US Tragedy Effect

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From: Neil Iffland


What does everyone think the US tragedy will do to the property market ?

Will this burst the bubble ?
 
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Reply: 1
From: Sergey Golovin


Trade at Chicago Stock Exchange (agricultural products) was suspended and export of one of the Western Australian meat co. is on hold. This is just one example. I am sure it would be few more.

Yes, we do have a problem but let not panic as yet.

Import-export, stock and currency will be effected, but believe me this is a chicken feed compare to the military and security expenditure.

Serge.
 
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Reply: 1.1
From: Robert Forward


And let alone the trillion dollar insurance payouts that are about to happen.

When the payout for the last bombing of the WTC was $500m and the building wasn't knocked down and this time it was plus lots more damage.

It's no wonder that insurance companies shares have fallen sharply today.

Cheers
Robert

The Sydney "Freestylers" Group Leader.
 
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Reply: 1.1.1
From: Les .



G'day Robert,

I had been wondering about that!! Don't the Insurance Co's refuse to pay out on "acts of war" and other similar attacks? (Can't think of the actual wording ...)

Will the Insurance Co. pay out on this one?

Regards,

Les


- "Eschew Obfuscation" - ;^)
 
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Reply: 1.1.1.1
From: Robert Forward


I think the insurance companies would payout to some degree. And seemly some of these buildings and planes do have insurance to cover terrorist attacks. Westfield, who just settled an $800m deal on a 99 year lease for ALL the retail section of the WTC has announced they are covered for terrorist attacks.

Cheers
Robert

The Sydney "Freestylers" Group Leader.
 
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Reply: 1.1.1.1.1
From: Sim' Hampel


Westfield Holdings who had just taken on the lease for the retail shopping complex that was part of the WTC claim that they have full insurance against terrorist attacks... would hate to see what their premiums were like.

 
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Reply: 1.1.1.1.1.1
From: Michael Yardney


I read today that the cost of the New York disaster is estimated to be $ 20-- $30 Billion, equivalent to impact of Hurricane Andrew - and America got over that.

European markets recovered 1.7% overnight, Central Banks around the world pumped $120 bill into the system, Commodity prices retreated over night, NZ market currently up 1% All Ords currently up 1.8 %
Life will move on - maybe it's time to take advantage of the motivated sellers of shares and property?
Michael Yardney
Metropole Properties
 
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Reply: 1.1.1.2
From: Anonymous


Because it was an 'act' of war and not part of a war the insurance companies do have to pay out. Re insurance companies are currently looking at a combined bill of 30 billion - Hurricane Andrew cost re-insurers 19 Billion.
 
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Reply: 1.1.1.2.1
From: Les .



G'day all,

Just caught a report (on 2GB) that only one of the two WTC towers was insured - REALLY??

If true, someone must be feeling pretty sick right about now ....


Les


- "Eschew Obfuscation" - ;^)
 
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Reply: 1.1.1.2.1.1
From: Kippy :)


Hey peoples,

Firstly my thoughts and condolences go out to all involved with the horrific events in the US.

Secondly the report was correct. Only one of the two towers was insured (chances of both collapsing so small) and then only for approx. $3billion. With the two towers valued at $10bill+ someone must be feeling VERY sick I would imagine.

Take care,
Kippy
 
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Reply: 1.1.1.2.1.1.1
From: Sergey Golovin


They did try to put cost on everyday loss and came with figure of 2 bil. per day (retail and office space) + tourism + ...= 25 bil per day loss.

Serge.
 
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Reply: 1.1.1.2.1.1.1.1
From: See Change


2 Billion PER DAY !!??

is that right serge

see change
 
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