1. Small Business Saves the Day
As our long-term readers know well, we here at the Dumbest Lab have always been big game hunters. Granted we take potshots but when taking aim, we generally have large, publicly traded companies or well-known, over-compensated CEOs in our sights -- not small businesses or their proprietors.
Yet since this is a special, never-to-be-repeated version of the column, we decided to break that rule too and focus on the smart decisions made by small businesses in the wake of Sandy's savagery.
And perhaps nowhere could we find a better recap of some of the heroism of small business owners in the face of severe adversity than in an article by TheStreet's own small business reporter Laurie Kulikowski titled, "Small Businesses, Social Media Saved My Town During Hurricane Sandy."In the piece, excerpted below, Laurie recounts some of the devastation in her hometown of Long Beach, N.Y., a coastal community located on a barrier island on the south shore of Long Island. Approximately 30,000 people call Long Beach home, including many Wall Streeters. And here's hoping they all get home safely and soon. This is from Laurie (who we also hope to see back in the office soon!): As I walked around town in shock Tuesday morning, I passed my favorite nail salon, Best Nails, on Park Avenue. The owner and her husband were already inside mopping up water. Top China in Levittown, N.Y., had its gas ranges fired up Tuesday. The owners were without power but cooked as much of their food as possible so it wouldn't spoil. Chinese food never tasted so good. A friend tells me that Smithtown Bagels in Smithtown, N.Y., was open bright and early the morning after the storm. The shop didn't have power but, with a lantern over its gas stove, the establishment was serving bacon, egg and cheese sandwiches to hungry and thankful customers. On Wednesday, when I went back to town to clean out spoiled food from my refrigerator, donate essentials and pack what clothes I could, I saw tow truck companies in Long Beach. The sand hadn't even been plowed yet. One tow truck even got stuck in the sand, the owner working furiously to get it out. One of the few towns on Wednesday that did have power was Freeport, N.Y. Raimo's Italian Restaurant and Pizzeria had its ovens working overtime. As busy as Raimo's was, it took less than five minutes to be served hot and delicious slices. Even though Long Beach is still without power, just yesterday I saw a promotion on Facebook (FB) by the restaurants and bars of the West End that had come together to offer Sunday dinner to residents. From what I can see in the pictures, the 13 establishments used charcoal grills, portable smokers, generators and donated goods to offer free food and drink to those in need. The handful of businesses in this small town define strength and resiliency. Many have talked about how much of life has been put into perspective because of the storm. My biggest insight is that these small businesses, the ones in my town, are key to the survival of communities. Because behind them are regular (and dedicated) people who are keeping them going. As a small-business reporter, I try to spend my money at local shops. As the holiday season starts, I hope others will remember those that helped all of us when we really needed it. --Written by Gregg Greenberg in New York.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV