Business & Technology

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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The Two-Way
11:46 am
Wed August 8, 2012

Australia Orders Google To Delete Personal Data Once And For All

The camera mounted on a Google Street View car used to photograph whole streets obscures part of the U.S. Internet giant's logo.
Daniel Mihailescu AFP/Getty Images

Australia's privacy commissioner is asking Google to delete all personal data its Street View vehicles collected from unsecured wi-fi networks. The directive comes a little more than a week after Google said that in error, it had kept a small portion of the 600 gigabytes it collected.

As we reported, the slurped data is known to include passwords, emails, pictures and web searches.

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Film Tax Credits
10:55 am
Wed August 8, 2012

Budget group: Film tax break program needs limits

A new report is suggesting state lawmakers should lessen Louisiana's generous film tax credits and cap the amount of money it can cost the state each year in lost revenue.

Louisiana spent $231 million last year to attract movie productions, through a tax break program that continues to grow larger annually and that has cost the state more than a billion dollars over a decade.

The left-leaning Louisiana Budget Project says the state hasn't gotten much in return besides the prestige of hosting big-name Hollywood actors.

Business
2:19 am
Wed August 8, 2012

Natural Gas Giant Tries To Shift Gears

Workers move a section of well casing into place at a Chesapeake Energy natural gas well site near Burlington, Pa., in 2010.
Ralph Wilson AP

Originally published on Thu August 9, 2012 2:54 pm

A drop in natural gas prices is hurting balance sheets across the petroleum industry. The second-largest natural gas producer in the United States — Oklahoma City-based Chesapeake Energy — has been hit especially hard.

After 23 consecutive years of touting its increasing natural gas production, Chesapeake CEO Aubrey McClendon told investors during a conference call Tuesday that the company projects its gas output will drop about 7 percent in 2013.

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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.

Farm Radio
11:14 am
Tue August 7, 2012

Farm Bureau and La. Radio Network agrinews merge

The Louisiana Farm Bureau Radio Network is merging with the Louisiana Radio Network's agrinews division.

The Advocate reports that the Louisiana Farm Bureau Agrinews Radio Network will have a combined 42 affiliates in Louisiana and Mississippi.

LRN launched the Louisiana Agrinews Network in 1976, offering several daily agriculture reports for the state's farmers and produced in cooperation with the Farm Bureau. In 1998 the Farm Bureau began the Louisiana Farm Bureau Radio Network with 22 affiliates statewide.

The Two-Way
10:39 am
Tue August 7, 2012

British Bank Denies Laundering Iranian Money; Say It's Not A 'Rogue Institution'

  • Steve Inskeep speaks with Jim Zarroli on 'Morning Edition'

As its stock tumbled today following word that New York State regulators have labeled it a "rogue institution" that allegedly hid about 60,000 secret transactions involving $250 billion in Iranian funds, Britain's Standard Chartered Bank strongly denied the accusations.

It "rejects the position or portrayal of facts as set out in the order," the bank said.

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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.

Baton Rouge Airport
2:15 pm
Wed August 1, 2012

Baton Rouge airport's budget projected to increase

The Baton Rouge Metro Airport's budget is projected to increase by nearly 5 percent in 2013 to $13.1 million. That's according to a proposal presented to the Airport Commission's finance committee.

Cary Morgan, the airport's business manager, says the increase from an expected $12.5 million expenditure in 2012 will be funded primarily through non-airline revenue, which is expected to jump $400,000 to $9 million.

Non-airline revenue comes from parking, concessions, rental car companies, leases of airport property and other sources.

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