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America Prepared for Irene

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  • Description

    Gerald McSwiggan of the U.S. Chamber of Commerce breaks down how the East Coast is recovering from Irene.

  • Duration 3:26
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Irene may not have caused as much damage is expected but is still causing major problems for many.

Businesses big and small here with more is -- next -- and senior manager of disaster assistance and recovery program.

For the chamber of commerce did Gerald and gravy to beard just talk about what you know in terms of how businesses.

Particularly in the northeast where there is flooding and serious power outages how they are being impacted.

-- out well.

That the good news is as you said thankfully hurricane -- reading was less impact full then all what a lot of people were fearing.

It did the other good news is that business is prepared.

For this hurricane extremely well better than what we've seen in the past.

So we saw a lot of businesses -- -- Buying generators boarding up windows X that are with that said there still are some impacts in what I'm seeing is impacts in in three major.

Areas that the first is with the power loss some businesses that don't have generators.

Need that power back on in order to get the business back up and running again.

The second is the travel and tourism sector a lot of -- -- areas that hurricane Irene impacted were traditional travel destinations and so that.

That sector is impacted and the third is the retail specially with back to school sales the retail industry has been effect on revenues him.

But retail they can make it up can -- not because again it was that -- you might if -- one retailer loses business on another might gain say from.

Brick and mortar and online and they're still days assuming they can -- these retailers can -- They're still days.

That they could make up -- sales right.

Yet -- the economics and is that in the disaster are very interest in because if if sales certain.

Our our down in one place -- can be done another some big business is actually.

Gain in disasters mean if if you look that.

-- -- stores with the with this with the shelves completely bare all those translated to sales and into some of those.

Industries.

And and businesses can be positively affected.

So.

So what we're not too concerned about that.

Buy -- that that there was still revenue in.

You talked about better preparation ahead of this disaster but what about insurance.

Ultimately that is what if if business issue if you business an eruption if you -- damage done to a business isn't that one of the most critical things and our most businesses properly insured.

Well no most businesses are not properly insured with which is a big problem with getting back from disasters insurance is it is a key component to coming back.

But there are other resources available to businesses including a Small Business Administration they have a number of loan programs.

Which are available for business says local chambers of commerce will establish.

Business recovery funds and some gap financing to help businesses so there are number of resources are available and I just -- to say.

-- if the small businesses that have been impacted if they need help navigating what resources are available to them.

The US chamber of commerce has a partnership with the Office Depot foundation.

To have the help desk and so businesses can call that helped us for assistance and that number is 888.

My -- -- is help.

Which is 8886924943.

Jerrold thank you for that good -- with the economics weekend with the US chamber of commerce.

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