The Investor Manifesto
Advertisement
  • Business
  • Politics
  • Investing
  • Stocks
No Result
View All Result
  • Business
  • Politics
  • Investing
  • Stocks
No Result
View All Result
The Investor Manifesto
No Result
View All Result
Home Business

In wake of L.A. wildfires, a diverse small business community looks to rebuild

March 4, 2025
in Business
In wake of L.A. wildfires, a diverse small business community looks to rebuild
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

When the Los Angeles wildfires swept through Southern California in January, Barbara Shay lost much more than the building housing the cafe she owned.

Gone were the ingredients for menu items like grits or pancakes. Gone were the photos of icons ranging from former President Barack Obama to actor Richard Pryor that had lined the walls. Gone, too, were the decades of labor from Shay’s family.

“I am still in shock,” Shay said in an interview with CNBC. “It’s an emotional roller coaster — not just for me, but just for everyone.”

Shay is part of the diverse fabric of small business owners in Altadena, a town about 15 miles outside downtown L.A that was hard hit by last month’s blaze. As the community starts the yearslong rebuilding process, entrepreneurs like Shay are starting to chart their paths forward.

She plans to rebuild the 70-year-old Little Red Hen Coffee Shop and is evaluating the finances for opening up a temporary storefront or popups. The business spans generations: After following in the footsteps of her mother and brother in owning the business, she now works alongside her daughter and grandson.

But while many in Altadena’s entrepreneurial community remain optimistic about a recovery, multiple business owners described lengthy and difficult roads ahead.

Some businesses were burned entirely to the ground like Shay’s, while others face long-term displacement due to damage or smoke. For those fortunate enough to have brick-and-mortar properties still standing, they’re surrounded by what some have described in interviews as “ground zero.”

“It’s kind of unfathomable,” said Henri Wood, who owned a cannabis business called The Flourish Group that was burned down. “What was once just a vibrant, lively community is just completely gone.”

Altadena’s diversity cannot be understated. Census data shows that more than half of the population is people of color, with Latinos making up 27% of residents and Black people accounting for 18%.

Altadena has historically been known as a hub for Black families and businesses after being one of the only Los Angeles County areas exempt from redlining during the Civil Rights movement. The Associated Press found that the home ownership rate for Black people in Altadena now sits above 80%, which is nearly double the national average.

People stop to take in the scene of burned down businesses along Lake Avenue in Altadena on Thursday, January 9, 2025. Christina House / Los Angeles Times / Getty Images

But Altadena’s business owners — many of whom also grew up and now raise families there — are worried the fires will leave that diversity in the rubble. Emeka Chukwurah, founder of community culture center Rhythms of the Village, said he’s concerned that the fires will expedite gentrification that was already taking place in the neighborhood.Black residents accounted for more than 40% of the town’s population in 1980, according to Altadena Heritage. That proportion has been more than halved since then. Chukwurah has sold Altadena-branded merchandise to keep the community and its diversity from being forgotten by broader society.

“I’m hoping that we can keep the developers and those kind of people at bay so that we can hold on to what’s been built over generations,” Chukwurah said. “I’m hoping that this one will be in the history books as a resilient community, and that a large amount of us — or, if not, all of us — can stay to tell the story.”

Insurance agent Maricela Viramontes has seen how homeowners in the town at the foothills of the San Gabriel mountains are responding firsthand. Many are accustomed to fires due to its geographic location, she said, but they did not expect the destruction seen in January. The deadly fires caused more than $250 billion in damage and economic loss, according to an AccuWeather estimate.

Viramontes, who has lived in Altadena for nearly 25 years, woke up the morning after the fires in a shelter, as it was the only place her family could find to evacuate to. By early that morning, she began receiving calls while still at the shelter from clients looking for guidance on filing claims for lost property.

It’s the same paperwork that she, too, is filling out. Shortly after that day taking calls in the shelter, Viramontes learned that her home and car were both destroyed. Her office needs months of repairs for smoke damage.

“Everyone asks, ’What can I do?, ‘How can I help you?,‘” said Viramontes, who now lives and works out of her parents’ home nearby. “It’s so hard to answer that question when you don’t know.”

As businesses begin draft plans to clear their land and build new structures, they’re making plans for how to make ends meet in the short term.

Wood’s cannabis shop, for instance, has been connecting customers directly with providers while it figures out a long-term strategy. He called donations and mutual aid a “lifeline” for the business, which he said is excluded from several government aid programs because marijuana is not legalized federally.

Multiple entrepreneurs interviewed by CNBC said they are considering short-term rentals. They’re also considering business loans, though there’s concern about owing money with the financial outlook for their ventures so uncertain.

Through it all, these owners haven’t forgotten they are part of a community that’s stepping up to meet the moment.

Steve Salinas, who’s owned a namesake bike shop in Altadena for nearly four decades, has been repairing donated bicycles and re-homing them with community members. He’s gotten parts donated from other shops and monetary support through GoFundMe.

“Everybody sort of pitches in to help where they can,” said Salinas, who is looking for a short-term rental space after his store burned down. “People that have lost everything are donating their time and their resources and, most importantly, their connections to help other people in the community heal.”

In the same vein, Rhythms of the Village’s Chukwurah opened a free boutique with clothing and other necessities at his family home. It’s the temporary headquarters for the business, which has previously offered drum lessons and classes on Nigerian language and African history, after their storefront burned down.

Chukwurah said he’s committed to keeping the business in the Altadena area. As he scouts out a new location for the center, he’s planning to purchase this time around instead of rent.

“The structures are down,” he said, “but the community spirit is up.”

— NBC News contributed to this report.

This post appeared first on NBC NEWS

Previous Post

Treasury Dept. will not enforce ownership information reporting for millions of businesses

Next Post

Treasury ends enforcement of business ownership database meant to stop shell company formation

Next Post
Treasury ends enforcement of business ownership database meant to stop shell company formation

Treasury ends enforcement of business ownership database meant to stop shell company formation

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Use This Multi-Timeframe MACD Signal for Precision Trades

    Use This Multi-Timeframe MACD Signal for Precision Trades

    May 8, 2025
    The Unpredictable Stock Market: How to Make Sense of It

    The Unpredictable Stock Market: How to Make Sense of It

    May 8, 2025
    Trump offers to help India, Pakistan amid growing conflict: ‘I want to see them stop’

    Trump offers to help India, Pakistan amid growing conflict: ‘I want to see them stop’

    May 8, 2025
    Lone Republican becomes only lawmaker to vote against crackdown on human organ trafficking

    Lone Republican becomes only lawmaker to vote against crackdown on human organ trafficking

    May 8, 2025
    Disclaimer: TheInvestorManifesto.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Popular

    The Best Five Sectors, #18
    Stocks

    The Best Five Sectors, #18

    May 6, 2025

    Read more

    Recent News

    Use This Multi-Timeframe MACD Signal for Precision Trades

    Use This Multi-Timeframe MACD Signal for Precision Trades

    May 8, 2025
    The Unpredictable Stock Market: How to Make Sense of It

    The Unpredictable Stock Market: How to Make Sense of It

    May 8, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Copyright © 2025 theinvestormanifesto.com | All Rights Reserved

    No Result
    View All Result
    • Business
    • Politics
    • Investing
    • Stocks

    Copyright © 2025 theinvestormanifesto.com | All Rights Reserved