October 8, 2024

Herbert Saffir wasn't completely prepared for hurricanes either. 

In the early 70s, Saffir co-developed the system for measuring the wind strength of hurricanes, something similar to the Richter scale used for earthquakes.

What became known as the Saffir-Simpson (also named for Robert Simpson, then-director of the National Hurricane Center) scale places storms into categories based on sustained wind speeds. 

Ironically, in an interview shortly before his death in 2007, Saffir, who lived in the Miami area, confessed to having just partial shutters on his home, leaving it somewhat vulnerable to storms. 

The moral of the story, as thousands of Floridians flee a second major hurricane this month, is that you shouldn't beat yourself up if you're not 110% prepared. Few people are. 

For those in Hurricane Milton's enormous path, the important thing is to be as safe as you can be, prepare as best you can and check on your people. You're in our thoughts, as are those still recovering from the devastation of Hurricane Helene. 

Let's talk about it.

Go (Mid)West?

Nowhere is immune from climate change. But business leaders believe that the Midwest could be a potential refuge from the threats of climate change, which continues to fuel increasingly destructive natural disasters around the world.

Climate change costing American businesses millions, if not billions, of dollars means it's also costing consumers. 

In the United States, devastating wildfires and hurricanes have sent insurance premiums skyrocketing in states like California and Florida, with some residents recently reporting paying as much as $3,000 per month for home insurance. Increasing costs and the threat of extreme weather have prompted people to uproot their lives and move elsewhere—often to the Midwest.

Now a new survey out of Michigan suggests that businesses, too, may be eyeing America’s heartland as a place to set up shop in order to reduce the mounting costs associated with global warming.

“The evidence of climate change is growing like a crescendo,” said Scott Thomsen, CEO of LuxWall, a Michigan-based window manufacturer. “We’re certainly seeing it in our industry.”

Thomsen was one of 300 senior-level executives interviewed in a survey released Sept. 30 by MIT Technology Review Insights and the Michigan Economic Development Corp., or MEDC. The executives, who work across 14 industries, including retail, financial services and manufacturing, all reported that their companies have been harmed to some degree by climate change. Those harms include physical damage to property, increased operational costs, rising insurance premiums and disruptions to their supply chains.

Three-quarters of the survey respondents said their companies have considered relocating due to climate risks, with nearly a quarter saying they’ve already relocated in part because of climate change. About 6 percent said they plan to move their businesses within the next five years.

Nearly half of the survey participants also believe the Midwest is the nation’s least vulnerable region when it comes to climate risks.

Bonus: Speaking of the economy, be sure check out our voter guide on the economy and the major cost-of-living issues at play in this year's election. 

Data points were made

Hurricane Milton could be the first major storm to directly hit Tampa, Fla., in over 100 years. It's also the fastest hurricane to strengthen to a Category 5 on the aforementioned Saffir-Simpson scale.  

Katie Johnston, a former Floridian who now runs Reckon's audience shop, hipped us to local lore that Native American burial mounds have protected the Big Guava over the years. Here are a few more stats about recent storms:  

—From 2010 to 2023, an average of 1.6 hurricanes made landfall per year in the U.S. (National Hurricane Center, NOAA)

—The most fatal hurricanes since 2000 are: Hurricane Maria (2,982 deaths), Hurricane Katrina (1,833 deaths), the recent Hurricane Helene (227 and, sadly, counting) and Hurricane Sandy with 159 deaths

—Hurricane Katrina in 2005 remains the costliest hurricane on record, causing $101.9 billion in insured losses when adjusted for inflation to 2023 dollars (Insurance Institute)

—The 10 most costly hurricanes in the U.S. have caused over $400 billion in insured losses when adjusted for inflation to 2023 dollars (Insurance Institute)

—A total of 305 hurricanes struck the mainland U.S. between 1851 and 2023, with 97 of them being major hurricanes (NOAA)

—Florida has been hit by more hurricanes than any other U.S. state: more than 500 tropical and subtropical cyclones impacting the state since 1851 (Wikipedia).

—Through this year, Florida has had 32 storms to cause more than $1 billion in damage each (Fortune)

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