U.S. Chamber applauds Wall Street?s in opening delay

A further delay in opening New York's Wall Street is a good idea, according to Thomas Donohue, United States Cham-ber of Commerce president and chief executive officer.

"No one understands the importance of the stock market more than American business but reopening it right is more important than reopening it fast," Dono-hue said.

News reports continue to state that the financial area's electricity and telephone grids remain impaired after Sept. 11's terrorist attacked that destroyed the World Trade Center.

Other buildings in the area also have collapsed, hampering repair work as well as rescue efforts.

"Until rescue teams give the go-ahead and telephone and electric system reliability is restored, any opening bell would be premature," Donohue continued.

"It is important that we do whatever is necessary to ensure a smooth restart to the U.S. stock markets, and not make decisions based on the clock or the calendar."

Communications grid

A significant portion of lower Manhattan's communications grid remains down, and electric service to the area hasn't been completely restored.

Both systems are integral parts of the stock exchanges and must be fully functional before the markets are reopened.

"Tuesday's terrorist attacks hit a number of buildings and destroyed an unimaginable number of American families, but the terrorists failed to hurt our freedoms or our economy," Donohue said.

"Production facilities, manufacturing plants, the service sector and Main Street businesses continue to drive our economic engine onward. And our national spirit resides in our hearts and not in our buildings."