Faulty reasoning signals

• Confirmation Bias - 4.9% (19 hits)
• Anchoring Bias - 0%
• Availability Heuristic - 11.4% (44 hits)
• Representativeness Heuristic - 4.7% (18 hits)
• Hindsight Bias - 0%
• Overconfidence Bias - 19.2% (74 hits)
• Framing Effect - 9.6% (37 hits)
• Loss Aversion - 0%
• Status Quo Bias - 3.6% (14 hits)
• Sunk Cost Effect - 0%
• Optimism Bias - 17.4% (67 hits)
• Pessimism Bias - 8.5% (33 hits)

Article text

High-rise collapse fears in New York

This morning, the rush to stabilize a building under construction in Midtown Manhattan after support columns buckled, sparking fears of a catastrophic collapse.

>> We have columns partially down on 21 and 22, and we have floors sagging between 21 and 26.

>> The first call came just before 8:00 a.m. Tuesday for bricks falling from the building.

Workmen noticed the buckled columns, multiple cracks, and the floors beginning to sag.

This video, obtained by ABC News, shows some of the warped metal.

>> We have some 40-year members on that job who have never seen an I-beam bend in half.

That That's not supposed to happen.

>> No.

>> No. That's not supposed to happen.

>> Construction workers evacuated, then neighboring buildings, including two hotels, offices, and a school emptied.

Streets around the building shut down.

Bumper-to-bumper traffic stretched for blocks.

For a time, the compromised building appeared to lean.

>> The way this building is constructed, it's a steel-frame building, so it would not be a total collapse.

It would be more of a localized collapse, uh, but that that remains our concern, that it's moving.

>> The building, formerly the headquarters of the pharmaceutical giant Pfizer, is being converted into apartments.

It's the largest such conversion in city history.

The developer said the columns likely bent under the weight of additional floors added to the East Side high-rise.

>> Once the immediate stabilization occurs, they have to look at the other columns around it and and see if they're prone to the same thing happening.

They're probably going to shore more than just the failed column.

They They should shore, uh, you know, everything above to the best they can.

It's It's easier said than done.

This is a very tricky situation.

>> In the last year, the building has logged seven violations from unsafe building demolition to debris falling from high heights, resulting in more than $32,000 in fines.

Overnight, workmen installed new steel columns and expressed confidence the building is no longer at risk of imminent collapse, but it is not yet fully stable, Robin.

Once it is, they'll determine how those columns failed and a long-term fix.

Robin.

>> lot of people want to answers to that.

You're right about that. Aaron, thank you.