Category 5 Nonsense

An inordinate number of companies are issuing earnings warnings citing the devastating impact of Katarina. Many companies already had doubtful earnings outlooks. Now managements are hiding behind mother natures wrath and pretending that they were sort of OK before. The sad reality of disasters is that they do stimulate certain types of economic activity, while at the same time stripping away old legacies which no longer serve us well.
Truth be known some executive teams are just setting up their next bonus by reducing current expectations and hoping the corporate boat lifts with higher economic activity.