business

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.

Oyster Season
2:19 pm
Fri August 3, 2012

Wildlife commission sets 2012-13 oyster season

The Louisiana Wildlife and Fisheries Commission has set the 2012-13 oyster seasons based on oyster stock assessments provided by state Department of Wildlife and Fisheries biologists and the public.

Little Lake Public Oyster Seed Grounds and the Vermilion/East and West Cote Blanche/Atchafalaya Bay Public Oyster Seed Grounds will open at one-half hour before sunrise on Wednesday, Sept. 5.

Riverboats
12:20 pm
Fri August 3, 2012

Queen of the Mississippi to launch service

A comeback for old-fashioned paddlewheel riverboat travel on the Mississippi River continues in New Orleans this weekend with the departure from New Orleans of the Queen of the Mississippi, a brand new, quintuple-decked vessel mixing 19th century trappings meant to evoke the Mark Twain era with modern amenities including internet access, satellite television, an exercise area and a putting green.

American Cruise Lines has set Saturday as the date for its first seven-night round trip to Vicksburg, Miss.

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Office of Group Benefits Management
3:11 pm
Wed August 1, 2012

Civil service panel approves state insurance contractor

The Civil Service Commission has narrowly agreed to a Jindal administration plan to hire a private company to manage a state employee health insurance plan.

The panel voted 3-2 Wednesday to allow Blue Cross/Blue Shield to run an insurance plan in the Office of Group Benefits that covers more than 62,000 employees and their dependents. The outsourcing will take effect Jan. 1.

The move will eliminate 177 state jobs — 121 of which are currently filled.

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Music Licensing Lawsuit
2:29 pm
Wed August 1, 2012

BMI sues Slidell bar over licensing fee

A Slidell bar accused of playing songs without paying a standard music licensing is being sued for copyright infringement.

The Times-Picayune reports Broadcast Music Inc., a nonprofit composers' rights organization, filed a lawsuit in U.S. District Court in New Orleans against Tooloula's Bar.

Federal law mandates that writers and publishers of music are entitled to be paid for the public performance of their music. Bars and other businesses usually pay an annual fee to groups such as BMI for a blanket license to their songs.

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