The cost from the damage of hurricane Harvey is estimated to be somewhere around $190 billion or more and it's been labeled as the worst natural disaster in the United States. Market analysts suggest that the tremendous amount of damage that this hurricane has caused is likely going to impact the decision of the Federal Reserve to move ahead with their next planned rate hike.
The storm is said to have shut down at least 12 refineries and two of them happen to be the biggest in the country. It's also led to the closing of ports and pipelines, and caused damage to water systems, and more. Thousands of people have lost all of their belongings and they are living in shelters at this time. Insurance companies are going to be overwhelmed and it could be many years before people see any reimbursement for the assets that they've lost. Retailers are estimated to lose around $1 billion in sales.
Weather forecasters seemed to be highly efficient in their warning of the storm, but there is much criticism over how local officials in Texas handled the situation; mixed messages over the orders that people were given.
Those who had the means to, did take the opportunity to get out of town before the storm got worse. For others who were sick, pregnant, didn't have the funds or means etc, they weren't left with many options. And there have been thousands of volunteers flooding in from neighboring areas, looking to help in any way that they can.
Business Response
Home Depot was one of the businesses who had jumped into action as soon as they heard the storm warning and they immediately established a temporary hurricane command center in Atlanta to help in whatever way that they could. Managers at the store were instructed to move things like chainsaws, generators, and plywood etc, to the front of the store. They also sent out hundreds of trucks that were loaded with supplies, to various stores in the Texas area that were expected to be hit by the hurricane.
Throughout the duration of the hurricane, Home Depot was sending their trucks out that were stocked with a variety of equipment and recovery products, to help those who were in need. Home Depot crafted their own emergency disaster response plan and that plan was activated when they received the warning about Harvey. They've been working on this plan, perfecting it through trial and error, over many years and the objective with that plan is to ensure that they can continue delivering needed goods to areas that might be affected.
They couldn't very well rely on the government to tell them what to do, how to get the goods to where they need to be, because those agencies are overwhelmed with their own responsibilities at the moment in trying to help those in the areas affected by the storm. The response plan that Home Depot took the time to create has already proven valuable and it might inspire other businesses to take note of it and then develop their own disaster response-plan for such a scenario; if they haven't done so already.
Home Depot insists that with each natural disaster like this that hits, it affords them the chance to exercise their emergency disaster plan and they say that over time they've only gotten better and faster at responding when these events occur.
Another company that jumped into action was TekDry and they provide cellphone drying services that can help to repair phones if they get damaged by water.
The company jumped into gear by sending one of their trucks on a 15 hour drive to help those in Texas and start bringing phones back for people there who need them. The company is now offering free services to those in the affected areas throughout Texas and they've set up mobile charging stations as well in the area.
Delivering Pizza Via Kayak
Pizza Hut wasn't about to let the storm stop them from getting pizza to those who were hungry, so they took to delivering the pizzas on a kayak. After Pizza Hut heard that there were people in the area who were hungry and having to go without food, they responded by cooking over 120 pizzas to give out to those in need.
They said as long as they don't run out of ingredients, they plan to continue making pizzas and trying to get them to those in need.
Walmart is another corporation that has been quick to respond to the disaster, by sending out 1,000 trucks full of supplies to help those in the area; including purchasing roughly 2,000 kayaks to help those in need.
And Home Depot, TekDry, Walmart, and Pizza Hut aren't the only ones, there are many companies that are getting involved in trying to help those in need and it's inspiring to witness this sort of human action.
Pics:
Reuters / NOAA NOAA via qz.com/1062300/hurricane-harvey-what-is-the-path-and-when-will-it-hit/
Erich Schlegel / Getty Images via nbcnews.com/storyline/hurricane-harvey/how-many-billions-damage-will-harvey-cost-s-anyone-s-n797521
Getty Images / Scott Olson via ibtimes.com/hurricane-harvey-floodwaters-contain-alligators-fire-ants-disease-2583989
Shayda Habib via chron.com/news/houston-weather/hurricaneharvey/article/Sugar-Land-Pizza-Hut-workers-deliver-food-to-12162025.php
Sources:
http://www.marketwatch.com/story/hurricane-harvey-could-cost-190-billion-be-worst-ever-us-natural-disaster-says-accuweather-2017-08-31
https://www.usatoday.com/story/tech/2017/08/31/hurricane-harvey-cell-phone-drying-company-drove-1-000-miles-rescue-wet-phones/620445001/
https://www.theatlantic.com/business/archive/2017/08/harvey-economic-impacts/538353/
http://fortune.com/2017/08/31/home-depot-hurricane-harvey-damage-impact/
https://www.lewisvilletexan.com/news/news/local-news/prices-up-some-gas-stations-running-low-due-to-harvey-impacts/
http://home.bt.com/news/news-extra/pizza-hut-is-delivering-food-to-hurricane-harvey-victims-by-kayak-11364208387344
http://www.chron.com/entertainment/restaurants-bars/article/Restaurants-chefs-rally-to-help-feed-those-12159650.php
http://www.tampabay.com/news/weather/hurricanes/former-st-petersburg-chef-feeds-thousands-affected-by-hurricane-harvey-in/2335451
http://5newsonline.com/2017/08/29/walmart-helps-victims-of-hurricane-harvey/
http://www.rollingstone.com/culture/news/hurricane-harvey-disaster-relief-how-to-donate-volunteer-w500267