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Patrick Egan, CRE Exec. V.P., Director of Commercial Sales and Leasing Katrina Adventure Our Not So Excellent.

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Presentation on theme: "Patrick Egan, CRE Exec. V.P., Director of Commercial Sales and Leasing Katrina Adventure Our Not So Excellent."— Presentation transcript:

1 Patrick Egan, CRE Exec. V.P., Director of Commercial Sales and Leasing Katrina Adventure Our Not So Excellent

2 Forecast - Thursday, August 25

3 Thursday, August 25

4 Forecast - Friday Morning, August 26

5 Forecast - Friday Afternoon, August 26

6 Forecast - Saturday Evening, August 27

7 Sunday, August 28

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10 Monday, August 29

11 New Orleans Levee System

12 Levee Breaches and Flooding

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14 Storm Aftermath

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18 Days following storm No electricity, water in entire city No local radio/TV broadcasts No cell phone service anywhere w/504 AC Agents scattered Baton Rouge business explosion Great uncertainty as to timeline for return

19 Steps taken Emergency Yahoo.com address posted to web Web was initially primary communications source Assembled roster/contacts/message board Baton Rouge office became new communications center once power restored -added desks/wireless internet – server reset to B.R. in 48 hrs. B.R. became home for next two months Monitored New Orleans situation-arranged trip back in

20 Storm Aftermath Three of our branch residential offices destroyed Several staff and agents didn’t return Latter & Blum returned to metro New Orleans Oct. 17 Returned to our downtown offices Jan. 9. Moved again in March of the following year to our current building

21 September 9th

22 Storm Aftermath Paratroopers from Bravo Company, 2nd Battalion, 505th Parachute Infantry Regiment, 82nd Airborne Division, patrolling Bourbon Street.

23 Storm Aftermath

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26 New Orleans Today 76.4 % of pre-Katrina residences actively receiving mail in Orleans Parish, a 4.3 % increase from last August % of pre-Katrina residences actively receiving mail in the metro area, a 4.3 % point increase from last August. The New Orleans metro area lost only 0.9 % of total jobs since last June compared to a 4.1 % loss for the nation. Compared to the 100 largest metros, New Orleans had the sixth lowest unemployment rate in the first quarter of 2009.

27 Still many questions regarding new flood maps, levee repairs, rebuilding plans Floodgates have been built at three canals

28 Source: Latter & Blum Commercial Division

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30 ELMWOOD YEAR END RESULTS Source: Latter & Blum Commercial Division

31 Greater New Orleans Area Gross Industrial Absorption Source: Latter & Blum Commercial Division

32 HYATT REGENCY – AFTER KATRINA

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34 Source: PKF Consulting

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36 French Quarter Hotel Statement of Actual Revenue and Expense Years-Ending

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