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M5A1: —The Case For, or Against, New Orleans

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Business

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Homework

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Running head: THE CASE FOR, OR AGAINST, NEW ORLEANS 1
The Case For, or Against, New Orleans
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THE CASE FOR, OR AGAINST, NEW ORLEANS 2
The Case For, or Against, New Orleans
This paper will consider assessment in order to recommend whether or not to rebuild
New Orleans city. This will be done through close examination on the cost to benefits of this
kind of rebuilding as well as the impact and benefits that will be realized upon rebuilding the
city. The cost of rebuilding New Orleans city to pre Katrina In the CBA, I will be examining the
cost that will be incurred in rebuilding New Orleans to pre Katrina condition will be examined
the CBA in which there will be no additional infrastructure and levees upgrade (Wooten, 2012).
To assess for the benefits of rebuilding the New Orleans city, I will compare and contrast
the pre Katrina data with the post Katrina data with the aim of unveiling the benefits of losses
recovered. Most of the losses were recuperated instead of considering them bad debts. The
money that was using on tourism, taxes and wages were recovered. In this paper, our main focus
will be on risk management, the scenario models that will be used and the decision tress which
can take part in making healthy decisions.
The city was symbolized as a major role player in the country’s economy. Before the
hurricane hit the city it had a great weather condition and there were many festivals conducted
yearly. The revenue generating pillars were the transportation, the mining’s and warehouses.
New Orleans done its business through port, we can say that it is the most famous port with
respect to the business compared to other international ports throughout the world (Effects of
Hurricane Katrina, 2012). Furthermore, many schools and colleges play their roles in educational
sector and also the city was taking care of their cultural. It had a diverse culture because several
nationalities like French, German and Spanish contributed to mixed culture. The most interesting

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THE CASE FOR, OR AGAINST, NEW ORLEANS 3
point was the low unemployment rate. The situation was horrible early on, the states leads in
poverty, poor school systems, and high crime rates plagued New Orleans. Out of almost a half a
million citizens of New Orleans 27% lived in poverty, 47% of the schools did not meet national
standards, 67% of the population was black, and the homicide was ten times higher than the
national level (Wooten, 2012). Twenty-five percent of adults did not have their high school
education (Shafer, 2005). Insurance policies that were written for the region were not up to par.
For building units there were policies in place for $250,000 and $100,000 for personal property
(Shafer, 2005). When Katrina hit the devastation was extensive for the population. The buildings
were not suited for a hurricane much less anything to such an extent. Most of the properties were
built post 1949 with most of the properties residential and business not being insured with flood
insurance.
New Orleans was not as strong financially as we thought. Even though tourism was such
a big attraction as we see from the earlier summary the cities weekly wage was below the
national average. Most of the wages resulted from of tourism, restaurant industries as well as the
numerous colleges. From 2000 to 2004 New Orleans population declined by 23,000 and 16,000
jobs were lost (Effects of Hurricane Katrina, 2012). If this staggering statistic was not enough
Katrina hit in 2005 and which left the city in ruin.
Katrina hit many southern cities. Louisiana, Texas, and Mississippi were all hit but the
most damage occurred in New Orleans. With the city mostly under sea level this presented much
of the problem. The majority of the city was flooded. More than $200 billion dollars in damages
were estimated. The loss of life, property, and business were devastating on New Orleans. This

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