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Patrick Egan, CRE

Our Not So Excellent. Katrina Adventure. Patrick Egan, CRE. Exec. V.P., Director of Commercial Sales and Leasing. Forecast - Thursday, August 25. Thursday, August 25. Forecast - Friday Morning, August 26. Forecast - Friday Afternoon, August 26. Forecast - Saturday Evening, August 27.

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Patrick Egan, CRE

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  1. Our Not So Excellent Katrina Adventure Patrick Egan, CRE Exec. V.P., Director of Commercial Sales and Leasing

  2. Forecast - Thursday, August 25

  3. Thursday, August 25

  4. Forecast - Friday Morning, August 26

  5. Forecast -Friday Afternoon, August 26

  6. Forecast - Saturday Evening, August 27

  7. Sunday, August 28

  8. Sunday, August 28

  9. Sunday, August 28

  10. Monday, August 29

  11. New Orleans Levee System

  12. Levee Breaches and Flooding

  13. Levee Breaches and Flooding

  14. Storm Aftermath

  15. Storm Aftermath

  16. Storm Aftermath

  17. Storm Aftermath

  18. Days following storm • No electricity, water in entire city • No local radio/TV broadcasts • No cell phone service anywhere w/504 AC • Agents scattered • Baton Rouge business explosion • Great uncertainty as to timeline for return

  19. Steps taken • Emergency Yahoo.com email address posted to web • Web was initially primary communications source • Assembled roster/contacts/message board • Baton Rouge office became new communications center once power restored -added desks/wireless internet – email server reset to B.R. in 48 hrs. • B.R. became home for next two months • Monitored New Orleans situation-arranged trip back in

  20. Storm Aftermath • Three of our branch residential offices destroyed • Several staff and agents didn’t return • Latter & Blum returned to metro New Orleans Oct. 17 • Returned to our downtown offices Jan. 9. • Moved again in March of the following year to our current building

  21. September 9th

  22. Storm Aftermath Paratroopers from Bravo Company, 2nd Battalion, 505th Parachute Infantry Regiment, 82nd Airborne Division, patrolling Bourbon Street.

  23. Storm Aftermath

  24. Storm Aftermath

  25. Storm Aftermath

  26. New Orleans Today • 76.4 % of pre-Katrina residences actively receiving mail in Orleans Parish, a 4.3 % increase from last August. • 89.6 % of pre-Katrina residences actively receiving mail in the metro area, a 4.3 % point increase from last August. • The New Orleans metro area lost only 0.9 % of total jobs since last June compared to a 4.1 % loss for the nation. • Compared to the 100 largest metros, New Orleans had the sixth lowest unemployment rate in the first quarter of 2009.

  27. Still many questions regarding new flood maps, levee repairs, rebuilding plans • Floodgates have been built at three canals

  28. Source: Latter & Blum Commercial Division Source: Latter & Blum Commercial Division

  29. Source: Latter & Blum Commercial Division

  30. ELMWOOD YEAR END RESULTS Source: Latter & Blum Commercial Division

  31. Greater New Orleans Area Gross Industrial Absorption Source: Latter & Blum Commercial Division

  32. HYATT REGENCY – AFTER KATRINA

  33. Source: PKF Consulting

  34. French Quarter HotelStatement of Actual Revenue and ExpenseYears-Ending 2005-2006

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