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Yahoo
6 days ago
- Business
- Yahoo
1 storm, 1,400 closures: Rebuilding roads after a devastating hurricane
For months, Interstate 40 in western North Carolina was cut off following the devastation of Hurricane Helene. In February, part of the interstate reopened, but only for drivers who need to use it, and at a reduced speed. There were more than 1,400 road closures and 10 million cubic yards of debris removed from roads and waterways. It's been eight months, and WNC continues to face the aftermath of the most damaging and costly natural disaster in the state's history. Rebuilding has been arduous, and nowhere is that more evident than the work it took to reconnect I-40 from North Carolina to Tennessee. 'Our IMAP crews start driving from the Asheville side and noticed no traffic was coming through, so they know there's a problem. They got together with other local officials and opened a gate and sent traffic back to the Tennessee line,' said David Uchiyama with the North Carolina Department of Transportation. 'Without that emergency response in the moment, I have zero doubt that people would have died. The reconstruction was a historic operation that took 126 days. Although the road hasn't been fully rebuilt, the massive undertaking of opening one lane in each direction was monumental for commuters and for commerce. Some businesses are still feeling the impacts of the storm. Cass Santander with Explore Asheville says that even with 97% of the roads being partially or fully reopened, tourism is down. 'Seventy-five percent of hospitality and tourism-facing businesses are reopened, and there is a determination and grit to come back better than ever, and it's an exciting time to come and visit,' Santander said. Some roads are still struggling to reopen. Highway 64, for example, is still closed from Lake Lure through Chimney Rock and Bat Cave. Roads in Yancey County will likely take years to rebuild. 'Yancey County was one of the more devastated areas because of the rivers,' Uchiyama said. 'The Cane River, Nolichucky River that flow through it, just wiping out everything along its way.' So how do we prepare for future storms? Uchiyama says it's not about preparation, but more about resilience. 'Design standards have changed over the decades. So anything that is newer is better. And anything that is going in new now is going to be better than anything built even five years ago,' Uchiyama said. But through the noise of the bulldozers and the debris still lingering, what was once seen as a near-impossible task of rebuilding has transformed into inspiring stories of what can be achieved. (VIDEO: FEMA offers to sell temporary housing units to WNC families displaced by Hurricane Helene)
Yahoo
14-05-2025
- Climate
- Yahoo
On the road and in crisis: highway patrol troopers answer the call of duty
May 14—When Helene struck Haywood County, North Carolina State Highway Patrol troopers found themselves taking on duties and responsibilities they could not have expected, from turning traffic on a collapsing interstate to guarding gas stations and coordinating relief convoys. They found themselves stretched both physically and mentally to accomplish the near impossible — and they did it. Here are a few of their stories. I-40 goes into the river Sgt. Joey Henderson has now worked through three different floods in his 25 years in law enforcement. This time around, he was one of the first people to arrive on the scene as Interstate 40 washed away. "I was on Jonathan Creek when the interstate started washing out. We had a call to check the interstate," Henderson said. "We got down to right around the 3-mile marker where the interstate had washed out on the eastbound side. There was a pretty significant amount of traffic, particularly tractor-trailers, that were stuck between two washouts." Two Incident Management Assistance Patrol (IMAP) drivers arrived on the scene just before Henderson. By the time the trooper had arrived, the two drivers had already begun to remove the zipper wall — a piece of median that can be taken out if access is needed from one side of the interstate to the other. "We were lucky enough that towards the front area of that traffic was one of those zippers that they had pulled out," Henderson said. After removing the zipper wall, the focus turned towards getting the cars at the front out before any more of the interstate slipped into the Pigeon River. The rain was still coming down and there was no way to gauge whether the rest of the roadway would hold steady. "Those in the front were definitely in a much riskier spot on the interstate," Henderson said. "We were definitely trying to stay ahead of Mother Nature." The river had not yet crested, he added, and the trooper keenly felt the need to stay calm as some of the truck drivers' nervousness increased. Back and turn The vehicles in front of the zipper wall had to be backed up to the opening so they could be turned around and sent back toward Tennessee. Some drivers were so flustered that Henderson hopped in their vehicles and backed them up himself. In other cases, he provided support as the drivers backed up. "I can remember one specifically where every time there was a pop or a crack or a sound, he would jump on the brakes," the trooper recalled. "I kept encouraging him to focus on me." Eventually, they were able to get all of the drivers turned around and the interstate closed off. No communications Elsewhere, in Bethel, another trooper was facing his own challenges. Trooper Trevor Sawyer lives in the Bethel community and spent much of the immediate response time there, as well. "I woke up that Friday morning. Everything was kind of normal. We were getting a lot of rain and a lot of flooding," Sawyer said. "All of a sudden, it went from a little bit of rain and wind to the river rising and roads flooding." At that time, Sawyer was stuck in Bethel for four or five hours, unable to leave until flood waters receded, so he served as best he could where he was stranded. The trooper went to houses in lower-lying areas and started telling the folks inside to find higher ground or get to neighbors' houses. While his first day of flood response was hectic, the major challenges hit on day two. "Friday was a bad day. There was a lot of flooding. But Saturday was probably the worst day for us in law enforcement," Sawyer said. "That's the day that all the communications stopped. That was definitely a first-time experience, not being able to communicate over cell phone or radio. Nobody knew you were checked on. Nobody knew where you were. Nobody knew anything." Sawyer explained just how crucial being able to communicate is in law enforcement. "Your radio is just as important as your gun. You've gotta have a car, a gun and a radio. If one of those goes down, you're kind of helpless," the trooper said. He eventually tried to head toward I-40 to make sure things were going well there, unaware of the washout. "A lot of my responsibility is taking care of the interstate," he said. "I had zero clue that I-40 had washed away. I didn't know until Sunday the extent of I-40 (damage). It was stressful and confusing. I couldn't tell anybody what I was seeing or experiencing and no one could tell me what was causing the traffic backup in the gorge." Local guides Eventually, Sawyer's role shifted to helping troopers from other parts of the state find their way around Haywood County. The trooper grew up in Enka, lives in Bethel and worked in Jackson County for two years, giving him plenty of expertise on the area. "When we're getting all of this help, my role changes. I'm helping out my other troopers to know the area to direct traffic. We spent a lot of time in Canton because they had gas stations that were getting gas," Sawyer said. Those gas stations in Canton were a central post for many troopers in the days following the storm. "We stationed them at every gas station we could find in Canton that had gas," Sawyer said. "All the altercations that we were having, fights, guns being pulled, wrecks, that all kind of ended when we got that help from the outside." Coordinating routes As for Henderson, he stepped into the role of command post liaison for the highway patrol. He was stationed at Lake Junaluska, helping coordinate everything from rolling traffic patrol for the NCDOT to coordinating housing for those coming in from out of town. He also helped coordinate the path the trucks took from the rock quarry to various sites around the county. "It was a very frustrating position," Henderson said. "I spent long hours there. I was usually there by 6:30, 7 o'clock in the morning. I usually didn't leave until 8, 9 o'clock at night. It was 16, 17, 18-hour days for about five weeks." He also helped coordinate deliveries in through the gorge. Those deliveries brought in everything from heavy equipment to dynamite for the rock quarry. "I guess the thing that was most hectic is that we were setting up escorts through the gorge to get food and water in on I-40 without having to make a three-hour detour to get there," Henderson said. "My phone would ring in the four to six hours I had off with companies trying to set up those deliveries. I was dealing with phone calls all night long, setting those things up." These two troopers made it clear their accomplishments and those of their team would not have happened had everyone not worked together. "It's tough to take credit for stuff during the flood when there were so many people helping," Henderson said. "I'm just one of many, many folks that made things happen."
Associated Press
06-02-2025
- Business
- Associated Press
Capstone Partners & IMAP Release 2024-2025 Trends in Global M&A Research Survey:
Easing Recession Fears, Robust Private Equity Activity Drives Strong 2025 M&A Market Outlook BOSTON, Feb. 6, 2025 /PRNewswire/ -- Capstone Partners, a leading middle market investment banking firm, in conjunction with its partner IMAP, a leading global investment banking advisory firm, released its annual Trends in Global M&A Survey Report, with insights from M&A advisors across the world. This report combines Capstone's in-depth investment banking knowledge with proprietary data obtained from 100 participating IMAP M&A advisors across 54 countries. Conducted between September 19, 2024, and November 5, 2024, the survey captures sentiment at a pivotal moment in global middle market M&A, providing insight into M&A market activity throughout 2024 and anticipated dealmaking conditions in 2025. Key Findings: Advisors' economic outlook continued to improve as central banks began to cut interest rates, providing a healthy backdrop for 2025 M&A activity. Only 38% of total investment bankers surveyed expect a recession to be very or somewhat likely in 2025, down 22% year-over-year (YOY) and 40.2% compared to 2023's outlook. As M&A activity likely neared or reached its trough in 2024, the vast majority (79%) of total advisors surveyed anticipate 2025 deal flow to increase. This marks a rise of 28% YOY and 50.4% compared to 2023. Middle market M&A activity in 2024 continued to remain strong compared to the broader market, with 88% of total investment bankers surveyed indicating that middle market dealmaking outperformed or remained in line with the broader market. Advisors' outlook for private equity activity is increasingly bullish for 2025, as more than half (51%) of investment bankers surveyed expect sponsor dealmaking to increase. Buyers have become increasingly selective in their acquisition pursuits, prioritizing target companies with robust financial visibility. Among total investment bankers surveyed, 69% indicated that recurring revenue was the most important characteristic to acquirers in 2024, representing an increase of 6% YOY. M&A purchase multiples are expected to tick up in 2025, with 46% of advisors surveyed anticipating a moderate rise in valuations compared to 2024. Advisors showcased significant consistency regarding anticipated 2025 industry valuations, with the Financial Technology & Services and Healthcare industries expected to continue drawing the highest average typical M&A EBITDA multiples. In 2024, 54% of advisors surveyed identified that business owner retirement was the top factor for sellers initiating an M&A transaction in 2024. For 2025, industry consolidation is anticipated to be the primary sell-side motivator, which is likely a reflection of advisors' expectations for robust M&A volume gains in 2025. To achieve a successful M&A deal for a seller, nearly all (97%) advisors pointed to setting a realistic deal valuation as very or somewhat important. This aligns with the primary deal closing hinderance advisors faced throughout 2024, as 60% experienced excessive valuation expectations from sellers. Through this research, Capstone Partners and IMAP have tracked notable impacts on the global M&A market, current economic environment, as well as M&A advisors' expectations on pricing trends and regional risks and opportunities moving forward into report also provides an analysis of sell-side M&A considerations for middle market business owners looking to pursue a liquidity event. To access the full report including a breakout of the results by industry and region, click here. ABOUT CAPSTONE PARTNERS For over 20 years, the firm has been a trusted advisor to leading middle market companies, offering a fully integrated range of investment banking and financial advisory services uniquely tailored to help owners, investors, and creditors through each stage of the company's lifecycle. Capstone's services include M&A advisory, debt and equity placement, corporate restructuring, special situations, valuation and fairness opinions and financial advisory services. Headquartered in Boston, the firm has 175+ professionals in multiple offices across the U.S. With 12 dedicated industry groups, Capstone delivers sector-specific expertise through large, cross-functional teams. Capstone is a subsidiary of Huntington Bancshares Incorporated (NASDAQ:HBAN). For more information, visit ABOUT IMAP IMAP is an International Mergers and Acquisitions Partnership with a 50-year track record, more than 450 M&A professionals worldwide and a presence in 51 countries. IMAP has closed over 2,200 transactions valued at $130 billion in the last 10 years and is consistently ranked in the world's Top 10 M&A advisors (Refinitiv) for mid-market transactions. For more information, visit
