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10 The long reach of mother Nature
Ushering in what meteorologists say will be a 20-year period of more fervent hurricane activity, twin storms Katrina and Rita left New Orleans and a large swath of the Gulf region in shambles, dampening consumer confidence and spending, at least for a few months. Katrina was the most expensive U.S. natural disaster in history and will cost the media industry a projected $1.13 billion in lost ad revenue and other communications spending through September 2006, says custom media research firm PQ Media in Stamford, Conn.
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