The old station tracks took in only 3 to 4 feet of water, but there was no long-term component damage.

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Jude Medical (nyse: STJ - news - people ) failed because of susceptibility of a component to damage caused by cosmic rays.

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Accounting for the property damage component is straightforward.

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Japan's stocks lost 17% in 2011 in the wake of March's devastating tsunami, which saw 20, 000 lives lost and affected manufacturing of some of the world's most vital component suppliers, not to mention severe damage to the country's energy sector, including a nuclear meltdown at the Fukushima Daiichi plant.

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Fraud was a material part of the mortgage collapse, a big factor in commercial property and loan losses and a component in investment banking and private-equity losses that did more damage than acknowledged.

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As the hard disk drive and drive component companies start to get back into their factories to access the damage there will undoubtedly be a lot of facility cleanup and repair and likely replacement of some expensive capital equipment particularly when this equipment was on the first floor of a flooded building.

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