business

Union Election
12:55 pm
Sun July 22, 2012

Union seeks to represent workers at ConAgra plant

Employees at ConAgra Foods' Lamb Weston sweet potato processing plant near Delhi will decide next week whether to unionize.

Workers will vote Wednesday in an election administered by the National Labor Relations Board to determine whether they will join the United Food and Commercial Workers International Union, reports The News-Star reports.

A ConAgra spokeswoman at the firm's Omaha, Neb., headquarters says it doesn't want a middleman between managers and employees.

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Business & Technology
6:04 pm
Thu July 19, 2012

Tidewater sees growth in Africa market

Executives of offshore oil and gas fleet provider Tidewater Inc. told shareholders Thursday that prospects are bright the company's African market.

The Times-Picayune reports more than 90 percent of New Orleans-based Tidewater's fleet of oil and gas service vessels operates abroad. The largest concentration is in waters off sub-Saharan Africa, where Tidewater stations 132 vessels, about half its fleet.

Chief Operating Officer Jeff Gorski told shareholders attending the company's annual meeting that Africa is expected to continue to be a leading market.

Business
4:53 pm
Thu July 19, 2012

Earnings up for Pool Corp. in second quarter

Pool Corp., the Covington-based distributor of swimming pool and backyard supplies, reported improvement in its second-quarter net income on Thursday.

The company said net income for the quarter was $65 million, or $1.34 a share. In the same period a year ago, the company reported net income of $59 million, or $1.19 a share.

Revenue rose to $757.2 million from $706 million in the same quarter a year ago.

Casino Revenue
4:50 pm
Thu July 19, 2012

Louisiana casinos take in $203 million in June

Louisiana's state-licensed casinos took in nearly $203 million from gamblers in June, a 3 percent growth in winnings over their take a year earlier and a slight dip from the previous month.

The figures, compiled by the state police, were presented Thursday to the Louisiana Gaming Control Board.

Across the state, the mix of riverboat, land-based and race track casinos brought in nearly $6 million more than the $197 million they collected in June 2011.

Project-Based Opportunity Program
4:25 pm
Thu July 19, 2012

State taking applications for Katrina business loan program

The state of Louisiana is accepting applications for a program offering low-interest loans of up to $5 million to businesses affected by hurricanes Katrina and Rita in 2005.

The state Office of Community Development said in a statement Wednesday that the loans are designed to address "unmet business recovery needs" and stimulate economy recovery.

Funding for 11 projects already has been approved through the "Project-Based Opportunity Program."

The loans are funded by federal grants from the Department of Housing and Urban Development.

Business & Technology
2:25 pm
Wed July 18, 2012

City marketing group picks New York agency

Local advertising agencies that held the New Orleans Tourism Marketing Corp. contract for more than a decade failed to win a new deal with the tourism promotion organization.

The Times-Picayune reports (http://bit.ly/Q6WU9Z) the work will go to a New York company.

The marketing corporation's board voted unanimously Tuesday to hire Dentsu America as its advertising agency of record. Dentsu will work with a local company, Spears Consulting Group.

Business & Technology
12:24 pm
Wed July 18, 2012

Entergy expects earnings to slip

Entergy Corp. said it expects its second-quarter earnings to be about $2.05 per share, down from $1.76 a share for the same period a year ago.

The New Orleans-based utility company plans to release its financial report for the quarter later in July.

Louisiana Credit Rating
2:56 pm
Tue July 17, 2012

Moody's takes note of Louisiana Medicaid cut

Moody's Investors Service says Louisiana's loss of as much as $859 million in Medicaid financing is a "credit negative" for the state.

The notation from the bond-rating agency does not yet affect the state government bond rating — currently high investment grade and stable — but denotes for investors a significant change in the state's balance sheet.

The Times-Picayune reports (http://bit.ly/Q4abRS) the cut is tied to a congressional reduction in Louisiana's federal Medicaid financing rate.

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Spirit Airlines
5:50 pm
Mon July 16, 2012

Spirit Airlines to start service to New Orleans

Spirit Airlines is starting service to New Orleans, offering daily non-stop flights between Louis Armstrong New Orleans International Airport and Dallas/Fort Worth International Airport.

New Orleans International says the low-cost carrier plans to start the flights on Jan. 24 with either a 145-seat Airbus A319 or 178-seat Airbus A320.

The planned flight schedule calls for one round trip between New Orleans and Dallas daily.

The Two-Way
4:37 pm
Mon July 16, 2012

Yahoo Appoints Marissa Mayer, A Longtime Google Exec, As CEO

Marissa Ann Mayer gestures as she gives an interview in January of 2008.
Oliver Lang AFP/Getty Images

Originally published on Mon July 16, 2012 4:46 pm

Yahoo is turning to a longtime Google executive to try to turn around the ailing company. Effective tomorrow, Marissa Mayer will be Yahoo's new chief executive. She will be the fifth CEO in as many years.

According to Yahoo's press release, Mayer was one of Google's first employees and most recently she was responsible for the company's local, maps and location services.

Mayer's job, reports the AP, is to help the company "rebound from financial malaise and internal turmoil."

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