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Continuity Dynamics president Ralph Petti on risks associated with Hurricane Sandy and big storms.
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We'll have more with you later on this afternoon -- for more -- -- right now Ralph petty continuity dynamics president joins me now seeing you advise businesses.
-- on how to prepare for these storms what are you telling your clients right now.
-- -- our clients -- just keep an eye and things and don't overreact right now we've got a good 48 to 72 hours to really watch attractive storm.
And when they make a decision maker with the best possible -- May as well but they've got a they've got -- concern now mean one of the things that you point out to your clients is that the -- got to look at the supply chain they've got to be prepared.
If their business is indeed shut down affected they've got to manage their employees so what do you say had a.
Well -- the experts have to take over the human resource organizations the -- departments those people that do that every single day.
Have to know what the factors are they have to know what needs to be done in terms of of their own planning for -- organization.
And the supply chain in the critical suppliers need to step up -- be honest about what -- capabilities just.
There's not -- -- be employee issues Armenia and as -- was shot in the world looking at that -- does not mean this thing is really heading for a very populous part of the United States.
How much disruption do you think we can expect as well.
Like in previous storms including some of the ones we've had in recent years communication transportation.
If folks are trained to work at home in companies that do the due diligence and testing and they test from home.
It -- indication I was -- that's a problem.
Okay but that but we're working from home as a viable option it's a viable option is for an -- of the business maybe they should take that it.
Okay okay let's talk about the cost the overall cost because of course businesses have insurance.
But that's not gonna cover everything how to -- financially prepare for the impact of say.
They -- case we work with what they have best if someone has resources of another facility they don't have to land renter or buyer or share another facility so they do their planning ahead of time leveraging all the internal resources they have worked with their insurance companies kill whatever resources they need ahead of time wind up.
Make certain commitments and serviced loan agreements -- make sure they're able to -- for.
Insurance company is a key part in a key line of communication for a business owner small.
Yeah -- larger point -- the cost of these storms because we've been looking at the economic impact of storms like kind of want to gauge.
What you kind of what kind of business that economic impact we're gonna have a -- -- -- -- -- -- become the costliest US hurricanes Katrina.
Obviously was number 145 billion dollars took years for New Orleans.
Much recover and -- Andrew 43 and a half billion dollars I Wilma.
Read up we tell your clients right now about sandy what do you think it's gonna rank and that list well I think.
Think it's gonna be over a billion dollars -- policy consensus organizations as saying.
Including fox however the New Orleans is this a very unusual circumstance is irritable and the people didn't have a lot of ways to get out of -- ten or to evacuate certain areas along the East Coast you've got a number of major highways route forty -- -- Up and down the coast of people can evacuate move inland a little bit.
I think the greatest concern could be the projected target of the consensus right now is -- it was approached land and maybe make landfall around southern New Jersey in the late Monday to early Tuesday evening timetable.
And then the people who -- there inland won't have to party you know have to really to got a way to go from there.
OK so it's going to be that travelers have tonight highly disruption is a big piece of how businesses are going to be at a -- okay Iraq.
Or rough patty thank you very much community dynamics president appreciate -- -- thank you very thank you -- -- to be here.
