Aiding in the post-Sandy recovery
Companies led by Business Roundtable-member CEOs are taking the lead in aiding in the recovery from superstorm Sandy's destruction.
Bloomberg covered the efforts today, "Corporate Good Deeds After Wal-Mart Wins Officials Praise":
Companies like Wal-Mart Stores Inc. (WMT) that opened their wallets to relief efforts almost before Sandy’s floodwaters had fully receded have won the heartfelt thanks of elected leaders working around the clock to improve their communities’ lives.
Wal-Mart joined JPMorgan Chase & Co. (JPM) and Walt Disney Co. (DIS) in offering more than $1 million last week to aid victims of Hurricane Sandy...
JPMorgan has promised as much as $5 million in charitable donations to the American Red Cross and local agencies aiding in the recovery efforts, as well as as much as $5 billion in reduced cost loan assistance for small and medium sized business affected by the storm. Disney committed $2 million.
Citigroup Inc. donated $1 million to the American Red Cross and announced it is suspending foreclosures in the affected area and waiving various bank fees.
While no doubt an incomplete list, these other examples of post-Sandy corporate genorosity recently crossed our desk.
News release, "UPS Pledges $1.5 Million in Aid to Storm Recovery Efforts": "The determination and caring spirit of UPSers has never been more evident," said Scott Davis, UPS chairman and CEO. "The UPS team has answered the call and everyone involved is going above and beyond to bring relief and hope to those impacted by the storm."
News release, "FedEx Pledges $1.2 Million to Support Northeast Disaster Relief": “FedEx team members around the globe are deeply saddened by the loss of life and devastation caused by Hurricane Sandy,” said Frederick W. Smith, chairman, president and CEO of FedEx Corp. “We will continue to work closely with several humanitarian and disaster relief organizations to assess the needs across the northeast and provide support to the areas hardest hit by the storm.
WGRZ TV, "PepsiCo, Wal-Mart Donate to Sandy Relief Efforts": Walmart donated six trailer truck loads of 60 pallets of dry food and beverages, 5,895 cases of cleaning supplies and 2,051 board games. ...PepsiCo donated five trailer truck loads of beverages and three trailer truck loads of snacks, totaling more than 100,000 cases of snacks and drinks."
News release, "Norfolk Southern aids in Hurricane Sandy recovery efforts": "Our message to those who have lost so much and who are suffering due to this unprecedented natural disaster is that Norfolk Southern stands with you," said CEO Wick Moorman. "We cannot fully know what you are going through, but as our employees, customers, suppliers, and neighbors, you have our support."
In this Bloomberg TV interview, Southern Company's CEO Tom Fanning notes that the Atlanta-based power company has dispatched 2,400 employees to help with restoring power in the damaged areas.