http://www.msnbc.msn.com/id/12875663/">Contractors rake it in as they clean it up
For companies in the disaster business, 2005 was a very good year. And if preseason predictions are correct, it could be the first in a series of profitable years for a rapidly growing industry that encompasses engineering firms, debris haulers and logistical specialists who rush in whenever disaster strikes.
In addition to being the largest natural disaster in U.S. history, Hurricane Katrina was a boon for companies that specialize in recovering from such devastation. It opened the spigot to billions of dollars in federal contracts to haul debris, make emergency repairs to damaged homes and buildings, and provide temporary housing and other structures.
The scope of the government aid and the private sector's degree of involvement was eye-opening to those on the receiving end.
“There is big money in disasters,” New Orleans Mayor Ray Nagin said recently at a conference of mayors. “Huge money."
Although the contracts went to more than 1,200 businesses, including some small and minority-owned firms, most of the biggest deals were awarded to the giant construction and engineering companies that dominate the disaster-recovery business. These companies, including well-known names like Halliburton and Bechtel, tend to have deep political connections and long histories doing business with the government.
But the growth of the sector is best illustrated by an emerging group of companies even more intensely focused on specialized aspects of post-disaster work. These firms, including Beck Disaster Recovery and AshBritt, typically spring into action after disasters strike by tapping networks of affiliated contractors to quickly dispatch personnel, heavy equipment and other specialized gear to the scene.
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