East Coast braces for ’$1B’ storm as Hurricane Sandy barrels through Bahamas

Emergency management teams and utilities along the East Coast are bracing for what could be a $1 billion punch as Hurricane Sandy’s 100 mph winds barrel toward the heavily populated region between the Carolina coast and Cape Cod. The Category 2 storm, which has killed two in the Caribbean as it swept through Cuba and blew toward the Bahamas, may combine with other, rain-heavy weather systems to create what meteorologists are calling a "perfect storm" that could wreak havoc from North Carolina to Massachusetts early next week. Sandy will likely maintain its hurricane status as it passes over the Bahamas later Thursday and may bring tropical storm conditions along Florida’s southeastern coast by early Friday.