governor of Pennsylvania since 1995. Click for more

Joe Albaugh:The chief of the Federal Emergency Management Agency Click for more

Rudolph Giuliani: Mayor of New York Click for more

Paul O'Neill: Treasury secretary

Norman Y. Mineta:Transportation secretary

Jane Garvey: FAA administrator


The official number of people missing in the World Trade Center rubble dropped to 5,960 after a recheck of missing persons reports. The police department is drawing its numbers from six different sources, meaning there is still the possibility of duplication.

The mayor said 306 deaths have been confirmed and 238 of the dead have been identified. A total of 8,786 people have reported injuries from the World Trade Center attacks


The events of September 11 exposed the vulnerability of the world's greatest superpower, presenting the United States with the challenge of recovering emotionally and physically.

Several industries -- particularly the airline industry and the insurance industry -- have been hit hard by the aftermath of the terrorist attacks, and their progress will be watched closely as a guide to the overall U.S. economic and psychological recovery.


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