Houston Finds Business Boon After Katrina

[beetbox]

Houston Finds Business Boon After Katrina

By SIMON ROMERO
Published: September 6, 2005

HOUSTON, Sept. 5 - Perhaps no city in the United States is in a better spot than Houston to turn Katrina's tragedy into opportunity. And businesses here are already scrambling to profit in the hurricane's aftermath.

Oil services companies based here are racing to carry out repairs to damaged offshore platforms in the Gulf of Mexico; the promise of plenty of work to do sent shares in two large companies, Halliburton and Baker Hughes, soaring to 52-week highs last week. The Port of Houston is preparing for an increase in traffic as shippers divert cargoes away from the damaged ports of Pascagoula, Miss., and New Orleans.

All this, of course, is capitalism at work, moving quickly to get resources to where they are needed most. And those who move fastest are likely to do best.

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"It feels like the only things left in south Louisiana are snakes and alligators," said John E. Olson, co-manager of Houston Energy Partners, a hedge fund that operates out of a skyscraper downtown. "Houston is positioned for a boom."

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"I always hate to talk about positives in a situation like this, but this is certainly a growth business over the next 6 to 12 months," said Geoffrey M. Hertel, Tetra's chief executive. By Friday, Tetra had been able to send an 800-ton barge it owns, the Arapaho, to the gulf to be used for platform repairs, Mr. Hertel said.

http://www.nytimes.com/2005/09/06/business/06goldrush.html?hp&ex=1126065600&en=68de793662f4d45a&ei=5094&partner=homepage

[jwirr]

1. One of the interesting things about economics is that

a disaster clean up is counted as positive in the growth of financial activity. The cleanup of the New York site was added to the growth rate and I am assuming without subtracting the lose?

[beetbox]

3. Some see

destroyed lives, suffering and our hearts go out.

Others just see the dollar signs. how can you not be cynical when you read a story like this. The vultures are circling in their pinstripe suits.

[Demeter]

2. Wait Until The Social Fabric and Welfare Costs Go To Hell

then Houston won't be able to evict the refugees fast enough. How can you profit from displace people, save by killing them off and getting paid for the funeral costs?

[Rose Siding]

4. HoustonChron: Eventually, someone will point out discreetly...

Eventually, someone will point out discreetly that most of our potential new residents vote Democratic.

http://www.chron.com/cs/CDA/ssistory.mpl/front/3340927

;)

[Bridget Burke]

5. KHOU TV had a "call in" show about Katrina's effects on Houston.

A few of the callers were whining about the local job market being adversely affected. And about stress on our underfunded schools (without blaming our Governor & Leg who have already starved them).

The Mayor did point out that there would be non-adverse effects on the economy. These did NOT appear to be his motivation for organizing our relief efforts. But they are good answers to the "but what about US?" crowd.

Evacuee children will attend local schools without immunization records--understandably. One woman complained about dangers to our students. Nobody pointed out that if OUR students have had their shots, they are in no danger.

[iverglas]

6. it's an amazing thing about helping people who have nothing

Spend some money to help them -- or give them some money to spend to help themselves -- and everybody benefits.

In Ontario, Canada, when a right-wing provincial government slashed public assistance benefits and rolls, inner-city retail merchants began whining about loss of business.

Duh. Who did they think had been the source of their revenues all those years? Give a poor person a dollar, and they'll spend it on goods and services in the community. Give a rich person a tax cut ...

Trickle-up economics actually works.

[moobu2]

7. I wonder how much Cheney will personally profit from this

I know all his stock options and interest in Halliburton is in a trust but big deal, It’s still making money for him.