This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Safety, Need Compete In Typhoon-hit Philippines

Interior Secretary Mar Roxas, who visited New Bataan on Wednesday, saw the town covered in 15 centimeters (6 inches) of mud. He was told by townspeople that a pond or a small lake atop the mountain collapsed, causing torrents of water to rampage like a waterfall.

"There is hardly any structure that is undamaged in New Bataan town," he said. "Entire families may have been washed away."

New Bataan residents led reporters from Manila's GMA Television to a mound of felled trees that were swept down from the hills. At least five bodies were jammed beneath the rubble, with no sign that anyone had attempted to retrieve them. It was uncertain if there were more bodies at the site.

Dozens of people stared blankly at their devastated town as they waited at a government information center, hoping for word of missing relative. Authorities planned to display about 80 newly washed bodies in coffins at a Roman Catholic church Friday, hoping relatives will identify them.

The military said Thursday that 214 people died in Compostela Valley and 151 in nearby Davao Oriental province, with 31 others killed in other central and southern provinces. The typhoon, which hit the region with winds of 175 kph (109 mph), was over the South China Sea on Thursday and was expected to dissipate by the weekend.

Deadly floods are common on resource-rich Mindanao Island. Last December at the island's opposite end, 1,200 people died as a powerful storm overflowed rivers. Then and now, raging flash floods, logs and large rocks carried people to their deaths.

The Bureau of Mines and Geosciences had issued warnings before the typhoon to people living in flood-prone areas, but in the Compostela Valley, nearly every area is flood-prone.

Bureau Director Leo Jasareno said about 80 percent of the valley is a danger zone due to a combination of factors, including the mountains and rivers, as well as logging that has stripped hills of trees that minimize landslides and absorb rainwater. Logging has been banned since last year's fatal flooding, but it continues illegally.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs