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December 23, 2005
Transit Strike Leaves Costly Lesson
While the New York transit strike is officially over, the debate over how much it cost the city continues. Mayor Michael Bloomberg estimated that the strike cost $400 million for the first day and $300 million for each following day, although some economists have said those figures are too high.
What isn’t being disputed is that the strike took a serious swipe at New York retailers during a time of year that can account for 20% of their annual sales.
If nothing else, the situation is a good lesson to retailers that they need to have a contingency plan in place if their physical locations are rendered inaccessible due to lack of transit, natural disasters, or other crisis situations.
Posted by Blacks on December 23, 2005 12:19 PM
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