New York Twin Tower Incident - Assignment Example

The paper "New York Twin Tower Incident" is a great example of a finance and accounting assignment. According to glass steel and stone (2009), the incident occurred in the World Trade Center, New York United States of America on 11th September 2001. The incident led to the collapse of the World Trade Center North Tower at 1030 hours, the collapse of World Trade Center South Tower at 0950 hours and the collapse of seven world trade center at 1725 hours. Other affected building includes the Four World Trade Center, Five World Trade Center, Six World Trade Center, The Marriott Hotel, One Liberty Plaza and Saint Nicholas Greek Orthodox Church. The incident made 105 children who were conceived before the attack but born after not seeing their fathers, 83,000 people lost their jobs, 18 people were retrieved from the rubble alive and 13,000,000 square feet of office space was lost. The New York Times reported on 15th September 2002 that the incident led to the closure of three subway stations namely South Ferry Station, Rector Street Station and Cortland Street Station that were estimated to be repaired at a cost of $ 100,000,000. The New York Times on May 8th 2003 indicates that a judge ruled that Osama Bin Laden, Saddam Hussein and other families’ owed victims of the September 11th 2001 attacks $ 104,000,000. The building of the memorial was estimated to cost $ 500,000 and was scheduled to be completed by 2009. The incident led to the deaths of 2752 people. Initially, they were 1751 but on January 16th 2009 a man dies after he developed cancer after exposure to toxic fumes following the collapse of the World Trade Center. Among these 2752 people who lost their lives, 343 were firefighters. On 4th August 2002, the New York Times reported that the real estate company that controlled the world trade center lease incurred a loss amounting to $ 8,200,000,000. On May, 25th 2002, the New York Times reports indicate that 20,000 body parts were recovered and 1,800,000 tons of rumbles were retrieved. On December, 25th 2001, the New York Times reported that the United Nations estimated that 24,000,000 people lost jobs worldwide as a result of the incident while 15,000,000 people were made poorer by the incident.