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Earthquake Threatens Japanese Life, Infrastructure and Economy

HONSHU, JAPAN-The 8.8 magnitude quake, which occurred early this morning is cost the country hundreds of thousands of lives and billions of dollars in damage, in the midst of a fragile economic recovery.

By Ryan Clark | Updated on March 11, 2011

HONSHU, JAPAN-A massive 8.8 magnitude earthquake spread from the epicenter here sending deadly tsunamis as far as Crescent City, CA and rocking Japan. The number of casualties from the earthquake are still coming in, with recent estimates in the hundreds of thousands. In an Associated Press report, David Applegate, senior science advisor for earth and geologic hazards for the US Geological Survey notes that there is likely tens of billions of dollars of structural damage in Japan caused by the quake. In light of Japan’s delicate recovery, there is a threat of reigniting their recession, as well.

A spokesman for Prologis notes, “All of the Prologis associates in Japan are safe, which we are happy about. With respect to our facilities and customers, most of them are fine with some reports of minor damages.” Prologis also notes that their customers that they have contacted are fine and “Fortunately we have some quick acting teams on the ground and we have superior earthquake protection built into our buildings, so both of those things have mitigated much of the damage that would have happened otherwise.” A spokesperson for AMB, which recently announced a merger with Prologis, once they have confirmed damages and can get back on the ground in Japan, will look to institute a relief effort for its employers, customers and region.

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