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Time Inc. to honor the Big Easy

Nearly two years ago - August 29, 2005, to be precise - Hurricane Katrina made landfall in southeast Louisiana. The subsequent breach of the New Orleans levees left about 80% of the Crescent City flooded and caused tragic loss of life.

100 weeks later, New Orleans and the surrounding areas are slowly but surely rebuilding. The site of Zapp's potato chips in specialty grocery stores across the country is certainly a good sign for me personally. Tourism remains a critical element to the venerable city's recovery so please remember to spend money if you happen to be in the region ... and buy locally.

Time Inc. - the magazine publishing arm of Time Warner (NYSE: TWX) - is paying tribute to New Orleans this month, with 10 of its magazines featuring articles about New Orleans. A Time cover story argues that the same bureaucratic mistakes are being made to shield the city against future storms. Essence follows up with 3 New Orleans families interviewed in 2005. Fortune looks at the economic state of the city and the impact of two years' worth of relief funds. Even Entertainment Weekly features a look at the Big Easy, featuring personal photos from R.E.M. lead singer MIchael Stipe, whose band recently released the song "New Orleans Instrumental No. 1."

Continue reading Time Inc. to honor the Big Easy

Home Depot: Rebuilding its image by rebuilding on Gulf Coast

On the one year anniversary of Hurricane Katrina, Home Depot, along with major home improvement competitor Lowe's Cos., is trying to expedite the rebuilding process for Gulf Coast residents. Like a century or more ago when customers could buy a complete house kit from Sears and have it shipped out west by train, Lowe's is offering 4 "Katrina cottage" kits. These are simple, small homes that can be built at a cost of $45-$55 per square foot, a substantial savings. Home Depot is working with a group to make modular houses available to residents of Pass Christian, Mississippi. Home Depot Foundation will provide $60,000-$80,000 towards the cost of these modular homes for at least 15 residents. The hope is that other groups will also want to sponsor a modular home for a family once these initial homes are built. Anything will be better than housing thousands of people in FEMA trailers for years to come.

Home Depot is still trying to recover from wounds inflicted on itself at the May annual meeting at which CEO Bob Nardelli refused to answer questions regarding his decision to change the way Home Depot reports its sales figures. While all is by no means forgiven, Home Depot has taken several steps recently to accommodate irate shareholders. Currently, directors can be elected if they receive a plurality of votes. Even if 99% of votes are withheld, a candidates can be elected with 1% of yes votes. According to Jennifer Waters at MarketWatch.com, in 2007, Home Depot directors must secure a majority of votes to be elected. If more votes are withheld than secured, the candidate will not be elected. This proposal to change they way directors are elected won 56% of shareholder votes during 2006 balloting. More transparency at the top is a good thing.

Just in time for the beginning of college football season, Home Depot signed a three year deal to continue its sponsorship of College GameDay on ESPN. The Home Depot logo and color scheme will figure prominently on the main desk of the set. Home Depot will also sponsor shorter programs on ESPN's Friday Sports Center throughout the season.

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Last updated: November 27, 2009: 02:19 AM

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