This Day On The Street
Continue to site
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

Sandy One Year Later: A Story of Small-Business Regeneration

"Our focus started with Beach 116th Street because with an estimated 74 business spaces, a diverse retail mix, direct access to the beach and A train, and family businesses that have operated on the corridor for decades, Beach 116th Street is uniquely positioned to lead commercial revitalization in the Rockaways," Weber adds. "If revitalization starts with Beach 116th Street, the idea is that neighboring corridors will follow."

The Rockaways

Speaking of the Rockaways, Madelaine Chocolate Company, a family-owned and run chocolate manufacturer in Far Rockaway, Queens, just opened its doors on Tuesday. As the largest employer in the Rockaways before the storm, with 450 employees, 14 molding lines and eight production kitchens in operation, Madelaine Chocolate was and is essential to the area's economy.

But even for a company as large as Madelaine, with many more resources available to help it re-open, the process was just as excruciating.

"A year ago I wasn't sure if we would be here today," CEO Jorge Farber told TheStreet in an interview earlier this month. He estimated the company's storm damages at around $50 million between equipment, inventory, repairs and working capital.

"What we've learned is we're very resilient," Farber says. "This was a test you either came out with hands up over your head or you fight it."

"We still have a lot to do in rehabilitating our equipment and some of the properties to bring employees on," Farber says. "We're learning to look one step at a time, a machine at a time, bringing a couple of employees back a day at a time and that's how you get up the next day."

After being closed for nearly a year, the company has hired back just a quarter of its employees, but Farber hopes he will be able to bring all of the staff back eventually. Right now five of the 14 production lines are in operation. The company is targeting 2013 sales at half of what it was bringing in before the storm.

"I'd love to get everybody back. I don't know how long it will take. The question is of resources to be able to rebuild. It was a huge financial loss as well," Farber adds. "All of our inventory was devastated. The equipment was destroyed. Hundreds and hundreds and thousands of dollars just to clean the place and put the lights on, which happened five weeks after the storm."

5 of 7

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $118.30 0.42%
FB $104.24 -1.15%
GOOG $742.60 -1.02%
TSLA $230.26 -0.58%
YHOO $33.81 2.64%


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs