Hurricane Sandy is bearing down on much of the east coast and is expected to make landfall along the coast of New Jersey and New York City within hours. Many major cities and local communities along the path of the storm have preemptively cancelled schools and transportation services, encouraging citizens to stay home and off the roads. For the first time in 27 years, the New York Stock Exchange was closed today as a result of weather and both stock and bond markets will remain closed through Tuesday.
Here in Massachusetts, yesterday, Governor Patrick requested that schools and businesses close today and, with the safety of our team in mind, we took the precautionary action to close our offices Monday. We do have the capability to work remotely and all of us are available to you as both emails and phones calls are forwarded directly to our smart phones. We will decide later this evening whether we’ll open our offices tomorrow depending on the impact of the storm this evening. Importantly, all of our systems and technology is backed up remotely and we do not have any concerns should the greater Boston area be impacted by any extended loss of power.
We hope that those of you in the direct line of the hurricane remain safe and are spared any meaningful impact from the storm. Please let us know if you have any questions and, despite the investment markets being closed today and tomorrow, please do not hesitate to reach out to us if we can be helpful to you over the next couple of days.