While many communities do this, it was nevertheless nice to see the city of Cedar Rapids survey a portion of its business community and ask what it can do to help after the devastating derecho that swept through on Aug. 10.
A recent survey reached 111 businesses, and the results reveal that those companies lost a combined $133.4 million because of that disaster.
Insurance is expected to cover the costs of the storm for approximately half of the respondents.
After the storm, commerce essentially stalled for a week in much of Linn County while electricity and other services were put back in place. Of the respondents, 32% reported losing two weeks of operations or more, and 22.6% lost more than one week, according to a news report.
The data is important, but what’s more important is what’s next.
“Now we’ve got to figure out what role the city can play in helping our economy recover,” Cedar Rapids Mayor Brad Hart said in a recent news report.
Much is put on the shoulders of businesses in Linn County and across the region, especially during this time of economic challenge. We appreciate this specific survey and the city’s willingness to help. At its core is the appreciation that business is important, and that government can do more to help its local and regional business community succeed. It’s something we’d like to see from all levels of government, not just after disasters.
We are unabashedly pro-capitalism on this page. We think it is hands down the best economic and political structure created by mankind.
But capitalism has been challenged this year with pro-socialism efforts championed by several failed presidential candidates and by an economy burdened by the COVID-19 pandemic.
We were therefore heartened to see that John Mackey, the CEO and founder of Whole Foods, has continued to take up the mantle of advocating for capitalism and the important role that it plays in the United States, and outlining the dire consequences we face if we continue toward socialism.
Mr. Mackey is one of the most acclaimed CEOs in his generation, having been recognized as the Institutional Investor’s “Best CEO in America” and Barron’s “World’s Best CEO,” among many more.
Mr. Mackey spoke recently about his new book, “Conscious Leadership: Elevating Humanity Through Business.” The speech was released online and has created a buzz.
Mr. Mackey blames colleges and progressives for encouraging disquiet about capitalism.
“That’s why we’re seeing this move towards socialism, because capitalism they see as inherently corrupt,” Mr. Mackey said. “That is wrong. Capitalism is the greatest thing humanity’s ever done. We told a bad narrative, and we’ve let the enemies of business and the enemies of capitalism put out a narrative about us that’s wrong. It’s inaccurate.”
We’re hoping Mr. Mackey continues with this important cause.