Word: ricchiuti
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Dates: during 2007-2007
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...Orleans "wasn't considered a great city for doing business before the storm. People were always dribbling out," says Peter Ricchiuti, a professor of economics at Tulane University. While many of the companies that made it through the storm could stand to benefit from the city's recovery, he says, Katrina may have hastened the loss of high-paying energy jobs. "We're losing the white-collar jobs and keeping the blue-collar jobs," he says. "We're becoming much more of a blue-collar oil industry...
Whether it will be sufficient - or happen quickly enough - to staunch the loss of high-paying jobs is a serious question. "As painful as all of this has been, you've had changes, really positive, powerful changes, that never in a million years would have happened without this disaster," Ricchiuti says. And despite lingering problems, there are many residents who are willing to tough it out, and hope businesses - and city officials - will follow their example...
What do you think of the huge salaries in professional sports these days? Steve Ricchiuti, CONCORD...
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