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No, the economy wouldn't be better off if everyone moved to New York and San Francisco
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Block by block and city by city, utilities face one of the largest power-restoration challenges in U.S. history as they bring back electricity to more than 15 million people left in the dark after Hurricane Irma.
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Quartz
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The Week Magazine -SFist -
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 Georgia Power, a subsidiary of Southern Co. , said Wednesday that 95% of its customers who were impacted by Hurricane Irma should have power restored by Sunday night. By Tuesday night, 60% of the customers impacted, or about 590,000 customers, had service restored. The Atlanta-based utility said about 360,000 of its customers are currently without power. The company said there have been more than 12,000 cases of individual damage or trouble, which includes broken poles and lines. Southern's stock, which was inactive in premarket trade, has gained 2.7% so far this month, while the SPDR Utilities Select Sector ETF has lost 0.1% and the S&P 500 has tacked on 1.0%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Hurricane Irma has weakened to a tropical storm, but left damage to nearly all parts of a tightly connected Florida economy that relies heavily on tourism.
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Initial estimates suggest Harvey and Irma's damage will cost between $150 billion to $200 billion.
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Irma has left up to 15 million people in Florida without electricity. Restoring service could be the most complex operation of its kind in United States history.
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Irma's damage is hefty, but there's some relief now the storm has weakened.
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