Tuesday's Harvey coverage: Businesses take stock of storm damage | Crain's Dallas

Tuesday's Harvey coverage: Businesses take stock of storm damage

The Bayside Cotton Gin in Refugio County Texas was among the buildings damaged by the storm. | Photo by Joseph Floerke via U.S. Department of Agriculture

On Tuesday, businesses were beginning to assess the damage wreaked by Harvey—damage that affected both property and sales.

Harvey curbs U.S. auto sales as key regions in No. 2 market reel
With dealerships flooded and closed, and thousands of consumers displaced in southeast Texas, Harvey is expected to dent U.S. light-vehicle sales for August and will likely dampen industry deliveries into next month, analysts say. But many of the lost sales will be recouped down the road as the region recovers and some damaged and scrapped vehicles are replaced, analysts say.

Automotive industry responds to Harvey disaster
There were plenty of examples of automakers and other industry groups pledging funding to help the Houston area recover. That included Ford, Toyota, the National Automobile Dealers Association, CDK Global and CarMax.

Storm disrupts shipping routes
After four days, Harvey continued to cause delays in shipments of new and used vehicles, as well as auto parts, through Texas and some areas along the Gulf Coast. Logistics providers and shippers said they wouldn't know when freight transportation would resume until the heavy rain ended and they could assess damage to operations and equipment, and determine whether road or rail routes are passable.

Hurricane-damaged catalysts plant in danger of explosion
A storm-related power outage has created an explosion risk at a plastics catalysts plant operated by Arkema Group in Crosby, Texas. The facility lost power late Aug. 28 from both its primary supply and its backup generators due to flooding, according to a statement on the company's website.

Processors take stock of damage from Harvey
Processors are assessing damage from Hurricane Harvey and the more than 4 feet of rain that came with it in Texas. While information is just starting to come in regarding businesses in a region that saw more than 13 deaths a few near the Gulf Coast have reported seeing some damage.

Materials firms begin work to restart production in Texas
Rain spawned by Hurricane Harvey is still falling near Houston, affecting more than half of the U.S. ethylene capacity, but some firms are gradually making plans to bring materials plants back on line. Both Formosa Plastics Corp. USA and Enterprise Products LP have announced they have begun work to restart operations in Texas, four days after Harvey made landfall on the Gulf Coast.

Trump's easing of building regulations could backfire during severe flooding
Hurricane Harvey continues to ravage southeast Texas on an unprecedented scale and that's put disaster preparedness back in the forefront. Yet, experts say an executive order that President Donald Trump recently signed easing infrastructure regulations would put hospitals in a vulnerable position during any future natural disasters.

August 30, 2017 - 9:14pm