Hurricanes Blow Through U.S. Economy: Cars, Drugs, Phones, Food
The silhouette of a truck is seen submerged in water at a trailer park flooded by Hurricane Harvey in Rose City, Texas, on Sept. 6. Disaster is fueling a growth industry as more frequent and powerful storms lash coastal regions teeming with new homes and offices.
Photographer: Luke Sharrett/BloombergHurricane Harvey flooded Houston. Irma blew all around Florida. Then Maria devastated Puerto Rico. In addition to the dozens killed by the storms and millions of lives uprooted, there were an array of effects on companies — much damage, but also many opportunities to get busy cleaning up, making repairs and trying to get life back to normal. The effects are still rippling through corporate earnings, as with Tuesday's reports from companies including Royal Caribbean Cruises Ltd. and Avis Budget Group Inc.
When Harvey hit Houston in late August, it stunted that month’s sales of new cars and trucks — what else would be expected when the seventh-biggest U.S. population center is shut down by rain by the foot?