Long-Term Forecast Hazy For Katrina-Hit Businesses
By Marius Meland
Law360, New York (March 23, 2006, 12:00 AM EST) -- Six months after the most expensive catastrophe in U.S. history, lawmakers say they are doing their best to help small businesses and taxpayers affected by Hurricanes Katrina and Rita stave off bankruptcy. But with funds drying up, for companies doing business in the area, the financial outlook seems even murkier.
Last November, a study by Experian that examined the effects of Katrina on 635,000 businesses found that the hurricane's impact on cash flow and outstanding debt had significant implications on the local economy and suppliers depending...