August 16, 2003

Many experts say it is far too early to calculate overall economic effect of blackout on New York City; most businesses suffered, but some, including pay phone operators and street vendors gained; Consolidated Edison and city face increased overtime expenses, but that spending may boost area's economy; City Council finance director Larian Angelo estimates blackout will cost city $30 to $40 million in lost tax revenue and cost residents total of $500 million to $750 million in personal income; economists are fairly sanguine about overal economic effects (M)

One way or another, this was Aaron Boone's moment. If there was was anything he could do about it, Boone was not going to let an umpire take it from him. Boone, the third baseman acquired from Cincinnati on July 31, came to bat in the ninth inning tonight with 6 hits in 51 at-bats for the Yankees. Trailing by a run, with two runners on and one out, the Yankees needed him most.

Companies specializing in data recovery are among few that are benefiting from August 14 electrical blackout; IBM disaster recovery center in Sterling Forest, NY, was operating using diesel power immediately upon failure of power grid, offering customers use of computer systems as well as spare desks and area hotel rooms; Harris Interactive poll commissioned by disaster recovery specialist Sungard finds that comparatively few companies are prepared for such emergencies, with only 10 percent of responding executives rating power blackout as greatest threat to information availability; photo (M)

Financial markets resume trading on opening bell despite chaotic circumstances resulting from August 14 power blackout; diesel-fueled generators keep most systems running on schedule, although opening of American Stock Exchange is delayed for hours by failure of air conditioning system; Dow Jones industrial average closes up 11.13 points at 9,321.69 on extremely light trading; Nasdaq composite index closes up 1.67 point at 1,702.01; Standard & Poor's 500-stock index closes up 0.16 percent; yield on Treasury's 10-year note is up to 4.53 percent, from 4.49 percent, while price drops 10/32, to 97 24/32; graph; chart; photos (M)

Libya formally accepted responsibility for the bombing of a jetliner over Lockerbie, Scotland, in 1988, pledging compensation to families of the 270 victims and opening the way for the lifting of U.N. sanctions.