Thursday, August 25, 2011

A Costly and Profitable Weekend Ahead

Insurance companies active in the eastern states are bracing for a round of natural fury from Hurricane Irene.As well,parts of the retail sector in the region could suffer from a relatively rare direct hit from this type of storm on the big cities of the northeast,as people shelter in place instead of shopping at malls and department stores or are even evacuated.Ocean City,Maryland and other eastern beach resorts are already evacuating guests and closing to new visitors.It's the first time since Hurricane Gloria in the 1980s that Ocean City was evacuated.
Some stores,however,such as hardware and food retailers,will benefit as citizens augment emergency supplies.One New York City woman bought 100 dollars worth of batteries.Bottled water and milk were other top sellers there.Home Depot ran out of flashlights.Mayor Michael Bloomberg recommended preparing go bags,which contain your medications,important documents and so on,should you face evacuation.
Hospitals are topping off generators with fuel,and citizens are also filling up their tanks,even as refineries may have to close.A spike in gas prices could result.
Home Depot prepositions containers full of disaster-related products at its distribution centers.When needed,they are simply rolled into semis for transport to the affected areas.Disaster operations are directed in consultation with district managers from a war room of sorts,complete with big screen newscast monitors.There are Home Depot staff members who are dedicated to disaster retailing.
Some 200 miles west of Ocean City,along the Blue Ridge Mountains,there was a good deal of rain Saturday evening,but little wind.Power went down several times for an instant,requiring the annoying resetting of digital clocks-except for one with a battery backup.The most striking visual of the day had been the rapidly moving low, dark clouds,showing that there was considerable energy aloft.There weren't any sirens going off,but there was just enough of a touch of weather history to make it an unusual-feeling day.
Home Depot(HD),Lowe's(LOW)

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