A New Idea for Sandy Relief: Illustrated Junk Bonds

Portrait of Jerry Thomas–the author of “How to Mix Drinks, or The Bon-Vivant’s Companion” (1862)–by Tim Hamilton

When Hurricane Sandy hit New York City more than two weeks ago, the sleepy waterfront neighborhood of Red Hook, Brooklyn, suffered some of the worst flooding in the five boroughs. Even now, as much of the rest of the city has resumed normal operations, some Red Hook residents are still without power, and many area shops and businesses remain closed (including the massive Fairway grocery store that anchors the neighborhood; it is not expected to reopen for months.)

One neighborhood restaurant, Fort Defiance—which lost much of its equipment and inventory to flooding—has come up with a clever scheme to help fund its own rebuilding effort: Fort Defiance Junk Bonds, or gift certificates that retail for twice their value. Here’s how it works:

You give us $20, we send you $10 in gift certificates. You send us $100, we send you $50 in gift certificates. Got it? Junk bonds—not worth what you pay for them! It’s a terrible deal for you, but we really need the money!

The bonds were designed by Jen Storch with illustrated portraits of cocktail royalty by Tim Hamilton, Joan Reilly, and Simon Fraser. Purchase yours here—and read about Fort Defiance’s gradual reopening in this blog series by the restaurant’s owner. Or, contribute to the overall neighborhood recovery effort at Restore Red Hook.