Hurricane Irene Costs Appaloosa Its Electricity

Aug 30 2011 | 2:51pm ET

At least one hedge fund was more than slightly inconvenienced by Hurricane Irene, which struck the New York area on Sunday.

While the city was mostly spared the predicted destruction, its suburbs were hard-hit. Millions of customers in Connecticut, New Jersey, Long Island and Westchester County, home to many of the world's largest hedge funds, lost power; many are still without it.

One customer that lost power was Appaloosa Management; the firm was forced to move from its Millburn, N.J., headquarters after the storm cut its power, Reuters reports. It is unclear whether Appaloosa's lights had come back on, or, if not, when they will.

The hurricane also caused massive flooding, particularly in New Jersey, and disrupted transit in the whole of the New York City area.


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