This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Companies Give Money, Cars and Water for Hurricane Relief

NEW YORK ( TheStreet) -- Corporate America is stepping up to bail out those hurt by Hurricane Sandy.

Car company General Motors (GM - Get Report) said today it would donate 50 Silverado trucks and Express cargo vans to the American Red Cross to use in recovery efforts across the East Coast. Swiss food company Nestle delivered pallets of water, Red Cross spokeswoman Anne Marie Borrego said.

Some companies donate $500,000 to the Annual Disaster Giving Program -- including Lowe's (LOW), Home Depot (HD - Get Report) and Wal-Mart (WMT - Get Report) -- that the humanitarian organization uses in the event of disasters such as hurricanes.

"It is during disasters like this that we all need to pull together as a country, and Chevrolet has a role in that," General Motors CEO Dan Akerson said in a statement. "Making these vehicles available quickly where they can do the most good is something we can do right now." The carmaker said its GM Foundation donated $250,000 to the Red Cross for relief efforts.

In New York, Hurricane Sandy led to the deaths of 10 people, flooded subway tunnels, triggered a fire that burned to the ground several dozen homes in the borough of Queens and left almost 1 million people without power.

The Red Cross' Borrego said Bank of America (BAC - Get Report) and Citigroup (C - Get Report), two companies that donate to the annual fund, already have given additional contributions, without disclosing the amounts.

President Barack Obama and Republican nominee Mitt Romney each emailed supporters and asked them to pledge money to the American Red Cross to help hurricane-relief efforts.

Donation records from foreign countries to the American Red Cross weren't immediately available.

-- Written by Joe Deaux in New York.

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
BAC $15.41 0.13%
C $51.62 0.19%
HD $113.13 -0.42%
GM $36.74 -2.03%
WMT $80.71 -1.87%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs