HOUSTON, TX (September 5, 2017) - In light of the unprecedented destruction caused by Hurricane Harvey, we wanted to provide notice that all USCA employees are safe and although a number of our employees experienced property damage due to flooding, the firm is providing support where needed. In addition, while our Houston headquarters office was closed last week, our Business Continuity Plan was in effect and functioned as designed – we had no issues serving our clients across all of our business lines from our offices in Austin and Dallas.
Our thoughts are with our community, including all of our clients who live in the areas hit by the storm.
Although it is still too early to fully assess the destruction from the storm, the scale of the devastation is already being categorized as the worst natural disaster in Texas history and one of the worst natural disasters in U.S. history. Some of you reading this have been impacting by this destruction directly. Most of us have family and friends that have been impacted by Hurricane Harvey.
In an effort to help bolster and speed relief and recovery efforts, USCA has partnered with the United Way of Greater Houston to facilitate the donation of relief funds from the firm and employees to assist the huge number of Houstonians impacted by the catastrophic flooding from Hurricane Harvey.
“We chose to partner with the United Way of Greater Houston in this effort due to the organization’s long history of providing services focused on stabilizing those families in our greater Houston community who are vulnerable and unable to meet their basic needs. That experience will be exceptionally critical in this crisis where tens of thousands of people have lost their homes, the majority of their personal possessions and their means of transportation to their place of employment.” said David King, USCA Managing Partner and Co-founder.
In addition to the personal contributions that USCA employees choose to make, the firm will be donating 100% of gross institutional client trading commissions on Wednesday, September 6th
, to the United Way of Greater Houston Flood Relief Fund. You can read about that donation at the following link: U.S. Capital Advisors Partners with United Way to Aid in Hurricane Harvey Relief
If you would like to donate alongside the USCA team, please see details on how to do that below. 100% of any donation you decide to make to the United Way of Greater Houston Flood Relief Fund will go to meet storm-related relief and recovery across the Houston community.
How to Donate?
- Click on this link: https://www.unitedwayhouston.org/flood/flood-donation
- Type in your donation amount
- Click on where you would like your donation to be used
Type in name of cardholder for the credit card you are using for the donation
Enter your email, address, phone, city, state and ZIP
If you would like to be included in the USCA aggregate donation you should type: ‘USCA’ in the box titled “Company Name” (USCA should be in all caps and not include periods.) This is not required to make a donation.
Click “continue” and then go on to enter your credit card information to complete donation
- Wherever it will do the most good
- Harris County
- Fort Bend County
- Montgomery County
- Waller County
Since there is so much information out there about the situation in Houston online, in the papers and on the television, we’ve included below a number of facts and details that, we hope, help to provide an idea of the enormous scope of this crisis and why any financial donations that any of us can make will be critical to helping to get Houston back on its feet.
- 53 Texas counties issued emergency declarations. This is an area that is home to roughly 11.4 million people
- Hurricane Harvey broke the record for rainfall in the continental U.S. from a single storm (51.88 inches)
- It is estimated that the storm dumped roughly 27 trillion gallons of water on Texas and Louisiana
- That is roughly one million gallons of water for every person that lives in Texas
- This equates to roughly 70% of the water volume of Lake Tahoe (6th largest and 2nd deepest U.S. lake) and over 5 times the water volume of Crater Lake (the deepest U.S. lake)
- The size of the area in and around Houston that was hit with record levels of rainfall is roughly 40,000 square miles.
- That is roughly the size of Kentucky and is larger than Belgium and Greece.
- The Harris County Flood Control District stated that 70% of the county’s land mass was submerged by at least 1 ½ feet of water during the storm
- The Harris County Flood Control District has estimated that at least 136,000 structures, roughly 10% of the structures in the county, were flooded.
- In Houston, more than 10,000 people have been saved by federal rescue teams. This excludes those rescued by Houston Police and Fire and countless volunteers and neighbors. Rescue operations are still ongoing.
- The entire Texas National Guard (12,000 troops), two navy warships (boarded with 690 marines), Air Force and Navy helicopters and fixed wing aircraft, and over 100 2.5-ton US army trucks have all been activated/deployed to assist in recovery efforts.
- It is estimated that as many as 30,000 people will ultimately be evacuated from flooded homes in Houston and the surrounding area
- There are at least 30,000 Houston residents that will need short-term housing while their homes or apartments are rebuilt
- ~80% of homeowners in the eight counties most impacted by flooding do not have flood insurance
- FEMA has stated that roughly 560,000 families in Texas have registered for its housing assistance program
- Temporary housing has been provided for ~19,000 households
- ~54,000 Houston residents displaced by Harvey currently staying in government sponsored hotel rooms
- FEMA home repair/rebuild grants are capped at $33,300..
- It is estimated that between 300,000 and 500,000 automobiles could be lost to the storm with a majority of those being in the Houston area
- Damage estimates from Hurricane Harvey are currently north of $150 billion
Houston is a very resilient place but, nonetheless, it will be a very long and difficult road back to normalcy for tens of thousands of people that live here. U.S. Capital Advisors is committed to helping our neighbors in need. Making a donation at the above link is one of the many available ways to contribute.
About U.S. Capital Advisors LLC
Based in Houston, Texas with additional offices in Dallas and Austin, U.S. Capital Advisors ("USCA") is an integrated financial services boutique with primary business lines in Wealth Management, Capital Markets and Asset Management. USCA's Wealth Management division provides a full range of advisory services and solutions to high net worth individuals and family offices. USCA's Capital Markets division, which includes the firm's, Equity Research, Institutional Client, Investment & Merchant Banking, and Public Finance businesses, advises corporate, institutional and municipal clients. USCA's Asset Management division includes the firm's multi-manager business, which focuses on alternative investments for individual and institutional investors. USCA was founded in 2010 and is privately owned. Securities offered through USCA Securities LLC, member FINRA/SIPC; Investment advisory services offered through USCA RIA LLC and USCA Asset Management LLC; Municipal advisory services offered through USCA Municipal Advisors LLC, member MSRB.
U.S. Capital Advisors LLC