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COLDWELL BANKER FILES LAWSUIT AGAINST NEW ORLEANS BROKER: 'Post Katrina Recovery Overwhelming for Most Small Businesses' -- Danette O'Neal
Since September of 2005, the New Orleans metro area has loss more than 60,000 small businesses, with more losses expected as the city begins year two of its recovery process.
One Crescent City entrepreneur whose recovery efforts have been stymied is realtor Danette O'Neal, owner of Danette O'Neal Realtors. With post Katrina sales at her company down a whopping 70%, O'Neal's company has joined a growing list of Gulf region business owners who now face the nearly impossible challenge to rebuild. The city is still without a master plan to rebuild and over two thirds of its residents remain displaced elsewhere, which has left many business owners without the support and resources to reestablish their livelihood.
As if those troubles weren't enough, O'Neal must deal with the added woes of a legal threat to her company in the form of a recent lawsuit file by Coldwell Banker. "They are suing me for 10 years of potential income (franchise fees) in a market that has lost more than 2/3rd of its residents," she comments. "How can Coldwell Banker be so insensitive to expect projected profits for the next 10, 5 or even 3 years, when the infrastructure of New Orleans is so badly damaged."
Over the past 16-years Danette O'Neal Realtors had built a successful reputation for working with predominately black low to moderate income 1st time home buyers. Prior to the Katrina evacuation, O'Neal's company boasted over 52 agents who worked from two offices based in the city. Since the storm, the company suffered the complete loss of its principal Canal Street location, plus substantial damage to its other office space. Although the company reopened 3 months after the storm, only 6 agents were able to return to aid in rebuilding efforts.
According to a release issued by O'Deal's publicist, The Robertson Treatment, Coldwell Banker, a member of the Cendant Family (the largest franchise in North America) is no stranger to trouble. Last year they made headline news in Georgia for Fair Housing violations complaints which were filed against them. However, they have aggressively waged a civil suit against O'Neal in spite of her company's circumstances. "I understand business, but all of America knows of our plight in New Orleans," says O'Neal. "The actions that they have taken threaten not only my business, but my home, personal possessions and the future of my children. I just want to rebuild my company. I am still trying to restore my company after the loss of my contents and business interruption, but instead I must fight Coldwell Bank's threat to take away my legacy to collect 10 years of potential income."
A respected figure in the real estate community, Danette has been very active post-Katrina working for Governor Blanco as one of the Commissioners for the Louisiana Housing Finance Agency. She also chairs the Single Family Committee that has been instrumental in developing programs for residents to purchase homes, and has traveled extensively educating evacuees about the Louisiana Recovery Programs for returning residents.
O'Neal is equally passionate in her belief that the rebirth of New Orleans is directly tied to the survival of small businesses. "Small businesses employ more people than any other entity in the Gulf region," she says. "To revitalize this city, small businesses must be in the mix to contribute to the local economy. This is a crucial time for the redevelopment of the Gulf region and what small business owners really need right now is relief support and assistance to become healthy again."
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source: Danette O'Neal (504-915-7223) via BlackNews.com
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