Snow Not Panning Out As Planned Could End Up Hurting The Bottom Line Of Some
By Syma Chowdhry
PHILADELPHIA (CBS) --"Forecast busts, if you might call it that, do happen," says Mayor Nutter.
A bust in this "no-storm" isn't just disappointing for snow lovers. Many businesses have been affected by this forecast "faux pas."
Mayor Nutter made the decision Monday to essentially shut down the city and close schools.
He says it's better to be safe than sorry.
"Rather be prepared and subsequently disappointed with inconvenience than under prepared and surprised with any kind of tragedy."
Some agree.
Belinda LeSueuer, of Southwest Philly says, "When they under predict it, people get in trouble, they get stranded, and unfortunately some die. So I don't mind that it was over predicted."
But businesses, like a newspaper stand, rely on foot traffic. And with City Hall closed, it's like a ghost town here.
Atul Amin says, "Just like a holiday, like a Saturday or a holiday because many people didn't come in town today."
Stephen Mullin, of Econsult Solutions says, "Small businesses that rely on a day-to-day type of business catering to office workers."
Economist Stephen Mullins says there are clear winners and losers in this storm.
The losers are some retail shops and restaurants in the city, including food trucks.
This vendor usually has 40-50 customers for lunch, but hasn't seen many of his "regulars."
Yousef Shah, a food truck vendor, says, "It's too slow, nobody came out that's why it's too slow."
The winners for this storm?
Mullin says, "Convenience stores, the Home Depots, the gas stations, the 'where do you buy a snow shovel' place."
We made our way to Rittenhouse Hardware, where they had been busy selling snow supplies.
William Gallagher, of Rittenhouse Hardware says, "The panic set it by about four to five days ago, people started coming in buying tons of salt and shovels."
Mullin says had the storm been as bad as predicted, it could have had a worse economical impact that lasted for days.
But if we had to put a number on it the city lost..."In the tens or hundreds of millions of dollars."
That may sound like a lot of money, but Mullins believes it could be made up in the next few weeks.
And Mullins also reminded us, this winter hasn't been as bad as last year's, so the city is coming out on top this year.
