This post is a combination of two articles I found which both revolve around Hurricane Katrina and insurance claims. I took a small excerpt from both (the essentials), and posted the URL so if you so choose you can read the article in its entirety online.
1. The first: $2.8M Katrina verdict against Allstate
"NEW ORLEANS - Allstate Insurance Co. must pay a Louisiana man who lost his home to Hurricane Katrina more than $2.8 million in damages and penalties, a federal jury decided Monday in a case that hinged largely on whether it was wind or storm surge that wiped out his house."
2. The Second: In New Orleans, a lesson in business and hope
http://www.latimes.com/news/nationworld/nation/la-na-mba29mar29,1,4971841.story
"With the assistance of the Idea Village, a nonprofit that has provided scores of local businesses with technical support, contacts and capital, the students — 15 in all — have adopted several enterprises, among them the Community Book Center. Their mission is to show the businesses ways to grow and sustain in post-Katrina New Orleans.The storm destroyed or financially hurt more than 80% of the 12,695 small businesses that were in Orleans Parish before Katrina, local business officials said. The few that have reopened are struggling to stay afloat with fewer customers, reduced profits and higher labor costs.The Stanford students think they can use their college training to help the small-business owners maximize their potential in the face of post-storm challenges."Education is what you learn in the classroom," said Daryn Dodson, 27, who organized the student group. "It doesn't mean anything until you apply it practically."
New Orleans is still in an poor situation economically, although could we expect different? The first article I found, was the $2.8M verdict from Allstate. After reading the entire article i found that numerous other people are awaiting verdict from the courts on similar claims. Should the client have been awarded $2.8M, while numerous others are sleeping on the streets while Allstate battles it out with a single home owner??? That was just a little food for thought, now on to the economics of Hurricane Katrina. What the Standford students are doing is what New Orleans needs...more business. They need to be able to regrow as to support themselves as the city they are. The best way to help them rebuild is to show the businesses how to grow, to attract new people to New Orleans, and to support themselves economically. What better way to help the economy than through the use of human capitol (including the educated Standford Students).
3 comments:
Human capital will definitely be the way to help New Orleans. They need a lot, and that's not even counting clean up issues. Advertising, for one thing, to show that they are safe and it's a great city, etc.
Terrific idea!
What the college students are doing in New Orleans is awesome! It will really help the city get back on its' feet. Human capital is the way to go. They will probably also help clean up the city to make it look more appealing to travelers and other people.
Before the Hurricane New Orleans still had the image of a southern city with high poverty rates. Only Mississippi has higher children poverty rates.. in Lousiana its almost half!! And in New Orleans alone almost 30 percent of the people were below the poverty line before Katrina! Before when most people wouldthink of the Big Easy they thought Marti Gras, glamour, lights... I think Katrina unfortunately has opened peoples eyes to what it is really like. I really hope that all the people helping rebuild New Orleans can put the city at a more prosperous economic level than it was before
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