Subject: competitive analysis update # 7 - us terrorism attacks
us financial markets
emergency site relocation
the emergency site relocation for firms affected by the wtc bombing is going well on the fixed income and commodities trading side . trading is being relocated largely to new jersey and connecticut . there was very significant contingency planning here , and it is being put to good use . the futures and equities markets are not moving as quickly due to telecommunications problems . bond trading , which will resume in tokyo tonight ( as reported in the press ) , means that the cash market in the us should start to come back tomorrow .
forex
the foreign exchange markets have been quiet , as the fed reportedly stepped in and told people to settle their outstanding issues , but not to initiate new directional positions or large arbitrages .
insurance
the insurance firms most affected by the crisis are ing reinsurance and allianz . these firms may have capital issues from insuring losses related to the crisis - they were overconcentrated in this area .
transportation / infrastructure issues
telecommunications
communication issues continue to be the biggest problem . this is the only area where sufficient redundancy was lacking . for example , citigroup is having problems with e - mail capacity and is cutting back on all non - essential e - mails . this continues to be the chief barrier to resuming operations .
crude / products / refineries
loop terminal now restored to regular operations .
maritime traffic
according to dow jones , dry bulk shipowners were reluctant to lease out vessels on long - term contracts wednesday , after terrorist attacks in the u . s . tuesday brought security issues to the fore
air traffic
midway airlines announced today that effective immediately it has suspended all future flight operations . their press release states that " this action is being taken at this time in order to preserve the value available for midway ' s interest holders and with the recognition that following the recent terrorist attacks demand for air transportation is expected to decline sharply . "
us - canada border
bc border open but moving very slowly . delay for trucks at bc truck crossing now up to about 6 hrs . truckers being sorted into two groups , those with papers and order and those without papers in order . all trucks being checked extensively . only us residents and those on important business are being let back into the us .
rail traffic
all canadian pacfiic railway ( cpr - freight ) operations in canada and the us continuing to operate as normal . all cpr border crossings open and moving as planned .
politics
saudi oil minister states that saudi arabia and opec to cooperate to cover any oil supply shortage .
nato expresses support for us ; bolstering likelihood of massive reprisal .