NEW YORK ( TheStreet) -- Corporate America is stepping up to bail out those hurt by Hurricane Sandy.
Car company General Motors (GM) 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) and Wal-Mart (WMT) -- 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) and Citigroup (C), 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. Follow @JoeDeaux
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV