Oklahoma storm may be costliest U.S. natural disaster this year

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by Jane King / Bloomberg Business Report

Bloomberg

Posted on May 21, 2013 at 7:31 AM

Updated Tuesday, May 21 at 11:08 AM

Nearly 64 million people in a broad strip of the Midwest are bracing for a third day of tornadoes, powerful thunderstorms and damaging hail, from the same storm system that spawned that tragic twister in Oklahoma Monday. Severe storm systems including tornadoes caused at least $27 billion in economic losses last year, second only to hurricanes and tropical storms, according to the Insurance Information Institute of New York. And one meteorologist tells USA Today that by the time this current storm system winds down later this week, it may end up being the costliest U.S. natural disaster event so far this year. Oklahoma City's been struck by tornadoes more times than any other place in the U.S.

Americans are doing a better job of dealing with credit card debt. Transunion says the delinquency rate fell in the first quarter and the average debt per borrower dropped almost 5 percent from the previous quarter to $4,878.

And Greyhound is hoping acting like an airline will help profits fly higher. The bus company is doing away with flat pricing and starting to charge more for travel on certain high-demand days instead.  Greyhound is getting help from an unidentified airline on this. It's also starting a loyalty rewards program, and promising to upgrade buses nationwide.

 

 

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