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The Cost of Hurricane Sandy and the Hope that It Inspires

Posted by Andrew Donahey | Wed, Dec 05, 2012 @ 10:00 AM

Can the cost of a natural catastrophe truly be calculated? Yes and No.

hurricane sandyData on Hurricane Sandy is being synthesized daily by a host of agencies, news outlets and insurers. The numbers are staggering, the physical devastation is mind-numbing, and the psychological effects will long remind those involved of human frailty in the face of Mother Nature. Keep in mind, this happened only five weeks ago and winter is staring the East Coast down hard.

Yes, the cost of natural catastrophe can be calculated. Consider these Hurricane Sandy facts:

  • 24 U.S. states affected, with 131 deaths in 8 states
  • Deadliest mainland hurricane since Katrina in 2005, and deadliest East Coast hurricane since Diane in 1955
  • 265,000 businesses and 305,000 homes were damaged or destroyed in New York alone
  • Car-shopping website Edmunds.com estimates Hurricane Sandy cost 30,000 vehicle sales in October
  • The National Hurricane Center ranks Hurricane Sandy the second costliest U.S. hurricane since 1900 in constant 2010 dollars
  • The federal government has awarded more than $180 million in contracts tied to Hurricane Sandy, the second most for a hurricane
  • Damage is estimated at over $63 billion

Let that sink in for a moment, a silent moment perhaps, dedicated to wishing those affected a speedy recovery and saying thanks to those offering assistance.

No, the cost of a natural catastrophe is not calculable because who among us feels like a number, only to be calculated? None, which is why the only measurement to focus on is the spirit of people and businesses that never give up.

Consider these inspirational efforts, big and small . . . 

  • Hurricane Sandy: Coming Together, a live telethon on November 2 that featured rock and pop stars raised $23 million dollars, and counting, for American Red Cross 
  • General Motors announced a $500 rebate to buyers in the region
  • Young heroes like Lucy Walkowiak and her family donated electricity to power cell phones and even make a cup of coffee for those without Joe
  • The National Association of Home Builders continues to offer its Home Building Industry Disaster Relief Fund
  • Nissan is providing employee pricing to purchasers
  • Disney–ABC Television Group held a "Day of Giving" on Monday, November 5, raising $17 million for the American Red Cross
  • Toyota announced a 90-day deferred first payment program to assist consumers in the region
  • News Corporation donated $1 million to relief efforts in the New York metropolitan area
  • The National Automobile Dealers Association's emergency relief fund is available for dealership employees affected by the hurricane
  • Seven nurses at NYU's Langone Medical Center helped save the lives of 20 premature babies

 . . . and their effects on people and business:  

  • November 2012 was the strongest month of automobile sales since January 2008
  • Reconstruction and related purchases and hiring may range from $140 billion to $240 billion and increase U.S. economic growth by 0.5 percentage point next year, according to The Economic Outlook Group
  • Lucy Walkowiak's pop-up Internet café:
                                     
  • 20 babies, 40 parents, 160 grandparents and countless extended family members, meet the nurses who made these miracles possible:
                                      

Now what? Donate $10 (Text REDCROSS to 90999 to give $10 to American Red Cross Disaster Relief), like I just did and leave a comment letting us know.

 

Topics: Building Materials

Written by Andrew Donahey

Marketing Director Andrew Donahey leads a dedicated group of digital marketing specialists that generates relevant content for the financial services sector. He also collects vintage “anything” and has a Golden Retriever kennel.