Northeast travel slowly resumes
NEW YORK -- Travel in the Northeast creaked back into motion on Wednesday, a grinding, patchy recovery that made it clear that stranded travelers will struggle to get around for days to come.
Two of the three major airports in the New York area re-opened with limited flights. Most Northeast rail service was suspended. In New York City, some buses were running and subway service was expected to restart Thursday.
FlightStats said the storm caused more than 19,000 cancellations, including 2,820 cancellations Wednesday. The loss of East Coast flights stranded tourists in New York and kept travelers stuck in Hong Kong. The lack of trains left suburban commuters without a way into work.
On Wednesday, the first trickle of air travelers reached New York since the storm hit. John F. Kennedy International and Newark, N.J.'s Liberty Airport both opened, but flights were limited. The airlines that did operate were mostly positioning planes for a fuller schedule on Thursday.
New York's third major airport, LaGuardia remained closed as officials assessed flood damage from the storm. A spokesman for the Port Authority of New York & New Jersey said the assessment of the airport's runways had not been completed. He said more details might be available by late afternoon or evening.
Netflix stock soars on news of Icahn's stake
SAN FRANCISCO -- Billionaire investor Carl Icahn has seized on Netflix's recent troubles to build a 10 percent stake in the Internet video service.
Wednesday's disclosure about Icahn's stake in Netflix Inc. caused the company's stock price to surge by 16 percent in late afternoon trading.
Icahn's filing with regulators didn't specify why he decided to buy 5.5 million Netflix shares.
But Icahn typically wields his stakes in companies to pressure changes in management and the board of directors. He also frequently pushes for companies to consider selling themselves or to pursue other dramatic changes to boost stock prices.
NRP acquires interest in Wis. frac sand reserve
HOUSTON -- On Wednesday, Natural Resource Partners L.P. reported the acquisition of royalty interests in frac sand reserves near Wyeville, Wis., for $15 million.
The reserves are currently being mined, processed, and sold under long-term contracts and will immediately generate income for NRP, according to a news release. The reserves have an estimated life of more than 30 years and are strategically to serve all major U.S. oil and natural gas producing basins. The sand is used in the fracturing process for oil and gas wells.
NRP, which has its operations headquarters in Huntington, owns and manages mineral reserve properties.