business

Real Estate
12:01 pm
Mon August 13, 2012

Land prices booming on Jefferson strip

The cost of land along Veterans Memorial Boulevard — east Jefferson Parish's main commercial corridor —has reached historic highs indicating a strong retail market, according to SRSA Commercial Real Estate of Metairie.

SRSA partner Donald Schwarcz tells New Orleans CityBusiness his figures show the strip's most valuable property costs as much as $60 per square foot, six times as much as land in eastern New Orleans, four times the cost along Lapalco Boulevard in west Jefferson and nearly twice as much as the most expensive commercial areas of St. Tammany Parish.

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Rank Wildcat Spirits Distillery
11:53 am
Mon August 13, 2012

New rum in Louisiana called 'Sweet Crude'

Two oil company landmen have an off-hours business in Broussard as the Rank Wildcat Spirits Distillery, crafting a rum they named Sweet Crude.

The Advertiser reports that 26-year-old Cole Leblanc welded the still together, and 35-year-old David Meaux — who also is a lawyer — dealt with all the paperwork.

They monitor the distilling, they bottle and label the rum, and even went to a sugar refinery and shoveled 1,600 pounds of raw sugar into huge barrels to bring back to Broussard.

Haynesville Shale
12:01 pm
Sun August 12, 2012

Haynesville shale slowdown hits hotels

The hundreds of hotel rooms planned or under construction in Shreveport-Bossier City might be missing their intended clients.

The Times reports hotel operators had counted on guests in town for business in the Haynesville shale oil field.

But a slowdown of natural gas production has cut into room nights.

More than 1,300 hotel rooms are in final planning phases or under construction in Shreveport-Bossier City. An additional 169 rooms have gone into operation this year in Bossier City.

Around the Nation
4:51 am
Sun August 12, 2012

Maine Lobstermen Give Farming Sea Scallops A Try

As lobster prices plunge, scallops offer fishermen an alternative to make money.
Levi Bridges for NPR

Originally published on Tue August 14, 2012 12:57 pm

If you don't love scallops, you probably just haven't had one that's cooked properly. That is, pan fried with some garlic and butter and herbs. They are very tasty.

In Maine, scientists and fishermen are learning how to farm, instead of catching, these tasty sea critters. That could be good for business and the environment.

Out on the water off Stonington, Maine, Marsden Brewer is motoring his lobster boat through the crowded fishing harbor. Today, just about all the boats here are lobster boats. But 30 years ago, he says, it was a different story.

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The Salt
7:58 am
Sat August 11, 2012

Summer Lobster Surplus Leads To Cross-Border Price War Between Trappers

Blockades set up by lobster trappers in Canada have disrupted Maine's lobster business.
Robert F Bukaty AP

Originally published on Mon October 22, 2012 10:38 am

You might imagine a war between lobster trappers to be something like this battle of the lobsters. OK, not really. Still, the price war heating up between the fishing folk in Maine and Canada this summer is bringing everybody down.

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Unemployment
2:32 pm
Fri August 10, 2012

Louisiana 1st-time jobless claims increase

First-time claims for unemployment insurance in Louisiana for the week ending Aug. 4 increased from the previous week's total.

The state labor department figures released Friday show the initial claims increased to 3,216 from the previous week's total of 2,988.

For the comparable week a year earlier, there were 4,033 initial claims.

The four-week moving average, which is a less volatile measure of claims, decreased to 3,240 from the previous week's total of 3,426.

Oil Refinery
1:02 pm
Wed August 8, 2012

Allen Parish agrees to property lease for refinery

OBERLIN — The Allen Parish Police Jury has agreed to lease more of the former Arizona Chemical property in Oakdale to a Texas-based company for a $100 million refinery.

The company, Virtual Engineering Operations, plans to a build refinery to process 20,000 barrels a day of crude to produce diesel fuel for farmers, jet fuel and heating oil.

The American Press reports the company hopes to increase its production to 40,000 barrels a day in the future with construction of a pipeline.

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Business & Technology
11:17 am
Tue August 7, 2012

H&E Equipment plans debt sell

BATON ROUGE — H&E Equipment Services Inc., a Baton Rouge-based construction machinery provider, plans to sell $480 million in debt to investors.

The company says H&E will use the proceeds to retire existing debt and pay a special, one-time cash dividend of $246 million, or roughly $7 per share.

The Advocate reports the company's board of directors must approve the dividend, its amount and the date it will be paid.

Out To Lunch
2:26 pm
Mon August 6, 2012

Wealth & Wellness

New Orleans fitness guru Mackie Shilstone.
Grant Morris It's New Orleans

Mackie Shilstone isn't only New Orleans' health and fitness guru, he's a worldwide sports phenomenon. Mackie talks about working with superstar athletes — like Serena Williams, whom he recently helped recapture Wimbledon — and his own will to win.

Business & Technology
11:56 am
Mon August 6, 2012

Stirling will manage Taylor Energy Building

Stirling Properties has been awarded a contract to manage the Taylor Energy Building on Lee Circle. The 30,000-square-foot building is owned by the Taylor Foundation.

Terms were not disclosed in the announcement on Monday.

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