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Business lessons in wake of Katrina

Strategic management of assets, expenses helps avoid the worst

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Our hearts and prayers go out to all of those whose lives have been impacted by Katrina. What lessons can we learn from this disaster? The tendency is to think is, "It can't happen to me." The truth is this type of event can happen anywhere. It could be a tidal wave, an earthquake, a hurricane, tornado, flood, volcanic eruption, blizzard, or even a nuclear terrorist attack. For those who live through this type of event, the trauma is so great that it may be months or years before they will sleep normally. The emotional scars will last the rest of their lives. In terms of Katrina, no one knows yet how many people will be taken ill with bacteriological and mosquito-borne illnesses. It will take years to rebuild what has been lost and there's no guarantee when the next cataclysmic act of nature or terrorist event could take it all away again. The magnitude of Katrina is so great that it will impact you in ways you may not expect. Barges cannot carry food from the Midwest down to the gu...