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Thursday, July 2, 2009
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BUSINESS
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Before Louisiana economic development officials revealed V-Vehicle Co., a San Diego startup, as the automaker who’ll occupy a more than 700,000-square-foot plant in Monroe, speculation fixed on Fisker Automotive Inc. as the potential occupant.
The Shaw Group Inc. today announced Lee Elder has been named senior vice president of business development in the company’s Power Group. The Louisiana Workforce Commission will conduct a Port Allen job fair on July 10 from 10 a.m. to 2 p.m. with an emphasis on finding employment for workers losing their jobs at Trinity Marine Products. The successfully completed merger of Monroe-based CenturyTel Inc. and Embarq Corp. creates a Fortune 500 company with more than 2.1 million broadband customers, more than 440,000 video subscribers and 7.5 million access lines in 33 states, company officials said. Dow Chemical Co. said Wednesday it will close several Louisiana processing units — affecting about 100 jobs in Plaquemine and Hahnville — as part of a shift away from basic chemicals toward more lucrative specialty chemicals. Baton Rouge’s job market continues to outperform nearly every metropolitan area in the U.S., with the Louisiana capital’s job gain from May 2008 to May 2009 ranking No. 2 in the nation, a federal labor agency reported today. A Shell business unit topped the award of oil and gas leases in the central Gulf of Mexico, the U.S. Minerals Management Service reported Monday. The LSU AgCenter and the Louisiana Department of Agriculture and Forestry will present an Agritourism Roadshow this summer. Colby Cypriano has been named director of compliance at Horizon Wealth Management. Kenneth Jones has been inducted into the Louisiana Home Builder Association’s Housing Hall of Fame. BFI NETWORKING GROUP How to create a national-award-winning advertising agency: Step One: Lose Your Job. The Port of Greater Baton Rouge’s board voted Thursday to give the port director authority to solicit bids on its planned Maritime Security Operations Center. In a potential blow for Louisiana, the Chinese government is likely to reject a bid by one of that nation’s industries to buy the Hummer unit of General Motors Corp., according to a report by China National Radio. A panel of judges on the 1st Circuit Court of Appeal has ruled that a law restricting employees of any public board to terms not exceeding those of the members of the board itself does apply to Roger Richard, the former director of the Port of Greater Baton Rouge. The Port of Greater Baton Rouge’s board voted Thursday to give the director authority to solicit bids on its planned $4.5 million Maritime Security Operations Center. A panel of judges on the First Circuit Court of Appeals has ruled that a law restricting employees of any public board to terms not exceeding those of the members of the board itself applies to Roger Richard, the former director of the Port of Greater Baton Rouge. Piccadilly Restaurants LLC said today it’s not selling and leasing back its headquarters at 3232 S. Sherwood Forest Blvd. in Baton Rouge, as had been reported earlier this week. In a potential blow for Louisiana, the Chinese government is likely to reject a bid by one of that nation’s industries to buy the Hummer unit of General Motors Corp., according to a report by China National Radio. In May, Louisiana lost 3,700 jobs — the third time in five months the state has seen employment losses this year — and the state now rests 15,700 jobs below a year ago, a further sign that the national recession is affecting the state. The Louisiana Insurance Guaranty Association board elected officers and two board members on Thursday and began looking into ways to reduce the fees it pays its investment firm. HOUSTON (AP) — Texas billionaire R. Allen Stanford has pleaded not guilty to charges he swindled investors out of $7 billion as part of a massive investment scam. NEW ORLEANS (AP) — The New Orleans international airport has started the first of $350 million in improvements that will create about 7,000 construction jobs. Piccadilly Restaurants LLC is selling its headquarters building on Sherwood Forest Boulevard, but the Baton Rouge-based cafeteria company is not planning to move. St. Francisville resident Leonard Sullivan today bought 21 lots in The Bluffs development during the West Feliciana Parish Sheriff’s auction of property seized for non-payment of property taxes. A Canadian-based fast-food concept, Extreme Pita, has opened its first Baton Rouge restaurant on Essen Lane north of Perkins Road, with designs on up to 10 area locations. Industrial employers needing skilled machine operators and technicians can participate in a job fair 10 a.m. to 2 p.m. Tuesday at Hemingbough Conference and Convention Center at 10101 Highway 965 in St. Francisville. SHREVEPORT (AP) — The General Motors Corp. assembly and stamping plants in Shreveport will close no later than June 2012. That’s the word from the head of the United Auto Workers local representing 950 workers at the plants. MORGAN CITY — The owner of the Evangeline Downs race track has agreed to buy the Amelia Belle riverboat casino near Morgan City for $106.5 million. Peninsula Gaming LLC, based in Dubuque, Iowa, said it expects to complete the deal with Tropicana Casino and Resorts Inc. in September. The sale will require approval from the Louisiana Gaming Control Board. WASHINGTON — Nationwide home sales may have finally hit bottom, new data shows, but a host of thorny problems are hindering any recovery. Sales of previously occupied homes rose by 2.4 percent from April to May — the third monthly increase this year — but the results missed analysts’ expectations. Federal safety regulators want $112,000 in fines from three Baton Rouge companies for their alleged failure to protect workers properly from possible asbestos contamination during renovations at the State National Life Building. Just because you run a small business doesn’t mean you don’t have to worry about safeguarding customers’ and employees’ personal information. That was the lesson Deanya Kueckelhan delivered to the Better Business Bureau at its annual meeting Tuesday. The following is a roundup of area news from Tuesday compiled by the Advocate business staff: The East Baton Rouge Recreation and Park Commission has purchased 50 acres in Central to build the first phase of its planned $7.3 million sports park. Louisiana is one of 14 states that signed off on a settlement under which Taylor, Bean & Whitaker Mortgage Corp. will modify loans for struggling homeowners and pay $9 million in fines. Louisiana’s unemployment rate stood at 6.6 percent in May, up from 6.2 percent in April and 4.1 percent a year ago, the federal government reported Friday. Retail spending in East Baton Rouge Parish continued to see-saw in April, falling just under 1 percent to $630.4 million compared to the year before. As the temporary closure of the Perkins Road overpass enters its third month, merchants say the $3 million rehabilitation project is affecting them to varying degrees. A workshop titled “Buy It! Keep It!-Maintaining The Dream of Homeownership” will be held 10 a.m.-3 p.m. Saturday at Cortana Mall. Naomi Nelson has been named chief operating officer for Vascular Specialty Associates. She was system director of medical staff administration at Ochsner Clinic Foundation. Kent J Achord, of Prairieville, has earned the Project Management Professional certification awarded by the Project Management Institute. LSU EXECUTIVE EDUCATION WASHINGTON (AP) — Texas billionaire R. Allen Stanford, whose sprawling banking empire included a major office in Baton Rouge, has been indicted for what prosecutors say is a $7 billion scheme to defraud investors. Retail spending in East Baton Rouge Parish continued to see-saw in April, falling just under 1 percent to $630.4 million compared to the year before. A lesser-known legal clause governing state use of “mega-project” funds prevents the state from giving grants worth more than 30 percent of a project cost. In committing $69 million to a fledgling automaker in Monroe, state officials said contingency clauses in the deal announced Wednesday with San Diego-based V-Vehicle Co. will protect the Louisiana taxpayer investment. The V-Vehicle Co. auto plant in Monroe would reach employment of 1,400 by 2011 with an annual payroll of $56 million. Workers would average $40,000 plus benefits in the agreement reached this week between VVC and the state of Louisiana. Willbros Group Inc.’s acquisition of Baton Rouge engineering firm Wink Companies LLC won’t affect the local company’s 485 employees, but the move should make the Texas-based pipeline construction giant more efficient, officials said Thursday. Englewood Construction of Chicago will step in to finish two stalled hotel projects that left half-completed buildings on Airline Highway and North Harrell’s Ferry. The current spate of dry weather approaching drought conditions has Louisiana farmers in a bind, according to experts with the LSU AgCenter. |
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