Day 4, Wednesday (clients!) Kristin

This morning an economist gave a very interesting presentation on the local economy and how it compares to the national economy.  In summary the city’s economic development is still only about 90% of what it was before Katrina.  Also the makeup of industries producing the greatest of number of jobs has changed.  There are increases in engineering and construction for obvious reasons.  We also learned that once Katrina hit, many young professionals (especially those with school aged children) left the city.  The economist continued to paint the grim picture of the national economy.  Overall economic development in New Orleans is not as great as pre Katrina, rather still on the road to recovery and that is where we come in.

 

Today was significant because we were able to reach the greatest number of clients.  I worked with 5 clients in various capacities.  One client wanted to understand the taxability of a grant.  It took 4 CPA’s to figure it out, but we all learned something.  Another individual wanted us to review a business plan and provide advice on entity selection.  The advice we were able to provide was great because of the depth and variety of experiences of the people in the room. 

 

We went to dinner in the Garden district.  There were many beautiful homes and nice restaurants. The food was good.  The evening concluded with a visit to a local bar.  We later learned this was not exactly the type of place the locals would recommend for a bunch of CPA’s.  It was very interesting to say the least.

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