Hurricane Sandy Gives Boating Industry a Boost

Posted: January 8, 2013  |  By: Peter Greenberg [CBS News]

Hurricane Sandy is blamed for roughly about $62 billion in damage and counting. However, one industry may stand to benefit.

There's not much good you can say about Sandy. But surprisingly, its rising tide of destruction may have actually lifted the recreational boating industry. So along with huge losses came huge payouts.

When Hurricane Sandy barreled through the northeast last October, it leveled homes and businesses along the coastline. It also damaged or destroyed 65,000 boats.

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