Hurricane Sandy's Death Toll Climbs To 74 as Mammoth Recovery Begins

Ending its furious dance of devastation in New Jersey and New York, Superstorm Sandy is heading to the north leaving behind tales of tragedy and dystopia.

As its monster power fades slowly, the mammoth task of heading back to everyday life has begun in the northeast as financial markets reopened, airlines resumed operations, and workers returned after days of shutdown.

The deadly storm has so far claimed 74 lives and left nearly 6 million homes and businesses in the dark due to power outages. The death toll is expected to climb further as rescue workers continue their massive search and recovery mission through floodwaters, rubble and fallen trees in the more than a dozen states affected by the 900-mile-wide weather system. The New York Stock Exchange was reopened with Mayor Michael Bloomberg ringing the opening bell. The city's three major airports are expected to resume operation by Thursday.

Meanwhile analysts estimate that the total bill of the cleanup work, repairs and damage cost could be as high as $100 billion. Researchers said the restoration of damaged transportation infrastructure will cost more than anything else. According to a study by researchers at the Columbia University, the potential losses from an equivalent Category 3 storm hitting the Metropolitan East Coast (MEC) region may amount anywhere from $50 to $100 billion.

This estimate was revealed in a report titled "Risk Increase to Infrastructure Due to Sea Level Rise" which was published last year. Pumping out the water and cleaning the system at the large and complex New York subway system will take time and money. Since the system is quite old, finding replacement parts might prove difficult to find. Damaged parts of the infrastructure might have to be completely replaced with new infrastructure.

In another estimate, forecasting firm IHS Global Insight predicted it would cause $20 billion in damage and $10 billion to $30 billion in lost business.

As the residents struggle their way out to get back to the normal life, authorities are working day and night to reduce the pain and suffering.

"We will get through the days ahead by doing what we always do in tough times," Mayor Bloomberg told reporters. "By standing together, shoulder to shoulder, ready to help a neighbor, comfort a stranger and get the city we love back on its feet."